2011 august investor presentation
TRANSCRIPT
Investor PresentationAugust 2011
During the course of this presentation, we may make projections orother forward-looking statements within the meaning of the PrivateSecurities Litigation Reform Act of 1995.
We wish to caution you that such statements reflect only our currentexpectations, and that actual events or results may differ materiallydue to changes in global economic, business, competitive, market andregulatory factors.
More detailed information about these factors is contained in thedocuments that the Company files from time to time with theSecurities and Exchange Commission. We undertake no obligation toupdate such projections or such forward-looking statements in thefuture.
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Forward Looking Statements
• Founded in 1917 in Carlisle, PA• Organized in 5 reporting segments• Derive ~18% of our sales from Global Markets• Produce ~54% of revenue from aftermarket• Manufacture and distribute in 75 facilities worldwide
– 63 in North America– 7 in China– 1 in Japan– 4 in Europe
Carlisle Overview
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Commercial83%
Non Roofing13%
Residential4%
End MarketRevenue
U.S.
OEM Aftermarket
Carlisle Construction Materials
0% 25% 50% 75% 100%
International
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Aftermarket
Construction7%
Power Sports / Recreation
36%Lawn & Garden
37%
Agriculture14%
Other6%
U.S. International
0% 25% 50% 75% 100%
Aftermarket
Carlisle Transportation Products
End MarketRevenue
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OEM
Construction35%
Mining19%
Aerospace13%
On-highway6%
Agriculture10%
Other Industrial
17%OEM
U.S.
Carlisle Brake & Friction
End MarketRevenue 0% 25% 50% 75% 100%
Aftermarket
International
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OEM
U.S.
0% 25% 50% 75% 100%
Aftermarket
International
Carlisle Interconnect Technologies
End MarketRevenue
Commercial Aerospace
68%
Military16%
Test & Measurement
5% Other11%
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Foodservice59%
Healthcare29%
Jan/San12%
OEM Aftermarket
U.S. International
0% 25% 50% 75% 100%
Carlisle FoodService Products
End MarketRevenue
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Aftermarket
2011 Q2 YTD Sales $1,564.4 Million
2011 Q2 YTD EBIT$140.6 Million
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Sales & EBIT
Construction Materials
42%
Transportation Products
26%
Interconnect Technologies
9%
FoodService Products
8%
Brake and Friction15%
Construction Materials
44%
Transportation Products
13%
Interconnect Technologies
13%
FoodService Products
7%
Brake and Friction23%
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LC, $31
Drawn, $100
$369
$0
$100
$200
$300
$400
$500
2012 2016 2018 2020
Available Under Revolver at
6/30/11
IRB & OtherSenior Notes
$149M
Senior Notes
$249M
Debt Maturity ScheduleIn millions
Commentary
Cash on Hand of $99M
Revolving Credit Facility availability of $369M
Acquisition of PDT in Germany for €80M funded with cash on hand and revolver
Debt to Cap ratio of 26%
Debt to EBITDA of 1.5
Strong Balance Sheet
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5, 15, 30, 15, 15 Strategy
• $5 billion in sales
• 15% EBIT margins
• 30% of revenue outside US
• 15% ROIC
• 15% working capital as a % of sales
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• Acquired Hawk on December 1, 2010 for $414 million
• Secured long-term financing by issuing $250 million 5.125% bonds on December 9, 2010
• Acquired PDT on August 1, 2011 for €80 million
Actions strengthen platform for long-term earnings growth
Strategic Actions
• Created Carlisle Operating System (COS) based on Lean and Six Sigma techniques to improve operations- Eliminate waste in production and business processes
- Increase velocity, improve manufacturing efficiencies and reduce inventory
• Generated annualized savings of $25 million in 2010
• Expect $20 million additional savings in 2011 and 2012
• Reduced manufacturing and warehouse space by 2.7 million square feet (18%) while increasing capacity
Annual operating expense reduction estimated to be over $70 million
Carlisle Operating System
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SolarCurrent Return Network
New Products
R&D to Grow SalesWind Energy Solutions
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Brakes
Agriculture Tires
Aerospace Assemblies
Global Expansion to Grow Sales
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+Creates a global leader in braking solutions
Most Recent Acquisition
Acquisitions to Grow Sales
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+Creates a global leader in single-ply roofing solutions
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