Attached files
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| 8-K - 8-K - HUTTIG BUILDING PRODUCTS INC | d915322d8k.htm |
 Huttig Building Products, Inc.
Annual Shareholders Meeting
April 27, 2015
1
Exhibit 99.1 |
 Forward-Looking Statements
Forward–Looking Statements
These
presentation
materials
may
contain
“forward-looking
statements”
within
the
meaning
of
the
Private
Securities
Litigation
Reform
Act
of
1995.
The
words
or
phrases
“will
likely
result,”
“are
expected to,”
“will continue,”
“is anticipated,”
“believe,”
“estimate,”
“project”
or similar expressions may
identify forward-looking statements, although not all forward-looking
statements contain such words.
Statements made in this presentation looking forward in time, including, but not
limited to, statements
regarding
our
current
views
with
respect
to
financial
performance,
future
growth
in
the
housing
market,
distribution
channels,
sales,
favorable
supplier
relationships,
inventory
levels,
the
ability
to
meet
customer
needs
and
enhanced
competitive
posture
are
included
pursuant
to
the
“safe
harbor”
provision of the Private Securities Litigation Reform Act of 1995.
These statements present management’s expectations, beliefs, plans and
objectives regarding our future business and financial performance. These
forward-looking statements are based on current projections, estimates,
assumptions and judgments, and involve known and unknown risks and
uncertainties. We disclaim any obligation to publicly update or revise any of these
forward-looking statements, whether as a result of new information,
future events or otherwise. There are a number of factors, some of which are
beyond our control that could cause our actual results to differ materially
from those expressed or implied in the forward-looking statements. These
statements are based on assumptions about many important factors, including the
factors discussed in the Company’s most recent Annual Report on Form
10-K and other filings with the U.S. Securities and Exchange Commission,
all of which are available on our website. Forward-looking statements should
not be relied upon as a predictor of actual results.
2 |
 Market Overview
3 |
 Source: US Dept of Commerce, US Census, Mortgage Bankers Association, Wells Fargo Bank
and National Association of Homebuilders. Overview of US Housing Market
4
5-Year Avg
0.78
10-Year Avg
1.06
20-Year Avg
1.34
30-Year Avg
1.37
Median since 1954
1.47
U.S. Residential Construction Activity
1,700
1,850
1,960
2,070
1,800
904
554
588
608
780
925
1,003
0
500
1,000
1,500
2,000
2,500
Excess (Deficit) Housing Built (2002
-2014)
1,350
200
350
460
570
300
(150)
(596)
(946)
(912)
(890)
(720)
(575)
(1,200)
(1,000)
(800)
(600)
(400)
(200)
0
200
400
600
800
Excess (Deficit) Supply (2002 -
2014)
(497) |
 Company Overview
5 |
 6 |
 Service Proposition
Brands / Products
Broad Geographic Footprint
National Accounts
Huttig has a value proposition that is unmatched in the industry
Saves
You
Money
Drives
Your
Sales
Provides
You
Resources
Leverage
Your
Volume
Our Value Proposition
7
•
Speed to Market –
next day delivery on inventoried items, 3 day production lead-times
•
Technology –
Customer interface, EDI, Pricing
•
Metrics and Reporting –
Constantly measure and work to improve service metrics
•
Service oriented, professional, technically superior sales / support teams
•
Partnered with the most preferred branded products by builders, contractors and
consumers in the industry
•
Focus
on
products
that
are
in
the
early
stages
of
the
product
life
cycle
•
Focus on millwork and specialty building product categories that are complex;
requiring expertise and scale
•
The largest value-add millwork distributor to the pro-channel in the
U.S. •
The only national wholesale distributor that sells value-add millwork and
specialty building products
•
Leverage our footprint, brands and unique product mix with multi-regional
customers to provide consistency of service and reduced transaction
costs •
Dedicated
national
accounts
team
focused
on
national/regional
pro-dealers
and
R&R
specialty dealers |
 Current Priorities
8
Continued execution of our strategic
initiatives to drive profitable growth,
leverage the cost structure, and
improve our operating margins
Continue to capitalize on the improving
residential construction market to drive
profitable, organic growth
Continue to balance the need to
reinvest in the business with the desire
to maximize profits
Pursue consolidation opportunities, and
product, market segment, and
geographic expansion growth
opportunities through strategic
acquisitions
Expedite the advancement of our
customer interface technology |
 Financial Overview
Income Statements
9
2015
2014
2014
2013
Net sales
$147.4
$135.3
$623.7
$561.5
GM
28.5
26.5
122.6
111.1
GM%
19.3%
19.6%
19.7%
19.8%
Operating expenses
(27.9)
(26.7)
(114.3)
(104.8)
Operating income (loss)
0.6
(0.2)
8.3
6.3
Discontinued Operations
(0.1)
(3.2)
(3.6)
(0.4)
Interest expense
(0.5)
(0.6)
(2.5)
(2.6)
Net income before taxes
-
($4.0)
$2.2
$3.3
EBITDA
$1.7
($0.9)
$12.8
$10.1
Q1
Year |
 Financial Overview
March Balance Sheet
10
2015
2014
2015
2014
Current assets
156.8
$
143.8
$
Current liabilities
83.3
$
75.5
$
PPE
16.4
16.3
LT liabilities
80.6
82.2
Other
16.3
16.0
Equity
25.6
18.4
Total assets
189.5
$
176.1
$
Total liabilities and equity
189.5
$
176.1
$
*
Current ratio 1.9 : 1
*
AP $60.3 million; increase $7.7 million
*
AR $67.7 million; increase $7.5 million
*
Taking all prompt pay discounts
*
DSO 41.9 days, strong credit
*
Debt outstanding $78.0 million; down $0.7 million
*
Inventories of $81.7 million; up $6.6 million
*
Debt decreased despite higher working capital;
*
Turns 6.4; strong focus on E&O
primarily due to improved operating results
*
GW $6.3 million
*
Net available liquidiity of $60.6 million;
$18.7 million improved from a year ago |
 Huttig Building Products, Inc.
Annual Shareholders Meeting
April 27, 2015
11 |