Upload
others
View
2
Download
0
Embed Size (px)
Citation preview
Segment Sales QTD
Markets Served
Steel Processing 58% Automotive, Agriculture, Appliance, Heavy Truck and Construction
Pressure Cylinders 31% Retail, Industrial Gas, Alternative Fuels and Energy
Engineered Cabs 7% Agriculture, Construction, Mining, Military and Forestry
Worthington Industries Q1 2014 Investor Fact Sheet
OUR COMPANYThree Primary Business Segments
MARKETS SERVEDWorthington Industries serves approximately 5,000 customers with no single customer greater than 10% of sales.
Worthington Industries is a market leader in value-added steel processing, pressure cylinders and heavy equipment cab manufacturing. For fi scal 2013, the Company had $2.6 billion in annual sales and a market cap of $2.3 billion. Headquartered in Columbus, Ohio, Worthington Industries and its joint ventures have 82 facilities in 11 countries and 10,000 employees.
Worthington Industries has frequently been named one of the Most Admired Companies in the metals industry by Fortune Magazine and has also been one of Fortune’s 100 Best Companies to Work For four times.
Worthington’s Share of Joint Venture EarningsJoint ventures are strong contributors to the Company’s pre-tax income and cash fl ow. Market leading joint ventures are in acoustical grid ceilings, metal framing, laser welding and stamping.
2013 Investor Fact Sheet
2013 Investor Fact Sheet
2013 Investor Fact Sheet
29%
16%12%
8%
8%
7%
5% AutomotiveOtherRetailConstructionAgriculture IndustrialEnergy/Oil&GasHeavy TruckAlt Fuels
$0
$20
$40
$60
$80
$100
$10
$30
$50
$70
$90
101
49
65
93
76
2009 2010 2011 2012 *2013
27
3M 2014MILLIONS *Excludes Restructuring and Impairment Charges
13%
2%
(Millions) August 2013 August 2012
Total Assets $2,093.1 $1,805.5Total Debt 469.2 459.6Shareholders’ Equity 970.4 792.4
Debt/Capital 32.6% 36.7%
FINANCIAL SUMMARYIn millions, except per share 1Q2014 4Q2013 1Q2013 YTD2014 YTD2013
Net Sales $692.3 $704.1 $666.0 $692.3 $666.0Operating income (loss) 38.6 33.5 33.4 38.6 33.4Equity Income 27.0 21.0 22.6 27.0 22.6Net Earnings 54.6 33.5 34.0 54.6 34.0Earnings Per Share $0.76 $0.46 $0.49 $0.76 $0.49
$-0.50
$0.00
$0.50
$1.00
$1.50
$2.00
$2.50
2003 2004 2005 2006 2007 2008
2009
2010 2011 2012
$0.87
$1.49
$2.07
$1.50$1.31
$1.46
($0.02)
$0.88
$1.50$1.71
2013
$2.07
FISCAL 2004Record Level Steel Pricing
FISCAL 2013WI Achieves
Record Earnings Per ShareFISCAL 2007
CommodityBoom
FISCAL 2009U.S. Economic
Recession
NOTE: Fiscal years end May 31; from continuing operations; excludes special charges of $0.49 in 2004, $0.04 in 2005, $0.15 in 2008,$1.35 in 2009, $0.31 in 2010, $0.06 in 2012, $0.16 in 2013, $0.14 gain in 2006 and $0.03 gain in 2011.
Dividend Yield
2008 2010 2011 20122009
9
8
7
6
5
4
3
2
1
0
WOR
S&P 500
S&P Midcap 400
2013
GROWTH STRATEGyLeverage the Company’s core competency as a diversified metals manufacturing company.
GOAlS• Increase margins, free cash flow and
earnings consistency
• Acquire high-return, high value-added manufacturing businesses
• Excel at inventory management and customer satisfaction
• Maintain a strong capital base with
modest leverage and ample liquidity
RECENT HIGHlIGHTS• Acquired an additional 10% ownership
in TWB, the Company’s laser-welded blanks joint venture with ThyssenKrupp. As a result, 100% of TWB’s results are now consolidated with the Steel Processing business segment.
• Repurchased 880,500 shares for $30.5 million at an average price of $34.66, during the first fiscal quarter of 2014.
• Declared a quarterly dividend of $0.15 per common share on Sept. 25, 2013, paid Dec. 27, 2013 to shareholders of record Dec. 13, 2013.
Past performance does not guarantee future results. This fact sheet was designed to give a brief overview of Worthington
Industries, Inc. A complete description of the company, its operations and financial condition, including the company’s
consolidated financial statements can be obtained at WorthingtonIndustries.com.
Direct inquiries to Cathy M. Lyttle, Vice President–Corporate Communications and Investor Relations
614.438.3077 / [email protected]
WorthingtonIndustries.com
I N D U S T R I E SWORTHINGTON
PROFITABILITY AND STRONG DIVIDENDEarnings Per Share
FINANCIAL STRENGTHWith an investment grade credit rating of BBB/Baa3, Worthington Industries has the financial flexibility to capitalize on growth opportunities.
Worthington Industries Q1 2014 Investor Fact Sheet