Titan International, Inc. (de) · NYSE:TWI
Titan International, Inc. (de) — Q2 2025 Earnings Presentation
27 slides from Titan International, Inc. (de)'s earnings presentation, Jul 31, 2025
Slide 1: Investor Presentation – July 2025
INVESTOR PRESENTATION – JULY 2025 NYSE: TWI
Slide 2: Forward-Looking Statements & Non-GAAP Metrics
Forward-Looking Statements & Non-GAAP Metrics Forward-Looking Statements The accompanying material includes forward-looking comments and information concerning the company’s expectations and objectives for the future. Readers of this material should understand that these forward-looking statements a
Slide 3: Titan International Overview
Titan International Overview W H Y W E M AT T E R • We produce equipment to help farmers feed the world, outdoor enthusaists get the most out of their equipment, construction operators develop projects & miners extract resources. • We have cultivated longstanding relations with blue-chip OEM custome
Slide 4: Strategic Actions Have Elevated The Baseline
Strategic Actions Have Elevated The Baseline Multi-Year Strategic Transformation Titan including Carlstar have 4 proven earnings power of ~$250M to $300M Adjusted Carlstar 3 EBITDA mid-cycle Acquisition Product 2 Innovation New Titan Operational 1 Excellence Foundation Focus on Core ✓ Optimized Prod
Slide 5: Enhanced Financial Performance Vs. Prior Cyclical Troughs
Enhanced Financial Performance Vs. Prior Cyclical Troughs Adj. Gross Margin +210 BPS 16.6% 16.8% 14.6% • TTM production volume is more than 15% 13.3% 13.4% 11.3% 11.6% 12.0% below the prior cyclical trough (2019 – 10.4% 8.9% 2020) levels. • Despite the significant volume reduction, 2016 2017 2018 20
Slide 6: Path to $250M Midcycle Adj. EBITDA
Path to $250M Midcycle Adj. EBITDA Return To Midcycle Volumes Synergies + Growth Initiatives Revenue ~$500M Revenue ~$100M Gross Profit ~$125M Gross Profit ~$25M Gross Margin ~25% Gross Margin ~25% Adj. EBITDA ~$125M Adj. EBITDA ~$25M Assumptions: Assumptions: ❑ Revenue growth of ~$500M from current
Slide 7: TWI Key Investment Points
TWI Key Investment Points • Long-standing relationships with blue-chip OEMs, aftermarket dealers, and consumers Global Market • Globally recognized brands for quality and innovation Leadership Titan’s Strong Foundation • World –class production and engineering capabilities coupled with unmatched too
Slide 8: Unmatched Global Footprint, High Barriers to Entry
Unmatched Global Footprint, High Barriers to Entry Serving customers regionally and locally provides significant competitive advantage North America ⚫ Quincy, IL West-Chicago, IL (Corporate ⚫ headquarters) ⚫ Bryan, OH ⚫ Winston-Salem, NC ⚫ Des Moines, IA ⚫ Graniteville, SC ⚫ Elkhorn, WI ⚫ Kent, WA $
Slide 9: Driving Organic Growth
Driving Organic Growth ▪ Strategic Supplier Sourcing – expanding into new One Stop Shop product categories by leveraging capabilities of strategic partners ▪ M&A Revenue Synergies – expansion of Carlstar products into new geographies (LATAM & Europe) Strategic M&A and into legacy Titan dealer networ
Slide 10: Recent Industry Leading Product Innovation
Recent Industry Leading Product Innovation Deep culture of product development and innovation to meet customers’ evolving needs, translating to increased performance and financial benefits Agriculture Earthmoving / Construction Consumer Intersect SD 10 Turf Armor CSL 16 TRUST ITM Powersports Lawn an
Slide 11: Agriculture Segment
O7ITAN AGRICULTURE SEGMENT 11
Slide 12: Agriculture Segment
Agriculture Segment Ag Segment Facts Revenue ($M) & Adj. Gross Margin (%) ▪ Wheels, tires, and undercarriage components for use on a variety $1,500.00 50 of agricultural equipment Tires and wheels produced Revenue in North America, Europe 45 ▪ Wide range of wheel and tire sizes including the largest
Slide 13: Low Sidewall Technology (LSW)
Low Sidewall Technology® (LSW®) End-user enthusiasm and demand for industry leading technology remains high ▪ Superior Alternative to Tracks: ▪ Less Compaction: LSW equipped machines generate a more consistent and lower ground bearing pressure, equating to 25% less compaction in comparison to a trac
Slide 14: LSW – Improved Performance vs. Dual Tire Setup
LSW – Improved Performance vs. Dual Tire Setup CONVENTIONAL DUALS LSW “SUPER SINGLES” • Create deep compaction • 40% less inflation pressure zones jeopardizing yield vs. conventional duals means potential in pinch rows less soil compaction and improved crop yields • 3-foot wider turning radius vs. L
Slide 15: EMC Segment
O71TAN EMC SEGMENT 15
Slide 16: EMC Segment
EMC Segment EMC Segment Facts ▪ The majority of EMC revenue is undercarriage parts and complete Revenue ($M) & Adj. Gross Margin (%) undercarriage solutions under the premium ITM brand, which operates $1,200.00 50 globally in both the OEM and aftermarket channels Undercarriage parts produced in Euro
Slide 17: ITM Products and Customers
ITM Products and Customers OEM ITM Facts Undercarriage System ▪ 65% OE / 35% AM ▪ Full-service provider and manufacturer of ITM undercarriage systems and parts for the widest range of applications ▪ Significant blue-chip OEM customer base ▪ Flexible supply chain providing competitive advantages ▪ St
Slide 18: Consumer Segment
O7ITAN CONSUMER SEGMENT 18
Slide 19: Consumer Segment
Consumer Segment Consumer Segment Facts Revenue ($M) & Adj. Gross Margin (%) ▪ Acquisition of Carlstar added four manufacturing facilities and Tires and wheels produced twelve distributions centers Revenue $600.00 in North America and China and distributed globally ▪ Leading brands in off-road categ
Slide 20: Carlstar – Products/Markets
Carlstar – Products/Markets Ag. / Construction High Speed Trailer Outdoor Power Power Sports (17% of Sales) (29% of Sales) Equipment (17% of Sales) (37% of Sales) Select Applications Sample Products Carlstar - Sales by Market Segment Aftermarket / Original Equipment Manufacturer (“OEM”) 3% 14% Consu
Slide 21: Titan + Carlstar Growth and Synergy Opportunities
Titan + Carlstar Growth and Synergy Opportunities Synergy Area Description Collaborative • Sell Titan / Carlstar products to existing, non-overlapping customers Commercial Customer • Utilize portfolio of brands to create comprehensive brand strategy at multiple price points Relationships • Expand ge
Slide 22: Appendix
APPENDIX 22
Slide 23: Diverse, Global Revenue Base
Diverse, Global Revenue Base Revenue by Segment Revenue by Geography Other 8% Consumer 30% Agricultural Latin 40% America Revenue by Product 17% Revenue by Channel* Earthmoving/ U.S. Construction 51% (“EMC”) Europe/CIS 30% 24% Wheels 20% Original Equipment Tires Aftermarket ("OE") 55% Undercarriage
Slide 24: Carlstar Acquisition: Key Attributes
Carlstar Acquisition: Key Attributes ✓ ‘One Stop Shop’ – the Carlstar acquisition makes Titan a One Stop Shop; meaning Aftermarket customers can get tires across multiple product types from a single supplier; cutting down on complexity, and bringing them value from increased efficiency ✓ Innovative
Slide 25: FY EBITDA Reconciliation
FY EBITDA Reconciliation Adj. EBITDA Reconciliation | FY 2021-Jun’25 TTM ($ Millions) 2021 2022 2023 2024 Jun’25 TTM Net Income / (Loss) 50 179 84 (4) (21) Provision for Income Taxes 1 23 26 12 (4) Interest Expense, Excluding Interest Income 32 31 29 36 37 Depreciation & Amortization 48 43 42 61 66
Slide 26: FY Gross Margin Reconciliation
FY Gross Margin Reconciliation Adj. Gross Margin Reconciliation | FY 2021-Jun’25 TTM ($ Millions) 2021 2022 2023 2024 Jun’25 TTM Gross Profit, as Reported 238 361 306 258 238 Gross Margin 13.3% 16.6% 16.8% 14.0% 13.3% Adjustments: Carlstar Inventory Fair Value Step-Up - - - 12 1 Asset Impairment - -
Slide 27: Investor Contact Information
Investor Contact Information Investor Relations Contacts: Alan Snyder Phone: 630-251-0589 alan.snyder@titan-intl.com Jeremy Hellman Phone: 212-836-9626 jhellman@equityny.com 27
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