Gentherm Inc · NASDAQ:THRM
Gentherm — Q3 2019 Earnings Presentation
14 slides from Gentherm's earnings presentation, Oct 29, 2019
Slide 1: 2019 Third Quarter Results
2019 Third Quarter Results Gentherm, Inc. October 29, 2019 Exhibit 99.2
Slide 2: Forward-Looking Statement
Forward-Looking Statement Except for historical information contained herein, statements in this presentation are forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements represent Genthe
Slide 3: Use of Non-GAAP Financial Measures
In addition to the results reported in accordance with GAAP throughout this presentation, the Company has provided information regarding adjusted earnings before interest, taxes, depreciation and amortization (“Adjusted EBITDA”) and adjusted earnings per share (“Adjusted EPS”), each, a non-GAAP fina
Slide 4: Recent Highlights
Recent Highlights Continued progress on Focused Growth and margin expansion activities Continue to outperform the Automotive market $2.5B Automotive awards in last 7 quarters Double-digit revenue growth in Medical year to date Achieved highest Gross Margin rate in 9 quarters Increased year-to-date O
Slide 5: Automotive 3Q 2019 Highlights
32 Vehicle launches with 18 OEMs Multiple CCS® product launches Ford F250 Lincoln MKC Subaru Legacy and Outback Launched CCS® Active on Land Rover Defender Strategic multi-function ECU launch with Changan Company’s first BEV Cell Connecting technology launched on the BMW MINI Electric Consistently o
Slide 6: Automotive 3Q 2019 Awards
$270M in awards across 18 OEMs Multiple CCS® awards Buick Enclave Hyundai Starex Kia Optima Mercedes AMG SL and GT Steering Wheel Heater awards across 6 OEMs Significant growth in awards in Asia led by Great Wall and Kia Automotive 3Q 2019 Awards Building a solid foundation for future growth
Slide 7: Industrial 3Q 2019 Highlights
Industrial 3Q 2019 Highlights Well positioned to grow the Medical business Launched Stihler intravenous fluid warmers in the U.S. Secured Blanketrol® awards from several large U.S. hospital systems Continued progress on new product development Divested the GPT business on October 1
Slide 8: Selected Income Statement Data
Selected Income Statement Data Three Months Ended September 30, Nine Months Ended September 30, 2019 2018(1) 2019 2018(1) (In thousands, except per share data) Product Revenues $ 240,056 $ 261,504 $ 741,303 $ 792,490 Gross Margin 74,692 75,704 222,713 234,038 Gross Margin % 31.1% 28.9% 30.0% 29.5% O
Slide 9: Selected Balance Sheet Data
Selected Balance Sheet Data September 30, 2019 December 31, 2018 (In thousands) Cash, Cash Equivalents and Restricted Cash $ 47,704 $ 39,620 Total Assets 737,671 803,047 Debt 99,623 139,890 Current 2,500 3,413 Non-Current 97,123 136,477 Revolving LOC Availability 385,129 221,871 Total Liquidity 432,
Slide 10: 2019 Guidance
2019 Guidance Updating 2019 Guidance (1) Due to the inherent difficulty of forecasting the timing and amount of certain items that would impact net income, such as foreign currency gains and losses, we are unable to reasonably estimate net income, the GAAP financial measure most directly comparable
Slide 11: Technology to the next degree
Technology to the next degree™
Slide 12: Gentherm
((l)) GENTHERM Proprietary © Gentherm2019 12
Slide 13: Reconciliation of Net Income to Adjusted EBITDA
Reconciliation of Net Income to Adjusted EBITDA Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 (In thousands) Net Income $ 15,887 $ (355) $ 27,052 $ 29,270 Add Back: Income Tax Expense 6,771 3,688 19,214 9,807 Interest Expense 1,148 1,241 3,756 3,661 Depreciatio
Slide 14: Reconciliation of Adjusted EPS
Reconciliation of Adjusted EPS Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 Diluted EPS - As Reported $ 0.48 $ (0.01) $ 0.81 $ 0.80 Acquisition Transaction Expenses - - 0.01 - Non-Cash Purchase Accounting Impacts 0.08 0.10 0.22 0.23 Unrealized Currency (Gain)/