Investor Presentation June 2011
Investor Presentation June 2011
During the course of this presentation, we may make projections or
other forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995.
We wish to caution you that such statements reflect only our current
expectations, and that actual events or results may differ materially
due to changes in global economic, business, competitive, market and
regulatory factors.
More detailed information about these factors is contained in the
documents that the Company files from time to time with the
Securities and Exchange Commission. We undertake no obligation to
update such projections or such forward-looking statements in the
future.
2
Forward Looking Statements
• Founded in 1917 in Carlisle, PA
• Organized in 5 reporting segments
• Derive ~15% of our sales from Global Markets
• Produce ~65% 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
3
Non Roofing
10%
Residential
5%
Commercial
85%
End Market Revenue
U.S.
OEM Aftermarket
Carlisle Construction Materials
0% 25% 50% 75% 100%
International
4
Construction6%
Power Sports / Recreation
36%
Lawn & Garden
37%
Agriculture13%
Other8%
OEM
U.S. International
0% 25% 50% 75% 100%
Aftermarket
Carlisle Transportation Products
End Market Revenue
5
Construction
35%
Mining19%
Aerospace
13%
On-highway6%
Agriculture10%
Other
Industrial17%
OEM
U.S.
Carlisle Brake & Friction
End Market Revenue 0% 25% 50% 75% 100%
Aftermarket
International
6
OEM
U.S.
0% 25% 50% 75% 100%
Aftermarket
International
Carlisle Interconnect Technologies
End Market Revenue
Military
18%
Commercial
Aerospace
80%
Test &
Measurement
2%
7
Healthcare
33%
Jan/San
12%
FoodService
55%
OEM Aftermarket
U.S. International
0% 25% 50% 75% 100%
Carlisle FoodService Products
End Market Revenue
8
1Q 2011 Sales
$694 Million
1Q 2011 EBIT
$55.2 Million
9
Sales & EBIT
Construction Materials
36%
Transportation Products
30%
Interconnect Technologies
10%
FoodService Products
8%
Brake & Friction16%
Construction Materials
27%
Transportation Products
23%Interconnect Technologies
14%
FoodService Products
8%
Brake & Friction 28%
10
LC, $31
Drawn, $110
$359
$0
$100
$200
$300
$400
$500
2012 2016 2018 2020
Available Under Revolver at
3/31/11
IRB & OtherSenior Notes
$149M
Senior Notes
$249M
Debt Maturity Schedule
In millions
Commentary
Cash on Hand of $104M
Revolving Credit Facility
availability of $359M
Hawk 8.75% senior unsecured
notes of $57M face amount
redeemed Jan 2011 for $59M
Debt to Cap ratio of 27%
Debt to EBITDA of 1.7
Strong Balance Sheet
11
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
11
12
• Sold Johnson Truck Bodies and Trail King
• Completed the integration of Carlisle, Heflin and Buji tire
plants into Jackson, Tennessee
• Acquired Hawk on December 1, 2010 for $414 million
• Secured long-term financing by issuing $250 million
5.125% bonds on December 9, 2010
Actions strengthen platform for long-term earnings growth
2010 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 through 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
13
Solar Current Return Network
New Products
R&D to Grow Sales Wind Energy Solutions
14
Brakes
Agriculture Tires
Aerospace Assemblies
Global Expansion to Grow Sales
15
+
Creates a global leader in braking solutions
Most Recent Acquisition
Acquisitions to Grow Sales
16
17