Manitowoc Company, Inc. (the) · NYSE:MTW
Manitowoc Company, Inc. (the) — Q3 2020 Earnings Presentation
11 slides from Manitowoc Company, Inc. (the)'s earnings presentation, Nov 5, 2020
Slide 1: Third-Quarter 2020 Earnings Conference Call
Third-Quarter 2020 Earnings Conference Call Aaron Ravenscroft– President & Chief Executive Officer November 5, 2020 David Antoniuk – EVP & Chief Financial Officer Ion Warner – VP Marketing & Investor Relations
Slide 2: Forward-Looking Statements
Forward-Looking Statements Safe Harbor Statement Any statements contained in this presentation that are not historical facts are “forward-looking statements.” These statements are based on the current expectations of the management of the company, only speak as of the date on which they are made, an
Slide 3: Financial & Other Key Metrics
Financial & Other Key Metrics Q3 2020 Q3 2019 Y/Y ∆ Net sales $ 355.6 $ 448.0 (20.6)% Engineering, selling & admin expenses 49.5 54.8 (9.7)% Operating income 11.7 32.5 (63.9)% Adjusted operating income (1) 15.6 33.9 (54.0)% Net income (loss) (0.4) 18.0 (102.0)% Adjusted net income (1) 3.5 19.1 (81.7
Slide 4: Market Conditions
Market Conditions Americas • Continued headwinds - COVID-19, election, dealer inventory levels and oil prices • Wind energy market benefiting crawlers • Broad industry recovery unlikely until mid-2021 at the earliest EURAF • Region with most uncertain outlook • Resurgence of COVID-19 - severe lockdo
Slide 5: Growth Strategy: EU Tower Crane Market
Growth Strategy: EU Tower Crane Market Parts Benefits of Rental Fleet • New sales bundles New Cranes • Recurring rental Rental revenue • Less cyclical • Used crane growth Service • Service sales expansion Used Cranes • Attractive returns Source: MTW estimates 5
Slide 6: Appendix
Q@anitowoc Appendix
Slide 7: Appendix
Q3 2017 4 2017 Qi 2018 Q2 2018 Q3 2018 Q4 2018 Qi 2019 Q2 2019 Q3 2019 Q4 2019 Qi 2020 Q2 2020 Q3 2020 Ending Backlog ——Orders Orders i i 1 1 1 i 1 Q3 2017 Q4 2017 Qi 2018 Q2 2018 Q3 2018 Q4 2018 Qi 2019 Q2 2019 Q3 2019 Q4 2019 Qi 2020 Q2 2020 a3 2020 Revenue ——Adj EBITDA% 12.0% 10.0% 4.0% 0.0% Q@an
Slide 8: Appendix
Appendix (1) Q1 2019 and forward reflects termination of Manitowoc’s accounts receivable securitization program 8
Slide 9: Appendix - Adjusted EBITDA Reconciliation
Appendix- Adjusted EBITDA Reconciliation 9
Slide 10: Appendix - Non-GAAP Financial Measures
Appendix- Non-GAAP Financial Measures 10
Slide 11: Appendix - Non-GAAP Financial Measures
Appendix- Non-GAAP Financial Measures 11