Lby 2017 q4 earnings call v16 (to q4)

1. Libbey Inc.
Q4 2017 Earnings C all
Febr uar y 27, 2018

2. Management on Today’s Call
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Jim Burmeister
Vice President, Chief Financial Officer
Bill Foley
Chairman and Chief Executive Officer
Joe Huhn
Vice President, Financial Planning & Analysis
and Investor Relations

3. Cautionary Statement
Material presented on today’s call 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 potential significant cost increases. Please refer to the Company’s Form 10-K for fiscal year-end
December 31, 2016, filed on March 3, 2017 for further information.
This presentation includes financial information of which the Company’s independent auditors have not
completed their review. Although the Company believes that the assumptions upon which the financial
information and its forward looking statements are based are reasonable, it can give no assurances that these
assumptions will prove to be accurate.
This presentation and today’s prepared remarks contain non-GAAP financial measures. We believe that the
Adjusted Earnings Before Interest Taxes Depreciation and Amortization, or Adjusted EBITDA; Adjusted EBITDA
margin; Trade Working Capital; Debt, net of cash to Adjusted EBITDA; and references to sales in constant
currency are meaningful measures for investors to compare our results from period to period.
Reconciliations of the non-GAAP to GAAP measures may be found within the earnings press release and the
supplemental financials.
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4. Q4 2017 Highlights
 Q4 sales increased $18.1MM or 8.8%
 New products drove approximately $9MM of net sales growth
 Profitability improved for second consecutive quarter in Latin America and
EMEA
 Manufacturing operations continued to improve relative to first-half 2017
 U.S. & Canada foodservice continued to outperform the market in Q4, with
sales growth of 6.4% compared to a 1.9% decline in U.S. foodservice
traffic(1)
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(1) – Source: Black Box

5. Q4 2017 Highlights Continued
 U.S. & Canada e-commerce sales are 9% of the US & Canada retail net
sales for full-year 2017, 23% growth over 2016…helping to offset the
full- year decline of 7% in the market(1)
 $6.7MM income tax provision for net deferred tax assets revaluation
related to U.S. tax reform
 $5.0MM optional debt repayment in Q4, $24.4MM total Term Loan B
repayments in 2017
 ABL Credit Facility was amended and extended
5
(1) – Source: NPD Consumer Panel data (Glass Beverageware Category)

6. E-commerce platform is having a positive
influence on our entire retail business
 Over 300 products launched on our new platform in 2017; expect that to increase 30% in first half of
2018
 Omni-channel approach provides our customers enhanced services that influence consumers in-store
and on-line
 Accelerates time to market and enables instant feedback on products and pricing
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Libbey Signature® product line Multifunctional with designs driven by consumer research –
Urban Story® collection

7. 2017 New Product Highlights
 Over 27% growth in our Masters
Reserve® and Libbey Signature®
product line for full-year 2017; we
now have 89 products in the line
 Urban Story®, Bakeware, Prologue™,
and VIVA® Scandinavia all shipped in
Q4 last year
 Successful new dinnerware product
rollout at major restaurant chain
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Masters Reserve® and Libbey Signature® product line sold in
Foodservice and Retail channels
Premium bakeware line introduced in 2017

8. Key Financial Data
Q 4 ‘ 1 7 & ‘ 1 6 a n d Fu l l - y e a r ‘ 1 7 & ‘ 1 6
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(1) See the Appendix for definitions of non-GAAP measure
(2)See our fourth quarter 2017 press release filed on form 8-K on February 27, 2018, for reconciliations of Adjusted EBITDA, Adjusted EBITDA margin, Trade
Working Capital and Debt, net of cash to Adjusted EBITDA ratio to the most directly comparable U.S. GAAP measure.
Unaudited
$ in millions, except per share data '17 '16 VPY '17 '16 VPY
Net sales 224.0$ 205.8$ 18.2$ 781.8$ 793.4$ (11.6)$
Gross profit 42.7$ 34.0$ 8.7$ 151.0$ 166.3$ (15.3)$
Gross profit margin 19.1% 16.5% 2.6% 19.3% 21.0% (1.7%)
Selling, general & administrative expenses 29.2$ 27.6$ 1.6$ 124.9$ 121.0$ 3.9$
Goodwill impairment -$ -$ -$ 79.7$ -$ 79.7$
Net income (loss) (7.2)$ (2.2)$ (5.0)$ (93.4)$ 10.1$ (103.5)$
Net income (loss) margin (3.2%) (1.1%) (2.1%) (11.9%) 1.3% (13.2%)
Diluted EPS (0.32)$ (0.10)$ (0.22)$ (4.24)$ 0.46$ (4.70)$
Adjusted EBITDA
(1)(2)
(non-GAAP) 24.2$ 23.5$ 0.7$ 70.6$ 111.6$ (41.0)$
Adjusted EBITDA margin (1)(2)
(non-GAAP) 10.8% 11.4% (0.6%) 9.0% 14.1% (5.1%)
Unaudited
$ in millions, except ratio
December
31, 2017
December
31, 2016 VPY
Trade Working Capital (1)(2)
(non-GAAP) 199.5$ 183.5$ 16.0$
Debt, net of cash to Adjusted EBITDA ratio
(1)(2)
(non-GAAP) 5.1 x 3.1 x 2.0 x
Fourth Quarter Full Year

9. Q4 ‘17 Net Sales of $224.0 vs. $205.8 in Q4 ‘16
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$ in millions
U.S. & Canada
OtherEMEA
Latin America
$8.0
$7.1
($0.9)
$0
$2
$4
$6
$8
$10
Q4 '16 Net Sales Sales Decline Q4 '17 Net Sales
$33.5
$36.8
$0.3 $1.5
$1.5
$20
$25
$30
$35
$40
$45
Q4 '16 Net
Sales
Retail Foodservice B2B Q4 '17 Net
Sales
$36.4
$41.8
$1.5 ($0.3)
$4.2
$35
$37
$39
$41
$43
$45
Q4 '16 Net
Sales
Retail Foodservice B2B Q4 '17 Net
Sales
$127.9
$138.3
$2.8
$4.5
$3.1
$120
$125
$130
$135
$140
$145
$150
Q4 '16 Net
Sales
Retail Foodservice B2B Q4 '17 Net
Sales

10. Full-year 2017 Net Sales of $781.8 vs. $793.4 in 2016
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$ in millions
U.S. & Canada
OtherEMEA
Latin America
$33.1
$28.8
($4.3)
$20
$25
$30
$35
$40
FY '16 Net Sales Sales Decline FY '17 Net Sales
$126.6 $126.9($3.1)
$1.0
$2.4
$120
$122
$124
$126
$128
FY '16 Net
Sales
Retail Foodservice B2B FY '17 Net
Sales
$151.4
$144.3
($5.8)
( $0.2) ( $1.1)
$140
$142
$144
$146
$148
$150
$152
$154
FY '16 Net
Sales
Retail Foodservice B2B FY '17 Net
Sales
$482.3 $481.8($3.5)
($1.6)
$4.6
$470
$475
$480
$485
$490
FY '16 Net
Sales
Retail Foodservice B2B FY '17 Net
Sales

11. Adjusted EBITDA(1) Walks
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$ in millions
(1) - See our fourth quarter 2017 press release filed on form 8-K on February 27, 2018, for a reconciliation of Adjusted EBITDA to net income (loss).
$ in millions
$111.6
$70.6
$2.1
$1.1
($13.9)
($17.5)
($12.8)
40.0
50.0
60.0
70.0
80.0
90.0
100.0
110.0
120.0
Prior Year Impact of Sales/FCM Currency Manufacturing Activity Benefits Other Adjusted EBITDA
FY'17 Adjusted EBITDA vs. Prior Year $MM
E-commerce
$10.7MM
$23.5 $24.2
$3.3
$2.0 ($1.4) ($1.1) ($2.1)
0.0
5.0
10.0
15.0
20.0
25.0
30.0
35.0
Prior Year Impact of Sales/FCM Currency Manufacturing Activity Benefits Other Adjusted EBITDA
Q4'17 Adjusted EBITDA vs. Prior Year $MM
E-commerce
$2.1MM

12. Outlook for First-half and Full-year 2018
 First-half Adjusted EBITDA(1) margins of 8.5-9.5%
– First-half net sales expected to increase low single digits
– First-half downtime due to furnace rebuilds similar to prior year
 Full-year Adjusted EBITDA(1) margins of 10%-11%
– Full-year net sales expected to increase low single digits
– Full-year downtime due to furnace rebuilds similar to prior year
– Capital expenditures approximately $50-$55 million
– SG&A around 17% of net sales – to fund initial ERP investment,
partially offset by a lower level of digital investment
12(1) - See our fourth quarter 2017 press release filed on form 8-K on February 27, 2018, for a reconciliation of Adjusted EBITDA to net income (loss).

13. Q&A
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14. Appendix of Non-GAAP Definitions
 Adjusted EBITDA and Adjusted EBITDA Margin
• U.S. GAAP net income (loss) plus interest expense, provision for income taxes, depreciation and amortization, and
special items that Libbey believes are not reflective of our core operating performance.
 Trade Working Capital
• Net accounts receivable plus net inventories less accounts payable.
 Debt, Net of Cash to Adjusted EBITDA Ratio
• Gross debt before unamortized discount and finance fees, less cash and cash equivalents, divided by Adjusted EBITDA
(defined above).
 Constant Currency
• Constant currency references regarding net sales reflect a simple mathematical translation of local currency results
using the comparable prior period’s currency conversion rate.
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15. Additional Information
NYSE MKT: LBY
Alpha IR Group
Chris Hodges & Sam Gibbons
312-445-2870
email: LBY@alpha-ir.com
visit our website: www.libbey.com