Teleflex Incorporated · NYSE:TFX
Teleflex — Friedman Billings Ramsey Growth Conference 2005
16 slides from Teleflex's conference presentation, Jun 1, 2005
Slide 1: Friedman Billings Ramsey Growth Conference
Friedman Billings Ramsey Growth Conference June 1, 2005 Jeffrey P. Black, President and CEO Martin S. Headley, Executive Vice President and CFO
Slide 2: Forward Looking Statements
Forward Looking Statements This presentation and our discussion contain forward-looking information and statements including, but not limited to, such matters as business strategies, market trends, future financial performance, forecast of diluted earnings per share, forecast of cash flow from opera
Slide 3: Teleflex at a Glance
Teleflex at a Glance Solid fundamentals with growing top line, improving margins, solid balance sheet, accelerating cash flow Proactive portfolio management, divesting non-core businesses while selectively adding to new growth platforms Actively improving cost structure through restructuring and sha
Slide 4: Teleflex - Engineered Products for Niche Markets
Teleflex - Engineered Products for Niche Markets Major Markets Products Automotive Marine Mobile power Truck and bus Heavy-lift Agriculture / construction Hospitals Home health Medical device manufacturers Commercial Military Industrial Driver Controls - gearshift systems, control cables, throttles,
Slide 5: Commercial Segment at a Glance
Commercial Segment at a Glance 2004 Revenues: $1.2 billion 2004 Core Growth: 8% Growth Drivers: Industrial and economic activity New product development - ergonomics, electronics, safety, emission control Adoption of new technologies for power and energy management Strategic Focus: Pare commodity pr
Slide 6: Aerospace Segment at a Glance
Aerospace Segment at a Glance 2004 Revenues: $453 million Growth Drivers: New build rate for aircraft engines Passenger to freighter conversions Global cargo market growth Improved market conditions Strategic Focus: Capitalize on leading share in cargo market and aftermarket services Realign busines
Slide 7: Medical Segment at a Glance
Medical Segment at a Glance 2004 Revenues: $746 million [2004 proforma revenues including full year of Hudson RCI - $844 million ] 2004 Core Growth: 6% Growth Drivers: Demographics/population growth Improving worldwide medical standards New medical technology/new procedures Strategic Focus: Margin i
Slide 8: Teleflex Medical - a Portfolio of Trusted Brands
Teleflex Medical - a Portfolio of Trusted Brands $ in Millions Medical Segment Revenue Growth 1998-2004 Building a global network to support major disease states - Cardiovascular, Orthopedic, Respiratory, Urology Investing in innovation to expand core technologies
Slide 9: Teleflex Medical - Diverse Specialty Products
Teleflex Medical - Diverse Specialty Products 63% of Segment Revenues 31% of Segment Revenues 6% of Segment Revenues Instruments and Devices ^ Spinal Instruments Guidewires Sutures Microcatheters Disposable Products ^ Aerosol Therapy Humidification Airway Management Catheters Instrumentation Closure
Slide 10: Services for Medical Device Industry
Services for Medical Device Industry Leverage technologies to meet customers' non-core business requirements Provide custom-design and outsourcing services Fast-growing specialties Specialty Devices: - Orthopedic fixation - Sutures for heart valves - Vascular closure - Introducer sheaths/Dilators -
Slide 11: Restructuring and Divestiture Program
Restructuring and Divestiture Program Kickoff: November 2004 Timeframe: 12^18 months Objectives: Reduce and ultimately eliminate losses from problem businesses - automotive pedal systems discontinued, exited industrial gas turbine services Consolidate manufacturing facilities and back office adminis
Slide 12: Portfolio Transition Program
Portfolio Transition Program Exits and Divestitures, 2004 - 2005 Date Company 2Q'04 Techsonic - fishfinders National Strand - wire rope Uniflex - automotive cables 3Q '04 IGT parts product line Automotive parts product line 4Q '04 Medical product line 1Q '05 IGT services Sermatech - coatings Industr
Slide 13: 2005 Outlook
2005 Outlook Reported diluted earnings per share from continuing operations: $1.69 Restructuring costs: 1.12 Certain charges: 0.28 Gain on sale of assets: (0.04) Q1 2005 Sermatech divestiture impact on 2004 diluted EPS: (0.07) Diluted EPS from continuing operations excluding special charges: $2.98 2
Slide 14: Accelerating Cash Flow
Accelerating Cash Flow Trailing twelve months operating and free cash flow Trailing twelve months operating and free cash flow Trailing twelve months operating and free cash flow Mar 2005 Dec 2004 Dec 2004 Sep 2004 Sep 2004 Jun 2004 Mar 2004 Operating Cash Flow $295.4 $254.5 $254.5 $255.0 $255.0 $23
Slide 15: Strong Balance Sheet for Future Growth
Strong Balance Sheet for Future Growth Net Debt to Capital Mar 2005 Dec 2004 Sep 2004 Jun 2004 Calculation of Net Debt Current Borrowings $57.6 $101.9 $112.9 $172.3 Long Term Borrowings 654.1 685.9 688.2 205.7 Total Debt 711.7 787.8 801.1 378.0 Less: Cash and Cash Equivalents 165.4 116.0 102.6 81.5
Slide 16: Summary
Actions initiated in 2004 creating a foundation for future growth Summary Solid fundamentals Proactive portfolio management Actively improving cost structure through restructuring and shared services initiatives Generating strong cash flow to invest in new opportunities Growing Medical Segment with
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