Shyft — The Shyft Group — Q1 2025 Earnings Presentation
18 slides from Shyft's earnings presentation, Apr 24, 2025
Slide 1: First Quarter 2025 Earnings Conference Call
First Quarter 2025 Earnings Conference Call April 24, 2025 © THE SHYFT GROUP, INC. | Proprietary & Confidential
Slide 2: Forward-Looking Statements
Forward-Looking Statements Certain statements in this presentation are forward-looking statements. In some cases, Shyft has identified forward-looking statements by such words or phrases as "will likely result," "is confident that," "expect," "expects," "should," "could," "may," "will continue to,"
Slide 3: No offer or solicitation
No offer or solicitation This communication is for informational purposes only and is not intended to and shall not constitute an offer to buy or sell, or the solicitation of an offer to buy or sell, any securities, or a solicitation of any vote or approval, nor shall there be any offer, solicitatio
Slide 4: 1Q 2025 Highlights
1Q 2025 Highlights Blue Arc sales of $26.3M $205M $12M 3% increase YoY 6% of Sales Shyft adjusted EBITDA margins doubled YoY Sales Adjusted EBITDA FVS margins improved to 3.8%, +2.9 pts YoY SV maintained high teens margins at 17% $335M <2.0x Strong service body order intake 7% improvement
Slide 5: Customer Centricity at NTEA Work Truck Week Show
Customer Centricity at NTEA Work Truck Week Show OPERATING FRAMEWORK • Strong customer engagement across the full portfolio • Expanded customer and fleet opportunities with key partners • Customer-driven innovation on display • Debuted Trademaster Service Body and Marketplace Dry Freight Truck • Sho
Slide 6: First Quarter 2025 Financial Review and 2025 Outlook
First Quarter 2025 Financial Review and 2025 Outlook © THE SHYFT GROUP, INC. | Proprietary & Confidential
Slide 7: Shyft Financial Summary – 1Q25
Shyft Financial Summary – 1Q25 Reported Financials Adjusted Financials ($ millions, except EPS) ($ millions, except EPS, & % of Sales) Sales Adjusted EBITDA $197.9 $204.6 $12.3 $6.1 +3% Increase +2.9 pts Increase 3.1% 6.0% 1Q24 1Q25 1Q24 1Q25 Net Income and EPS Adjusted Net Income $2.4 Improved Resu
Slide 8: Segment Results Summary – 1Q25
Segment Results Summary – 1Q25 Sales Adjusted EBITDA ($ millions) ($ millions and % of Sales) $107.8 $96.1 FVS (11%) Decrease 2.9 Pts Improvement $3.6 $0.9 0.9% 3.8% 1Q24 1Q25 1Q24 1Q25 $90.1 $82.2 $17.0 $14.3 SV (9%) Decrease (1.5 Pts) Decrease 18.8% 17.3% 1Q24 1Q25 1Q24 1Q25 Operational focus drov
Slide 9: 2025 Full-Year Outlook
2025 Full-Year Outlook $870 to $970M • Assumes modest market recovery weighted toward the second half of the Sales +17% YoY at midpoint year for parcel and motorhome • Sales growth led by demand for infrastructure related products Adjusted $62 to $72M • Reflects positive financial impact of Blue Arc
Slide 10: Transaction Update
Transaction Update © THE SHYFT GROUP, INC. | Proprietary & Confidential
Slide 11: Combination Creates Leading Specialty Vehicles Company Positioned to Drive Outsized Growth
Combination Creates Leading Specialty Vehicles Company Positioned to Drive Outsized Growth MergeCo Scaled-up global specialty vehicles leader focused on attractive North 2025E Pro Forma (1)(2)(3) American market, with a strong European presence ~$2.2B ~$214M Expanded portfolio, shared innovation, an
Slide 12: On Track With Milestones Related to Proposed Merger Closing
On Track With Milestones Related to Proposed Merger Closing Combined company to be named “Aebi Schmidt Group” and expected new ticker symbol “AEBI” to be listed in the U.S. on the Nasdaq Successful syndication of the $600M credit facility with oversubscription + Transaction expected to close by
Slide 13: Thank you.
Thank you. © THE SHYFT GROUP, INC. | Proprietary & Confidential
Slide 14: Q&A Session
Q&A Session © THE SHYFT GROUP, INC. | Proprietary & Confidential
Slide 15: Appendix
Appendix © THE SHYFT GROUP, INC. | Proprietary & Confidential
Slide 16: Reconciliation of Non-GAAP Financial Measures
Reconciliation of Non-GAAP Financial Measures This presentation presents Adjusted EBITDA (earnings before interest, taxes, depreciation and amortization), adjusted net income, adjusted earnings per share, and free cash flow, each of which is a non-GAAP financial measure. We define Adjusted EBITDA as
Slide 17: Reconciliation of Non-GAAP Financial Measures
Reconciliation of Non-GAAP Financial Measures The Shyft Group, Inc. and Subsidiaries Consolidated Financial Summary (Non-GAAP) (In thousands, except per share data) The Shyft Group, Inc. and Subsidiaries Consolidated Financial Summary (Non-GAAP) (Unaudited) (In thousands) Three Months Ended March 31
Slide 18: Thank you.
Thank you. © THE SHYFT GROUP, INC. | Proprietary & Confidential