BRUSSELS, Belgium, Sept. 07, 2017 (GLOBE NEWSWIRE) -- WABCO Holdings Inc. (NYSE:WBC) (www.wabco-auto.com), a leading global supplier of technologies and services that improve the safety, efficiency and connectivity of commercial vehicles, will provide an update on its strategies to deliver differentiating shareholder value creation at its Investor Day today at 60 Columbus Circle, North Tower, Time Warner Center, in New York, New York, U.S.A.
The theme of the business update is “Sustaining Differentiation”, focusing on WABCO’s roadmap to serve the industry as it converges on a vision for commercial vehicles to become increasingly more autonomous, connected and productive.
“WABCO is proud to be at the vanguard of technology innovation to serve both vehicle manufacturers and fleet operators,” said Jacques Esculier, WABCO Chairman and Chief Executive Officer. “Sustaining differentiation is at the heart of our company’s global, high-performance culture and the driving force behind our innovation pipeline. As we welcome investors and analysts today in New York, we will outline WABCO’s strategies that underpin its commitment to continue to deliver value creation for our shareholders.”
“As our industry enters a new dynamic era, WABCO remains focused on our proven strategies of technology leadership, globalization and excellence in execution to deliver shareholder value. Our aim is to further the industry’s vision for safer, more efficient and connected commercial vehicles through innovating key technologies that will ultimately enable key milestones towards fully autonomous driving,” said Esculier.
Speakers at the Investor Day are:
- Jacques Esculier, Chairman and Chief Executive Officer
- Alexander De Bock, Interim Chief Financial Officer
- Jorge Solis, President, Truck, Bus and Car Original Equipment Manufacturers Division
- Nick Rens, President, Trailer, Aftermarket and Off-Highway Division
- Christian Brenneke, Vice President, Engineering
Technology Leadership and Innovation
WABCO will highlight how its industry-leading technologies and services help advance vehicle safety and fleet productivity. Early anticipation, constant innovation and unique ability to frugally re-engineer its existing portfolio exemplify why commercial vehicle makers view WABCO as their supplier of choice, resulting in increasing adoption of WABCO technology worldwide.
WABCO is supporting the development of self-driving commercial vehicles, through active braking, active steering, electronic stability control and other advanced driver assistance systems. As part of that strategy, WABCO announced in August an agreement to acquire RH Sheppard Co., Inc, a key supplier of commercial vehicle technologies, with an industry-leading vehicle steering capabilities, based in Hanover, Pennsylvania, U.S.A., and a cooperation agreement with Nexteer Automotive, a global leader in intuitive motion control, headquartered in Auburn Hills, Michigan, U.S.A. These developments will enable WABCO to offer a cost-effective, breakthrough technological solution that enables active steering control for commercial vehicle manufacturers in North America and beyond.
Reflecting the advancement towards vehicle electrification, WABCO is also continuing to expand its portfolio of products to meet increasing demand for green and new energy vehicles.
Furthermore, commercial vehicles become more connected to the Internet of Things, WABCO also aims to empower commercial fleets to become more productive through offering fleet management solutions and Big Data capabilities to support them in streamlining their operating costs.
Returning Value to Shareholders
WABCO is firmly on a path to provide a differentiated offering to its customers around the globe. With a rich reservoir of organic growth, a relentless drive to generate productivity, and unique capability in frugal engineering, WABCO is reiterating its commitment to outperform the commercial vehicle market by 6 to 10 percent over a five-year period.
WABCO Webcast
A live webcast of WABCO’s Investor Day will be streamed simultaneously on the Investor Relations page of the company’s website at www.wabco-auto.com/investordaywebcast. The webcast will begin at 8:30 A.M. Eastern Standard Time (EST) and conclude by 1:00 P.M. EST. A replay will be available at the same site following the event. Presentations can be downloaded from WABCO’s website at www.wabco-auto.com/investorday.
WABCO Attachment
Reconciliation of GAAP to Non-GAAP Financial Measures for Full-Year 2017 Guidance
About WABCO
WABCO (NYSE:WBC) is a leading global supplier of technologies and services that improve the safety, efficiency and connectivity of commercial vehicles. Founded nearly 150 years ago, WABCO continues to pioneer breakthrough innovations for advanced driver assistance, braking, stability control, suspension, transmission automation and aerodynamics. Partnering with the transportation industry as it maps a route toward autonomous driving, WABCO also uniquely connects trucks, trailers, cargo, drivers, business partners and fleet operators through advanced fleet management systems and mobile solutions. WABCO reported sales of $2.8 billion in 2016. Headquartered in Brussels, Belgium, WABCO has 13,000 employees in 40 countries. WABCO’s 2016 Annual Report is available at www.ar.wabco-auto.com. For more information, visit www.wabco-auto.com.
WABCO Investors and Analysts Contact
Alexander De Bock, +1 248 270 9287, investorrelations@wabco-auto.com
WABCO Forward-Looking Statements
This document contains certain “forward-looking statements” as defined by the Private Securities Litigation Reform Act of 1995 that are based on management's good faith expectations and beliefs concerning future developments. Statements preceded by, followed by or that otherwise include the words “believes,” “expects,” “anticipates,” “strategies,” “prospects,” “intends,” “projects,” “estimates,” “plans,” “may increase,” “may fluctuate,” and similar expressions or future or conditional verbs such as “will,” “should,” “would,” “may” and “could” are generally forward looking in nature and not historical facts. Actual results may differ materially from these expectations as a result of many factors. These factors include, but are not limited to, the actual level of commercial vehicle production in our end markets, adverse developments in the business of our key customers, pricing changes to our supplies or products, our ability to successfully integrate any acquired businesses or our acquired businesses not performing as planned, our ability to mitigate any tax risks, including, but not limited to those risks associated with changes in legislation, tax audits and the loss of the benefits associated with our tax rulings and incentives in certain jurisdictions, and the other risks and uncertainties described in the “Risk Factors” section and the “Information Concerning Forward Looking Statements” section of WABCO’s Form 10-K, as well as in the “Management's Discussion and Analysis of Financial Condition and Results of Operations - Information Concerning Forward Looking Statements” section of WABCO’s Form 10-Q Quarterly Reports. WABCO does not undertake any obligation to update such forward-looking statements. All market and industry data are based on company estimates.
| WABCO HOLDINGS INC. AND SUBSIDIARIES | ||||||||||||
| Reconciliation of GAAP to Non-GAAP Financial Measures for Full Year 2017 Guidance | ||||||||||||
| (Unaudited) | ||||||||||||
| (Amounts in millions, except per share data) | ||||||||||||
| Full Year 2017 Guidance | ||||||||||||
| Sales | ||||||||||||
| Reported Sales | $3,025.0 - $3,100.0 | |||||||||||
| (1 Euro = 1.1 USD) | ||||||||||||
| Operating Income | ||||||||||||
| Reported Operating Income Margin | 13.3% - 13.7% | |||||||||||
| Streamlining cost, impact to margin | 0.4% | |||||||||||
| Separation costs, impact to margin | 0.1% | |||||||||||
| Acquisition related items, impact to margin | 0.5% | |||||||||||
| Performance Operating Income Margin | 14.3% - 14.7% | |||||||||||
| Net Income Attributable to Company | ||||||||||||
| Reported Net Income Attributable to Company | $308.8 - $324.9 | |||||||||||
| Streamlining cost | 13.0 | |||||||||||
| Separation costs | 3.0 | |||||||||||
| Acquisition related items | 14.0 | |||||||||||
| Tax items (1) | (13.3) | |||||||||||
| Performance Net Income Attributable to Company | $325.5 - $341.6 | |||||||||||
| Reported Net Income Attributable to Company per Diluted Common Share | $5.74 - $6.04 | |||||||||||
| Performance Net Income Attributable to Company per Diluted Common Share | $6.05 - $6.35 | |||||||||||
| Diluted common shares outstanding | ~ 54 | |||||||||||
| (1) Includes the tax impacts of the above items, calculated based on the statutory tax rates applicable to each adjustment for the jurisdiction from which the adjustment arises. | ||||||||||||
| Note: The presentation of performance net income and performance net income per diluted common share is not in conformity with generally accepted accounting principles (GAAP). These measures may not be comparable to similar measures of other companies as not all companies calculate these measures in the same manner. | ||||||||||||