Enovis Corporation · NYSE:ENOV
Enovis — Colfax — Investor Day (December 2015)
13 slides from Enovis's investor day presentation, Dec 17, 2015
Slide 1: Financial Outlook & Summary
1 FINANCIAL OUTLOOK & SUMMARY Scott Brannan | SVP and CFO Matt Trerotola | CEO of Colfax & Interim CEO of ESAB
Slide 2: Fourth Quarter Update
2 Fourth Quarter Update • Maintain guidance of 2015 Adj. EPS of $1.52 to $1.56 • Continued weak end markets • Progress on operational performance and previously announced cost reduction actions • Purchased ~990,000 shares through repurchase authorization to date
Slide 3: 2016 Outlook
3 2016 Outlook • Organic revenue down 3.5% to 6% • FX revenue headwinds of ($140) - ($150) million, resulting in ($15) - ($16) million impact on operating profit • Excludes any accretion from future acquisitions • Includes $14 - $17 million additional adjusted operating profit from the Roots and Sim
Slide 4: 2016 Organic Growth Outlook
4 2016 Organic Growth Outlook 2016 FORECAST ORGANIC GROWTH Fabrication Technology (7)-(5)% Howden (6)-(3)% Colfax Fluid Handling (3)-(0)% Total Colfax (6)-(3.5)% Note: Guidance as of 12/17/15.
Slide 5: 2016 Rollforward
5 2016 Rollforward (in millions, except per share) Low High 2015 guidance 3,900$ 3,950$ 345$ 352$ FX (140) (150) (15) (16) Roots and Simsmart incremental 75 85 14 17 Projected before actions 3,835 3,885 344 353 Non-recurring 2015: Receivable allowance — — 11 11 Impairments — — 5 5 Asbestos — — 4 4 C
Slide 6: 2016 Outlook Summary
6 2016 Outlook Summary REVENUE RANGE 2016 Total $3.60 billion To $3.75 billion EPS AND ADJUSTED NET INCOME RANGE 2016 Net income per share $0.99 To $1.14 Adjusted net income $176 million To $195 million 2016 Adjusted net income per share (1) $1.40 To $1.55 ASSUMPTIONS Restructuring costs $70 million
Slide 7: Revenue Response Results
7 Revenue Response Results Gas & Fluid Handling Down 2-5% organically on continued weak end markets $23M in restructuring savings; focused growth initiatives to offset weak markets and position for 2017 Continue to build on 2015 performance with improved margin on lower volume Fabrication Technology
Slide 8: Non-GAAP Disclaimer
8 NON-GAAP DISCLAIMER Colfax has provided financial information that has not been prepared in accordance with GAAP. These non-GAAP financial measures are adjusted operating income, projected adjusted operating income, projected adjusted net income, projected adjusted net income per share, organic re
Slide 9: Non-GAAP Reconciliation
9 NON-GAAP RECONCILIATION (Unaudited) (in millions except EPS) Projected net income $ 125 $ 144 Non controlling interest 23 24 Income taxes 62 71 Interest 50 50 Restructuring costs 70 70 Adjusted operating income $ 330 $ 359 Projected operating income $ 260 $ 289 Restructuring costs 70 70 Adjusted o
Slide 10: Non-GAAP Reconciliation - Organic Revenue
10 NON-GAAP RECONCILIATION - ORGANIC REVENUE (Unaudited) $ % (Dollars in millions) For the year ended December 31, 2012 3,913.9$ Components of Change: Existing Businesses 107.5 2.7 % Acquisitions (1) 246.9 6.3 % Foreign Currency Translation (61.1) (1.5)% Total 293.3 7.5 % For the year ended December
Slide 11: Non-GAAP Reconciliation - ESAB Organic Revenue
11 NON-GAAP RECONCILIATION - ESAB ORGANIC REVENUE (Unaudited) Source: Company filings. $ % (Dollars in millions) For the year ended December 31, 2012 2,012.7$ Components of Change: Existing Businesses (30.7) (1.5)% Acquisitions (1) 163.0 8.1 % Foreign Currency Translation (41.9) (2.1)% Total 90.4 4.
Slide 12: Non-GAAP Reconciliation - Inorganic Revenue
12 NON-GAAP RECONCILIATION - INORGANIC REVENUE (Unaudited) $ % (Dollars in millions) For the year ended December 31, 2012 3,913.9$ Components of Change: Existing Businesses 107.5 2.7 % Acquisitions (1) 246.9 6.3 % Foreign Currency Translation (61.1) (1.5)% Total 293.3 7.5 % For the year ended Decemb
Slide 13: Non-GAAP Reconciliation (Guidance Unchanged as of October Update)
13 NON-GAAP RECONCILIATION (Guidance Unchanged as of October Update) _____________________ Note: Guidance as of October 14, 2015. 2015 EPS Range Low High Projected net income per share - diluted $ 1.20 $ 1.24 Restructuring costs 0.53 0.53 Non-cash charge on debt refinancing (1) 0.04 0.04 Tax adjustm