Albany International Corporation · NYSE:AIN
Albany International — Q3 2014 Earnings Presentation
7 slides from Albany International's earnings presentation, Nov 3, 2014
Slide 1: Albany International Corp. Q3 Financial Performance
November 3, 2014 Albany International Corp. Q3 Financial Performance
Slide 2: 'Non-GAAP' Items and Forward-Looking Statements
‘Non-GAAP’ Items and Forward-Looking StatementsThis presentation contains certain items, such as net income attributable to the Company, excluding adjustments (absolute as well as per-share), earnings before interest, taxes, depreciation and amortization (EBITDA), adjusted EBITDA and net debt, that
Slide 3: Net Sales by Segment
Net Sales by Segment (in thousands) Net Sales Three Months ended September 30, 2014 2013 Percent Change Impact of Changes in Currency Translation Rates Percent Change excluding Currency Rate Effect Machine Clothing (MC) $157,891 $162,864 -3.1% ($937) -2.5% Albany Engineered Composites (AEC) 21,970 2
Slide 4: Gross Profit Margin by Quarter
Gross Profit Margin by Quarter Percentage of Net Sales Machine Clothing Total Company Q1 2013 0.442 0.39 Q2 2013 0.438 0.391 Q3 2013 0.416 0.371 Q4 2013 0.417 0.382 Q1 2014 0.45 0.415 Q2 2014 0.424 0.389 Q3 2014 0.419 0.382
Slide 5: Earnings Per Share
Earnings Per Share Per share amounts (Basic) Three Months ended September 30, 2014 2013 Nine Months Ended September 30, 2014 2013 Net income attributable to the Company, as reported $0.37 $0.15 $1.06 $0.28 Adjustments: Loss from discontinued operations - 0.01 Restructuring charges 0.02 0.04 0.08 0.5
Slide 6: Adjusted EBITDA
Adjusted EBITDA Three Months ended September 30, 2014 (in thousands) Machine Clothing Albany Engineered Composites Corporate expenses and other Total Company Net income $33,308 ($2,765) ($18,769) $11,774 Interest expense, net - - 2,486 2,486 Income tax expense - - 6,762 6,762 Depreciation and amorti
Slide 7: Debt
Debt $ thousands $374,812 Net Debt Total Debt December 31, 2011 $255,903 $374,812 December 31, 2012 $129,021 $319,739 December 31, 2013 $81,834 $304,500 March 31, 2014 $94,040 $302,419 June 30, 2014 $78,225 $285,061 September 30, 2014 $88,205 $283,666