Gentherm Inc · NASDAQ:THRM
Gentherm — Q4 2022 Earnings Presentation
11 slides from Gentherm's earnings presentation, Feb 22, 2023
Slide 1: 2022 Fourth Quarter & Full Year Results
Proprietary © Gentherm 2023 2022 Fourth Quarter & Full Year Results FEBRUARY 22, 2023 Exhibit 99.2
Slide 2: Forward-Looking Statement
Forward-Looking Statement Proprietary © Gentherm 2023 Except for historical information contained herein, statements in this presentation are forward-looking statements that are made by Gentherm Incorporated (the “Company”) pursuant to the safe harbor provisions of the Private Securities Litigation
Slide 3: Use of Non-GAAP Financial Measures
Use of Non-GAAP Financial Measures* Proprietary © Gentherm 2023 In addition to the results reported herein in accordance with GAAP, the Company has provided here or may discuss on the related conference call Adjusted Operating Expense, Adjusted EBITDA, Adjusted EBITDA margin, Adjusted EBITDA excludi
Slide 4: 2022 Highlights
2022 Highlights Proprietary © Gentherm 2023 4 Strong execution despite challenging environment; outpacing market 02 Record company revenue 01 Significantly outperformed the automotive market 03 Completed acquisitions of Alfmeier and Dacheng Medical; integration and synergy ahead of plan $1.8B i
Slide 5: Fourth Quarter 2022 Highlights
Fourth Quarter 2022 Highlights Proprietary © Gentherm 2023 5 Record revenue driven by accelerating adoption of thermal and pneumatic solutions with global OEMs $560M 20 Steering Wheel Heater awards across 7 OEMs 12 in Automotive new business awards Vehicle launches with 11 OEMs Expanded business wit
Slide 6: Select Income Statement Data
Select Income Statement Data Proprietary © Gentherm 2023 6 2022 2021 2022 2021 Product Revenues $343,322 $248,226 $1,204,656 $1,046,150 Automotive 332,046 237,130 1,161,616 1,004,633 Medical 11,276 11,096 43,040 41,517 Gross Margin 69,808 67,362 273,650 303,631 Gross Margin % 20.3% 27.1% 22.7% 29.0%
Slide 7: Select Balance Sheet Data
Select Balance Sheet Data Proprietary © Gentherm 2023 7 December 31, 2022 December 31, 2021 Cash and Cash Equivalents $153,891 $190,606 Total Assets 1,239,300 935,343 Debt 235,096 38,750 Current 2,443 2,500 Non-Current 232,653 36,250 Revolving LOC Availability 264,904 440,000 Total Liquidity 418,795
Slide 8: 2023 Guidance
2023 Guidance Proprietary © Gentherm 2023 8 2022 A 2022 Proforma 2023 E Product Revenue (1)(2) $1.2B $1.3B $1.45B - $1.55B Adjusted EBITDA Margin excluding non-cash stock-based compensation expenses (1)(2)(3)(4) 11.4% 10.4% 11.5% – 13.5% Adjusting EBITDA Margin as reported 10.8% 9.8% Effective Tax R
Slide 9: Appendix
Appendix Proprietary © Gentherm 2023
Slide 10: Reconciliation of Adjusted EBITDA and Adjusted EBITDA Margin
Reconciliation of Adjusted EBITDA and Adjusted EBITDA Margin Proprietary © Gentherm 2023 10 2022 2021 2022 2021 Net (Loss) Income $(4,205) $20,048 $24,441 $93,434 Add Back: Income Tax (Benefit) Expense (57) 2,459 13,941 20,418 Interest Expense 3,009 574 4,294 2,758 Depreciation and Amortization 13,7
Slide 11: Reconciliation of Adjusted EPS
Reconciliation of Adjusted EPS Proprietary © Gentherm 2023 11 2022 2021 2022 2021 Diluted EPS - As Reported $(0.13) $0.60 $0.73 $2.79 Acquisition Expenses 0.13 — 0.68 0.04 Non-Cash Purchase Accounting Impacts 0.10 0.06 0.29 0.25 Unrealized Currency Loss (Gain) 0.17 (0.05) 0.14 (0.09) Restructuring E