Dana Incorporated · NYSE:DAN

Dana — FY2008 Earnings Presentation

34 slides from Dana's earnings presentation, Mar 17, 2009

  1. Slide 1: Fourth-Quarter & Full-Year 2008 Earnings Conference Call

    March 16, 2009 Dana Holding Corporation Fourth-Quarter & Full-Year 2008 Earnings Conference Call

  2. Slide 2: To Print This Presentation

    To Print This Presentation ... Please visit: www.dana.com/investors

  3. Slide 3: Safe Harbor Statement

    Safe Harbor Statement Certain statements and projections contained in this presentation are, by their nature, forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on our current expectations, estimates and projections

  4. Slide 4: Agenda

    Agenda Introduction Steve Superits Vice President - Investment Management & Investor Relations Update on Key Issues John Devine and Initiatives Chairman & CEO Quarterly Financial Review Jim Yost Chief Financial Officer Q&A Session All

  5. Slide 5: 2008 Priorities

    2008 Priorities Rebuild the Team Achieved Jump Start Operations Achieved Strategic Issues Continuing Financial Performance & Plans Partial

  6. Slide 6: Aggressive 2009 Plan

    Aggressive 2009 Plan Right-size operations to new volumes Improve profits and operations Plant performance/reduce fixed costs Margin improvements Maintain adequate liquidity and profits Continue strategic initiatives Current portfolio New opportunities

  7. Slide 7: Quarterly Financial Review

    Quarterly Financial Review

  8. Slide 8: Financial Summary

    Financial Summary ($ in Millions) Actual vs. 2007 Actual vs. 2007 Sales $ 1,521 $ (636) $ 8,095 $ (626) EBITDA (3) (115) 301 (149) Net income (loss) (256) 1 18 569 Capital spend (86) 20 (250) 4 Free cash flow (50) (133) (381) (102) See supplemental slides for comments regarding the presentation of n

  9. Slide 9: Change in Sales (4Q 2008 vs. 2007)

    Change in Sales (4Q 2008 vs. 2007, $ in Millions) 2007 2008 Volume/Mix Margins Currency 2157 1521 -596 66 -106 ($636)

  10. Slide 10: Change in Sales (FY 2008 vs. 2007)

    Change in Sales (FY 2008 vs. 2007, $ in Millions) 2007 2008 Volume/Mix Margins Currency 8721 8095 -1022 140 256 ($626) $8,095 $8,721 ($1,022) $256 $140

  11. Slide 11: Change in EBITDA (4Q 2008 vs. 2007)

    Change in EBITDA (4Q 2008 vs. 2007, $ in Millions) 2007 2008 Volume/Mix Steel Cost Margins Cost Saving/ Ops. Improv. 112 -3 -136 -60 66 15 ($136) ($60) $15 See supplemental slides for comments regarding the presentation of non-GAAP measures and a reconciliation of EBITDA to income (loss) from contin

  12. Slide 12: Change in EBITDA (FY 2008 vs. 2007)

    Change in EBITDA (FY 2008 vs. 2007, $ in Millions) 2007 2008 Volume/Mix Steel Cost Margins Cost Saving/ Ops. Improv. 450 301 -245 -167 140 123 ($245) ($167) $123 See supplemental slides for comments regarding the presentation of non-GAAP measures and a reconciliation of EBITDA to income (loss) from

  13. Slide 13: Free Cash Flow

    Free Cash Flow (12 Months, $ in Millions) Actual vs. 2007 Actual vs. 2007 EBITDA $ (3) $ (115) $ 301 $ (149) Working Capital 177 (29) 5 (78) Capital Spend (86) 20 (250) 4 Interest & Taxes (46) (16) (191) (37) Realignment (45) (12) (110) 77 Reorganization & Other (47) 19 (136) 81 Free Cash Flow $ (50

  14. Slide 14: Net Debt

    Net Debt ($ in Millions) Cash - U.S. $ 336 International 441 Total cash 777 Term loan facility 1,266 Less OID (87) All other debt 72 Total debt 1,251 Net Debt $ 474 December 31, 2008

  15. Slide 15: Global Liquidity

    Global Liquidity ($ in Millions) Cash $ 777 Less: Deposits supporting obligations (76) Cash in less than wholly-owned subsidiaries (69) Available cash 632 Additional cash availability from: Lines of credit (U.S. and Europe) 212 Additional lines of credit supported by letters of credit from the Revol

  16. Slide 16: Debt Maturity Profile

    Debt Maturity Profile ($ in Millions) Other Debt Term Loan 2009 4 19 2010 3 18 2011 3 18 2012 2 15 2013 1 14 2014 2 964 2015 0 239 No Significant Near-Term Maturities Note: Reflects $150 M term loan payment in 2008 964 239 19 18 18 15 14

  17. Slide 17: U.S. Pension & OPEB Status

    U.S. Pension & OPEB Status Dana's U.S. pension liabilities frozen Plans are 92% funded at 12/31/08 Asset allocation at 12/31/08: 2008 portfolio return was -4.6% No cash contributions or expense projected in 2009 No retiree healthcare (VEBAs) U.S. and International Equities 17% Absolute Return 9% Lon

  18. Slide 18: Dana Revenues by Customer

    Dana Revenues by Customer Ford 0.17 GM 0.0584 Toyota 0.0538 Paccar 0.05 Navistar 0.04 Daimler 0.04 Volvo 0.0323 Nissan 0.03 Fiat 0.03 Chrysler LLC 0.0308 All Other 0.47 Ford GM Toyota Paccar Nissan Navistar Volvo Chrysler Fiat Daimler All Other 42% Non-Automotive F-150 F-250/350 Superduty Escape/Mar

  19. Slide 19: 2009 Global Vehicle Production

    2009 Global Vehicle Production Dana Forecasts (Units in 000s) North America Light Vehicle 12,650 8,900 - 10,000 Medium Truck 157 135 - 150 Heavy Truck 196 145 - 161 Europe (including E. Europe) Light Vehicle 21,260 16,300 - 17,100 Medium/Heavy Truck 749 584 - 607 South America Light Vehicle 3,800 3,

  20. Slide 20: 2009 Plan

    2009 Plan Corporate Right-size Operations Improve Operations Plant Performance Margin Improvement Maintain Adequate Liquidity & EBITDA Financial Global workforce reductions of more than 5,800 in 2009 35% workforce reduction since 2007 Conversion cost savings of $150M - $200M $160M - $250M EBITDA hig

  21. Slide 21: Headcount Trend Analysis

    Headcount Trend Analysis 2006 2007 2008 2009F N.A. 4478 4283 3779 2651 Total 8480 8232 7929 5967 Salary Headcount 2006 2007 2008 2009F N.A. 13880 13367 8887 6696 Total 26450 26728 20745 16882 Hourly Headcount Total Salary Down 30% N.A. Salary Down 41% Total Hourly Down 36% N.A. Hourly Down 52% Peopl

  22. Slide 22: Net New Business Backlog By Region

    Net New Business Backlog By Region 2009 2010 2011 2012 2013 N.America 33.9 88.9 98.4 93.2 70.7 S.America -8.3 84.3 74.6 75.8 75.9 Asia 15.8 41 52.8 59 61.9 Europe 45.7 68.5 81 93.8 100.4 Total $M: 385 302 230 389 $1,306 $ in Millions Total Note: Business wins/losses January 2008 through December 200

  23. Slide 23: Summary

    Summary Good progress in 2008 despite difficult climate Plans in place to manage difficult 2009 Priority to improve profit and cash flow in 2009 Continue strategic and growth initiatives

  24. Slide 24: Q&A Session

    ene Q&A Session

  25. Slide 25: Dana DAN Listed NYSE

    DANA DAN LISTED NYSE

  26. Slide 26: Supplemental Slides Non-GAAP Financial Information

    Supplemental Slides Non-GAAP Financial Information In connection with Dana's emergence from bankruptcy on January 31, 2008 and the application of fresh start accounting in accordance with the provisions of the American Institute of Certified Public Accountants' Statement of Position 90-7, the post-e

  27. Slide 27: (c) Dana Limited

    ($ in Millions) 27 (c) Dana Limited

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    28 (c) Dana Limited ($ in Millions)

  29. Slide 29: (c) Dana Limited

    29 (c) Dana Limited ($ in Millions)

  30. Slide 30: (c) Dana Limited

    30 (c) Dana Limited ($ in Millions)

  31. Slide 31: (c) Dana Limited

    31 (c) Dana Limited ($ in Millions)

  32. Slide 32: (c) Dana Limited

    32 (c) Dana Limited ($ in Millions)

  33. Slide 33: (c) Dana Limited

    33 (c) Dana Limited ($ in Millions)

  34. Slide 34: (c) Dana Limited

    34 (c) Dana Limited ($ in Millions)

Dana Holding — FY2008 Earnings Presentation on 6ix