Slide 1: Q1 2016 Results Review
Q1 2016 Results Review April 29th, 2016 Exhibit 99.2
Slide 2: Safe Harbor Statement and Disclosures
Safe Harbor Statement and Disclosures April 29th, 2016 All statements other than statements of historical fact contained in this presentation including statements regarding our: competitive strengths; business strategy; future financial position or operating results; budgets; projections with respec
Slide 3: Q1 2016 Highlights
Q1 2016 Highlights Note: All figures are provided herein on a US GAAP $ basis unless otherwise indicated April 29th, 2016 Q1 2016 Results Review Industrial Activities operating margin of 3.5% Year-over-year operating profit and margin improvements achieved in all segments except Agricultural Equipme
Slide 4: Financial Highlights
Financial Highlights
Slide 5: Financial Highlights
Q1 2016 Financial Highlights April 29th, 2016 Q1 2016 Results Review Q1 2016 Q1 2015 Δ Net Sales Ind. Activities ($bn) 5.1 5.6 -9.8% Net Sales change in Constant currency: -5.7% Operating Profit Ind. Activities ($mn) 178 223 -20.2% Operating Margin Ind. Activities 3.5% 4.0% -0.5 p.p. Adj. Net Income
Slide 6: Net Sales Industrial Activities
Q1 2016 Net Sales Industrial Activities Net Sales Walk By Segment ($Mn) (*) (*) Note: Net Sales: Including Other Activities, Unallocated Items & Adjustment & Eliminations Net Sales By Currency (1) Net Sales By Region (1) April 29th, 2016 Q1 2016 Results Review ($mn) Agricultural Equipment Commercial
Slide 7: Operating Profit Industrial Activities and Adjusted Net Income Walk
Q1 2016 Operating Profit Industrial Activities and Adjusted Net Income Walk April 29th, 2016 Q1 2016 Results Review Operating Profit Industrial Activities ($Mn) Adjusted Net Income ($Mn) 223 (114) 14 37 17 1 178 4.0% 3.5% (45) 33 (12) 36 1 (45) 1 (8) (13) 9 (*) Consolidated Operating Profit (52) (*)
Slide 8: Cash Flow – Change in Net Industrial Debt
Q1 2016 Cash Flow – Change in Net Industrial Debt April 29th, 2016 Q1 2016 Results Review Net Industrial Cash Flow (622) Change in Net Debt (892) Dec 31, 2015 Net Income D&A Change in provision and similar Change in WC Tangible & Intangible Capex Other changes Capital Increase and dividends FX Trans
Slide 9: Financial Services performance
Q1 2016 Financial Services performance April 29th, 2016 Q1 2016 Results Review Net Income ($mn) Delta % Q1 ’16 vs. Q1 ‘15 Net income was $87mn, up slightly compared to Q1 2015 Improved net interest margin more than offset higher provision for credit losses and the negative impact of currency transla
Slide 10: Liquidity & Debt Maturity
Mar. 31, 2016 Liquidity & Debt Maturity Available Liquidity ($bn) Debt Maturity Schedule1 ($bn) 1 Represents cash portion of debt maturities as of 03/31/2016 2 Of which $0.8bn ABS related & Restricted Cash Undrawn M/T Committed Lines Bank Debt Capital Market Cash Other Company Available Liquidity Av
Slide 11: Industrial Activities Overview
Industrial Activities Overview
Slide 12: Agricultural Equipment Q1 2016 Financial Results
Agricultural Equipment Q1 2016 Financial Results April 29th, 2016 Q1 2016 Results Review Net Sales by Region & Product ($) Net sales were $2.1bn, down 13.6% on a constant currency basis compared to Q1 2015 Operating Profit Walk ($Mn) (114) 7.9% 4.2% 204 (135) 23 4 (4) 7 (9) 90 NAFTA LATAM APAC EMEA
Slide 13: Agricultural Equipment Inventory management
Agricultural Equipment Inventory management (units of equipment) – Industry units April 29th, 2016 Q1 2016 Results Review (*) Source: CNH Industrial Internal Data Industry Units Tractors overproduction vs. retail at 5% and Combines overproduction at 10% Production level down 9% vs. Q1 2015 for both
Slide 14: Construction Equipment Q1 2016 Financial Results
Construction Equipment Q1 2016 Financial Results April 29th, 2016 Q1 2016 Results Review Net Sales by Region & Product ($) Operating Profit Walk ($Mn) 0 0.0% 2.6% (27) 7 28 (1) 2 5 14 14 Net sales were $536mn down 8.1% on a constant currency basis Light Other Heavy NAFTA LATAM APAC EMEA Positive pri
Slide 15: Construction Equipment Inventory management
Construction Equipment Inventory management (units of equipment) – Industry units Note: As of Q2 2014, industry volume data for Heavy Construction Equipment includes compaction equipment, which historically was not in the Light or Heavy Equipment definitions. Further, industry volume data for Heavy
Slide 16: Commercial Vehicles Q1 2016 Financial Results
Commercial Vehicles Q1 2016 Financial Results April 29th, 2016 Q1 2016 Results Review Net Sales by Region & Product ($) Operating Profit Walk ($Mn) Trucks Specialty Vehicles Buses Net Sales at $2.0bn, up 5.3% on a constant currency basis (11) 5 49 (*) 26 22 2 (4) (2) 38 1.9% (*) Excluding from Q1 20
Slide 17: Commercial Vehicles Inventory management
Commercial Vehicles Inventory management (units of equipment) – Industry units April 29th, 2016 Q1 2016 Results Review Commercial Vehicles (All Equipment) First quarter overproduction vs. retail at 18% * Reflects aggregate for key markets where the Company competes: EMEA: 27 of the member countries
Slide 18: Powertrain Q1 2016 Financial Results
Powertrain Q1 2016 Financial Results April 29th, 2016 Q1 2016 Results Review Q1 2016 third party Net sales at 44% vs. 47% in Q1 2015 Net Sales & Operating Profit ($) Units Sold Q1 ’16 vs. Q1 ’15 Engines sold to third party at 54% , flat vs. Q1 2015 Net sales were $882mn, up 0.8% on a constant curren
Slide 19: FY 2016E US GAAP Financial Targets
FY 2016E US GAAP Financial Targets
Slide 20: FY 2016E Industry Units Outlook
FY 2016E Industry Units Outlook April 29th, 2016 Q1 2016 Results Review 1 Reflects aggregate for key markets where Group competes LATAM APAC NAFTA EMEA Agricultural Equipment Tractors Combines 0-140 HP Flat 140+ HP (20%) - (25%) Industry (5%) (15%) - (20%) Construction Equipment Light Heavy Industry
Slide 21: FY 2016E US GAAP Financial Targets
FY 2016E US GAAP Financial Targets April 29th, 2016 Q1 2016 Results Review Trading conditions in Agricultural Equipment continue to remain challenging particularly in the row crop industry in NAFTA and in LATAM, while EMEA agricultural equipment markets are expected to be flat. The commercial vehicl
Slide 22: Appendix
Appendix
Slide 23: Results highlights (EU-IFRS $ & US GAAP $)
Q1 2016 Results highlights (EU-IFRS $ & US GAAP $) – delta with previous year April 29th, 2016 Q1 2016 Results Review REVENUES Trading Profit Operating Profit MARGIN (IFRS) Δ (US GAAP) Δ (IFRS) Δ (US GAAP) Δ (IFRS) (US GAAP) Agricultural Equipment 2,124 (453) 2,124 (453) 19 (138) 90 (114) 0.9% 4.2%
Slide 24: From Operating Profit to Net Income (Loss) under US GAAP
Q1 2016 From Operating Profit to Net Income (Loss) under US GAAP April 29th, 2016 Q1 2016 Results Review ($mn) Q1 2016 Q1 2015 Δ Industrial Activities Operating profit 178 223 (45) Financial Services Operating profit 130 129 1 Elimination & Other (76) (68) (8) Operating Profit 232 284 (52) Restructu
Slide 25: Reconciliation of Net Income to Adjusted Net Income
Q1 2016 Reconciliation of Net Income / (Loss) to Adjusted Net Income (US GAAP) First Quarter 2016 2015 Net Income / (Loss) (513) 23 Restructuring expenses, net of tax 12 10 Other exceptional items, net of tax 502 - Adjusted Net Income (loss) 1 33 Adjusted Net Income (loss) attributable to CNH Indust
Slide 26: Operating Profit US GAAP to Trading Profit EU-IFRS
Q1 2016 Operating Profit US GAAP to Trading Profit EU-IFRS - Reconciliation The following reconciles Industrial Operating Profit (US GAAP) to Industrial Trading Profit under IFRS: April 29th, 2016 Q1 2016 Results Review First Quarter 2016 % of Net Sales 2015 % of Net Sales US GAAP - Industrial Opera
Slide 27: Net Income US GAAP to Profit under EU-IFRS
Q1 2016 Net Income / (Loss) US GAAP to Profit / (Loss) under EU-IFRS - Reconciliation The following reconciles Net Income / (Loss) in US GAAP to Profit / (Loss) under IFRS: April 29th, 2016 Q1 2016 Results Review First Quarter 2016 EPS 2015 EPS Net Income / (Loss) attributable to CNH Industrial N.V.
Slide 28: Total Equity – US GAAP to EU-IFRS Reconciliation
Dec. 31, 2015 Total Equity – US GAAP to EU-IFRS Reconciliation April 29th, 2016 Q1 2016 Results Review Mar. 31, 2016 Dec. 31, 2015 Total Equity in accordance with US GAAP 4,362 4,843 (a) Development costs, net 2,591 2,536 (b) Goodwill and other intangible assets (112) (113) (c) Defined benefit plans
Slide 29: Gross Debt - Breakdown
Q1 2016 Gross Debt - Breakdown December 31, 2015 March 31, 2016 Industrial Financial Services Industrial Financial Services 2.0 2.4 Bank Debt 2.1 2.6 5.0 3.7 Capital Market 4.9 4.1 0.2 0.1 Other Debt 0.2 0.1 7.2 6.1 Cash Maturities 7.1 6.7 0.0 9.4 ABS / Securitization 0.0 9.0 0.0 1.7 Warehouse Facil
Slide 30: Debt Maturity Schedule - Breakdown
Q1 2016 Debt Maturity Schedule - Breakdown Outstanding Mar. 31, 2016 9M 2016 2017 2018 2019 2020 Beyond 4.6 Bank Debt 1.4 1.1 1.3 0.5 0.2 0.2 9.0 Capital Market 0.5 2.1 2.6 1.7 0.6 1.4 0.2 Other Debt 0.1 0.0 0.0 0.0 0.0 0.1 13.8 Cash Portion of Debt Maturities 2.0 3.2 3.9 2.2 0.8 1.7 (5.1) Cash & Ma
Slide 31: Geographic Information
Geographic Information Certain financial and market information in this presentation has been presented by geographic area. CNH Industrial defines its geographic areas as NAFTA: United States, Canada and Mexico LATAM: Central and South America, and the Caribbean Islands APAC: Continental Asia (inclu
Slide 32: Non-GAAP Financial Measures
Non-GAAP Financial Measures CNH Industrial monitors its operations through the use of several non-GAAP financial measures. CNH Industrial believes that these non-GAAP financial measures provide useful and relevant information regarding its results and enhance the reader’s ability to assess CNH Indus
Slide 33: Investor Relations Team
Investor Relations Team Federico Donati – Head of Investor Relations ( +44 (207) 76 - 60386 ( +39 (011) 00 - 62756 Noah Weiss – Investor Relations North America ( +1 (630) 887 - 3745 e-mail: investor.relations@cnhind.com website: www.cnhindustrial.com Contacts April 29th, 2016 Q1 2016 Results Review