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  • Q2 2016 Investor Presentation

  • 2

    Legal Disclaimer

    This presentation contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995.

    All statements contained in this presentation that do not relate to matters of historical facts should be considered forward-looking

    statements, including statements regarding our expectations regarding growth of our end-markets; projected U.S. construction

    growth rate and spending and projected U.S. rental industry revenue growth rate; estimated exposure to the oil and gas industry; our

    business strategy, including our plan to identify new customers, equipment demand opportunities, greenfield opportunities, and

    investment and divestiture opportunities; our 2016 outlook, including without limitation, statements regarding our forecasted revenue,

    Adjusted EBITDA, our expected rental rates, time utilization and net capital expenditures; and guidance regarding our 2016 target

    leverage ratio. We use words such as "will," "expect," "believe," "continue," "estimate," "intend," "target" and other similar expressions

    to identify some but not all forward-looking statements. Forward-looking statements involve estimates and uncertainties that could

    cause actual results to differ materially from those expressed in the forward-looking statements.

    The forward-looking statements contained in this presentation are based on assumptions that we have made in light of our industry

    experience and our perceptions of historical trends, current conditions, current plans, expected future developments and other

    important factors we believe are appropriate under the circumstances. As you read and consider this presentation, you should

    understand that these statements are not guarantees of performance or results. They involve risks, uncertainties (many of which are

    beyond our control) and assumptions. Although we believe that these forward-looking statements are based on reasonable

    assumptions, you should be aware that many important factors could affect our actual operating and financial performance and

    cause our performance to differ materially from the performance anticipated in the forward-looking statements. We believe these

    important factors include, but are not limited to, the important factors described under the captions "Risk Factors" and

    "Management's Discussion and Analysis of Financial Condition and Results of Operations" in the Company's annual report on Form

    10-K for the fiscal year ended December 31, 2015 filed with the Securities and Exchange Commission ("SEC") on March 8, 2016 and

    similar disclosures in subsequent reports filed with the SEC, which could cause actual results to differ materially from those indicated

    by the forward-looking statements made in this presentation. Should one or more of these risks or uncertainties materialize, or

    should any of these assumptions prove incorrect, our actual operating and financial performance may vary in material respects from

    the performance projected in these forward-looking statements.

    Further, any forward-looking statement speaks only as of the date on which it is made, and except as required by law, we undertake

    no obligation to update any forward-looking statement contained in this presentation to reflect events or circumstances after the date

    on which it is made or to reflect the occurrence of anticipated or unanticipated events or circumstances. New important factors that

    could cause our business not to develop as we expect emerge from time to time, and it is not possible for us to predict all of them.

    In addition to the financial measures prepared in accordance with U.S. generally accepted accounting principles (US GAAP), this

    presentation contains the non-US GAAP financial measures EBITDA and Adjusted EBITDA. The reasons for the use of these

    measures, a reconciliation of these measures to the most directly comparable US GAAP measures and other information relating to

    these measures are included in the appendix to this presentation.

  • Graham Hood

    Chief Executive Officer

  • Company at a Glance

    4

    Leading Regional Rental

    Equipment Provider

    Sunbelt Region

    Focus area

    +15,200 (1)

    Customers served

    Differentiated Emphasis on

    Earthmoving Equipment

    ~$827 million (2)

    Original Equipment Cost (OEC)

    ~54% (2)

    of OEC focused on earthmoving category

    Well Positioned in

    Key End-Markets

    Key End-Markets

    Infrastructure, Non-Residential Construction, Oil & Gas, Municipal, and

    Residential Construction

    ~6% (3)

    Expected weighted average CAGR of key end-markets through 2019

    Compelling

    Financial Performance

    ~19% (4)

    Adjusted EBITDA CAGR from 2011

    to June 30, 2016

    ~51% (4)

    Adjusted EBITDA margin

    Proven Management Team with

    Deep Roots in Rental

    ~1,135 full-time employees (2)

    Located in 68 branches and the Company headquarters

    ~19 years

    Average tenure Regional VPs have with Neff Rental

    Notes:(1) Company data for the last twelve months ended June 30, 2016(2) As of June 30, 2016(3) Includes infrastructure, non-residential construction, oil and gas, municipal and residential construction end-markets(4) For a reconciliation of net income to Adjusted EBITDA, see page 17

  • Business Strategy

    5

    Focus on Premium Customer Service

    Continue to deliver best-in-class service and support to our long-standing customer base

    Remain focused on our technical edge with respect to earthmoving equipment

    Rigorous use of CRM and national account program to further penetrate our current customer base andidentify new customer opportunities

    Emphasis on Active Asset Management

    Focus on

    Growing Markets

    Capitalize on

    Operating Leverage

    Ability to Generate

    Free Cash Flow

    Remain committed to our focused position in the Sunbelt region of the United States

    Continue to exploit and develop opportunities in the infrastructure, non-residential construction, residential construction, and oil and gas end markets

    Utilize real time data to improve rental rates and identify equipment demand opportunities

    Maintain rigorous repair and maintenance program to increase time utilization and equipment longevity

    Disciplined fleet investment and divestiture strategy driven by ROIC benchmarks and real time market dynamics

    Remain committed to our focused position in the Sunbelt region of the United States

    Continue to exploit and develop opportunities in the infrastructure, non-residential construction, oil andgas, municipal and residential construction end-markets

    Take advantage of our current branch network and clustering strategy to add incremental fleet to ourcurrent footprint

    Identify and evaluate one to three greenfield opportunities that meet our stringent return criteria and fitwell within our current branch network.

    Maintain operational flexibility to generate significant cash flow through various business cycles

    Rely on our disciplined growth strategy and fleet investment criteria to make capital investmentdecisions

    Divest fleet when deemed appropriate and when secondary equipment market demand is robust

    Utilize real time data to improve rental rates and identify equipment demand opportunities

    Maintain rigorous repair and maintenance program to increase time utilization and equipment longevity

    Disciplined fleet investment and divestiture strategy driven by ROI benchmarks and real time marketdemand dynamics

  • 6

    632689

    745803

    840 848891

    991

    1,1041,1671,152

    1,068

    903

    806 788850 906

    9931,099

    1,1631,217

    1,267 1,318

    18 20 2425 26 26 28

    3134

    38 41 4134 35

    3741 44

    47 5053 55

    58 61

    $10

    $30

    $50

    $70

    $90

    $500

    $750

    $1,000

    $1,250

    $1,500

    1997A 1999A 2001A 2003A 2005A 2007A 2009A 2011A 2013A 2015A 2017E 2019E

    FMI IHS/ARA

    U.S. Construction Spending vs. U.S. Rental Industry Revenues

    Total U.S. Construction Spending

    $Bn

    U.S. Rental Industry Revenues

    $Bn

    Notes:(1) Architectural Billings Index (ABI) data as of May 2016(2) 19972019 FMI Construction Outlook as of Q2 2016(3) 19972019 Total U.S. Rental Market Revenue data from IHS Global Insights report as of April 2016

    U.S. Equipment Rental Market Overview

    ABI in Perspective (1)

    Control expenses and conserve capital

    Access to the right equipment for the job

    24/7 Customer care

    Eliminate the need for long-term maintenance

    Minimize need for storage and transportation

    Technical expertise and advice is available

    Why Our Customers Choose to Rent vs. Own

    (2) (3)

    30

    40

    50

    60

    70

    May-98 May-01 May-04 May-07 May-10 May-13 May-16

    Exp

    an

    sio

    n

    Co

    ntra

    ctio

    n

    Expansion Expansion

    Pent-up Demand

  • 7

    Diversified Footprint and End-Markets

    Sunbelt Region Overview

    Key attributes of the Sunbelt region include:

    Favorable climate conditions limit seasonality and facilitate year-round construction activity

    Historically, higher than average equipment rental revenue growth rates when compared to other states outside of the Sunbelt

    region (3)

    Forecasted US rental industry revenue growth for 2016 is 5.6%. Rental industry revenue growth for states with Neff branch

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