September 18, 2014 10:39 PM ET

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Company Overview of Affinia Group Intermediate Holdings Inc.

Company Overview

Affinia Group Intermediate Holdings Inc. manufactures and distributes filtration and replacement products in North America, Europe, South America, and Asia. It operates through Filtration and Affinia South America segments. The Filtration segment offers oil, air, fuel, hydraulic, and other filters for light, medium, and heavy duty on and off-highway vehicles; and construction, agriculture, mining, and forestry vehicles, as well as for industrial and marine applications. The Affinia South America segment provides fuel and water pumps, universal joint kits, axle sets, shocks, steering, filtration products, CV joints, brake products, suspension parts, motorcycle parts, electronics, and other af...

1101 Technology Drive

Ann Arbor, MI 48108

United States

Founded in 2004

6,266 Employees

Phone:

734-827-5400

Key Executives for Affinia Group Intermediate Holdings Inc.

Chief Executive Officer
Age: 52
Chief Financial Officer and Senior Vice President
Age: 46
President of Affinia Group S.A.
Age: 62
President of Global Chassis Group
Age: 58
Senior Vice President
Age: 55
Compensation as of Fiscal Year 2014.

Affinia Group Intermediate Holdings Inc. Key Developments

Affinia Group Intermediate Holdings Inc. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2014

Affinia Group Intermediate Holdings Inc. reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2014. For the quarter, the company reported operating profit of $43 million, net income from continuing operations of $14 million, net income of $35 million, net income attributable to the company was $35 million on net sales of $365 million against operating profit of $41 million, net loss from continuing operations of $3 million, net loss of $1 million, net loss attributable to the company was $1 million on net sales of $346 million for the same period a year ago. Adjusted EBITDA was $52 million against $47 million for the same period a year ago. Higher net income was driven by the gain on the sale of the Chassis group in the second quarter of 2014, improved sales and operating profit in the second quarter of 2014 and expenses incurred in the second quarter of 2013 associated with a debt refinancing. For the six months, the company reported operating profit of $68 million, net income from continuing operations of $12 million, net income of $34 million, net income attributable to the company was $34 million on net sales of $696 million against operating profit of $71 million, net income from continuing operations of $5 million, net income of $5 million, net income attributable to the company was $5 million on net sales of $672 million for the same period a year ago. Net cash provided by operating activities was $6 million against $26 million for the same period a year ago. Additions to property, plant and equipment was $11 million against $10 million for the same period a year ago. Adjusted EBITDA was $87 million against $84 million for the same period a year ago. Net debt as of June 30, 2014 was $746 million.

Affinia Group Intermediate Holdings Inc., Q2 2014 Earnings Call, Aug 08, 2014

Affinia Group Intermediate Holdings Inc., Q2 2014 Earnings Call, Aug 08, 2014

Affinia Group Intermediate Holdings Inc. Announces Consolidated Financial Results for the First Quarter Ended March 31, 2014

Affinia Group Intermediate Holdings Inc. announced consolidated financial results for the first quarter ended March 31, 2014. For the quarter, the company reported net sales of $331 million against $326 million a year ago. The $5 million period-over-period reported net sales increase was the result of increased sales within the Filtration segment, largely offset by lower sales in the Affinia South America segment due to declines in the value of the Brazilian Real and Argentine Peso. On a currency adjusted basis, net sales for the first quarter of 2014 improved by 8% or $27 million over the same period in 2013. Operating profit was $25 million against $30 million a year ago. The decrease was attributable to $7 million of restructuring and other costs in the first quarter of 2014, partially offset by higher operating profit in both the Filtration and Affinia South America segments. Income from continuing operations, before income tax provision, equity in income and noncontrolling interest was $2 million against $14 million a year ago. Net loss from continuing operations was $2 million against income from continuing operations of $8 million a year ago. Net loss attributable to the company was $1 million against net income attributable to the company of $6 million a year ago. The net loss in the first quarter of 2014 was driven by the impact of a currency devaluation in Venezuela. Net cash used in operating activities was $21 million compared to net cash provided by operating activities of $13 million for the same period a year ago. Additions to property, plant and equipment was $5 million against $4 million for the same period a year ago. EBITDA was $22 million against $35 million for the same period a year ago. The decrease in Reported EBITDA was due primarily to a $7 million currency devaluation in Venezuela and $7 million of restructuring and other costs in the first quarter of 2014, as well as unfavorable currency translation. Adjusted EBITDA was $36 million compared to $37 million in the corresponding period in the prior year.

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