Sidoti Deck
NN
Balance Sheet & Liquidity
Revised Capital Allocation Program
Increased Liquidity
(millions)
$50
$40
Implemented much tougher stance on balancing cash
$28.7
$30
$29.7
inflows with outflows, reducing leverage and
$20
increasing liquidity
$9.8
$1.5
$10
$12.8
$12.0
•
Showing strong early results
$0
Q2'23
Q3'23
Foreign Cash
Domestic Cash
Available Credit Line
3.37x leverage, increased liquidity
Plan to reduce leverage below 3x in 2024 while
implementing stronger, focused growth program
■ Targeted improvements in working capital
optimization, cost reductions, operational
improvement, and less facility closure spending
■ Capital expenditures of $4.1M in Q3'23 compared to
$4.3M in Q3'22
☐
Revised capital expenditure strategy with stronger
focus on growth
NN Inc., Sidoti Deck | November 2023
(Dollars in millions)
Q2'23
Q3'23
Short-term Debt
$8.9
$8.8
Long-term Debt
$153.3
$150.7
Funded Debt
$162.2
$159.5
Cash
$14.3
$21.8
Net Debt
$147.9
$137.7
TTM Adjusted EBITDA
$38.2
$40.9
Net Debt to Adjusted EBITDA
3.87x
3.37x
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