Slide 1: 2014 Second-Quarter Financial Results
Tredegar as 2 2014 Second-Quarter Financial Results
Slide 2: Forward-Looking Statements
Forward-Looking Statements Certain statements contained in this presentation are forward-looking statements. Pursuant to federal securities regulations, we have set forth cautionary statements relating to those forward-looking statements in our Annual Report on Form 10-K for the year ended December
Slide 3: 2014 Second Quarter Financial Results
Tredegar Corporation 2014 Second Quarter Financial Results ($ in millions, except EPS) 2Q 2014 2Q 2013 Net Sales! $230.6 $236.1 Net Income from $11.1 $9.7 Ongoing Operations? Diluted EPS from $0.34 Ongoing Operations? 1 See Note 1 in Supplemental Information for mare information and a reconciliation
Slide 4: Second Quarter Net Sales and Net Income
Tredegar Corporation Second Quarter Net Sales and Net Income 2Q 2014 net income from ongoing operations? of $11.1MM Combined segment operating profit? from ongoing operations of $23.0MM was consistent with prior year Non-cash pension expense $1.6MM favorable to prior year Effective tax rate for net
Slide 5: Film Products 2014 Second Quarter Results
Tredegar Film Products 2014 Second Quarter Results 2nd Quarter Performance (in millions) 2aa as NN Volume (Ibs.) 607 688 (123% Net Sales! $146.0 $158.3 (8)% Operating Profit? $15.0 $18.7 (20% Adj. EBITDA? $23.2 $28.3 (18)% Performance Drivers + Lower North American baby care elastic laminate volume
Slide 6: Bonnell Aluminum 2014 Second Quarter Results
Bonnell Aluminum 2014 Second Quarter Results 2nd Quarter Performance az (in millions) 2014 = 2Q13 Volume (bs.) 38.2 36.1 6% Net Sales" $845 $77.9 9% Operating Profit? $8.1 43 87% Adj. EBITDA? $10.7 $6.6 62% Performance Drivers + Volume up with growth in all major end-use markets; nonresidential B&C
Slide 7: Other 2014 Year-to-Date Financial Highlights
Tredegar Corporation Other 2014 Year-to-Date Financial Highlights $ Millions, except percentages Cash Flows from Operations Capital Expenditures Dividends Paid Net Debt' Total Debt to Adjusted EBITDA? Net Debt to Total Capitalization’ ROIC* 1 See Note 4 in Supplemental Information for more informati
Slide 8: Outlook
Outlook Performance Targets 2014 20167 Film Products + Volume Change (10) - (7)% 5% + Flexible Packaging: New capacity begins to ramp up in the fourth quarter of 2014 + — Surface protection: Inventory corrections and minor loss of share in lower tier products + Personal Care: Growth (primarily from
Slide 9: GAAP Reconciliations
Tredegar ins > GAAP Reconciliations
Slide 10: Notes: Net sales reconciliation
Supplemental Information Notes Tredegar acquired Bright View Technologies Corporation on February 3, 2010, andits operations were incorporated into Fim Products efectve January 1, 2012. Prior year balances have been razed to conform with the current year prezentation Film Preducte result include the
Slide 11: Tredegar
10 Supplemental Information Notes Tredegar a ie
Slide 12: Notes (continued)
Supplemental Information Notes Notes (continued) a " ‘The atertax afects of areas associated with plant shutdown, aeze impaiments and retructuringe and gare of lee es ftom the sale of acsets and other tems (which includes unsealzed gains and losses for an investment accounted for unde the far value
Slide 13: Notes (continued): Net debt
Supplemental Information Notes Notes (continued): 4. Net debt is anon-GAAP financial measure that is not intended to represent debt as defined by GAAP, but is utlized by management in evaluating financial leverage and equity valuation. A calculation of net debt is shown below. (n millions) June 30,
Slide 14: Notes (continued): Operating profit from ongoing operations
Supplemental Information Notes Notes (ortinued} 8 13 ‘Operating prot fom ongoing operations i used by managementto aezess proftabity. Araconlistion of operating proft fom ongoing operations to net income is show below: um Operating pratt loss zi 208 zor 2019 | oz 022014 | aun 2014 ‘in thousandés) Fi
Slide 15: Notes (continued): ROIC
Supplemental Information Notes Notes (continued) 7. Retum onimested pital (ROIC)isdetred by Tredagar as Aajusted Net Reeme fom Ongoing Operations died by erage huested Capital here theind dual components are defned as blows: ‘Adjusted Nt Income fom Oraeing Operations equals Income fom Ongoing Operat
Slide 16: Notes (continued)
Supplemental Information Notes Notes (continued): 8 The pretax and attertax efects oflosses associated with plant shutdowns, asset impairments and restructurings and gains or losses fm the sale of assets and other items (which includes unrealized gains and losses for an investment accounted for unde
Slide 17: 2014 Mid-Year Financial Results Review
Tredegar as 2 2014 Mid-Year Financial Results Review August 8, 2014