Cooper-standard Holdings Inc. · NYSE:CPS
Cooper-standard — FY2012 Earnings Presentation
20 slides from Cooper-standard's earnings presentation, Feb 26, 2013
Slide 1: Fourth Quarter & Full Year 2012 Earnings Call
Exhibit 99.2 Cooper Standard Fourth Quarter & Full Year 2012 Earnings Call February 26, 2013
Slide 2: Safe Harbor
Safe Harbor This presentation includes “forward-looking statements” within the meaning of U.S. federal securities laws, and we intend that such forward-looking statements be subject to the safe harbor created thereby. We make forward-looking statements in this presentation and may make such statemen
Slide 3: Executive Overview: Fourth Quarter and Full Year 2012
Executive Overview Fourth Quarter and Full Year 2012 Jeff Edwards Chief Executive Officer
Slide 4: Executive Overview
Executive Overview • Strategy • Managing European downturn • Emerging market expansions • Key leadership appointments to facilitate growth cooperstandard 4
Slide 5: First 120 Day CEO Plan
First 120 Day CEO Plan Day Day Day Define the Vision Unwavering 0-45 Listen & Learn 45-120 120+ / Path Forward Execution • Met with Top 50 management • Determine capabilities • Create vision • Met with plant management • Analyze current portfolio • Develop strategic priorities teams performance • In
Slide 6: Key Elements to Success
Key Elements to Success • Make shareholder value creation our over-arching objective • Have relentless focus on our customers – develop deep insight into their needs and consistently beat our competition in most effectively serving such needs • Achieve profitable growth – grow the top line and expan
Slide 7: Strategic Priorities
Strategic Priorities • Focus on our customers, develop deep insight into their needs and how to most effectively serve them • Finalize product growth strategy • Accelerate profitable growth … Brazil, India, China, Southeast Asia • North America – continue to invest in infrastructure to support growt
Slide 8: Financial Overview: Fourth Quarter and Full Year 2012
Financial Overview Fourth Quarter and Full Year 2012 Allen Campbell Chief Financial Officer
Slide 9: Q4 and FY 2012 Revenue
Q4 and FY 2012 Revenue $ USD Millions $364.5 $400 $1,800 $343.6 $1,503.7 $1,417.3 $1,500 $271.4 $300 $235.8 $1,078.2 $1,016.6 $1,200 $900 $200 $600 $100 $51.5 $56.7 $218.5 $213.2 $40.1 $139.5 $147.4 $29.1 $300 $0 $0 North Europe Asia Pacific South North Europe Asia Pacific South America America Amer
Slide 10: Q4 and FY 2012 Performance
Q4 and FY 2012 Performance $ USD Millions, except per share amounts Q4 2011 Q4 2012 FY 2011 FY 2012 Sales 695.7 697.1 2,853.5 2,880.9 Gross Profit 97.6 99.7 450.6 438.9 SGA 66.7 74.8 257.6 281.3 Operating Profit 22.9 (2.1) 125.2 103.3 Net Income 23.2 (9.9) 102.8 102.8 Fully Diluted EPS $0.84 ($0.57)
Slide 11: EBITDA and Adjusted EBITDA Reconciliation
EBITDA and Adjusted EBITDA Reconciliation Twelve Months Ended Dec 31, 2012 $ USD Millions Net income 102.8 Provision (benefit) for income tax expense (31.5) Net interest expense 44.8 Depreciation and amortization 122.7 EBITDA 238.8 Restructuring 25.8 Net gain on partial sale of joint venture - Inven
Slide 12: Cooper Standard Non-Consolidated Joint Venture Sales
Cooper Standard Non-Consolidated Joint Venture Sales $ million Joint Venture Partner Product Country $3,175 $3,288 Huayu-Cooper Sealing SAIC/HASCO Sealing China $3,500 $321 $407 Nishikawa Cooper Nishikawa Rubber Sealing U.S. $3,000 $52 $57 Nishikawa Tachaplalert Cooper Nishikawa Rubber Sealing Thail
Slide 13: Q4 and FY 2012 Cash Flow and Key Financial Ratios
Q4 and FY 2012 Cash Flow and Key Financial Ratios ($ USD Millions) Q4 2012 FY 2012 Cash from business $43.9 $209.3 Pension funding - US (3.3) (30.1) Changes in operating assets & liabilities 65.8 (94.8) Cash from operations 106.4 84.4 Capital expenditures (39.6) (131.1) Cash from (used) in operation
Slide 14: 2013 Guidance
2013 Guidance • Sales growth: 1% to 2% • Capital expenditures: $150 million - $170 million • Cash restructuring: $40 million - $50 million • Cash taxes: $35 million - $45 million Guidance assumptions: • North American production: 15.6 million units • Europe (including Russia) production: 18.7 millio
Slide 15: Questions & Answers
Questions & Answers G CooperStandard
Slide 16: Summary
Summary • Complete 120 day plan • Align organization to support customer • Leverage footprint and capabilities to win global platforms • Attract and retain key talent to drive growth – Appointed Asian and European Presidents – Appointed executive to oversee emerging markets • Continue a relentless f
Slide 17: Appendix
Appendix G CooperStandard
Slide 18: Net Leverage Ratio as of Dec 31, 2012
Net Leverage Ratio as of Dec 31, 2012 Twelve Months ($ USD Millions) Three Months Ended Ended Mar 31, Jun 30, Sep 30, Dec 31, Dec 30, 2012 2012 2012 2012 2012 Net income $ 23.8 $ 77.3 $ 11.6 $ (9.9) $ 102.8 Provision for income tax expense 8.1 (46.2) 5.4 1.2 (31.5) Interest expense, net of interest
Slide 19: Adjusted EBITDA as a Percent of Sales as of Dec 31, 2012
Adjusted EBITDA as a Percent of Sales as of Dec 31,2012 ($ USD Millions) Twelve Months Three Months Ended Ended Mar 31, Jun 30, Sep 30, Dec 31, Dec 30, 2012 2012 2012 2012 2012 Net income $ 23.8 $ 77.3 $ 11.6 $ (9.9) $ 102.8 Provision for income tax expense 8.1 (46.2) 5.4 1.2 (31.5) Interest expense
Slide 20: Non-GAAP Financial Measures
Non-GAAP Financial Measures EBITDA and adjusted EBITDA are measures not recognized under Generally Accepted Accounting Principles (GAAP) which exclude certain non-cash and non- recurring items. When analyzing the company’s operating performance, investors should use EBITDA and adjusted EBITDA in add
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