HYSTER-YALE MATERIALS HANDLING, INC. - FORM 8-K - EX-99 - February 24, 2021

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8-K - 8-K - HYSTER-YALE MATERIALS HANDLING, INC.hy-20210224.htm

EXHIBIT 99
Hyster-Yale Materials Handling, Inc.
(in millions, except percentage data)
Backlog (in thousands)
Q1Q2Q3Q4FY
201940.2 44.1 43.4 41.2 41.2 
202037.3 31.5 33.6 40.6 40.6 
Unit Shipments (in thousands)
Q1Q2Q3Q4FY
201925.7 26.3 23.5 24.8 100.3 
202023.3 20.1 20.6 21.5 85.5 
Revenues - AmericasRevenues - Americas - % change yr. over yr.
Q1Q2Q3Q4FYQ1Q2Q3Q4FY
2019534.5 537.7 505.8 545.3 2,123.3 20197.8 %14.0 %0.4 %5.7 %6.8 %
2020550.7 454.8 426.9 458.8 1,891.2 20203.0 %-15.4 %-15.6 %-15.9 %-10.9 %
Revenues - EMEARevenues - EMEA - % change yr. over yr.
Q1Q2Q3Q4FYQ1Q2Q3Q4FY
2019190.1 202.1 161.7 197.3 751.2 2019-3.9 %5.8 %-6.1 %-5.0 %-2.3 %
2020152.1 120.1 143.8 172.6 588.6 2020-20.0 %-40.6 %-11.1 %-12.5 %-21.6 %
Revenues - JAPICRevenues - JAPIC - % change yr. over yr.
Q1Q2Q3Q4FYQ1Q2Q3Q4FY
201963.4 72.9 57.8 55.6 249.7 201928.1 %26.8 %-10.7 %-21.0 %3.1 %
202044.6 48.0 48.0 52.5 193.1 2020-29.7 %-34.2 %-17.0 %-5.6 %-22.7 %
Revenues - BolzoniRevenues - Bolzoni - % change yr. over yr.
Q1Q2Q3Q4FYQ1Q2Q3Q4FY
201991.8 90.8 75.8 87.0 345.4 20192.6 %3.2 %-10.2 %-0.1 %-1.0 %
202087.9 64.2 63.3 68.3 283.7 2020-4.2 %-29.3 %-16.5 %-21.5 %-17.9 %
Revenues - NuveraRevenues - Nuvera - % change yr. over yr.
Q1Q2Q3Q4FYQ1Q2Q3Q4FY
20194.5 2.2 2.4 1.0 10.1 2019n.m.n.m.n.m.n.m.n.m.
20201.4 0.7 0.7 1.1 3.9 2020n.m.n.m.n.m.n.m.n.m.
Revenues - ConsolidatedRevenues - Consolidated - % change yr. over yr.
Q1Q2Q3Q4FYQ1Q2Q3Q4FY
2019834.8 856.2 766.0 834.8 3,291.8 20195.9 %11.8 %-2.3 %-0.7 %3.5 %
2020785.7 654.4 652.4 719.6 2,812.1 2020-5.9 %-23.6 %-14.8 %-13.8 %-14.6 %
Gross ProfitGross Profit %
Q1Q2Q3Q4FYQ1Q2Q3Q4FY
2019126.2 139.4 135.0 141.2 541.8 201915.1 %16.3 %17.6 %16.9 %16.5 %
2020136.7103.6103.4121.7465.4 202017.4 %15.8 %15.8 %16.9 %16.5 %
Operating ExpensesOperating Expenses as a % of Revenue
Q1Q2Q3Q4FYQ1Q2Q3Q4FY
2019122.8 116.5 115.5 133.1 487.9 201914.7 %13.6 %15.1 %15.9 %14.8 %
2020116.5 94.9 96.1 108.0 415.5 202014.8 %14.5 %14.7 %15.0 %14.8 %
Operating Profit (Loss)Operating Profit (Loss) %
Q1Q2Q3Q4FYQ1Q2Q3Q4FY
20193.4 22.9 19.5 8.1 53.9 20190.4 %2.7 %2.5 %1.0 %1.6 %
202020.2 8.7 7.3 13.7 49.9 20202.6 %1.3 %1.1 %1.9 %1.8 %


Hyster-Yale Materials Handling, Inc.
(in millions, except percentage data)
Interest (Income) Expense
Q1Q2Q3Q4FY
20194.1 4.7 5.1 4.1 18.0 
20203.8 3.0 2.7 2.8 12.3 
Other (Income) Expense
Q1Q2Q3Q4FY
2019(5.4)(3.1)(3.6)0.1 (12.0)
2020(3.3)4.0 (1.8)(3.5)(4.6)
Income (Loss) Before TaxesEffective Income Tax Rate
Q1Q2Q3Q4FYQ1Q2Q3Q4FY
20194.7 21.3 18.0 3.9 47.9 201931.9 %20.7 %27.2 %12.8 %23.6 %
202019.7 1.7 6.4 14.4 42.2 202020.8 %n.m.10.9 %8.3 %8.8 %
Net Income (Loss) Attributable to Stockholders
Q1Q2Q3Q4FY
20193.4 16.2 12.8 3.4 35.8 
202015.3 3.6 5.1 13.1 37.1 
Depreciation and Amortization Expense
Q1Q2Q3Q4FY
201911.2 10.8 10.3 11.0 43.3 
202010.4 10.4 11.0 11.1 42.9 
Net Working Capital (1)
Q1Q2Q3Q4FY
2019594.3 679.7 643.0 611.1 611.1 
2020595.7 577.4 517.5 493.4 493.4 
Capital Expenditures
Q1Q2Q3Q4FY
20198.6 9.8 13.0 18.3 49.7 
202017.6 12.3 7.3 14.5 51.7 
Net Cash Provided By (Used For) Operating Activities
Q1Q2Q3Q4FY
2019(22.4)(48.5)53.6 94.0 76.7 
2020(45.7)33.7 88.1 90.8 166.9 
Net Cash Provided By (Used For) Investing Activities
Q1Q2Q3Q4FY
2019(8.0)(9.6)(6.9)(17.5)(42.0)
2020(17.4)(5.9)(6.5)(13.9)(43.7)
Cash Flow Before Financing Activities (2)
Q1Q2Q3Q4FY
2019(30.4)(58.1)46.7 76.5 34.7 
2020(63.1)27.8 81.6 76.9 123.2 


Hyster-Yale Materials Handling, Inc.
(in millions, except percentage data)
Net Cash Provided By (Used For) Financing Activities
Q1Q2Q3Q4FY
20193.6 52.5 (31.1)(76.6)(51.6)
202053.1 (18.7)(53.5)(21.5)(40.6)
Dividends Paid to Stockholders
Q1Q2Q3Q4FY
20195.2 5.2 5.3 5.3 21.0 
20205.3 5.3 5.4 5.3 21.3 
Total Debt
Q1Q2Q3Q4FY
2019309.4 370.9 351.1 287.0 287.0 
2020340.1 337.7 297.7 289.2 289.2 
Equity
Return on Equity (3)
Q1Q2Q3Q4FYQ1Q2Q3Q4FY
2019551.4 570.1 542.5 577.0 577.0 20194.0 %5.9 %5.5 %6.4 %6.4 %
2020542.7 563.7 602.6 651.1 651.1 20208.6 %6.3 %4.8 %6.3 %6.3 %
(1)Net working capital is equal to accounts receivable, net plus inventories, net less accounts payable.
(2)Cash flow before financing activities is equal to net cash provided by (used for) operating activities plus net cash provided by (used for) investing activities.
(3)Return on equity is equal to the sum of the previous 4 quarters net income divided by average equity calculated over the last 5 quarters.







Lift Truck Business
(in millions, except percentage data)
Backlog (in thousands)
Q1Q2Q3Q4FY
201940.2 44.1 43.4 41.2 41.2 
202037.3 31.5 33.6 40.6 40.6 
Unit Shipments (in thousands)
Q1Q2Q3Q4FY
201925.7 26.3 23.5 24.8 100.3 
202023.3 20.1 20.6 21.5 85.5 
Revenues - AmericasRevenues - Americas - % change yr. over yr.
Q1Q2Q3Q4FYQ1Q2Q3Q4FY
2019534.5 537.7 505.8 545.3 2,123.3 20197.8 %14.0 %0.4 %5.7 %6.8 %
2020550.7 454.8 426.9 458.8 1,891.2 20203.0 %-15.4 %-15.6 %-15.9 %-10.9 %
Revenues - EMEARevenues - EMEA - % change yr. over yr.
Q1Q2Q3Q4FYQ1Q2Q3Q4FY
2019190.1 202.1 161.7 197.3 751.2 2019-3.9 %5.8 %-6.1 %-5.0 %-2.3 %
2020152.1 120.1 143.8 172.6 588.6 2020-20.0 %-40.6 %-11.1 %-12.5 %-21.6 %
Revenues - JAPICRevenues - JAPIC - % change yr. over yr.
Q1Q2Q3Q4FYQ1Q2Q3Q4FY
201963.4 72.9 57.8 55.6 249.7 201928.1 %26.8 %-10.7 %-21.0 %3.1 %
202044.6 48.0 48.0 52.5 193.1 2020-29.7 %-34.2 %-17.0 %-5.6 %-22.7 %
Revenues - Lift Truck BusinessRevenues - Lift Truck Business - % change yr. over yr.
Q1Q2Q3Q4FYQ1Q2Q3Q4FY
2019788.0 812.7 725.3 798.2 3,124.2 20196.0 %12.9 %-2.1 %0.5 %4.2 %
2020747.4 622.9 618.7 683.9 2,672.9 2020-5.2 %-23.4 %-14.7 %-14.3 %-14.4 %
Gross ProfitGross Profit %
Q1Q2Q3Q4FYQ1Q2Q3Q4FY
2019112.6 126.9 125.0 130.5 495.0 201914.3 %15.6 %17.2 %16.3 %15.8 %
2020123.5 94.8 94.3 112.2 424.8 202016.5 %15.2 %15.2 %16.4 %15.9 %
Operating ExpensesOperating Expenses as a % of revenues
Q1Q2Q3Q4FYQ1Q2Q3Q4FY
2019101.8 97.8 97.0 112.8 409.4 201912.9 %12.0 %13.4 %14.1 %13.1 %
202095.5 77.8 78.1 87.8 339.2 202012.8 %12.5 %12.6 %12.8 %12.7 %
Operating Profit (Loss)Operating Profit (Loss) %
Q1Q2Q3Q4FYQ1Q2Q3Q4FY
201910.8 29.1 28.0 17.7 85.6 20191.4 %3.6 %3.9 %2.2 %2.7 %
202028.0 17.0 16.2 24.4 85.6 20203.7 %2.7 %2.6 %3.6 %3.2 %




Lift Truck Business
(in millions, except percentage data)
Interest (Income) Expense
Q1Q2Q3Q4FY
20193.9 4.5 5.0 4.0 17.4 
20203.7 2.9 2.6 2.6 11.8 
Other (Income) Expense
Q1Q2Q3Q4FY
2019(5.4)(2.9)(2.7)0.1 (10.9)
2020(3.0)4.5 (1.4)(3.4)(3.3)
Income (Loss) Before TaxesEffective Income Tax Rate
Q1Q2Q3Q4FYQ1Q2Q3Q4FY
201912.3 27.5 25.7 13.6 79.1 201925.2 %24.7 %23.7 %35.3 %26.3 %
202027.3 9.6 15.0 25.2 77.1 202025.6 %n.m.18.7 %19.0 %17.0 %
Net Income (Loss) Attributable to Stockholders
Q1Q2Q3Q4FY
20199.6 20.3 19.5 8.9 58.3 
202020.1 10.9 11.6 20.3 62.9 
Depreciation and Amortization Expense
Q1Q2Q3Q4FY
20197.9 7.7 7.2 7.8 30.6 
20207.2 7.3 7.7 7.9 30.1 
Net Working Capital (1)
Q1Q2Q3Q4FY
2019497.4 584.2 554.0 525.4 525.4 
2020497.8 468.8 405.1 391.2 391.2 
Capital Expenditures
Q1Q2Q3Q4FY
20195.5 7.1 9.7 15.5 37.8 
202015.6 12.6 4.0 12.0 44.2 
Net Cash Provided By (Used For) Operating Activities
Q1Q2Q3Q4FY
2019(19.0)(66.2)42.8 95.6 53.2 
2020(45.4)63.4 88.2 80.4 186.6 
Net Cash Provided By (Used For) Investing Activities
Q1Q2Q3Q4FY
2019(5.4)(6.9)(4.2)(15.4)(31.9)
2020(15.6)(24.0)(4.9)(12.0)(56.5)






Lift Truck Business
(in millions, except percentage data)
Cash Flow Before Financing Activities (2)
Q1Q2Q3Q4FY
2019(24.4)(73.1)38.6 80.2 21.3 
2020(61.0)39.4 83.3 68.4 130.1 
Net Cash Provided By (Used For) Financing Activities
Q1Q2Q3Q4FY
20190.4 64.9 (25.8)(81.9)(42.4)
202055.6 (37.3)(55.1)(12.2)(49.0)
(1)Net working capital is equal to accounts receivable, net plus inventories, net less accounts payable.
(2)Cash flow before financing activities is equal to net cash provided by (used for) operating activities plus net cash provided by (used for) investing activities.





Bolzoni
(in millions, except percentage data)
RevenuesRevenues - Bolzoni - % change yr. over yr.
Q1Q2Q3Q4FYQ1Q2Q3Q4FY
201991.8 90.8 75.8 87.0 345.4 20192.6 %3.2 %-10.2 %-0.1 %-1.0 %
202087.9 64.2 63.3 68.3 283.7 2020-4.2 %-29.3 %-16.5 %-21.5 %-17.9 %
Gross Profit (Loss)Gross Profit %
Q1Q2Q3Q4FYQ1Q2Q3Q4FY
201915.6 15.5 13.0 14.0 58.1 201917.0 %17.1 %17.2 %16.1 %16.8 %
202016.9 11.5 12.1 12.9 53.4 202019.2 %17.9 %19.1 %18.9 %18.8 %
Operating ExpensesOperating Expenses as a % of revenues
Q1Q2Q3Q4FYQ1Q2Q3Q4FY
201914.4 13.2 12.3 13.5 53.4 201915.7 %14.5 %16.2 %15.5 %15.5 %
202014.2 12.0 12.0 14.2 52.4 202016.2 %18.7 %19.0 %20.8 %18.5 %
Operating Profit (Loss)Operating Profit (Loss) %
Q1Q2Q3Q4FYQ1Q2Q3Q4FY
20191.2 2.3 0.7 0.5 4.7 20191.3 %2.5 %0.9 %0.6 %1.4 %
20202.7 (0.5)0.1 (1.3)1.0 20203.1 %-0.8 %0.2 %-1.9 %0.4 %
Income (Loss) Before Taxes
Q1Q2Q3Q4FY
20191.0 2.3 0.5 — 3.8 
20202.6 (0.5)0.1 (1.7)0.5 
Effective Income Tax Rate
Q1Q2Q3Q4FY
2019n.m.17.4 %n.m.n.m.5.3%
2020n.m.20.0 %n.m.n.m.n.m.
Net Income (Loss) Attributable to Stockholders
Q1Q2Q3Q4FY
20190.3 1.6 0.7 0.2 2.8 
20202.7 (0.6)0.1 (2.0)0.2 




Nuvera
(in millions, except percentage data)
Revenues
Q1Q2Q3Q4FY
20194.5 2.2 2.4 1.0 10.1 
20201.4 0.7 0.7 1.1 3.9 
Gross Profit (Loss)
Q1Q2Q3Q4FY
2019(1.8)(2.7)(3.1)(3.6)(11.2)
2020(2.6)(3.2)(2.7)(3.7)(12.2)
Operating Expenses
Q1Q2Q3Q4FY
20196.6 5.5 6.2 6.8 25.1 
20206.8 5.1 6.0 6.0 23.9 
Operating Profit (Loss)
Q1Q2Q3Q4FY
2019(8.4)(8.2)(9.3)(10.4)(36.3)
2020(9.4)(8.3)(8.7)(9.7)(36.1)
Income (Loss) Before Taxes
Q1Q2Q3Q4FY
2019(8.4)(8.2)(8.3)(10.0)(34.9)
2020(9.1)(7.9)(8.4)(9.4)(34.8)
Effective Income Tax Rate
Q1Q2Q3Q4FY
201927.4 %26.8 %30.1 %27.0 %27.8 %
202026.4 %26.6 %27.4 %25.5 %26.4 %
Net Income (Loss) Attributable to Stockholders
Q1Q2Q3Q4FY
2019(6.1)(6.0)(5.8)(7.3)(25.2)
2020(6.7)(5.8)(6.1)(7.0)(25.6)



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