Albany International Corporation · NYSE:AIN
Albany International — Q2 2018 Earnings Presentation
8 slides from Albany International's earnings presentation, Aug 6, 2018
Slide 1: Q2 Financial Performance
Q2 Financial PerformanceAugust 6, 2018 www.albint.com | AIN | #albint
Slide 2: 'Non-GAAP' Items and Forward-Looking Statements
‘Non-GAAP’ Items and Forward-Looking Statements This presentation contains the following non-GAAP measures:Percentage changes in net sales, excluding currency rate effects (for each segment, and the Company as a whole);Adjusted EBITDA (for each segment, and the Company as a whole; absolute and as a
Slide 3: Net Sales by Segment
Net Sales by Segment 3 (in thousands, except percentages) Net SalesThree Months endedJune 30, 2018 2017 PercentChange Impact of Changesin CurrencyTranslation Rates Increase /(decrease) due to ASC 606 Percent Changeexcluding Currency Rate and ASC 606 Effects Machine Clothing (MC) $162,635 $146,572 11
Slide 4: Gross Profit Margin by Quarter
Gross Profit Margin by Quarter 4 Includes 7.3% impact from profitability revision in two AEC contracts Machine Clothing Total Company 55% 50% 45% 40% 35% 30% 25% Q1 2017 Q2 2017 Q3 2017 Q4 2017 Q1 2018 Q2 2018 48.5% 48.3 % 48.5% 45.0% 47.4% 48.9% 38.2% 29.3% 35.8% 34.2% 35.5% 36.0%
Slide 5: Net Income (GAAP) and Adjusted EBITDA (non-GAAP) by Segment
Net Income (GAAP) and Adjusted EBITDA (non-GAAP) by Segment 5 Three Months ended June 30, 2018 (in thousands) Machine Clothing Albany Engineered Composites Corporate expenses and other Total Company Operating income/(loss) (GAAP) $50,843 $4,092 $(12,251) $42,684 Interest, taxes, other income/expense
Slide 6: Net Income (GAAP) and Adjusted EBITDA (non-GAAP) by Segment
Net Income (GAAP) and Adjusted EBITDA (non-GAAP) by Segment 6 Six Months ended June 30, 2018 (in thousands) Machine Clothing Albany Engineered Composites Corporate expenses and other Total Company Operating income/(loss) (GAAP) $81,613 $6,366 $(24,464) $63,515 Interest, taxes, other income/expense -
Slide 7: Earnings Per Share
Earnings Per Share 7 * Includes $0.31 million charge for AEC contract revisions Per share amounts (Basic) Three Months endedJune 30, 2018 2017 * Six Months endedJune 30, 2018 2017 * Net income attributable to the Company, as reported (GAAP) $0.94 $0.03 $1.26 $0.37 Adjustments: Restructuring expenses
Slide 8: Total Debt (GAAP) and Net Debt (non-GAAP)
Total Debt (GAAP) and Net Debt* (non-GAAP) $ thousands 8 * Total debt less cash see table 22 for reconciliation of total debt to net debt $600,000 $500,000 $400,000 $300,000 $200,000 $100,000 40 December 31, 2016 March 31, 2017 June 30, 2017 September 30, 2017 December 31, 2017 March 31, 2018 June 3