Allison Transmission Holdings, Inc. · NYSE:ALSN
Allison Transmission — Q1 2013 Earnings Presentation
12 slides from Allison Transmission's earnings presentation, Apr 29, 2013
Slide 1: Q1 2013 Earnings Release
Q1 2013 Earnings Release April 29, 2013 Lawrence Dewey, Chairman, President & Chief Executive Officer David Graziosi, Executive Vice President & Chief Financial Officer 1
Slide 2: Safe Harbor Statement
Safe Harbor Statement The following information contains, or may be deemed to contain, “forward-looking statements” (as defined in the U.S. Private Securities Litigation Reform Act of 1995). The words “believe,” “expect,” “anticipate,” “intend,” “estimate” and other expressions that are predictions
Slide 3: Non-GAAP Financial Information
Non-GAAP Financial Information We use Adjusted net income, Adjusted EBITDA, Adjusted EBITDA excluding technology-related license expenses, Adjusted EBITDA margin, Adjusted EBITDA margin excluding technology-related license expenses, adjusted free cash flow and free cash flow to evaluate our performa
Slide 4: Call Agenda
Call Agenda Q1 2013 Performance Full Year 2013 Guidance Update 4
Slide 5: Q1 2013 Performance Summary
Q1 2013 Performance Summary ($ in millions) Q1 2013 Q1 2012 % Variance Net Sales $457 $602 (24.0%) Gross Margin % 43.4% 47.2% (380 bps) Adjusted Net Income (1) $80 $144 (44.8%) Adjusted Free Cash Flow (1) $48 $120 (59.9%) Commentary Net Sales: the decrease was principally driven by considerably lowe
Slide 6: Q1 2013 Sales Performance
Q1 2013 Sales Performance ($ in millions) End Markets Q1 2013 Q1 2012 % Variance Commentary North America On-Hwy $188 $219 (14%) Decreased commercial vehicle production Decreased demand driven by municipal subsidy North America Hybrid- and spending constraints, engine emission Propulsion Systems for
Slide 7: Q1 2013 Financial Performance
Q1 2013 Financial Performance ($ in millions, except share data) Q1 2013 Q1 2012 $ Var % Var Commentary Net Sales $457.4 $601.9 ($144.5) (24.0%) Decrease was principally driven by considerably lower demand in the North America energy sector’s hydraulic fracturing market, relative to the same period
Slide 8: Q1 2013 Cash Flow Performance
Q1 2013 Cash Flow Performance ($ in millions) Q1 2013 Q1 2012 $ Variance % Variance Commentary Net Cash Provided by Principally driven by decreased $55 $140 ($85) (60.8%) net sales Operating Activities Principally driven by the 2012 expansion of our India facility and lower product initiatives spend
Slide 9: Full Year 2013 Guidance Update
Full Year 2013 Guidance Update Guidance Commentary Consistent with our previous guidance we expect low levels of demand in the North America energy sector's hydraulic fracturing market, reductions in U.S. defense spending to longer term averages experienced during periods without active conflicts an
Slide 10: Appendix: Non-GAAP Financial Information
APPENDIX Non-GAAP Financial Information 10
Slide 11: Non-GAAP Reconciliations (1 of 2)
Non-GAAP Reconciliations (1 of 2) Adjusted Net Income and Adjusted EBITDA reconciliation Three months ended Last twelve months $ in millions, Unaudited For the year ended December 31, March 31, ended March 31, 2009 2010 2011 2012 2012 2013 2013 Net (loss) income ($323.9) $29.6 $103.0 $514.2 $58.0 $2
Slide 12: Non-GAAP Reconciliations (2 of 2)
Non-GAAP Reconciliations (2 of 2) Adjusted Free Cash Flow reconciliation Last twelve Three months ended months ended $ in millions, Unaudited For the year ended December 31, March 31, March 31, 2009 2010 2011 2012 2012 2013 2013 Net Cash Provided by Operating Activities $168.7 $388.9 $469.2 $497.5 $
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