Investor Presentaiton
Working Capital / Debt
15
UNI-SELECT®
In Q1-21, working capital usage will increase between $50M to $80M:
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Seasonally softer revenues in Q4-20 and Q1-21 resulting in lower accounts receivables
• Cash outflow due to member rebates
• Cash outflows due to accounts payables, restocking and vendor financing
• Q1-21 total net debt will increase compared to Q4-20
•
•
Objective to finish 2021 at a similar debt level than 2020, with an improved leverage ratio
• No mandatory debt repayment in 2021
Cash outflow
• Increased customer investments
• Potential tuck-in acquisitions
Expect FCF to be lower in 2021 than 2020
• Increased capex
F FINISHMASTER®
Bumper to Bumper Auto Parts Plus
Parts Alliance
Automotive & Industrial Paint
SANADA'S PARTS PEOPLE
Local National Strength
48
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