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Superior Industries International 4 th Quarter 2008 Results Earnings Conference Call February 26, 2009.

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Presentation on theme: "Superior Industries International 4 th Quarter 2008 Results Earnings Conference Call February 26, 2009."— Presentation transcript:

1 Superior Industries International 4 th Quarter 2008 Results Earnings Conference Call February 26, 2009

2 Page 1 Forward Looking Statements Any forward-looking statements made in this web cast are subject to the safe harbor provisions of the Private Securities Litigation Reform Act of Actual results could differ materially because of issues and uncertainties that need to be considered in evaluating our financial outlook. We assume no obligation to update publicly any forward-looking statements. Issues and uncertainties that are of particular significance at this time relate to global competitive pricing, customer financial stability, customer schedule volatility, potential declines in the production of cars and light trucks, and the successful completion of our strategic and operating plans. Please refer to the company’s SEC filings, including our Annual Report on Form 10-K, for a complete write-up on forward-looking statements and risk factors.

3 Page 2 Actions Taken in Q4 and 2008  Plant Closures –Pittsburg, Kansas facility, announced August 2008 –Van Nuys, California facility, announced January 2009 –Recorded impairment charge, $12.8M in Q4 and $17.8M in 2008 –Severance and related costs, $1.8M in Q4 and $2.7M in 2008  Reduced fixed expenses, savings of ~ $36M annually  Transfer of production to our lower cost Mexico plants; 66% of ongoing Superior production  Lowered headcount from plant closures and other layoffs by 1,569 (32.7%) from the end of 2007 to the end of 2008 –Capacity in line with expectations for the next several years, with room for growth

4 Page 3 Adjustments in Q4 and 2008  Gas Contracts marked-to-market; $1.6M charge in Q4  Johnson City, TN building impairment $698K  Impact of Suoftec-manufactured wheels $3.8M  Pittsburg Q4 manufacturing inefficiencies ~ $2.0M

5 Page 4 Strengthened Balance Sheet  Redeployment of Fixed Assets with NBV $8.3M (Cost $21.7M)  AR collections stable  Managed Inventory to appropriate levels; down $37M (35%) at year-end 2008 from prior year  2008 current ratio improved to 5.1:1 from 3.7:1  Generated positive cash flow Cash Balance Increased by $40M During 2008

6 Page 5 Historical SAAR and Superior Shipments Seasonally Adjusted Annual Rate (SAAR) expected to fall to 10.5 million in 2009 (average analyst prediction)

7 Page 6 4 th Quarter Overview Unaudited

8 Page 7 Q One-Time Net Expenses Unaudited

9 Page 8 Fiscal Year 2008 vs Overview Unaudited

10 Page One-Time Net Expenses Unaudited

11 Page 10 Summary Balance Sheets Unaudited

12 Page 11 Summary Cash Flow Statements Unaudited

13 Page 12 Conclusion  Results reflect structural changes made in 2008 –Two plant closures –32.7% overall headcount reduction in the year  Streamlined and lean going forward  Balance sheet is healthy –Cash balance increased $40M –Inventory levels are reasonable –Prudent management of fixed assets  Capacity and infrastructure have been right-sized Well positioned for the next several years


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