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MANAGEMENT PRESENTATION – Capstone Turbine Corporation

Capstone Turbine Corporation · Aug 1, 2014 · 19 slides

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Slides

  1. MANAGEMENT PRESENTATION – Capstone Turbine Corporation – slide 1
    Management Presentation August 2014
  2. MANAGEMENT PRESENTATION – Capstone Turbine Corporation – slide 2
    Capstone Business Strategy Revenue Fuel high growth by expanding products, markets and distribution Margins Drive margins to 35% with higher prices, lower DMC and warranty Quality Provide the highest quality products in the energy…
  3. MANAGEMENT PRESENTATION – Capstone Turbine Corporation – slide 3
    Macro Drivers/Business Catalysts Corporate Focus on Reducing Costs HR 4916 - Power Sustained Low Cost Efficiency Oct. 2014 Gas Environment New Marine SOx Declining Grid Regulations Reliability Subsidies in CA, NY, New Gas…
  4. MANAGEMENT PRESENTATION – Capstone Turbine Corporation – slide 4
    Broad Suite of Products All Capstone MicroTurbines operate: All are multi-fuel capable: Continuously or on-demand Low or high pressure natural gas Stand alone or grid connect Biogas (landfill, wastewater Individually or multi-pack…
  5. MANAGEMENT PRESENTATION – Capstone Turbine Corporation – slide 5
    Global Market Segments Energy Efficiency Renewable Energy Oil, Gas & Other Natural Resources Land Rigs Land Rigs Gas Compression Mining Water Conversion Critical Power Supply Transportation Products Marine HEV…
  6. MANAGEMENT PRESENTATION – Capstone Turbine Corporation – slide 6
    FY 2014 Global Market Segments Vertical Markets by Geographic Markets by Product Shipments Revenue Natural North America EnergyResource 51% Critical PowerEfficiency Applications Other Supply / MobileXX% 60% 6% 9% Australia…
  7. MANAGEMENT PRESENTATION – Capstone Turbine Corporation – slide 7
    Microturbine Shipments by MW 7
  8. MANAGEMENT PRESENTATION – Capstone Turbine Corporation – slide 8
    Sizing the Opportunity Total Market Opportunity Managements Estimate of Potential Capture Combined Boiler Retrofit Cooling Heat & 0.4 Power Data Boiler Combined 0.8 Center Retrofit, Cooling Data Center 0.02 (UPS), Heat & (UPS)…
  9. MANAGEMENT PRESENTATION – Capstone Turbine Corporation – slide 9
    Industrial Generators Current and Forecast Market Size Up to 1500 kW Natural Gas 9,000 8,000 7,000 6,000 5,000 4,000 3,000 2,000 1,000 0 2012 2013 2014 2015 2016 2017 2018 Gas Gas Gas Gas Gas Gas…
  10. MANAGEMENT PRESENTATION – Capstone Turbine Corporation – slide 10
    Industrial Generators Current and Forecast Market Size Up to 1500 kW - Diesel 250,000 200,000 150,000 100,000 50,000 0 2012 2013 2014 2015 2016 2017 2018 Diesel Diesel Diesel Diesel Diesel Diesel Diesel…
  11. MANAGEMENT PRESENTATION – Capstone Turbine Corporation – slide 11
    Capstone Value Proposition 3,500,000 3,000,000 1MW Reciprocating Engine Total 2,500,000 - 700,000 Cost of Ownership 2,000,000 + 300,000 1,500,000 C1000 MicroTurbine 1,000,000 500,000 1 2 3 4 5 6 7 8 9 10 Year Competing…
  12. MANAGEMENT PRESENTATION – Capstone Turbine Corporation – slide 12
    Annual Revenue Growth millions 140 133.1 127.6 120 109.4 100 81.9 80 61.6 60 43.9 40 31.3 21.0 20 0 FY07 FY08 FY09 FY10 FY11 FY12 FY13 FY14 Revenue growth slowed by European/Russian climate 12
  13. MANAGEMENT PRESENTATION – Capstone Turbine Corporation – slide 13
    Product Backlog millions 200 171.6 180 160 140 120 100 80 60 40 20 5.0 0 FY2007 FY2008 FY2009 FY2010 FY2011 FY2012 FY2013 FY2014 FY14 Book to Bill of 1.2:1 13
  14. MANAGEMENT PRESENTATION – Capstone Turbine Corporation – slide 14
    Annual Margin Improvement 20% 16.0% 15% 11.0% 10% 5.0% 5% 0% -2.0% -5% -10% -12.0% -12.0% -15% -14.0% -20% C200 Series first introduced to -25% -24.0% market -30% FY07 FY08 FY09 FY10 FY11 FY12 FY13 FY14 14
  15. MANAGEMENT PRESENTATION – Capstone Turbine Corporation – slide 15
    Operating Leverage millions 140 133.1 127.6 120 109.4 100 81.9 80 61.6 60 43.9 40 31.3 21.0 20 - FY07 FY08 FY09 FY10 FY11 FY12 FY13 FY14 Revenue Mfg. L&OH R&D SG&A 15
  16. MANAGEMENT PRESENTATION – Capstone Turbine Corporation – slide 16
    Target Financial Model Gross margin 35% Research & development expense (% of revenue) 5% Selling, general & administrative expense (% of revenue) 15% Operating margin 15% Positive operating margins to be driven by improved…
  17. MANAGEMENT PRESENTATION – Capstone Turbine Corporation – slide 17
    Path to Higher Margins Operating Model Targets 35% Margin 35% 2% 10% 3% 20% 3Q 2014 Gross Margin Pricing Cost Reduction Warranty Related Profitability achievable at lower gross margins based on higher revenue…
  18. MANAGEMENT PRESENTATION – Capstone Turbine Corporation – slide 18
    Key Takeaways Market expansion and new product development across high growth segments Strong growth trends in revenue, gross margin and backlog Clear path to profitability through operating leverage and margin expansion…
  19. MANAGEMENT PRESENTATION – Capstone Turbine Corporation – slide 19

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