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Q2 2015 Earnings Call – CECO

CECO · Aug 6, 2015 · 25 slides

Investor presentation from the Shale Experts oil & gas presentation and slide database. Every page is imaged and its text indexed for search across operators, plays, basins and time.

Slides

  1. Q2 2015 Earnings Call – CECO – slide 1
    A global industrial technology company focused on environmental, energy, fluid handling industries Integrated Clean Air Solutions for Industry 1
  2. Q2 2015 Earnings Call – CECO – slide 2
    Safe Harbor Statement Non-GAAP Financial Information CECO is providing the non-GAAP historical financial measures in this presentation, as the Company believes that these figures are helpful in allowing individuals to better assess the…
  3. Q2 2015 Earnings Call – CECO – slide 3
    Safe Harbor Statement Important Information for Investors and Stockholders This communication does not constitute an offer to sell or the solicitation of an offer to buy securities or a solicitation of any vote or approval. This…
  4. Q2 2015 Earnings Call – CECO – slide 4
    Integrated Clean Air Solutions for Industry 5
  5. Q2 2015 Earnings Call – CECO – slide 5
    2Q15 Financial Highlights Revenue Growth Revenue of 87 million, up 31% year-over-year Organic revenue is up 4.5% in 1H15 using constant FX Organic revenue was flat for Q215 vs last year 1H15 revenue 168 million vs 123 million in…
  6. Q2 2015 Earnings Call – CECO – slide 6
    2Q15 Quarterly Financial Highlights Non-GAAP Gross Margin Gross margin of 31% in Q215 compared with 26% in Q1, primarily attributable to: Aftermarket mix, higher OE GP, business improvement and project execution Non-GAAP…
  7. Q2 2015 Earnings Call – CECO – slide 7
    Business Conditions & Strategic Review Overall end markets are unchanged with the exception of China and we are executing on our Sales Excellence and initiatives Environmental segment continues to gain momentum; China has slowed…
  8. Q2 2015 Earnings Call – CECO – slide 8
    Announcement of Proposed Acquisition of PMFG, Inc. - Key Transaction Benefits & Strategic Rationale 1. Strong strategic fit, environmental and energy related portfolios 2. Poised to achieve significant sales and 15 million in cost…
  9. Q2 2015 Earnings Call – CECO – slide 9
    CECO and PMFG Technology Leaders in Comprehensive Solutions for the Natural Gas Turbine Power Market Aarding Peerless Peerless SCRs is a world Steam Emissions leader in selective Peerless catalytic Mfg. Co. Vent Control reduction…
  10. Q2 2015 Earnings Call – CECO – slide 10
    CECO and PMFG Technology Leaders in Environmental-Industrial Silencers Design, Engineering and Manufacturing of Silencers for Full Range of Industrial Applications Integrated Clean Air Solutions for Industry 11
  11. Q2 2015 Earnings Call – CECO – slide 11
    CECO-PMFG Combination Will Provide a Stronger-Larger- More Profitable Asian Region Platform for the Future Integrated Clean Air Solutions for Industry 12
  12. Q2 2015 Earnings Call – CECO – slide 12
    Integrated Clean Air Solutions for Industry 13
  13. Q2 2015 Earnings Call – CECO – slide 13
    2Q15 Quarterly Financial Highlights ( in millions) Revenue 86.9 81.0 76.1 66.6 63.3 2Q14 3Q14 4Q14 1Q15 2Q15 Record revenue of 87 million, up 31% y/y and 8% sequentially 1H15 organic growth was up 4.5% and on a…
  14. Q2 2015 Earnings Call – CECO – slide 14
    2Q15 Quarterly Financial Highlights ( in millions) Backlog Bookings 153.0 140.1 140.3 93.9 74.6 69.9 106.2 63.7 96.0 57.7 2Q14 3Q14 4Q14 1Q15 2Q15 2Q14 3Q14 4Q14 1Q15 2Q15 Organic bookings are up 4.5% 1H and flat in Q2,…
  15. Q2 2015 Earnings Call – CECO – slide 15
    2Q15 Financial Highlights Non-GAAP Gross Margin Non-GAAP OperaEng Margin 33.6% 14.9% 32.3% 14.2% 29.8% 30.7% 12.9% 26.2% 10.9% 9.3% 2Q14 3Q14 4Q14 1Q15 2Q15 2Q14 3Q14 4Q14 1Q15 2Q15 Gross margin increased to 30.7% in Q2…
  16. Q2 2015 Earnings Call – CECO – slide 16
    2Q15 Quarterly Financial Highlights ( in millions) Adjusted EBITDA Non-GAAP EPS 13.5 0.32 11.0 0.25 0.25 9.4 0.22 8.9 8.6 0.21 2Q14 3Q14 4Q14 1Q15 2Q15 2Q14 3Q14 4Q14 1Q15 2Q15 Note: See supplemental slide for adjusted…
  17. Q2 2015 Earnings Call – CECO – slide 17
    Environmental Segment 2nd Quarter Results ( in millions) Revenue Bookings 40.3 41.7 41.8 51.2 32.9 27.7 33.3 31.0 26.4 24.6 2Q14 3Q14 4Q14 1Q15 2Q15 2Q14 3Q14 4Q14 1Q15 2Q15 Revenue of 41.8 million was up 27% y/y…
  18. Q2 2015 Earnings Call – CECO – slide 18
    Energy Segment 2nd Quarter Results ( in millions) Revenue Bookings 28.4 27.3 26.5 25.0 24.3 20.2 18.0 16.8 14.8 14.6 2Q14 3Q14 4Q14 1Q15 2Q15 2Q14 3Q14 4Q14 1Q15 2Q15 Revenue of 27.3 million was up 62.5% y/y Revenue…
  19. Q2 2015 Earnings Call – CECO – slide 19
    Fluid Handling & Filtration Segment 2nd Quarter Results ( in millions) Revenue Bookings 18.6 17.6 17.7 16.7 16.7 16.6 15.9 16.2 15.8 15.2 2Q14 3Q14 4Q14 1Q15 2Q15 2Q14 3Q14 4Q14 1Q15 2Q15 Organic revenue of 17.7…
  20. Q2 2015 Earnings Call – CECO – slide 20
    Balance Sheet ( in millions) Selected Balance Sheet InformaEon 12/31/2011 12/31/2012 12/31/2013 12/31/2014 6/30/2015 Cash & Equivalents 12.7 23.0 22.7 19.4 17.1 Total Assets 79.3 94.1 348.5 414.4 416.7 Total Bank Debt 0.0 0.0…
  21. Q2 2015 Earnings Call – CECO – slide 21
    Supplemental Integrated Clean Air Solutions for Industry 22
  22. Q2 2015 Earnings Call – CECO – slide 22
    Non-GAAP Gross Margin ( in millions) Annual Q1 Q2 Q3 Q4 Annual Q1 Q2 YTD TTM 2013 2014 2014 2014 2014 2014 2015 2015 2015 2015 Gross prot as reported in accordance with GAAP 61.6 19.7 21.4 21.1 22.6 84.8 21.0 26.6 47.6 91.3 Gross…
  23. Q2 2015 Earnings Call – CECO – slide 23
    Non-GAAP Operating Margin ( in millions) Annual Q1 Q2 Q3 Q4 Annual Q1 Q2 YTD TTM 2013 2014 2014 2014 2014 2014 2015 2015 2015 2015 OperaEng income as reported in accordance with GAAP 7.0 5.5 7.2 5.2 3.8 21.7 3.0 4.5 7.5 16.5…
  24. Q2 2015 Earnings Call – CECO – slide 24
    Non-GAAP NI & EBITDA ( in millions) Annual Annual Annual Annual Annual Q1 Q2 Q3 Q4 Annual Q1 Q2 YTD TTM 2009 2010 2011 2012 2013 2014 2014 2014 2014 2014 2015 2015 2015 2015 Net income as reported in accordance with GAAP (15.0) 2.1…
  25. Q2 2015 Earnings Call – CECO – slide 25
    GAAP to Non-GAAP Adjusted EBITDA Reconciliation (Twelve Months ended 12/31/2014) ( in Millions) CECO Pro-forma CECO PMFG Pro-forma Reported (Recent Standalone CECO AcquisiEons) Combined GAAP Revenues 263.2 64.7 327.9 158.1…

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