SlideShare a Scribd company logo
1 of 32
Download to read offline
Barclays
High Yield and Syndicated Loan Conference
June 11, 2015
Management
1
Sherry Buck
Vice President, Chief Financial Officer
Material presented at this meeting includes forward-looking
statements about Libbey Inc. These statements are subject to
risks and uncertainties, including market conditions, competitive
pressures, the value of the U.S. dollar and significant cost
increases.
Please refer to the Company’s Form 10-K for
fiscal year-end December 31, 2014, filed on
March 13, 2015, for further information.
Cautionary statement
2
Libbey today: fact sheet
Employs approximately 6,500
associates across the globe
Libbey sells more than
1,000,000,000 glasses annually
Second largest glass tableware
manufacturer in the world!
# 1 in the Americas
In 2014, Libbey’s net sales totaled
$852.5 million. Sells into 3
channels: FS, Retail and B2B
3
Our customers represent the
world’s largest foodservice
distributors and the world’s most
recognized retail brands
Today Libbey competes in four categories
of products
4
Category Products Manufacturing
Glass
Tableware
• Tumblers, stemware, mugs, bowls,
floral, salt shakers, shot glasses,
canisters, candleholders
In-house
Other
Glass
Products
• Bakeware, handmade tableware,
blender jars, mixing bowls, floral,
candle, and washing machine windows
In-house
Ceramic
Dinnerware
• Plates, bowls, platters, cups, saucers,
and other tableware accessories
Sourced
Metalware
• Knives, forks, spoons, serving utensils,
serving trays, pitchers, other metal
tableware accessories
Sourced
~90%
of
sales
~10%
of
sales
Libbey has a broad customer base spanning
three key channels
• A network of over 500 of the world’s
finest distributors who ultimately sell
to hotels, restaurants, bars, etc.
• #1 supplier of glass tableware, #2
supplier of dinnerware/flatware in the
U.S. and Canada
• Offered entire tabletop since 1997
• 90% of sales are replacements,
driving predictable revenue stream
• Beverages are the most profitable
sales item for a restaurant
• Customers include marketers who
brand Libbey glassware with
company logos and resell to
breweries, distilleries, soft drink
companies, craft industries and food
packing companies
• Products include candle and floral
applications, blender jars, mixing
bowls, and washing machine glass
• Profitable channel. Volume provides
factory utilization
Foodservice Retail
Business-to-Business
(B2B)
• Primary customers include leading
mass merchants as well as
specialty, grocery, value-oriented
and e-tail stores
• The leading supplier of casual glass
beverageware in North America
• Strong brand recognition
• Important driver of factory utilization
5
No single customer accounts for 10% or more of sales
Industry-leading and customer logistics-friendly
footprint
6
West Chicago, IL
Toledo,
OH
Shreveport,
LA
Monterrey,
Mexico
Laredo, TX
Libbey Manufacturing & Warehousing / Distribution
Marinha
Grande,
Portugal
Leerdam,
Netherlands Langfang,
China
Libbey Warehousing / Distribution
Million Total Sq. Ft.
Libbey Warehousing /
Distribution Centers7 8Libbey Manufacturing
Facilities6
Libbey is a company with a rich history …
7
Aug 2011:
Stephanie
Streeter
becomes CEO
Jun 2006: Obtains
remaining 51%
stake in Crisa,
expanding presence
to Monterrey,
Mexico
Jan 2005: Acquires
Crisal, a glassware
manufacturer based
in Portugal
1800s 1990
Jul 2013:
Celebrates 125th
Anniversary in
Toledo
2002 2006 20112008 20122000
Dec 2002: Acquires Royal
Leerdam, expanding
glassware operations to
Europe
May 2012:
Refinancing
amended $100MM
ABL facility
and issuance of
$450MM 6.875%
Senior Secured
Notes
April 2007:
Opens Langfang,
China facility
Aug 1997:
Acquires World
Tableware and
49% of Crisa
2014
April 2014:
Refinancing,
including amended
$100MM ABL
Facility and new
$440MM Term
Loan B senior
secured credit
facility
1818: Libbey
founded as New
England Glass
Company in East
Cambridge, MA
s
Jun 1993:
Libbey becomes
a public company
1892:
The company
changes its name
to The Libbey
Glass Company
Oct 1995:
Acquires
Syracuse China
Aug 2011: Bill
Foley becomes
Chairman of the
Board
2015
Jan 2015:
Announce Own the
Moment strategy.
Re-initiate dividend
and share
repurchases
…Libbey is entering a new phase of its development
8
Recovery and
reinforcement
• Focus on cost reduction
and de-leveraging
• Took substantial cost
containment measures
• Reduced leverage to
~3x 2014 adjusted
EBITDA
• Continued strengthening
and building business (by
reinvesting 2/3 of cash flow)
• Mexican production
best-in-class for US
market
• Entered China for long-
term opportunities
Ambitious growth
coupled with great
recession led to crisis
• Acquisition-focused growth
(on average +10% annually
from 2001 to 2008)
• Substantial increases in
leverage (up to unsustainably
high levels of 7x adjusted
EBITDA)
Winning from position
of strength
Libbey clearly positioned as
market leader with strong
profitability and cash flows
Focus on creating strong and
sustainable value for our
shareholders
• Three strategic levers
• Organic expansion of
business
• Selective acquisitions to
expand geographic
footprint and product
categories
• Return cash to
shareholders via
dividends and share
repurchases
2001 - 2009
2009 - 2014
2015 - 2020
Libbey is in a fundamentally more stable
position than at any time in the last decade
9
LBY 2007 LBY 2011 LBY 2014
Market cap ($MM) 231 259 686
Adjusted EBITDA margin (%) 14.3% 13.8% 14.5%
3 yr avg cash flow yield (%) ~0 6% 4%
Leverage (Net debt/Adj. EBITDA) 4.0 3.0 3.1
Credit rating B B+ BB-
US pension funding (47) (95) (11)
Annual interest expense ($MM) 66 43 23
ROIC (%) 8.5% 11.0% 12.2%
(1) Cash flow is defined as cash flow from operations less capital expenditures plus payment of interest on PIK notes in 2010 and adjusted for the supplemental
pension contribution in 2012
Committed to aligning our business and
financial levers to drive strong, sustainable
Total Shareholder Return
10
1
2
3
Objective:
Deliver
sustained top-
quartile TSR for
Libbey’s
shareholders
Leverage positions of strength
to drive above market growth
and expand margins
Make strategic and
opportunistic investments to
bolster core positions
Commit to disciplined capital
management and significant
capital return to investors
Business
Strategy
Financial
Strategy
1111
Grow & Bolster Americas
• Grow around core in
Foodservice
• Win in key accounts in Retail
& B2B
• Strengthen/broaden offerings
• Expand to adjacencies
• Redefine pricing/promotions
Maximize Returns in Asia
Pacific & EMEA
• Targeted investments to drive
value and differentiation
• Drive cost efficiency
• Expand presence where
under-served
• Build presence in growth
channels
Establish Foundation of
Excellence
• Supply Chain
• Talent & culture
• Commercial capabilities
• Information Technology
• Financial structure/capital
deployment
11
Strategy expected to drive organic revenue growth
over $1B and adjusted EBITDA margins of 17%-
18% by 2018
12
• Segment and geographic
expansion
• Adjacency categories
• New products and innovation
• Pricing and promotion
structures
16.4%
17 - 18%
2013 2018
• Volume leverage
• Productivity
• Supply chain efficiencies
Adjusted EBITDA Margin
(%)
$819
$1B+
2013 2018
Net Sales
($MM)
(E) (E)
Long-term financial goals established
13
Financial Metric Goal 2018 E
Revenue growth 4% to 6% $1B +
Adjusted EBITDA margins 15% to 18% 17% to 18%
Net debt to adjusted EBITDA 2.5 to 3.0 X 2.5 to 3.0 X
ROIC Maintain 11% to 13% 12% to 14%
TSR Top quartile Top quartile
1. Leading market position and strong brand portfolio
2. #1 U.S. Foodservice business drives significant recurring revenue and
profitability;
#1 North American retail position drives consumer recognition, utilization
and incremental profitability
3. Established global presence with significant growth potential
4. Cost structure optimization combined with manufacturing innovation
provide additional barriers to entry
5. Enviable balance sheet: Strong cash flow, liquidity and credit profile
6. Balanced approach to capital allocation
Investment highlights
14
#1 producer of casual glass beverageware in the Western Hemisphere
10% global market share(1)
Market leadership in U.S. and Mexico
~58% share of U.S. foodservice glass beverageware market (1)
~55% share of Mexican glass tableware market (1)
#1 casual glass beverageware position in the U.S. retail channel (2)
Leading position as producer of casual glass beverageware in the EU
Strong shelf position with major retailers:
Recognized for excellence by leading foodservice distributors:
Leading market position and strong brand
portfolio
(1)
(2)
Management estimate
NPD Group Retail Tracking Service
1
15
Strong brand portfolio1
16
→ Extensive product line ranging from tumblers to fine stemware
→ Leading producer of glass tableware in Mexico and Latin America
→ Provides an expanded presence in Europe from tumblers to stemware
→ Among the world leaders in producing and selling glass stemware
→ “Class of glass”; high performance for every occasion
→ Fine Bavarian crystal; crystal glassware specialist
→ Broad selection of unique dinnerware, flatware, hollowware
→ Broad range of dinnerware with distinctive designs and durable qualities
→ One of the world’s leading providers of high-end porcelain for foodservice
→ One of world’s foremost marketers of fine tableware, including flatware,
stemware and dinnerware
90% of
2014
Sales
10% of
2014
Sales
Manufactured
Sourced
#1 US & Canada Foodservice
• 90% of Foodservice glass sales are replacements and drive a predictable
revenue stream
• Strong distribution network and in-house salesforce are a competitive
advantage
• Depth and breadth of product line maximizes addressable market and
highlights innovation capabilities
• High switching costs, as food service establishments rarely change after initial
investment
• Steady pace of innovation and critical profitability of beverageware creates
lower price sensitivity; 41 of 45 years with a price increase
• Sourced dinnerware and flatware provides additional growth opportunity at very
attractive ROIC
#1 in Western Hemisphere and
#1 in North America2
17
Additions of Schönwald and Reed & Barton combine with
Spiegelau and Nachtmann to create the Artistry Collection™
18
2 “A complete premium tabletop offering”
Introducing Infinium: the premium experience in
plastic drinkware
19
2 “Mimics the clarity of glass and is virtually unbreakable”
#1 North America Retail Position
• #1 Retail brand by wide margin in US, Canada and Mexico
• Ability to provide products across multiple price points leverages foodservice
and B2B costs and capabilities
• Important driver of factory utilization
• Enhances trend/product life and innovation platform
• Important for brand recognition and brand loyalty
2
20
#1 in Western Hemisphere and
#1 in North America
Introducing: Modern Bar™
21
2 “Graces the entertainment experience with simplicity and style”
22
Libbey on social media2
Established global presence with
significant growth potential3
Americas
69%
Other
4%US Sourcing
10%
EMEA
17%
2014 Sales by Segment
2014 Adj. EBITDA by Segment
Americas
79%
EMEA
10%
US Sourcing
5%
Other
6%
23
Grow and bolster Americas
Grow around core foodservice business
Expand in additional categories and market
segments in retail and B2B
Strengthen and broaden product offerings
Maximize returns in Asia Pacific and EMEA
Complements Americas’ leadership position
EMEA: reconfigure the business through targeted
investments
Asia Pacific: selective growth with managed
investment
Expand footprint in underserved and emerging market
segments
Executed multiple cost reduction initiatives as part of Libbey
2015
Workforce optimization
Productivity improvements
Realignment of capacity
Own the Moment continues focus on operating efficiencies
Reduce manufacturing complexity
End-to-end supply chain management
Optimize manufacturing output through improved sales and
operations planning
Innovation and world class manufacturing technologies create
competitive advantage
R&D innovation/disruptive technology - Shreveport investment
Over 150 new glassware shapes and over 350 new
flatware/tableware items in 2014 alone
Leading proprietary furnace, manufacturing and mold technologies
Cost optimization combined with manufacturing
innovation provides additional barriers to entry4
24
Position of strength and business model drive
predictable revenue stream and cash flow
Note: (A) Operating cash flow adjusted for the supplemental pension contribution in 2012, call premiums on senior notes, and debt
issuance costs.
25
Net Sales
($ MM)
Historical Cumulative Adj
Operating Cash flow
2008 – 2014(A)
($ MM)
810
749
800
817
825
819
852
2008 2009 2010 2011 2012 2013 2014 (1)
105
176
233
358
432
558
2008 2009 2010 2011 2012 2013 2014
5
6.4
4.3
3.3 3.0 3.0 2.7 3.1
2008 2009 2010 2011 2012 2013 2014
1.2 1.4
2.5 2.6
3.5
4.2
5.4
2008 2009 2010 2011 2012 2013 2014
Significant deleveraging despite investments to strengthen the
business
Fully funded supplemental U.S. pension in 2012 lowered
annual cash contributions ~$15MM
Capex investments similar to D&A on average; now able to
invest in growth technology for future success
Meaningful liquidity
$79.6MM available under ABL at 3/31/15
$18.6MM cash on balance sheet at 3/31/15
Significant reduction in interest rates since 2011
Annual interest expense reduced ~ 50% ($20MM)
Capital structure
Senior secured credit facility $440MM; maturity 2021
LIBOR plus 300 bps (currently 3.75%)
No financial covenants
$150MM accordion option
$100MM ABL credit facility
LIBOR plus 150-200 bps; maturity 2019
Capital structure and liquidity remains strong5
26
Adj. EBITDA / Interest Expense
Net Debt / Adj. EBITDA
Cash on
hand +
ABL
Cash from
operations
Balanced approach to capital allocation6
27
Invest in
the
business
Maintain
financial
strength
and
flexibility
Return
capital to
investors
• Support/accelerate organic growth
• New technologies & manufacturing capabilities
• Acquisitions aligned with strategy
• Other strategic initiatives
• Re-initiated quarterly dividend
o $0.11 per share, highest in company history
o 1.5% yield on day of initiation
• Share repurchases through 10b5-1
o Authorization increased to 1.5M shares in
January 2015
o Repurchased over 294K shares as of
March 31, 2015
o Expect to return 50% of free cash flow to
shareholders over next three years
Available Cash
2015-2018
$500-$600(MM)
• Strong & flexible balance sheet
• Long-term net debt to Adjusted EBITDA
target of 2.5x – 3.0x, with ability to flex up or
down
$181.6 $187.4
$-
$50
$100
$150
$200
Millions
Net Sales
1st Qtr 2014 1st Qtr 2015
Revenue growth of over 8% on a constant
currency basis in Q1 2015
28
3.2% Growth
8.4% on Constant Currency
$20.0 $19.7
$-
$5
$10
$15
$20
$25
Millions
Adjusted EBITDA
1st Qtr 2014 1st Qtr 2015
11.0% 10.5%
0%
2%
4%
6%
8%
10%
12%
Adjusted EBITDA Margin
1st Qtr 2014 1st Qtr 2015
Full Year Outlook:
• Net sales growth on a constant
currency basis of 5.0% to 6.0%
• EBITDA margin to be
approximately 15.0%
Libbey: creating shareholder value now
and in the future
29
• Leading market positions and strong brand portfolio
• Superior production footprint and execution capabilities
• Strategies in place to drive sustainable growth
• Enviable balance sheet: strong cash flow, liquidity and credit profile
• Balanced capital allocation: flexibility to invest in the business and
return capital to shareholders
Libbey TSR: achieving top quartile performance
Libbey S&P 1500 Peer*
1-Year 54% 10% 18%
3-Year 46% 14% 15%
5-Year 27% 12% 12%
*Peers include: Anhui Deli, Ball Corporation, Blyth, Inc., Carlisle Companies, Fujan Guanfu MHW, Helen of Troy, Ishizuka
Glass, Jarden, Lancaster Colony, Lifetime Brands, Mastrad, Nadir Figueiredo, Newell Rubbermaid, Ocean Glass, Owens-
Illinois, Sisecam, Srithai Superware, Tupperware, Villeroy & Boch, Vitro, WMF and Zhejiang Supor
Note: Data calculated as of March 31, 2015.
Market Firm Net Sales 2014 Rev. Split '15E Margin FV / EBITDA P / E Net Debt /
Company Cap Value 2014A 2015E N.A. Europe ROW EBITDA EBIT 2015E 2016E 2015E 2016E LTM EBITDA
Newell Rubbermaid Inc. $10,764 $13,784 $5,727 $5,905 74% 12% 14% 17.1% 14.3% 13.6x 12.4x 18.5x 16.9x 3.2x
Jarden Corporation 10,460 14,596 8,285 8,278 61 -- 39 14.2 12.0 12.4 11.4 19.5 17.2 6.8
Tupperware Brands Corporation 3,349 4,162 2,606 2,372 25 28 47 17.7 15.1 9.9 9.2 14.5 13.0 1.9
Helen of Troy Limited 2,513 2,985 1,402 1,483 84 13 4 14.8 11.7 13.6 12.7 15.5 14.6 1.9
Lifetime Brands, Inc. 205 293 586 -- 74 -- 26 -- -- -- -- 12.1 9.8 2.9
EveryWare Global, Inc. 2 302 354 -- 98 -- 2 -- -- -- -- -- -- 15.3
Mean $4,549 $6,020 $3,160 $4,510 69% 17% 22% 16.0% 13.3% 12.4x 11.4x 16.0x 14.3x 5.3x
Median 2,931 3,573 2,004 4,139 74 13 20 16.0 13.1 13.0 11.9 15.5 14.6 3.0
Libbey Inc. $896 $1,363 $852 $868 79% 17% 4% 14.7% 9.8% 10.6x 9.5x 18.4x 15.7x 3.4x
Libbey still trading at a discount to peers,
despite business outperforming
30
Note: Forward metrics based on consensus Wall Street estimates (Factset). Market data as of May 14, 2015.
($ in millions)
Additional Information
NYSE MKT: LBY
Libbey Inc.
300 Madison Avenue
P. O. Box 10060
Toledo, OH 43699-0060
Visit our website: www.libbey.com
IR Contact:
Alpha IR Group
Chris Hodges & Sam Gibbons
312-445-2870
LBY@alpha-ir.com
31

More Related Content

What's hot

Management Presentation - January 2017
Management Presentation - January 2017Management Presentation - January 2017
Management Presentation - January 2017investorslibbey
 
July 2016 Recent Management Presentation
July 2016 Recent Management PresentationJuly 2016 Recent Management Presentation
July 2016 Recent Management Presentationinvestorslibbey
 
Lby june management presentation
Lby june management presentationLby june management presentation
Lby june management presentationinvestorslibbey
 
Lby management presentation march 2017
Lby management presentation march 2017Lby management presentation march 2017
Lby management presentation march 2017investorslibbey
 
Neenah IR Presentation March 2015
Neenah IR Presentation March 2015Neenah IR Presentation March 2015
Neenah IR Presentation March 2015irneenahpaperinc
 
Q2 2017 Earnings Call Presentation
Q2 2017 Earnings Call PresentationQ2 2017 Earnings Call Presentation
Q2 2017 Earnings Call Presentationinvestorslibbey
 
300297-2-print_ready_revised
300297-2-print_ready_revised300297-2-print_ready_revised
300297-2-print_ready_revisedJessica Phillips
 
Lby investor presentation 11.14.18
Lby investor presentation 11.14.18Lby investor presentation 11.14.18
Lby investor presentation 11.14.18investorslibbey
 
September 2018 management presentation final
September 2018   management presentation finalSeptember 2018   management presentation final
September 2018 management presentation finalinvestorslibbey
 
AB InBev Presentation FINAL DRAFT
AB InBev Presentation FINAL DRAFTAB InBev Presentation FINAL DRAFT
AB InBev Presentation FINAL DRAFTSonya Frederick
 
2017 08 summer presentation v6
2017 08 summer presentation  v62017 08 summer presentation  v6
2017 08 summer presentation v6investorslibbey
 
Final to printer3 2018 investor day
Final to printer3   2018 investor dayFinal to printer3   2018 investor day
Final to printer3 2018 investor dayinvestorslibbey
 
Ab InBev Internationalisation Strategy
Ab InBev Internationalisation StrategyAb InBev Internationalisation Strategy
Ab InBev Internationalisation StrategyRaoul Gauthier
 
AB InBev - Strategic Company Analysis
AB InBev - Strategic Company AnalysisAB InBev - Strategic Company Analysis
AB InBev - Strategic Company AnalysisFranziska Becker
 
International Trade Research - BIRKS
International Trade Research - BIRKSInternational Trade Research - BIRKS
International Trade Research - BIRKSJay Barvaliya
 
Anheuser-Busch and Harbin Case Study - Part 1 Industry Analysis
Anheuser-Busch and Harbin Case Study - Part 1 Industry AnalysisAnheuser-Busch and Harbin Case Study - Part 1 Industry Analysis
Anheuser-Busch and Harbin Case Study - Part 1 Industry AnalysisRomain Corraze
 
Joint Venture, Nestle-General Mills
Joint Venture, Nestle-General MillsJoint Venture, Nestle-General Mills
Joint Venture, Nestle-General MillsSoumyajit Sengupta
 
Levi Strauss & Co. Company Analysis and Valuation
Levi Strauss & Co. Company Analysis and ValuationLevi Strauss & Co. Company Analysis and Valuation
Levi Strauss & Co. Company Analysis and ValuationAlexander Lai
 

What's hot (20)

Management Presentation - January 2017
Management Presentation - January 2017Management Presentation - January 2017
Management Presentation - January 2017
 
July 2016 Recent Management Presentation
July 2016 Recent Management PresentationJuly 2016 Recent Management Presentation
July 2016 Recent Management Presentation
 
Lby june management presentation
Lby june management presentationLby june management presentation
Lby june management presentation
 
Lby management presentation march 2017
Lby management presentation march 2017Lby management presentation march 2017
Lby management presentation march 2017
 
Neenah IR Presentation March 2015
Neenah IR Presentation March 2015Neenah IR Presentation March 2015
Neenah IR Presentation March 2015
 
Q2 2017 Earnings Call Presentation
Q2 2017 Earnings Call PresentationQ2 2017 Earnings Call Presentation
Q2 2017 Earnings Call Presentation
 
300297-2-print_ready_revised
300297-2-print_ready_revised300297-2-print_ready_revised
300297-2-print_ready_revised
 
Lby investor presentation 11.14.18
Lby investor presentation 11.14.18Lby investor presentation 11.14.18
Lby investor presentation 11.14.18
 
September 2018 management presentation final
September 2018   management presentation finalSeptember 2018   management presentation final
September 2018 management presentation final
 
AB InBev Presentation FINAL DRAFT
AB InBev Presentation FINAL DRAFTAB InBev Presentation FINAL DRAFT
AB InBev Presentation FINAL DRAFT
 
2017 08 summer presentation v6
2017 08 summer presentation  v62017 08 summer presentation  v6
2017 08 summer presentation v6
 
Final to printer3 2018 investor day
Final to printer3   2018 investor dayFinal to printer3   2018 investor day
Final to printer3 2018 investor day
 
Anheuser busch
Anheuser buschAnheuser busch
Anheuser busch
 
Ab InBev Internationalisation Strategy
Ab InBev Internationalisation StrategyAb InBev Internationalisation Strategy
Ab InBev Internationalisation Strategy
 
AB InBev - Strategic Company Analysis
AB InBev - Strategic Company AnalysisAB InBev - Strategic Company Analysis
AB InBev - Strategic Company Analysis
 
International Trade Research - BIRKS
International Trade Research - BIRKSInternational Trade Research - BIRKS
International Trade Research - BIRKS
 
Anheuser-Busch and Harbin Case Study - Part 1 Industry Analysis
Anheuser-Busch and Harbin Case Study - Part 1 Industry AnalysisAnheuser-Busch and Harbin Case Study - Part 1 Industry Analysis
Anheuser-Busch and Harbin Case Study - Part 1 Industry Analysis
 
Joint Venture, Nestle-General Mills
Joint Venture, Nestle-General MillsJoint Venture, Nestle-General Mills
Joint Venture, Nestle-General Mills
 
AB InBev Pitch
AB InBev PitchAB InBev Pitch
AB InBev Pitch
 
Levi Strauss & Co. Company Analysis and Valuation
Levi Strauss & Co. Company Analysis and ValuationLevi Strauss & Co. Company Analysis and Valuation
Levi Strauss & Co. Company Analysis and Valuation
 

Viewers also liked

Multi kulti_photos
Multi kulti_photosMulti kulti_photos
Multi kulti_photoslamprinic
 
Mapa conceptual modulo 3
Mapa conceptual modulo 3Mapa conceptual modulo 3
Mapa conceptual modulo 3RosaIUTAC
 
Zajc prezentacija
Zajc prezentacijaZajc prezentacija
Zajc prezentacijaFisteon
 
Escriturário Banco do Brasil - Questões de Conhecimentos Bancários
Escriturário Banco do Brasil - Questões de Conhecimentos BancáriosEscriturário Banco do Brasil - Questões de Conhecimentos Bancários
Escriturário Banco do Brasil - Questões de Conhecimentos BancáriosJailma Gomez
 
1 TecnologíA 2 Periodo
1 TecnologíA 2  Periodo1 TecnologíA 2  Periodo
1 TecnologíA 2 Periodoguestcd1a04
 
Mamac - managing the physical environment
Mamac - managing the physical environmentMamac - managing the physical environment
Mamac - managing the physical environmentNhelgane Hablo
 
Staff meeting 8th august 2016
Staff meeting 8th august 2016Staff meeting 8th august 2016
Staff meeting 8th august 2016Sammy Fugler
 

Viewers also liked (12)

Brochure
BrochureBrochure
Brochure
 
Multi kulti_photos
Multi kulti_photosMulti kulti_photos
Multi kulti_photos
 
S2 mod de enf diagn
S2 mod de enf diagnS2 mod de enf diagn
S2 mod de enf diagn
 
Mapa conceptual modulo 3
Mapa conceptual modulo 3Mapa conceptual modulo 3
Mapa conceptual modulo 3
 
titulo master
titulo mastertitulo master
titulo master
 
LAE Job Description
LAE Job DescriptionLAE Job Description
LAE Job Description
 
Zajc prezentacija
Zajc prezentacijaZajc prezentacija
Zajc prezentacija
 
Institucional da TI Consultoria
Institucional da TI ConsultoriaInstitucional da TI Consultoria
Institucional da TI Consultoria
 
Escriturário Banco do Brasil - Questões de Conhecimentos Bancários
Escriturário Banco do Brasil - Questões de Conhecimentos BancáriosEscriturário Banco do Brasil - Questões de Conhecimentos Bancários
Escriturário Banco do Brasil - Questões de Conhecimentos Bancários
 
1 TecnologíA 2 Periodo
1 TecnologíA 2  Periodo1 TecnologíA 2  Periodo
1 TecnologíA 2 Periodo
 
Mamac - managing the physical environment
Mamac - managing the physical environmentMamac - managing the physical environment
Mamac - managing the physical environment
 
Staff meeting 8th august 2016
Staff meeting 8th august 2016Staff meeting 8th august 2016
Staff meeting 8th august 2016
 

Similar to Barclays high-yield-conf-06-11-15

Lby management presentation july 2017
Lby management presentation july 2017Lby management presentation july 2017
Lby management presentation july 2017investorslibbey
 
Recent Management Presentation
Recent Management PresentationRecent Management Presentation
Recent Management Presentationinvestorslibbey
 
Libbey management pres jan 2018
Libbey management pres jan 2018Libbey management pres jan 2018
Libbey management pres jan 2018investorslibbey
 
Rabobank Presents: Today's Beverage Market
Rabobank Presents: Today's Beverage Market Rabobank Presents: Today's Beverage Market
Rabobank Presents: Today's Beverage Market Antea Group
 
Opportunities for growth - Food & Drink sector event - 09.12.10 (all presenta...
Opportunities for growth - Food & Drink sector event - 09.12.10 (all presenta...Opportunities for growth - Food & Drink sector event - 09.12.10 (all presenta...
Opportunities for growth - Food & Drink sector event - 09.12.10 (all presenta...Business Link South West - Events
 
Ab-InBev: Internationalisation Startegy
Ab-InBev: Internationalisation StartegyAb-InBev: Internationalisation Startegy
Ab-InBev: Internationalisation StartegyRaoul Gauthier
 
pepsico presentation
pepsico presentation pepsico presentation
pepsico presentation pravin thorat
 
Clorox Pitch Book Final - Zephyr Group
Clorox Pitch Book Final - Zephyr GroupClorox Pitch Book Final - Zephyr Group
Clorox Pitch Book Final - Zephyr GroupRobert J. Liu
 
Launching Krispy Natural:Cracking the product Management Code
Launching Krispy Natural:Cracking the product Management CodeLaunching Krispy Natural:Cracking the product Management Code
Launching Krispy Natural:Cracking the product Management CodeTarun Kumar
 
Q2 2017 Management Investor Presentation
Q2 2017 Management Investor PresentationQ2 2017 Management Investor Presentation
Q2 2017 Management Investor PresentationRioCan
 
morgan-stanley-global-consumer-and-retail-conference.pdf
morgan-stanley-global-consumer-and-retail-conference.pdfmorgan-stanley-global-consumer-and-retail-conference.pdf
morgan-stanley-global-consumer-and-retail-conference.pdfAmanKaurKahlon
 
BDO Breakout Session: 2014 Texas A&M Retailing Summit
BDO Breakout Session: 2014 Texas A&M Retailing Summit BDO Breakout Session: 2014 Texas A&M Retailing Summit
BDO Breakout Session: 2014 Texas A&M Retailing Summit Gordon Porter
 
Q3 2017 Management Investor Presentation
Q3 2017 Management Investor PresentationQ3 2017 Management Investor Presentation
Q3 2017 Management Investor PresentationRioCan
 
Marketing Presentation on Coca Cola
Marketing Presentation on Coca ColaMarketing Presentation on Coca Cola
Marketing Presentation on Coca ColaShubham Kakkar
 
Resume For Todd Davis Professional
Resume For Todd Davis ProfessionalResume For Todd Davis Professional
Resume For Todd Davis Professionaltoddwdavis
 

Similar to Barclays high-yield-conf-06-11-15 (20)

Lby management presentation july 2017
Lby management presentation july 2017Lby management presentation july 2017
Lby management presentation july 2017
 
Recent Management Presentation
Recent Management PresentationRecent Management Presentation
Recent Management Presentation
 
Libbey management pres jan 2018
Libbey management pres jan 2018Libbey management pres jan 2018
Libbey management pres jan 2018
 
Coca cola 2
Coca cola 2Coca cola 2
Coca cola 2
 
Rabobank Presents: Today's Beverage Market
Rabobank Presents: Today's Beverage Market Rabobank Presents: Today's Beverage Market
Rabobank Presents: Today's Beverage Market
 
Opportunities for growth - Food & Drink sector event - 09.12.10 (all presenta...
Opportunities for growth - Food & Drink sector event - 09.12.10 (all presenta...Opportunities for growth - Food & Drink sector event - 09.12.10 (all presenta...
Opportunities for growth - Food & Drink sector event - 09.12.10 (all presenta...
 
Ab-InBev: Internationalisation Startegy
Ab-InBev: Internationalisation StartegyAb-InBev: Internationalisation Startegy
Ab-InBev: Internationalisation Startegy
 
pepsico presentation
pepsico presentation pepsico presentation
pepsico presentation
 
Clorox Pitch Book Final - Zephyr Group
Clorox Pitch Book Final - Zephyr GroupClorox Pitch Book Final - Zephyr Group
Clorox Pitch Book Final - Zephyr Group
 
Launching Krispy Natural:Cracking the product Management Code
Launching Krispy Natural:Cracking the product Management CodeLaunching Krispy Natural:Cracking the product Management Code
Launching Krispy Natural:Cracking the product Management Code
 
286316_DTree_2014_AR_prf
286316_DTree_2014_AR_prf286316_DTree_2014_AR_prf
286316_DTree_2014_AR_prf
 
Q2 2017 Management Investor Presentation
Q2 2017 Management Investor PresentationQ2 2017 Management Investor Presentation
Q2 2017 Management Investor Presentation
 
morgan-stanley-global-consumer-and-retail-conference.pdf
morgan-stanley-global-consumer-and-retail-conference.pdfmorgan-stanley-global-consumer-and-retail-conference.pdf
morgan-stanley-global-consumer-and-retail-conference.pdf
 
BDO Breakout Session: 2014 Texas A&M Retailing Summit
BDO Breakout Session: 2014 Texas A&M Retailing Summit BDO Breakout Session: 2014 Texas A&M Retailing Summit
BDO Breakout Session: 2014 Texas A&M Retailing Summit
 
DK CV Jul 2015
DK CV Jul 2015DK CV Jul 2015
DK CV Jul 2015
 
Starbucks
StarbucksStarbucks
Starbucks
 
Q3 2017 Management Investor Presentation
Q3 2017 Management Investor PresentationQ3 2017 Management Investor Presentation
Q3 2017 Management Investor Presentation
 
05. due diligence and leveraged buyout of overhill firms (deb sahoo)
05. due diligence and leveraged buyout of overhill firms (deb sahoo)05. due diligence and leveraged buyout of overhill firms (deb sahoo)
05. due diligence and leveraged buyout of overhill firms (deb sahoo)
 
Marketing Presentation on Coca Cola
Marketing Presentation on Coca ColaMarketing Presentation on Coca Cola
Marketing Presentation on Coca Cola
 
Resume For Todd Davis Professional
Resume For Todd Davis ProfessionalResume For Todd Davis Professional
Resume For Todd Davis Professional
 

Recently uploaded

如何办理北卡罗来纳大学教堂山分校毕业证(文凭)UNC学位证书
如何办理北卡罗来纳大学教堂山分校毕业证(文凭)UNC学位证书如何办理北卡罗来纳大学教堂山分校毕业证(文凭)UNC学位证书
如何办理北卡罗来纳大学教堂山分校毕业证(文凭)UNC学位证书Fir La
 
No 1 AMil Baba In Islamabad No 1 Amil Baba In Lahore No 1 Amil Baba In Faisl...
No 1 AMil Baba In Islamabad  No 1 Amil Baba In Lahore No 1 Amil Baba In Faisl...No 1 AMil Baba In Islamabad  No 1 Amil Baba In Lahore No 1 Amil Baba In Faisl...
No 1 AMil Baba In Islamabad No 1 Amil Baba In Lahore No 1 Amil Baba In Faisl...First NO1 World Amil baba in Faisalabad
 
OKC Thunder Reveal Game 2 Playoff T Shirts
OKC Thunder Reveal Game 2 Playoff T ShirtsOKC Thunder Reveal Game 2 Playoff T Shirts
OKC Thunder Reveal Game 2 Playoff T Shirtsrahman018755
 
《加州大学圣克鲁兹分校学位证书复制》Q微信741003700美国学历疑难问题指南|挂科被加州大学圣克鲁兹分校劝退没有毕业证怎么办?《UCSC毕业证购买|加...
《加州大学圣克鲁兹分校学位证书复制》Q微信741003700美国学历疑难问题指南|挂科被加州大学圣克鲁兹分校劝退没有毕业证怎么办?《UCSC毕业证购买|加...《加州大学圣克鲁兹分校学位证书复制》Q微信741003700美国学历疑难问题指南|挂科被加州大学圣克鲁兹分校劝退没有毕业证怎么办?《UCSC毕业证购买|加...
《加州大学圣克鲁兹分校学位证书复制》Q微信741003700美国学历疑难问题指南|挂科被加州大学圣克鲁兹分校劝退没有毕业证怎么办?《UCSC毕业证购买|加...wyqazy
 
WheelTug PLC Pitch Deck | Investor Insights | April 2024
WheelTug PLC Pitch Deck | Investor Insights | April 2024WheelTug PLC Pitch Deck | Investor Insights | April 2024
WheelTug PLC Pitch Deck | Investor Insights | April 2024Hector Del Castillo, CPM, CPMM
 
Short-, Mid-, and Long-term gxxoals.pptx
Short-, Mid-, and Long-term gxxoals.pptxShort-, Mid-, and Long-term gxxoals.pptx
Short-, Mid-, and Long-term gxxoals.pptxHenryBriggs2
 
Osisko Gold Royalties Ltd - Corporate Presentation, April 23, 2024
Osisko Gold Royalties Ltd - Corporate Presentation, April 23, 2024Osisko Gold Royalties Ltd - Corporate Presentation, April 23, 2024
Osisko Gold Royalties Ltd - Corporate Presentation, April 23, 2024Osisko Gold Royalties Ltd
 
如何办理密苏里大学堪萨斯分校毕业证(文凭)UMKC学位证书
如何办理密苏里大学堪萨斯分校毕业证(文凭)UMKC学位证书如何办理密苏里大学堪萨斯分校毕业证(文凭)UMKC学位证书
如何办理密苏里大学堪萨斯分校毕业证(文凭)UMKC学位证书Fir La
 
Cyberagent_For New Investors_EN_240424.pdf
Cyberagent_For New Investors_EN_240424.pdfCyberagent_For New Investors_EN_240424.pdf
Cyberagent_For New Investors_EN_240424.pdfCyberAgent, Inc.
 
Methanex Investor Presentation (April 2024)
Methanex Investor Presentation (April 2024)Methanex Investor Presentation (April 2024)
Methanex Investor Presentation (April 2024)Methanex Corporation
 
Collective Mining | Corporate Presentation - April 2024
Collective Mining | Corporate Presentation - April 2024Collective Mining | Corporate Presentation - April 2024
Collective Mining | Corporate Presentation - April 2024CollectiveMining1
 
Russian Call Girls Kolkata Indira 🤌 8250192130 🚀 Vip Call Girls Kolkata
Russian Call Girls Kolkata Indira 🤌  8250192130 🚀 Vip Call Girls KolkataRussian Call Girls Kolkata Indira 🤌  8250192130 🚀 Vip Call Girls Kolkata
Russian Call Girls Kolkata Indira 🤌 8250192130 🚀 Vip Call Girls Kolkataanamikaraghav4
 
9654467111 Low Rate Call Girls In Tughlakabad, Delhi NCR
9654467111 Low Rate Call Girls In Tughlakabad, Delhi NCR9654467111 Low Rate Call Girls In Tughlakabad, Delhi NCR
9654467111 Low Rate Call Girls In Tughlakabad, Delhi NCRSapana Sha
 
Nicola Mining Inc. Corporate Presentation April 2024
Nicola Mining Inc. Corporate Presentation April 2024Nicola Mining Inc. Corporate Presentation April 2024
Nicola Mining Inc. Corporate Presentation April 2024nicola_mining
 

Recently uploaded (20)

young call girls in Yamuna Vihar 🔝 9953056974 🔝 Delhi escort Service
young  call girls in   Yamuna Vihar 🔝 9953056974 🔝 Delhi escort Serviceyoung  call girls in   Yamuna Vihar 🔝 9953056974 🔝 Delhi escort Service
young call girls in Yamuna Vihar 🔝 9953056974 🔝 Delhi escort Service
 
如何办理北卡罗来纳大学教堂山分校毕业证(文凭)UNC学位证书
如何办理北卡罗来纳大学教堂山分校毕业证(文凭)UNC学位证书如何办理北卡罗来纳大学教堂山分校毕业证(文凭)UNC学位证书
如何办理北卡罗来纳大学教堂山分校毕业证(文凭)UNC学位证书
 
No 1 AMil Baba In Islamabad No 1 Amil Baba In Lahore No 1 Amil Baba In Faisl...
No 1 AMil Baba In Islamabad  No 1 Amil Baba In Lahore No 1 Amil Baba In Faisl...No 1 AMil Baba In Islamabad  No 1 Amil Baba In Lahore No 1 Amil Baba In Faisl...
No 1 AMil Baba In Islamabad No 1 Amil Baba In Lahore No 1 Amil Baba In Faisl...
 
OKC Thunder Reveal Game 2 Playoff T Shirts
OKC Thunder Reveal Game 2 Playoff T ShirtsOKC Thunder Reveal Game 2 Playoff T Shirts
OKC Thunder Reveal Game 2 Playoff T Shirts
 
《加州大学圣克鲁兹分校学位证书复制》Q微信741003700美国学历疑难问题指南|挂科被加州大学圣克鲁兹分校劝退没有毕业证怎么办?《UCSC毕业证购买|加...
《加州大学圣克鲁兹分校学位证书复制》Q微信741003700美国学历疑难问题指南|挂科被加州大学圣克鲁兹分校劝退没有毕业证怎么办?《UCSC毕业证购买|加...《加州大学圣克鲁兹分校学位证书复制》Q微信741003700美国学历疑难问题指南|挂科被加州大学圣克鲁兹分校劝退没有毕业证怎么办?《UCSC毕业证购买|加...
《加州大学圣克鲁兹分校学位证书复制》Q微信741003700美国学历疑难问题指南|挂科被加州大学圣克鲁兹分校劝退没有毕业证怎么办?《UCSC毕业证购买|加...
 
WheelTug PLC Pitch Deck | Investor Insights | April 2024
WheelTug PLC Pitch Deck | Investor Insights | April 2024WheelTug PLC Pitch Deck | Investor Insights | April 2024
WheelTug PLC Pitch Deck | Investor Insights | April 2024
 
Short-, Mid-, and Long-term gxxoals.pptx
Short-, Mid-, and Long-term gxxoals.pptxShort-, Mid-, and Long-term gxxoals.pptx
Short-, Mid-, and Long-term gxxoals.pptx
 
Osisko Gold Royalties Ltd - Corporate Presentation, April 23, 2024
Osisko Gold Royalties Ltd - Corporate Presentation, April 23, 2024Osisko Gold Royalties Ltd - Corporate Presentation, April 23, 2024
Osisko Gold Royalties Ltd - Corporate Presentation, April 23, 2024
 
young call girls in Hauz Khas,🔝 9953056974 🔝 escort Service
young call girls in Hauz Khas,🔝 9953056974 🔝 escort Serviceyoung call girls in Hauz Khas,🔝 9953056974 🔝 escort Service
young call girls in Hauz Khas,🔝 9953056974 🔝 escort Service
 
Model Call Girl in Uttam Nagar Delhi reach out to us at 🔝9953056974🔝
Model Call Girl in Uttam Nagar Delhi reach out to us at 🔝9953056974🔝Model Call Girl in Uttam Nagar Delhi reach out to us at 🔝9953056974🔝
Model Call Girl in Uttam Nagar Delhi reach out to us at 🔝9953056974🔝
 
Preet Vihar (Delhi) 9953330565 Escorts, Call Girls Services
Preet Vihar (Delhi) 9953330565 Escorts, Call Girls ServicesPreet Vihar (Delhi) 9953330565 Escorts, Call Girls Services
Preet Vihar (Delhi) 9953330565 Escorts, Call Girls Services
 
如何办理密苏里大学堪萨斯分校毕业证(文凭)UMKC学位证书
如何办理密苏里大学堪萨斯分校毕业证(文凭)UMKC学位证书如何办理密苏里大学堪萨斯分校毕业证(文凭)UMKC学位证书
如何办理密苏里大学堪萨斯分校毕业证(文凭)UMKC学位证书
 
Cyberagent_For New Investors_EN_240424.pdf
Cyberagent_For New Investors_EN_240424.pdfCyberagent_For New Investors_EN_240424.pdf
Cyberagent_For New Investors_EN_240424.pdf
 
Escort Service Call Girls In Shalimar Bagh, 99530°56974 Delhi NCR
Escort Service Call Girls In Shalimar Bagh, 99530°56974 Delhi NCREscort Service Call Girls In Shalimar Bagh, 99530°56974 Delhi NCR
Escort Service Call Girls In Shalimar Bagh, 99530°56974 Delhi NCR
 
Methanex Investor Presentation (April 2024)
Methanex Investor Presentation (April 2024)Methanex Investor Presentation (April 2024)
Methanex Investor Presentation (April 2024)
 
Collective Mining | Corporate Presentation - April 2024
Collective Mining | Corporate Presentation - April 2024Collective Mining | Corporate Presentation - April 2024
Collective Mining | Corporate Presentation - April 2024
 
Russian Call Girls Kolkata Indira 🤌 8250192130 🚀 Vip Call Girls Kolkata
Russian Call Girls Kolkata Indira 🤌  8250192130 🚀 Vip Call Girls KolkataRussian Call Girls Kolkata Indira 🤌  8250192130 🚀 Vip Call Girls Kolkata
Russian Call Girls Kolkata Indira 🤌 8250192130 🚀 Vip Call Girls Kolkata
 
9654467111 Low Rate Call Girls In Tughlakabad, Delhi NCR
9654467111 Low Rate Call Girls In Tughlakabad, Delhi NCR9654467111 Low Rate Call Girls In Tughlakabad, Delhi NCR
9654467111 Low Rate Call Girls In Tughlakabad, Delhi NCR
 
Falcon Invoice Discounting - Best Platform
Falcon Invoice Discounting - Best PlatformFalcon Invoice Discounting - Best Platform
Falcon Invoice Discounting - Best Platform
 
Nicola Mining Inc. Corporate Presentation April 2024
Nicola Mining Inc. Corporate Presentation April 2024Nicola Mining Inc. Corporate Presentation April 2024
Nicola Mining Inc. Corporate Presentation April 2024
 

Barclays high-yield-conf-06-11-15

  • 1. Barclays High Yield and Syndicated Loan Conference June 11, 2015
  • 3. Material presented at this meeting includes forward-looking statements about Libbey Inc. These statements are subject to risks and uncertainties, including market conditions, competitive pressures, the value of the U.S. dollar and significant cost increases. Please refer to the Company’s Form 10-K for fiscal year-end December 31, 2014, filed on March 13, 2015, for further information. Cautionary statement 2
  • 4. Libbey today: fact sheet Employs approximately 6,500 associates across the globe Libbey sells more than 1,000,000,000 glasses annually Second largest glass tableware manufacturer in the world! # 1 in the Americas In 2014, Libbey’s net sales totaled $852.5 million. Sells into 3 channels: FS, Retail and B2B 3 Our customers represent the world’s largest foodservice distributors and the world’s most recognized retail brands
  • 5. Today Libbey competes in four categories of products 4 Category Products Manufacturing Glass Tableware • Tumblers, stemware, mugs, bowls, floral, salt shakers, shot glasses, canisters, candleholders In-house Other Glass Products • Bakeware, handmade tableware, blender jars, mixing bowls, floral, candle, and washing machine windows In-house Ceramic Dinnerware • Plates, bowls, platters, cups, saucers, and other tableware accessories Sourced Metalware • Knives, forks, spoons, serving utensils, serving trays, pitchers, other metal tableware accessories Sourced ~90% of sales ~10% of sales
  • 6. Libbey has a broad customer base spanning three key channels • A network of over 500 of the world’s finest distributors who ultimately sell to hotels, restaurants, bars, etc. • #1 supplier of glass tableware, #2 supplier of dinnerware/flatware in the U.S. and Canada • Offered entire tabletop since 1997 • 90% of sales are replacements, driving predictable revenue stream • Beverages are the most profitable sales item for a restaurant • Customers include marketers who brand Libbey glassware with company logos and resell to breweries, distilleries, soft drink companies, craft industries and food packing companies • Products include candle and floral applications, blender jars, mixing bowls, and washing machine glass • Profitable channel. Volume provides factory utilization Foodservice Retail Business-to-Business (B2B) • Primary customers include leading mass merchants as well as specialty, grocery, value-oriented and e-tail stores • The leading supplier of casual glass beverageware in North America • Strong brand recognition • Important driver of factory utilization 5 No single customer accounts for 10% or more of sales
  • 7. Industry-leading and customer logistics-friendly footprint 6 West Chicago, IL Toledo, OH Shreveport, LA Monterrey, Mexico Laredo, TX Libbey Manufacturing & Warehousing / Distribution Marinha Grande, Portugal Leerdam, Netherlands Langfang, China Libbey Warehousing / Distribution Million Total Sq. Ft. Libbey Warehousing / Distribution Centers7 8Libbey Manufacturing Facilities6
  • 8. Libbey is a company with a rich history … 7 Aug 2011: Stephanie Streeter becomes CEO Jun 2006: Obtains remaining 51% stake in Crisa, expanding presence to Monterrey, Mexico Jan 2005: Acquires Crisal, a glassware manufacturer based in Portugal 1800s 1990 Jul 2013: Celebrates 125th Anniversary in Toledo 2002 2006 20112008 20122000 Dec 2002: Acquires Royal Leerdam, expanding glassware operations to Europe May 2012: Refinancing amended $100MM ABL facility and issuance of $450MM 6.875% Senior Secured Notes April 2007: Opens Langfang, China facility Aug 1997: Acquires World Tableware and 49% of Crisa 2014 April 2014: Refinancing, including amended $100MM ABL Facility and new $440MM Term Loan B senior secured credit facility 1818: Libbey founded as New England Glass Company in East Cambridge, MA s Jun 1993: Libbey becomes a public company 1892: The company changes its name to The Libbey Glass Company Oct 1995: Acquires Syracuse China Aug 2011: Bill Foley becomes Chairman of the Board 2015 Jan 2015: Announce Own the Moment strategy. Re-initiate dividend and share repurchases
  • 9. …Libbey is entering a new phase of its development 8 Recovery and reinforcement • Focus on cost reduction and de-leveraging • Took substantial cost containment measures • Reduced leverage to ~3x 2014 adjusted EBITDA • Continued strengthening and building business (by reinvesting 2/3 of cash flow) • Mexican production best-in-class for US market • Entered China for long- term opportunities Ambitious growth coupled with great recession led to crisis • Acquisition-focused growth (on average +10% annually from 2001 to 2008) • Substantial increases in leverage (up to unsustainably high levels of 7x adjusted EBITDA) Winning from position of strength Libbey clearly positioned as market leader with strong profitability and cash flows Focus on creating strong and sustainable value for our shareholders • Three strategic levers • Organic expansion of business • Selective acquisitions to expand geographic footprint and product categories • Return cash to shareholders via dividends and share repurchases 2001 - 2009 2009 - 2014 2015 - 2020
  • 10. Libbey is in a fundamentally more stable position than at any time in the last decade 9 LBY 2007 LBY 2011 LBY 2014 Market cap ($MM) 231 259 686 Adjusted EBITDA margin (%) 14.3% 13.8% 14.5% 3 yr avg cash flow yield (%) ~0 6% 4% Leverage (Net debt/Adj. EBITDA) 4.0 3.0 3.1 Credit rating B B+ BB- US pension funding (47) (95) (11) Annual interest expense ($MM) 66 43 23 ROIC (%) 8.5% 11.0% 12.2% (1) Cash flow is defined as cash flow from operations less capital expenditures plus payment of interest on PIK notes in 2010 and adjusted for the supplemental pension contribution in 2012
  • 11. Committed to aligning our business and financial levers to drive strong, sustainable Total Shareholder Return 10 1 2 3 Objective: Deliver sustained top- quartile TSR for Libbey’s shareholders Leverage positions of strength to drive above market growth and expand margins Make strategic and opportunistic investments to bolster core positions Commit to disciplined capital management and significant capital return to investors Business Strategy Financial Strategy
  • 12. 1111 Grow & Bolster Americas • Grow around core in Foodservice • Win in key accounts in Retail & B2B • Strengthen/broaden offerings • Expand to adjacencies • Redefine pricing/promotions Maximize Returns in Asia Pacific & EMEA • Targeted investments to drive value and differentiation • Drive cost efficiency • Expand presence where under-served • Build presence in growth channels Establish Foundation of Excellence • Supply Chain • Talent & culture • Commercial capabilities • Information Technology • Financial structure/capital deployment 11
  • 13. Strategy expected to drive organic revenue growth over $1B and adjusted EBITDA margins of 17%- 18% by 2018 12 • Segment and geographic expansion • Adjacency categories • New products and innovation • Pricing and promotion structures 16.4% 17 - 18% 2013 2018 • Volume leverage • Productivity • Supply chain efficiencies Adjusted EBITDA Margin (%) $819 $1B+ 2013 2018 Net Sales ($MM) (E) (E)
  • 14. Long-term financial goals established 13 Financial Metric Goal 2018 E Revenue growth 4% to 6% $1B + Adjusted EBITDA margins 15% to 18% 17% to 18% Net debt to adjusted EBITDA 2.5 to 3.0 X 2.5 to 3.0 X ROIC Maintain 11% to 13% 12% to 14% TSR Top quartile Top quartile
  • 15. 1. Leading market position and strong brand portfolio 2. #1 U.S. Foodservice business drives significant recurring revenue and profitability; #1 North American retail position drives consumer recognition, utilization and incremental profitability 3. Established global presence with significant growth potential 4. Cost structure optimization combined with manufacturing innovation provide additional barriers to entry 5. Enviable balance sheet: Strong cash flow, liquidity and credit profile 6. Balanced approach to capital allocation Investment highlights 14
  • 16. #1 producer of casual glass beverageware in the Western Hemisphere 10% global market share(1) Market leadership in U.S. and Mexico ~58% share of U.S. foodservice glass beverageware market (1) ~55% share of Mexican glass tableware market (1) #1 casual glass beverageware position in the U.S. retail channel (2) Leading position as producer of casual glass beverageware in the EU Strong shelf position with major retailers: Recognized for excellence by leading foodservice distributors: Leading market position and strong brand portfolio (1) (2) Management estimate NPD Group Retail Tracking Service 1 15
  • 17. Strong brand portfolio1 16 → Extensive product line ranging from tumblers to fine stemware → Leading producer of glass tableware in Mexico and Latin America → Provides an expanded presence in Europe from tumblers to stemware → Among the world leaders in producing and selling glass stemware → “Class of glass”; high performance for every occasion → Fine Bavarian crystal; crystal glassware specialist → Broad selection of unique dinnerware, flatware, hollowware → Broad range of dinnerware with distinctive designs and durable qualities → One of the world’s leading providers of high-end porcelain for foodservice → One of world’s foremost marketers of fine tableware, including flatware, stemware and dinnerware 90% of 2014 Sales 10% of 2014 Sales Manufactured Sourced
  • 18. #1 US & Canada Foodservice • 90% of Foodservice glass sales are replacements and drive a predictable revenue stream • Strong distribution network and in-house salesforce are a competitive advantage • Depth and breadth of product line maximizes addressable market and highlights innovation capabilities • High switching costs, as food service establishments rarely change after initial investment • Steady pace of innovation and critical profitability of beverageware creates lower price sensitivity; 41 of 45 years with a price increase • Sourced dinnerware and flatware provides additional growth opportunity at very attractive ROIC #1 in Western Hemisphere and #1 in North America2 17
  • 19. Additions of Schönwald and Reed & Barton combine with Spiegelau and Nachtmann to create the Artistry Collection™ 18 2 “A complete premium tabletop offering”
  • 20. Introducing Infinium: the premium experience in plastic drinkware 19 2 “Mimics the clarity of glass and is virtually unbreakable”
  • 21. #1 North America Retail Position • #1 Retail brand by wide margin in US, Canada and Mexico • Ability to provide products across multiple price points leverages foodservice and B2B costs and capabilities • Important driver of factory utilization • Enhances trend/product life and innovation platform • Important for brand recognition and brand loyalty 2 20 #1 in Western Hemisphere and #1 in North America
  • 22. Introducing: Modern Bar™ 21 2 “Graces the entertainment experience with simplicity and style”
  • 24. Established global presence with significant growth potential3 Americas 69% Other 4%US Sourcing 10% EMEA 17% 2014 Sales by Segment 2014 Adj. EBITDA by Segment Americas 79% EMEA 10% US Sourcing 5% Other 6% 23 Grow and bolster Americas Grow around core foodservice business Expand in additional categories and market segments in retail and B2B Strengthen and broaden product offerings Maximize returns in Asia Pacific and EMEA Complements Americas’ leadership position EMEA: reconfigure the business through targeted investments Asia Pacific: selective growth with managed investment Expand footprint in underserved and emerging market segments
  • 25. Executed multiple cost reduction initiatives as part of Libbey 2015 Workforce optimization Productivity improvements Realignment of capacity Own the Moment continues focus on operating efficiencies Reduce manufacturing complexity End-to-end supply chain management Optimize manufacturing output through improved sales and operations planning Innovation and world class manufacturing technologies create competitive advantage R&D innovation/disruptive technology - Shreveport investment Over 150 new glassware shapes and over 350 new flatware/tableware items in 2014 alone Leading proprietary furnace, manufacturing and mold technologies Cost optimization combined with manufacturing innovation provides additional barriers to entry4 24
  • 26. Position of strength and business model drive predictable revenue stream and cash flow Note: (A) Operating cash flow adjusted for the supplemental pension contribution in 2012, call premiums on senior notes, and debt issuance costs. 25 Net Sales ($ MM) Historical Cumulative Adj Operating Cash flow 2008 – 2014(A) ($ MM) 810 749 800 817 825 819 852 2008 2009 2010 2011 2012 2013 2014 (1) 105 176 233 358 432 558 2008 2009 2010 2011 2012 2013 2014 5
  • 27. 6.4 4.3 3.3 3.0 3.0 2.7 3.1 2008 2009 2010 2011 2012 2013 2014 1.2 1.4 2.5 2.6 3.5 4.2 5.4 2008 2009 2010 2011 2012 2013 2014 Significant deleveraging despite investments to strengthen the business Fully funded supplemental U.S. pension in 2012 lowered annual cash contributions ~$15MM Capex investments similar to D&A on average; now able to invest in growth technology for future success Meaningful liquidity $79.6MM available under ABL at 3/31/15 $18.6MM cash on balance sheet at 3/31/15 Significant reduction in interest rates since 2011 Annual interest expense reduced ~ 50% ($20MM) Capital structure Senior secured credit facility $440MM; maturity 2021 LIBOR plus 300 bps (currently 3.75%) No financial covenants $150MM accordion option $100MM ABL credit facility LIBOR plus 150-200 bps; maturity 2019 Capital structure and liquidity remains strong5 26 Adj. EBITDA / Interest Expense Net Debt / Adj. EBITDA
  • 28. Cash on hand + ABL Cash from operations Balanced approach to capital allocation6 27 Invest in the business Maintain financial strength and flexibility Return capital to investors • Support/accelerate organic growth • New technologies & manufacturing capabilities • Acquisitions aligned with strategy • Other strategic initiatives • Re-initiated quarterly dividend o $0.11 per share, highest in company history o 1.5% yield on day of initiation • Share repurchases through 10b5-1 o Authorization increased to 1.5M shares in January 2015 o Repurchased over 294K shares as of March 31, 2015 o Expect to return 50% of free cash flow to shareholders over next three years Available Cash 2015-2018 $500-$600(MM) • Strong & flexible balance sheet • Long-term net debt to Adjusted EBITDA target of 2.5x – 3.0x, with ability to flex up or down
  • 29. $181.6 $187.4 $- $50 $100 $150 $200 Millions Net Sales 1st Qtr 2014 1st Qtr 2015 Revenue growth of over 8% on a constant currency basis in Q1 2015 28 3.2% Growth 8.4% on Constant Currency $20.0 $19.7 $- $5 $10 $15 $20 $25 Millions Adjusted EBITDA 1st Qtr 2014 1st Qtr 2015 11.0% 10.5% 0% 2% 4% 6% 8% 10% 12% Adjusted EBITDA Margin 1st Qtr 2014 1st Qtr 2015 Full Year Outlook: • Net sales growth on a constant currency basis of 5.0% to 6.0% • EBITDA margin to be approximately 15.0%
  • 30. Libbey: creating shareholder value now and in the future 29 • Leading market positions and strong brand portfolio • Superior production footprint and execution capabilities • Strategies in place to drive sustainable growth • Enviable balance sheet: strong cash flow, liquidity and credit profile • Balanced capital allocation: flexibility to invest in the business and return capital to shareholders Libbey TSR: achieving top quartile performance Libbey S&P 1500 Peer* 1-Year 54% 10% 18% 3-Year 46% 14% 15% 5-Year 27% 12% 12% *Peers include: Anhui Deli, Ball Corporation, Blyth, Inc., Carlisle Companies, Fujan Guanfu MHW, Helen of Troy, Ishizuka Glass, Jarden, Lancaster Colony, Lifetime Brands, Mastrad, Nadir Figueiredo, Newell Rubbermaid, Ocean Glass, Owens- Illinois, Sisecam, Srithai Superware, Tupperware, Villeroy & Boch, Vitro, WMF and Zhejiang Supor Note: Data calculated as of March 31, 2015.
  • 31. Market Firm Net Sales 2014 Rev. Split '15E Margin FV / EBITDA P / E Net Debt / Company Cap Value 2014A 2015E N.A. Europe ROW EBITDA EBIT 2015E 2016E 2015E 2016E LTM EBITDA Newell Rubbermaid Inc. $10,764 $13,784 $5,727 $5,905 74% 12% 14% 17.1% 14.3% 13.6x 12.4x 18.5x 16.9x 3.2x Jarden Corporation 10,460 14,596 8,285 8,278 61 -- 39 14.2 12.0 12.4 11.4 19.5 17.2 6.8 Tupperware Brands Corporation 3,349 4,162 2,606 2,372 25 28 47 17.7 15.1 9.9 9.2 14.5 13.0 1.9 Helen of Troy Limited 2,513 2,985 1,402 1,483 84 13 4 14.8 11.7 13.6 12.7 15.5 14.6 1.9 Lifetime Brands, Inc. 205 293 586 -- 74 -- 26 -- -- -- -- 12.1 9.8 2.9 EveryWare Global, Inc. 2 302 354 -- 98 -- 2 -- -- -- -- -- -- 15.3 Mean $4,549 $6,020 $3,160 $4,510 69% 17% 22% 16.0% 13.3% 12.4x 11.4x 16.0x 14.3x 5.3x Median 2,931 3,573 2,004 4,139 74 13 20 16.0 13.1 13.0 11.9 15.5 14.6 3.0 Libbey Inc. $896 $1,363 $852 $868 79% 17% 4% 14.7% 9.8% 10.6x 9.5x 18.4x 15.7x 3.4x Libbey still trading at a discount to peers, despite business outperforming 30 Note: Forward metrics based on consensus Wall Street estimates (Factset). Market data as of May 14, 2015. ($ in millions)
  • 32. Additional Information NYSE MKT: LBY Libbey Inc. 300 Madison Avenue P. O. Box 10060 Toledo, OH 43699-0060 Visit our website: www.libbey.com IR Contact: Alpha IR Group Chris Hodges & Sam Gibbons 312-445-2870 LBY@alpha-ir.com 31