Attached files
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EX-99.1 - EXHIBIT 99.1 - TREDEGAR CORP | ex99_1.htm |
8-K - 8-K - TREDEGAR CORP | form8k.htm |
Exhibit 99.2
2017 Annual Shareholders Meeting May 17, 2017 Exhibit 99.2
Chairman’s Report William M. Gottwald,Chairman of the Board 1 2017 Annual Shareholders Meeting
Election of Directors John D. Gottwald Thomas G. Snead, Jr. Kenneth R. Newsome Gregory A. Pratt Carl E. Tack, III John M. Steitz 2 2017 Annual Shareholders Meeting
Chairman’s Report George Newbill 3 2017 Annual Shareholders Meeting
John D. Gottwald 4 2017 Annual Shareholders Meeting
5 Tredegar Safety Performance George has driven improved safety AluminumExtrusions4.9 PE Films 4.7 * Five year average for respective industries through 2015 5 Year Industry Average* 2017 Annual Shareholders Meeting
Forward Looking Statements & Non-GAAP Measures Certain statements contained in this presentation are forward-looking statements. Pursuant to federal securities regulations, we have set forth cautionary statements relating to those forward-looking statements in our Annual Report on Form 10-K for the year ended December 31, 2016, as amended, in our Quarterly Report on Form 10-Q for the quarter ended March 31, 2017 and other filings with the Securities and Exchange Commission. We urge readers to review and carefully consider these cautionary statements and the other disclosures we make in our filings with the SEC.This presentation contains non-GAAP financial measures that are not determined in accordance with United States GAAP. These non-GAAP financial measures should not be considered in isolation, as an alternative to, or more meaningful than measures of financial performance determined in accordance with United States GAAP. A reconciliation of those financial measures to United States GAAP financial measures is included under “Supplemental Information” in this presentation and is available on the company’s website at www.tredegar.com under “Investors”.The presentation speaks as of the date thereof. Tredegar is not, and should not be deemed to be, updating or reaffirming any information contained therein. We do not undertake, and expressly disclaim any duty, to update any forward-looking statements made in this presentation to reflect any change in management’s expectations or any change in conditions, assumptions or circumstances on which such statements are based. 6 2017 Annual Shareholders Meeting
Update on Polyethylene Films John Gottwald, President and Chief Executive OfficerBonnell and Acquisition of Futura Brook Hamilton, President Bonnell AluminumTredegar Financial Report Drew Edwards, Vice President and Chief Financial OfficerQuestions 7 Agenda 2017 Annual Shareholders Meeting
8 2016 Tredegar Segment Net Sales ($799M) 2017 Annual Shareholders Meeting
Power of Innovation 9 2017 Annual Shareholders Meeting
10 Increasing Demands on Supply Chain TREDEGAR AMAZONWALMART P&GJ&J DOWEXXON Channel to Customers Brand Products Basic Materials Components 2017 Annual Shareholders Meeting
Personal Care Successes 11 2017 Annual Shareholders Meeting
12 Continuous Improvement: Customer-Driven Defect Reduction Surface Science Progress in Defect Size Reduction Defect Size 2010 2017 2017 Annual Shareholders Meeting
PE Films R&D Expenditures ($M) 13 2017 Annual Shareholders Meeting
Bonnell and Acquisition of Futura Brook HamiltonPresident of Bonnell Aluminum 14 2017 Annual Shareholders Meeting
15 Profitability Since Recession 2017 Annual Shareholders Meeting * EBIT is operating profit from ongoing operations for Tredegar’s Aluminum Extrusions business segment
Organic Growth – Adding Capacity Automotive PressNewnan, GeorgiaInstalled February 2014Capital Cost – $15M*Capacity – 15M lbs Press #3Niles, MichiganInstalled May 2017Capital Cost - $18M* Capacity – 15M lbs* Including building expansion 16 2017 Annual Shareholders Meeting
Futura Industries, Clearfield, Utah 17 2017 Annual Shareholders Meeting
OEM Solar Commercial TSLOTS Markets Served by Futura 18 2017 Annual Shareholders Meeting
Exercise Equipment Mounting Systems Shower Door Transportation Machine Guarding Marine Products by Futura 19 2017 Annual Shareholders Meeting
Continued Diversification 20 2010 Sales $200M(Before AACOA & Futura Acquisitions) 2016 Sales $437M(Including AACOA & Futura) 2017 Annual Shareholders Meeting
Continued growth trends in key marketsRecent upgrades in capacity and quality capabilities in anodizing and paint enhance market positionCommitment to value-added solutions to better serve customersEnhanced technical support for customers Aluminum Extrusions: Outlook 21 2017 Annual Shareholders Meeting
Moving Forward DiversifyValue-AddInnovate 22 2017 Annual Shareholders Meeting
Tredegar Financial Report D. Andrew Edwards, Vice President & CFO 23 2017 Annual Shareholders Meeting
24 Purchase price of $92 million Funded with Tredegar debt (drawdown of revolving credit facility)Tredegar’s post-acquisition debt at March 31, 2017 was $193 millionLeverage Ratio increased from 1.4x before Futura to 2.4x with Futura Impact of Futura on Tredegar’s Balance Sheet 2017 Annual Shareholders Meeting
25 Impact of Futura on Tredegar’s P&L 2017 Annual Shareholders Meeting
26 Bridge of Tredegar Ongoing EPS Q1-16 to Q1-17($ Millions Except EPS Data) 2017 Annual Shareholders Meeting * Computed as change in profit or expenses for period, net of tax, divided by average diluted shares outstanding
27 2016 Tredegar Segment Net Sales ($799M) 2017 Annual Shareholders Meeting
28 Profitability Since Recession 2017 Annual Shareholders Meeting * EBIT is operating profit from ongoing operations for Tredegar’s Aluminum Extrusions business segment
Q&A May 17, 2017
30 GAAP to Non-GAAP Reconciliations
31 GAAP to Non-GAAP Reconciliations
32 GAAP to Non-GAAP Reconciliations
33 GAAP to Non-GAAP Reconciliations