LYDALL, INC. First Quarter 2021 Financial Review
April 28, 2021
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© LYDALL, INC. 2021
USE OR DISCLOSURE OF INFORMATION CONTAINED ON THIS SHEET IS SUBJECT TO THE RESTRICTIONS ON THE TITLE SLIDE | 1 |
Forward Looking Statement
This presentation contains "forward-looking statements" within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are intended to provide management's current expectations for the future operating and financial performance of the Company based on current expectations and assumptions relating to the Company's business, the economy and other future conditions, and generally can be identified through the use of words such as "believes," "anticipates," "may," "should," "will," "plans," "projects," "expects," "estimates," "forecasts," "predicts," "targets," "prospects," "strategy," "signs," and other words of similar meaning. These forward-looking statements are not guarantees of future results and are subject to risks, uncertainties and assumptions that could cause actual results to differ materially and adversely from those expressed in any forward-looking statement. Investors, therefore, are cautioned against relying on any of these forward-looking statements. Lydall's Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, and other Securities and Exchange Commission filings discuss important risk factors that could affect the Company's business, results of operations and financial condition.
These forward-looking statements speak only as of the date of this presentation, and Lydall does not assume any obligation to update or revise any forward-looking statement made in this presentation.
This presentation contains non-GAAP financial measures as defined by SEC regulations. The Appendix of this presentation includes a reconciliation to the most comparable GAAP measures.
USE OR DISCLOSURE OF INFORMATION CONTAINED ON THIS SHEET IS SUBJECT TO THE RESTRICTIONS ON THE TITLE SLIDE | 2 |
Q1-2021 Key Highlights
1
2
3
Strong sales growth in key end markets led by continued robust specialty filtration sales and strong automotive demand
Significant profitability improvements with adjusted EBITDA of $24.4 million, up 22% from prior year and 38% sequentially
Reduction in COVID related impacts in Thermal Acoustical operations; Proactively managing supply chain challenges
1 Net Debt = Total debt less cash
USE OR DISCLOSURE OF INFORMATION CONTAINED ON THIS SHEET IS SUBJECT TO THE RESTRICTIONS ON THE TITLE SLIDE | 3 |
Q1-2021 Financial Results
Sales | Adj. EBITDA1 | Adj. EBITDA |
$227.1M | $24.4M | Margin1 |
10.7% |
+13.3% | +22% | +70 bps |
vPY
1 Reference Appendix for reconciliation between adjusted and GAAP financials
USE OR DISCLOSURE OF INFORMATION CONTAINED ON THIS SHEET IS SUBJECT TO THE RESTRICTIONS ON THE TITLE SLIDE | 4 |
Liquidity and Cash Flow remain strong
$
Free Cash Flow1
($M)
63 | |
15 | |
TTM | TTM |
Q1-20 | Q1-21 |
Net Debt2
($M)
200 | |
172 | |
Q1-20 | Q1-21 |
Net Leverage3
2.5 | 2.4 |
Q1-20 | Q1-21 |
- Free Cash Flow = Net Cash provided by Operations less Capital Expenditures
- Net Debt = Total debt less cash
- Net Leverage = (Total Debt less Cash) / (TTM Adj. EBITDA)
USE OR DISCLOSURE OF INFORMATION CONTAINED ON THIS SHEET IS SUBJECT TO THE RESTRICTIONS ON THE TITLE SLIDE | 5 |
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Lydall Inc. published this content on 27 April 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 27 April 2021 20:22:05 UTC.
