Dresser-Rand Group Inc Dresser- Inc. (NYSE: DRC) First Quarter 2012 Conference Call May 4,4 2012 Copyright 2012 2
First Quarter 2012 Highlights 1Q12 Highlights: Guidance Actual Operating Income 36 to 50MM 51.7 New Unit Bookings 442MM Aftermarket Bookings 385MM Reiterating full year guidance with the following expectations: Operating income -…
First Quarter Bookings by Segment ( in Millions)) 827 Aftermarket bookings up 850 385 46% vs. the 680 corresponding period in 523 2011 510 263 442 New Unit bookings up 340 70% vs. vs the 170 260 corresponding period in…
Major New Units Bookings Fixed platform located offshore Angola to supply both the compression and the power generation equipment Underscores our strong offerings p for upstream oil and g gas applications All of the critical…
Low Natural Gas Prices Good for Dresser Dresser--Rand Resulting in restarts and building of fertilizer plants, building new gas- liquids based petrochemical facilities, and converting LNG receiving terminals into liquefaction…
Leveraging Product Platforms Across Energy Infrastructure Markets Energy Infrastructure Markets gy Platforrms OIL AND GAS MARKET Environmental Solutions MACHINERY Upstream Midstream Downstream CHP CAES / CCS TURBO…
Environmental Solutions and O&G Synergies ( in Millions) CHP (Engine Based Solution) 15 generated in revenues University of Wolverhampton Developed pipeline of potential bookings: 30 of potential projects in North America…
LTM Bookings by Segment ( in Millions) 3,163 LTM bookings through 3/31/12: 3,200 1,480 44% hi higher h ththan 12 12-months th ended 3/31/11 2,400 2,194 New unit bookings up 44% 1 025 1,025 Aftermarket bookings up 44% 1,600…
Backlog by Segment ( in Millions) 2,800 2,747 Backlog of 2.7 billion - 28% 573 2,152 higher than 3/31/11 2,100 2,174 New unit backlog up 24% vs. 404 1,748 , last year 1,400 900 scheduled to ship in 2013 Record level at this…
Revenues by Segment ( in Millions) 700 662 Total up 87% vs. vs 1Q11 294 New Unit up 154% 525 Aftermarket up 41% 354 350 209 368 175 145 0 1Q11 1Q12 New Units Aftermarket 2 Copyright 2012 11
First Quarter 2012 Results ( in Millions) 1Q12 1Q11 Change Revenues 661.8 354.2 87% Cost of Sales 516.9 253.6 104% - % of Revenues 78 1% 78.1% 71 6% 71.6% Selling & Administrative 88.7 77.0 15% Research & Development 4.5 4.4 2%…
New Unit Operating Income & Margins ( in Millions) 25 15.0% Margin g decrease 20 2 20.2 20 principally due to a 9.3% 10.0% less favorable mix of 15 13 5 13.5 new unit projects 5.5% Higher overhead 10 5.0% % allocations 5…
Aftermarket Operating Income & Margins ( in Millions) 60 20% Operating income 53.3 i increase d due tto hi higher h 50 18.1% revenues attributable to 15% 40 the Guascor acquisition 13.8% 28.9 Lower overhead 30 10%…
1Q Operating Cash Flow ( in Millions)) 1Q12 1Q11 Net Income Attributable to Dresser-Rand 24.3 0.4 D&A 20.7 13.8 Working Capital (15.3) 21.1 Pension Contributions (11.7) (22.2) Other (8.1) (17.6) Operating Activities…
Net Working Capital ( in Millions) 3/31/12 12/31/11 Accts Receivable, Accts. Receivable Net 410 477 Inventories, Gross 815 779 g Less Progress Payments y ((367)) ((370)) Inventories, Net 448 409 Prepaid Expenses 80 67 Accounts…
1Q Cash Flow ( in Millions)) 1Q12 1Q11 Net Cash (Used In) Provided by Operating Activities 9.9 (4.5) Investing Activities (55 8) (55.8) (11 4) (11.4) Financing Activities 37.5 (119.0) Effect of Exchange Rate 3.3 9.0 Net Change in…
Liquidity ( in Millions) 715 700 Revolver matures 2016 725 295 580 Borrowings 247 435 L tt Letters off Credit C dit 220 356 420 290 123 Additional Letters of Credit 233 and Bank Guarantees under 145 uncommitted lines…
Capital Structure at End of Period ( in Millions) Net Debt to Capital Total debt 1,067 45% 46% 46% 6 5% Notes 375 due 2021 6.5% 20% Term Loan - 304 11% Revolver - 202 -3% -5% Guascor / Other - 146 '12/09 '12/10 '12/11…
2012 Outlook ( and d Shares Sh iin Milli Millions)) New Units Revenue Up 35 to 40% Aftermarket Revenue Up 15% to 20% Operating Income 360 to 420 - New Unit Operating Margins Low Double Digits - Aftermarket Operating Margins 22%…
Second Quarter 2012 Operating Income Outlook Expect Q2 operating income First Half OI as % of Year (OI) = 17% to 19% of full 50% year guidance Average 05 05 11 11 40% First half OI as a % of full 30% yyear 20% 1H12 = 27% to 37%…
Appendix Copyright 2012 2
NWC Reconciliation to GAAP ( in Millions) 12/31/2011 3/31/2012 Current Assets 1,151.0 1,126.1 Less: Current Liabilities (927.3) (887.4) GAAP Net Working Capital (NWC) 223.7 238.7 Adjustments: Cash and Cash Eq Equivalents i…
GAAP Reconciliation - Net Debt to Capital ( in Millions) 31-Dec 31-Mar 2007 2008 2009 2010 2011 2012 Total Debt 370.3 370.1 370.0 370.0 1,027.2 1,067.1 Less Cash (206.2) (147.1) (223.2) (420.8) (157.7) (146.6) Net Debt 164.1…
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