Slide 1: 2024 Third Quarter Results
2024 Third Quarter Results October 30, 2024 Proprietary © Gentherm 2024
Slide 2: Use of Non-GAAP Financial Measures
Use of Non-GAAP Financial Measures* In addition to the results reported herein in accordance with GAAP, the Company has provided here or may discuss on the related conference call adjusted earnings before interest, taxes, depreciation and amortization (“Adjusted EBITDA”); Adjusted EBITDA margin; adj
Slide 3: Forward-Looking Statements
Forward-Looking Statements Except for historical information contained herein, statements in this presentation are forward-looking statements that are made by Gentherm Incorporated (the “Company”) pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All sta
Slide 4: 2024 Priorities
2024 Priorities 03 Lead the industry with Automotive Execute on Fit-for-Growth 2.0 Deliver industry leading New Business Awards and execute initiatives to expand margin proprietary innovations such as on unprecedented award backlog ClimateSense®, WellSenseTM and ComfortScaleTM Laser focused on key
Slide 5: Automotive Highlights
Automotive Highlights 30 Vehicle launches with 11 OEMs Multiple CCS® Launches • Cadillac Escalade IQ • Audi A5 • Kia K4 • Volkswagen Passat Pro • BMW 5-Series • Yangwang U9 • Skoda Kodiaq • Volkswagen Magotan ClimateSense® launch on Cadillac Escalade IQ Record quarterly revenue for pneumatic lumbar
Slide 6: New Automotive Business Awards $600M
New Automotive Business Awards $600M in awards in 3Q Honda Pilot EV heated interior award CCS® Awards from: 13 Steering Wheel Heater Awards, Hyundai | Honda | Toyota | Audi including 8 hands-on-detection enabled Large EV Manufacturer | Great Wall awards, including the GM Full Size Truck and Large SU
Slide 7: First ComfortScale Award
First ComfortScale Award ClimateSense® Software Multifunction ECU 01 Flexible design provides ability to be CCS® Vent foam and seat agnostic, adaptable for PCS Massage all OEMs and Seat Tier 1’s CCS® Heat PCS Lumbar Support 02 03 Unmatched performance with Scalable system from lumbar only CCI Steeri
Slide 8: Medical Highlights
Medical Highlights Year-over-year revenue growth Quarterly revenue increased 10%, ex-fx Strong growth of flagship Strong partner execution in Blanketrol continues in the U.S., Europe, Middle East & Africa highlighted by a key win with the continues to produce growth in U.S. Navy the Region Driving o
Slide 9: Select Income Statement Data
Select Income Statement Data Three Months Ended September 30 Nine Months Ended September 30 (Dollars in thousands, except per share data) 2024 2023 2024 2023 Product Revenues $ 371,512 $ 366,195 $1,103,210 $1,102,143 Automotive 358,804 354,782 1,067,444 1,069,007 Medical 12,708 11,413 35,766 33,136
Slide 10: Select Balance Sheet Data
Select Balance Sheet Data (Dollars in thousands) September 30, 2024 December 31, 2023 Cash and Cash Equivalents $ 150,581 $ 149,673 Total Assets 1,298,179 1,234,371 Debt 222,314 222,838 Current 210 621 Non-Current 222,104 222,217 Revolving LOC Availability 278,000 278,000 Total Liquidity 428,581 427
Slide 11: 2024 Guidance
2024 Guidance As of July 31, 2024 As of October 30, 2024(1) Product Revenues Low end of $1.5B - $1.6B $1.45B – $1.47B Adjusted EBITDA Margin Rate Above mid-point of 12.5% - 13.5% Near mid-point of 12.5% – 13.5% Adjusted Effective Tax Rate 26% - 29% No change Capital Expenditures $65M - $75M No chang
Slide 12: Appendix
Appendix Proprietary © Gentherm 2024
Slide 13: Reconciliation of Adjusted EBITDA and Adjusted EBITDA Margin
Reconciliation of Adjusted EBITDA and Adjusted EBITDA Margin Three Months Ended September 30 Nine Months Ended September 30 2024 2023 2024 2023 Net Income $ 15,965 $ 15,844 $ 49,626 $ 22,256 Add Back: Income Tax Expense 3,445 6,908 16,531 15,478 Interest Expense, net 4,710 3,368 11,956 9,444 Depreci
Slide 14: Reconciliation of Adjusted EPS
Reconciliation of Adjusted EPS Three Months Ended September 30 Nine Months Ended September 30 2024 2023 2024 2023 Diluted EPS - As Reported $ 0.51 $ 0.48 $ 1.57 $ 0.67 Acquisition and Integration Expenses ─ 0.05 ─ 0.14 Non-Cash Purchase Accounting Impacts 0.05 0.05 0.15 0.17 Unrealized Currency Loss