Albany International Corporation · NYSE:AIN
Albany International — Q1 2017 Earnings Presentation
7 slides from Albany International's earnings presentation, May 4, 2017
Slide 1: Q1 Financial Performance
Q1 Financial PerformanceMay 4, 2017
Slide 2: Non-GAAP Items and Forward-Looking Statements
‘Non-GAAP’ Items and Forward-Looking Statements This presentation contains the following non-GAAP measures: • Percentage changes in net sales, excluding currency rate effects (for each segment, and the Company as a whole); • Adjusted EBITDA (for each segment, and the Company as a whole; absolute and
Slide 3: Net Sales by Segment
Net Sales by Segment (in thousands, except percentages) Net Sales Three Months ended March 31, 2017 2016 Percent Change Impact of Changes in Currency Translation Rates Percent Change excluding Currency Rate Effect Machine Clothing (MC) $142,827 $145,264 -1.7% ($2,122) - 0.2% Albany Engineered Compos
Slide 4: Gross Profit Margin by Quarter
Gross Profit Margin by Quarter Percentage of Net Sales 47.9% 47.6% 47.5% 46.8% 48.5% 42.1% 38.5% 37.9% 36.3% 38.1% 30% 35% 40% 45% 50% 55% Q1 2016 Q2 2016 Q3 2016 Q4 2016 Q1 2017 Machine Clothing Total Company 4
Slide 5: Adjusted EBITDA Reconciliation by Segment
Three Months ended March 31, 2017 (in thousands) Machine Clothing Albany Engineered Composites Corporate expenses and other Total Company Operating income/(loss) (GAAP) $38,261 $(5,114) ($11,091) $22,056 Interest, taxes, other income/expense - - (11,082) (11,082) Net income (GAAP) 38,261 (5,114) (22
Slide 6: Earnings Per Share
6 Earnings Per Share Per share amounts (Basic) Three Months ended March 31, 2017 2016 Net income attributable to the Company, as reported (GAAP) $0.34 $0.42 Adjustments: Restructuring expenses, net 0.05 0.01 Discrete tax adjustments 0.03 (0.03) Foreign currency revaluation losses 0.04 0.03 Acquisiti
Slide 7: Total Debt (GAAP) and Net Debt (non-GAAP)
7 Total Debt (GAAP) and Net Debt* (non-GAAP) $ thousands $500,000 $450,000 $400,000 $350,000 $300,000 $250,000 $200,000 $150,000 $100,000 $50,000 December 31, 2015 March 31, 2016 June 30, 2016 September 30, 2016 December 31, 2016 March 31, 2017 Net Debt Total Debt *Total debt less cash see table 12