Commercial Vehicle : Q2 2021 Earnings Conference CallDownload (opens in a new window)
August 03, 2021 at 05:43 pm EDT
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Q2 2021
Earnings
Presentation
August 2021
W E F I N D A WAY !
Forward-Looking Statements and
Non-GAAP Financial Measures
These slides contain forward-looking statements that are subject to risks and uncertainties. These statements often include words such as "believe", "anticipate", "plan", "expect", "intend", "will", "should", "could", "would", "project", "continue", "likely", and similar expressions. In particular, these slides may contain forward-looking statements about the Company's expectations for future periods with respect to its plans to improve financial results, the future of the Company's end markets, including the short-term and long-term impact of the COVID-19 pandemic on our business, changes in the Class 8 and Class 5-7 North America truck build rates, performance of the global construction equipment business, the Company's prospects in the wire harness, warehouse automation and electric vehicle markets, the Company's initiatives to address customer needs, organic growth, the Company's strategic plans and plans to focus on certain segments, competition faced by the Company, volatility in and disruption to the global economic environment and the Company's financial position or other financial information. These statements are based on certain assumptions that the Company has made in light of its
experience as well as its perspective on historical trends, current conditions, expected future developments and other factors it believes are appropriate under the circumstances. Actual results may differ materially from the anticipated results because of certain risks and uncertainties, including those included in the Company's filings with the SEC. There can be no assurance that statements made in these slides relating to future events will be achieved. The Company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results over time. All subsequent written and oral forward-looking statements attributable to the Company or persons acting on behalf of the Company are expressly qualified in their entirety by such cautionary statements.
Q2 2021 Earnings Presentation | 2
Presented by
Harold Bevis
Chris Bohnert
President and
Chief Financial Officer
Chief Executive Officer
and Investor Relations
Q2 2021 Earnings Presentation | 3
Q2 2021 Highlights
Continue to have increasing sales and additional new business wins
Many wins are in prototype and pre-launch mode
Q2 Net Sales
Q2 Operating Income
Q2 Adj. EBITDA
Q2 Diluted Adj. EPS
YTD Net New
Business Awards
$258M
$16.3M
$21.6M
$0.33
$129M
103% YoY
Annualized
Quarterly Sales
Versus $(10.5)M
Versus $1.2M
Versus $(0.24)
Concentrated in
Record
loss in Q2 2020
in Q2 2020
in Q2 2020
Electric Vehicles
Q2 2021 Earnings Presentation | 4
Strategic Realignment - Q2 2021 Update
Grow Earnings and Expand End Markets
Leverage Strengths for
Expand in Warehouse
Expand in Electric
New Business
Automation
Vehicles
$129M of net new business
Sales on track to meet or
Working with 25 electric vehicle
awards 2021 YTD
exceed $150 million
OEMs on 52 opportunities
$229M of net new business
Continue to win new business
Have secured multiple, multi-
awards in last 18 months
in this market
year programs
Trailing
18
months 217 wins, 77 new products and 27 new customers
results
Expand End Market
Coverage
Majority of YTD awards in Electric Vehicles, Rec & Specialty Vehicles & Warehouse Automation
Q2 2021 Earnings Presentation | 5
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CVG - Commercial Vehicle Group Inc. published this content on 03 August 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 03 August 2021 21:42:21 UTC.
Commercial Vehicle Group, Inc. is a global provider of systems, assemblies and components to the global commercial vehicle market, the electric vehicle market, and the industrial automation markets. The Company delivers solutions to complex design, engineering, and manufacturing problems. The Company's segments include Vehicle Solutions, Electrical Systems, Aftermarket & Accessories, and Industrial Automation. The Vehicle Solutions segment designs, manufactures and sells commercial vehicle seats and plastic and trim components. The Electrical Systems segment designs, manufactures and sells cable and harness assemblies for both high and low voltage applications, control boxes, dashboard assemblies and design and engineering for these applications. The Aftermarket & Accessories segment designs, manufactures, and sells seats and components, commercial vehicle accessories, and office seats. The Industrial Automation segment designs, manufactures and sells warehouse automation subsystems.