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MANAGEMENT PRESENTATION – Capstone Turbine Corporation

Capstone Turbine Corporation · Mar 1, 2015 · 19 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. MANAGEMENT PRESENTATION – Capstone Turbine Corporation – slide 1
    Management Presentation March 2015
  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
    3Q 2015 Vertical & Geographic Markets 3Q15 Vertical Markets 3Q15 Geographic by Product Shipments Markets by Revenue Natural Resource North America Applications Energy 52% 39% Other 1% Renewable Efficiency Energy XX% 10%…
  7. MANAGEMENT PRESENTATION – Capstone Turbine Corporation – slide 7
    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)…
  8. MANAGEMENT PRESENTATION – Capstone Turbine Corporation – slide 8
    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…
  9. MANAGEMENT PRESENTATION – Capstone Turbine Corporation – slide 9
    Historical Revenue Current Management Team 140.0 133.1 127.6 120.0 109.4 100.0 81.9 80.0 61.6 60.0 43.9 40.0 31.6 31.3 28.3 24.1 21.0 17.7 17.0 20.0 12.6 10.2 - FY2000 FY2001 FY2002 FY2003 FY2004 FY2005…
  10. MANAGEMENT PRESENTATION – Capstone Turbine Corporation – slide 10
    Growing Channel to Market NORTH AMERICA SOUTH AMERICA EMEA ASIA TOTAL Distributors 27 19 23 15 84 Employees 188 124 283 145 740 Locations 42 41 41 28 152 OEMs 3 2 3 2 10 Note: The above employee and location figures…
  11. MANAGEMENT PRESENTATION – Capstone Turbine Corporation – slide 11
    Significant 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 Operating expenses have remained…
  12. MANAGEMENT PRESENTATION – Capstone Turbine Corporation – slide 12
    Third Quarter FY 2015 3Q15 Quarter- Year-over- ended over- Year 12/31/14 Quarter Revenue 30.1 M -7% -19% Product revenue 22.5 M -16% -25% Gross margin 20.3% +400 bps +50 bps R&D expense 2.4 M +14% +4% SG&A expense 7.5 M…
  13. MANAGEMENT PRESENTATION – Capstone Turbine Corporation – slide 13
    Margin Growth Year-Over-Year 3Q Gross Margins 25% 20.3% 19.8% 20% 14.0% 15% 10% 8.5% 3.8% 5% 0% 3Q11 3Q12 3Q13 3Q14 3Q15 3Q FY15 Margin Up 50 Basis Points Y/Y On 19% Lower Revenue. 13
  14. MANAGEMENT PRESENTATION – Capstone Turbine Corporation – slide 14
    Annual Margin Improvement 20% 16% 15% 11% 10% 5% 5% 0% -2% -5% -10% -12% -12% -15% -14% -20% C200 Series first introduced to -25% market -24% -30% FY07 FY08 FY09 FY10 FY11 FY12 FY13 FY14 Gross margins have improved…
  15. MANAGEMENT PRESENTATION – Capstone Turbine Corporation – slide 15
    Product Backlog millions 200 175.5 180 160 140 120 100 80 60 40 20 5.0 0 FY2007 FY2008 FY2009 FY2010 FY2011 FY2012 FY2013 FY2014 3Q2015 Backlog has grown at a 66% annual rate over the last 7 years. 15
  16. MANAGEMENT PRESENTATION – Capstone Turbine Corporation – slide 16
    Strengthening Aftermarket Service Contributing to overall gross margin improvement Record FPP contract backlog Large install base provides scalability C200/C1000 reliability improving Lower product warranty expenses Increased…
  17. MANAGEMENT PRESENTATION – Capstone Turbine Corporation – slide 17
    Long Term Goals 1-3 3+ Past Present Years Years Gross Margin -24% 16% 30% 35% Critical Power Market 0% 8% 12% 15% Mobile Power Market 0% 1% 5% 10% (Bus Truck Marine) C30 C200 New Product Offerings C250 C370 C65 C1000…
  18. MANAGEMENT PRESENTATION – Capstone Turbine Corporation – slide 18
    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…
  19. MANAGEMENT PRESENTATION – Capstone Turbine Corporation – slide 19

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