INVESTOR PRESENTATION //// NOVEMBER 2015
SEATING FINISHING ACOUSTICS COMPONENTS
INVESTOR PRESENTATION //// NOVEMBER 2015 DISCLAIMER FORWARD - - PowerPoint PPT Presentation
SEATING FINISHING ACOUSTICS COMPONENTS INVESTOR PRESENTATION //// NOVEMBER 2015 DISCLAIMER FORWARD LOOKING STATEMENTS This presentation includes forward looking statements within the meaning of the safe harbor provisions of the
SEATING FINISHING ACOUSTICS COMPONENTS
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FORWARD LOOKING STATEMENTS This presentation includes “forward looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as “anticipate,” “believe,” “expect,” “estimate,” “plan,” “outlook,” and “project” and other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. Such forward looking statements with respect to revenues, earnings, financial information, performance, strategies, prospects and other aspects of the businesses of Jason Industries, Inc. (the “Company”) are based on current expectations that are subject to risks and uncertainties. A number of factors could cause actual results
The forward‐looking statements contained in this presentation are based on assumptions that we have made in light of our industry experience and our perceptions of historical trends, current conditions, expected future developments and other factors we believe are appropriate under the circumstances. The forward-looking statements are not guarantees of performance or results, as they involve risks, uncertainties (some of which are beyond our control) and
and cause them to differ materially from those anticipated in the forward-looking statements. More information on potential factors that could affect the Company’s financial condition and operating results is included in “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in the Company’s Annual Report on Form 10-K filed on March 11, 2015, and in the Company’s other filings with the Securities and Exchange Commission. Any forward‐looking statement made by the Company in this presentation speaks only as of the date on which we make it. We undertake no obligation to publicly update any forward‐looking statement, whether as a result of new information, future developments or otherwise, except as may be required by law. NON-GAAP AND OTHER COMPANY INFORMATION Included in this presentation are certain non-GAAP financial measures designed to complement the financial information presented in accordance with generally accepted accounting principles in the United States of America because management believes such measures are useful to investors. Because the Company’s calculations of these measures may differ from similar measures used by other companies, you should be careful when comparing the Company’s non-GAAP financial measures to those of other companies. A reconciliation of non-GAAP financial measures to GAAP financial measures is included in an appendix to this presentation.
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Employees ~4,000 Headquarters Milwaukee, WI 2014 Revenue $702.5 million 2014 Adjusted EBITDA $77.8 million Founded 1985 Listed on NASDAQ (JASN, JASNW) July 2014 Manufacturing 33 Sites in 12 Countries
$600.6 $655.0 $680.8 $702.5 $702 - $712 $400 $500 $600 $700 $800 ʼ11 ʼ12 ʼ13 ʼ14 ʼ15E $58.0 $70.5 $79.8 $77.8 $81 - $84 9.7% 10.8% 11.7% 11.1% 11.7% $0 $10 $20 $30 $40 $50 $60 $70 $80 $90 ʼ11 ʼ12 ʼ13 ʼ14 ʼ15E
NET SALES
($ in Millions)
ADJUSTED EBITDA
($ in Millions)
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ADJUSTED NET SALES EBITDA % SEATING 24% 15% FINISHING 27% 14% ACOUSTICS 31% 9% COMPONENTS 18% 14%
2014 JASON PORTFOLIO 2014 GEOGRAPHIC BUSINESS MIX
NET SALES U.S. 72% EUROPE 19% MEXICO 7% ROW 2%
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SHAREHOLDER VALUE CREATION
ORGANIC GROWTH & ACQUISITIONS TALENT DEVELOPMENT
IDENTIFYING ATTRACTIVE INDUSTRY POSITIONS PORTFOLIO MANAGEMENT & PRIORITIZATION ORGANIC GROWTH & ACQUISITIONS DEPLOY BEST-IN-CLASS BUSINESS PROCESSES EXECUTION TALENT DEVELOPMENT
resources to attractive investments and shareholder returns
to provide synergies and earnings growth
development
to acquisitions
businesses
“Lean Culture”
achieve results
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ADDRESSABLE MARKET(1)
WORLDWIDE
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United States 95% (1) Management estimates
$165 $163 $165 $172 15% 14% 15% 15% $0 $50 $100 $150 $200 ʼ11 ʼ12 ʼ13 ʼ14
FINANCIAL PROFILE
Adjusted EBITDA % Revenue ($ in millions)
2014 REVENUE BY GEOGRAPHY
2014 REVENUE BY END PRODUCT U.S. 95% EUROPE 5% TURF EQUIPMENT 37% MOTORCYCLE OEM 19% MOTORCYCLE AFTERMARKET 10% CONSTRUCTION & AGRICULTURE 17% MATERIAL HANDLING 11% UTILITY VEHICLES 4% MARINE 2%
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insulation and a leading producer of automotive fiber-based molded and die-cut products
including the majority of top platforms
since 2010
fiber automotive underbodies
ADDRESSABLE MARKET(1)
IN NORTH AMERICA
U.S. 64% MEXICO 22% EUROPE 14% DIE CUT INSULATION 24% MOLDED INSULATION 18% TRUNK SYSTEMS 21% IP CLOSEOUTS 10% CARPET SYSTEMS 10% OTHER 12% ENGINE 3% WHEEL LINERS 2%
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2014 REVENUE BY GEOGRAPHY 2014 REVENUE BY END PRODUCT
$145 $172 $204 $219 6% 8% 11% 9% $0 $50 $100 $150 $200 $250 ʼ11 ʼ12 ʼ13 ʼ14
FINANCIAL PROFILE
Adjusted EBITDA % Revenue ($ in millions)
WORLDWIDE
(1) Management estimates
Wheelhouse/ Cowl Under Bonnet Hush Panels Dashboard Insulators (Interior & Exterior) Door Panel Insulation Underbody Floor/Carpet Underlayment Luggage Compartment
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U.S. 100% ELECTRIC METERS 22% FILTRATION 24% RAIL 21% INDUSTRIAL 15% SMALL ENGINES 9% OTHER 9%
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2014 REVENUE BY GEOGRAPHY 2014 REVENUE BY END PRODUCT
$100 $136 $131 $124 19% 18% 17% 14% $0 $30 $60 $90 $120 $150 ʼ11 ʼ12 ʼ13 ʼ14
FINANCIAL PROFILE
Adjusted EBITDA % Revenue ($ in millions) ADDRESSABLE MARKET(1)
IN NORTH AMERICA
WORLDWIDE
(1) Management estimates Note: 2011 revenue and Adjusted EBITDA % is pro forma for acquisition of Morton Manufacturing
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ADDRESSABLE MARKET(1)
WORLDWIDE
EUROPE 49% U.S. 40% SOUTH AMERICA 7% MEXICO 4% INDUSTRIAL BRUSHES 58% INDUSTRIAL BUFFS & COMPOUNDS 26% ABRASIVES 4% OTHER 12%
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Europe 55%
2014 REVENUE BY END PRODUCT 2014 REVENUE BY GEOGRAPHY
$191 $184 $180 $188 8% 10% 10% 14% $0 $50 $100 $150 $200 ʼ11 ʼ12 ʼ13 ʼ14
FINANCIAL PROFILE
Adjusted EBITDA % Revenue ($ in millions)
(1) Management estimates
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(58%)
(26%)
(4%)
(12%)
1 - Per Freedonia March 2014 “World Abrasives” study
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Cleveland Richmond Hamilton Mexico City Nogales Richmond Sao Bernando do Campo Aurangabad Beijing Valencia Brito Chepstow Gura Humorului Huskvarna Roissy Haan Burgwald Shanghai Taiwan Singapore Jiangmen Wunsiedel Manchester Karlstad Sélestat
Jason Finishing DRONCO
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NET SALES
($ In Millions)
ADJUSTED EBITDA
($ In Millions)
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$600.6 $655.0 $680.8 $702.5 $702 - $712 $400 $500 $600 $700 $800 ʼ11 ʼ12 ʼ13 ʼ14 ʼ15E $58.0 $70.5 $79.8 $77.8 $81 - $84 9.7% 10.8% 11.7% 11.1% 11.7% $0 $10 $20 $30 $40 $50 $60 $70 $80 $90 ʼ11 ʼ12 ʼ13 ʼ14 ʼ15E
0% to 1%
*Organic growth is presented on a constant currency basis
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*Q1 2015 Results Incorporating DRONCO Acquisition
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($ in millions) 2011 2012 2013 2014
EBITDA 50.7 62.8 90.0 29.7 Adjustments: Impairment of long-lived assets 1.3 0.5
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Buffs Non Woven Brushes Coated Abrasive Bonded Abrasive Technical Abrasives
Buff & Compounds
Industrial Brushes
(Scale increases)
Deburr Polish Grind Cut Finish Blend
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