Investor Presentaiton
[5
2021 Outlook
UNI-SELECT®
There is significant uncertainty in the market related to the pandemic, the Brexit overhang and the
ongoing structural changes in the refinish market in the U.S., therefore, the following Outlook is based on
certain assumptions and visibility as of today.
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Q1-21 Consolidated Sales
Quarter-to-date consolidated organic growth stands
at -13.0%, with FM at -19.7%, CAG at -3.1% and TPA
at -10.2%
Temporary supply chain issues are expected to
continue in the 1st half of 2021
The Refinish/PBE markets will continue to be
behind previous COVID levels for the medium term
2021 - Business Segments
•
FM sales: 2021 sales expected to be up over 2020.
Market recovery is expected on a regional basis.
National and MSO sales are currently recovering
faster than independent channel
CAG & TPA: 2021 sales expected to be up over 2020
2021 Consolidated Profitability
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Adj. EBITDA & % expected to improve over 2020
Benefits from past CIP initiatives
.
Lower government subsidies
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CIP initiatives ongoing at Finish Master
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Net finance costs in line with 2020, excluding the loss
on debt extinguishment
Tax rate between 20% and 22%, excluding the
potential impact of the recent UK tax rate change
FINISHMASTER®
Automotive & Industrial Paint
(3 Bumper to Bumper Auto Parts Plus
CANADA'S PARTS PEOPLE
Parts Alliance
Local National Strength
•
2021 - Cash Flow & Debt
Capex for maintenance: ~$12M
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Capex for development: $10M-$16M
• Customer investments: $14M -$16M
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Expect total net debt to rise in Q1-21 vs Q4-20
due to seasonality, re-stocking and payments of
rebates to our members
Objective is to finish 2021 at similar debt level
of Q4, 2020 with improved leverage ratio
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