Gentherm Inc · NASDAQ:THRM
Gentherm — Q4 2019 Earnings Presentation
14 slides from Gentherm's earnings presentation, Feb 19, 2020
Slide 1: 2019 Fourth Quarter Results
2019 Fourth Quarter Results Gentherm, Inc. February 19, 2020 Exhibit 99.2
Slide 2: Forward-Looking Statement
Forward-Looking Statement Except for historical information contained herein, statements in this presentation are forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements represent Genthe
Slide 3: Non-GAAP financial measures
In addition to the results reported in accordance with GAAP throughout this presentation, the Company has provided information regarding Adjusted EBITDA, Adjusted EPS, free cash flow and adjusted operating expenses (as a % of revenue), each a non-GAAP financial measure. The Company defines Adjusted
Slide 4: 2019 Highlights
Delivered record annual Free Cash Flow* in company history 2019 Highlights Significantly outperformed the automotive market $1.5B in Automotive awards Double-digit revenue growth in Medical Continued progress on Fit-for-Growth and Margin Expansion activities Completed all the exits and divestures un
Slide 5: Automotive 4Q 2019 Highlights
28 Vehicle launches with 17 OEMs Multiple CCS® product launches Buick EnclaveGenesis GV80 Land Rover Defender Hyundai Sonata SAIC Maxus Datong First PHEV battery heating leveraging proprietary technology launched on the Jeep Renegade with LG Chem Continued Progress on ClimateSenseTM development proj
Slide 6: Automotive Awards
Record $560M in awards in 4Q across 18 OEMs Multiple CCS® awards FAW-VWFCAGeneral Motors HondaHyundaiMazda PSASAICSubaru Steering Wheel Heater awards across 8 OEMs First BEV Cell Connecting Board award leveraging proprietary technology with a Premium German OEM Significant Electronics wins with Ford
Slide 7: Industrial 4Q 2019 Highlights
Industrial 4Q 2019 Highlights Well positioned to continue to grow the Medical business Double digit fourth quarter growth leads to record full year revenue Continued Blanketrol® wins across U.S. and Asia Pacific regions Significant revenue growth from UV Treo, a new cardiovascular heater/cooler devi
Slide 8: Selected Income Statement Data
Selected Income Statement Data Three Months Ended December 31, Year Ended December 31, 2019 2018 2019 2018 (In thousands, except per share data) Product Revenues $ 230,381 $ 256,015 $ 971,684 $1,048,505 Gross Margin 65,622 70,820 288,335 304,858 Gross Margin % 28.5% 27.7% 29.7% 29.1% Operating Expen
Slide 9: Selected Balance Sheet Data
Selected Balance Sheet Data December 31, 2019 December 31, 2018 (In thousands) Cash and Cash Equivalents $ 50,448 $ 39,620 Restricted cash 2,500 Total Assets 727,386 803,047 Debt Current 2,500 3,413 Non-Current 78,124 136,477 Revolving LOC Availability 403,378 221,871 Total Liquidity 456,326 261,491
Slide 10: 2020 Guidance
2020 Guidance 2020 Guidance * Due to the inherent difficulty of forecasting the timing and amount of certain items that would impact net income, such as foreign currency gains and losses, we are unable to reasonably estimate net income, the GAAP financial measure most directly comparable to Adjusted
Slide 11: Gentherm
((l)) GENTHERM Proprietary ® Gentherm2020 11
Slide 12: Reconciliation of Net Income to Adjusted EBITDA
Reconciliation of Net Income to Adjusted EBITDA Three Months Ended December 31, Year Ended December 31, Year Ended December 31, 2019 2017 2018 2019 2018 2017 2018 (In thousands, except per share data) Net income (loss) $ 10,454 $ (5,242) $ 12,629 $ 37,506 $ 41,899 Add Back: Income tax expense 2,431
Slide 13: Reconciliation of Adjusted EPS
Reconciliation of Adjusted EPS Three Months Ended December 31, Year Ended December 31, 2019 2018 2019 2018 Diluted EPS - As Reported $ 0.32 $ 0.36 $ 1.13 $ 1.16 Acquisition transaction expenses - - 0.01 - Non-cash purchase accounting impacts 0.08 0.10 0.30 0.37 Unrealized currency (gain) loss 0.07 0
Slide 14: Technology to the next degree
[GENTHERM LOGO] Technology to the next degreeTM