GHS 100 Energy Conference Rajeev Bhalla, EVP & CFO June 23, 2015
CIRCOR Business Overview Design, develop, manufacture and sell flow control products and solutions Energy (Oil & Gas and Power) and Aerospace and Defense markets 2014 Pro Forma Sales*: 790 Million Energy Aerospace & Defense 2014…
Good Products and Strong Brands Energy Aerospace & Defense Custom Engineered Control Valves Aerospace Fluid Control Ball Valves Pneumatic Power Modules Instrumentation Valves Defense Aircraft Ground Support 4
CIRCOR is at an Inflection Point 1999 2013 Holding Company Transition Operating Company Acquisition focus Build the team Global market-facing Good products, brands Establish core operating organization and markets system:…
Addressable Market ENERGY AEROSPACE & DEFENSE Valves Fluid Control & Actuation Downstream Fluid Control 3 1.5 Midstream 4 Power 5 30 billion 8 billion Upstream Actuation 16 6.5 BGA 30 Flow Control: 150 billion BGA…
2014 Pro forma Revenue Distribution Control Aerospace & Instrumentation Valves Defense & Sampling 2% Engineered 22% 7% Valves 8% Upstream Oil & Gas Midstream, 37% Downstream, Power and 20% Industrial 41% Distributed…
Energy Market Outlook Market Business Expectation 2014 2015 Segment Unit Upstream WTI projected to remain 55 bbl Distributed Valves Unconventional Significant decline in rig count (N. America) Oil Sands project delays High…
Go Forward Focus Areas Growth Margin Expansion Drivers Drivers Market facing commercial team Facilities Product technology aligned Business units New operations/engineering Simplification Systems Organization Link sales force…
Organic Growth: New Product Development Energy Product Portfolio Subsea Valves High Control Valves Severe Service Turbine By-Pass Market Growth LNG Valves Engineered Instrumentation Control Valves Ball Valves…
Restructuring Actions Summary ( millions) 2015 Annualized Savings Savings Status Actions Announced in 2013 2.0 9.0 Complete Actions Announced in 2014 0.0 7.0 Complete Actions Announced in Q1 2015 5.0 8.0 Complete Q2 2015 Actions…
Capital Deployment Long Term Target Leverage Ratio 2 to 2.5x EBITDA Growth Quick payback Internal Investments Margin expansion Affordability Working capital IRR WACC In markets we understand Cash EPS Accretive year 1…
Schroedahl Acquisition Germany-based, privately held manufacturer of safety and control valves primarily for the power generation market Transaction provides for: Earnings accretion with strong, sustainable margins Greater…
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