Fourth Quarter and Full
Year Results
Gary	E.	Robinette
Chairman	&	Chief	Executive	Officer
Shawn	K.	Poe
Chief	Financial	Officer
PlyGem.com2
• Fourth Quarter Review Gary Robinette
• Financial Results by Segment Shawn Poe
• Acquisition Synergies and Cost Savings Shawn Poe
• Margin and Growth Initiatives Gary Robinette
• Economic Outlook Gary Robinette
• Questions and Answers Gary Robinette & Shawn Poe
• Closing Remarks Gary Robinette
Agenda
PlyGem.com3
These slides and the accompanying oral discussion may contain “forward-looking statements” within the meaning of the Private Securities
Litigation Reform Act of 1995. Such statements involve known and unknown risks, uncertainties and other factors that could cause the
actual results of Ply Gem Holdings, Inc. (the “Company”) to differ materially from the results expressed or implied, including: downturns or
negative trends in the home repair and remodeling or the new construction end markets, or the U.S. and Canadian economies or the
availability of consumer credit; competition from other building products manufacturers and alternative building materials; inability to
successfully develop new products or improve existing products; changes in the costs and availability of raw materials; consolidation and
further growth of our customers; loss of, or a reduction in orders from, any of our significant customers; inclement weather conditions;
increases in union organizing activity and work stoppages at our facilities or the facilities of our suppliers; our ability to employ, train and
retain qualified personnel at a competitive cost; claims arising from the operations of our various businesses prior to our acquisitions;
product liability claims, including class action claims and warranties, relating to the products we manufacture; litigation outside of product
liability claims; loss of certain key personnel; interruptions in deliveries of raw materials or finished goods; changes in building codes and
standards could increase the cost of our products, lower the demand for our products, or otherwise adversely affect our business;
environmental costs and liabilities; manufacturing or assembly realignments; threats to, or impairments of, our intellectual property rights;
increases in transportation, freight and fuel costs; changes in foreign currency exchange and interest rates; material non-cash impairment
charges; our significant amount of indebtedness; covenants in the ABL Facility, the credit agreement governing our Senior Secured Term
Loan Facility and the indenture governing the 6.50% Senior Notes; limitations on our net operating losses and payments under the tax
receivable agreement to our stockholders; failure to successfully consummate and integrate acquisitions; actual or perceived security
vulnerabilities or cyberattacks on our networks; failure to effectively manage labor inefficiencies associated with increased production and
new employees added to the Company; failure to generate sufficient cash to service all of our indebtedness and make capital
expenditures; control by the CI Partnerships; and the risks set forth in the Company’s filings with the Securities and Exchange
Commission. Consequently such forward-looking statements should be regarded as the Company’s current plans, estimates and beliefs.
Except as required by law, the Company does not undertake and specifically declines any obligation to publicly release the results of any
revisions to these forward-looking statements that may be made to reflect any future events or circumstances after the date of such
statements or to reflect the occurrence of anticipatedor unanticipated events.
In addition, these slides and the accompanying oral discussion reference financial information determined by methods other than in
accordance with accounting principles generally accepted in the United States of America (“GAAP”), such as adjusted EBITDA. The
Company’s management uses these non-GAAP measures in its analysis of the Company’s performance. The Company believes that the
presentation of certain non-GAAP measures provides useful supplemental information that is essential to a proper understanding of the
operating results of the Company’s core business. These non-GAAP measures should not be viewed as a substitute for operating results
determined in accordance with GAAP, nor are they necessarily comparable to non-GAAP performance measures that may be presented
by other companies. A reconciliation of each non-GAAP financial measure to the most directly comparable GAAP financial measure is
provided in the appendix to the slides andis included in our press release issued onMarch 10, 2017andposted on www.plygem.com.
Legal Disclaimer
PlyGem.com4
Ply Gem Overview
• Leading Manufacturer of Exterior Building Products
• Comprehensive Product Portfolio with Strong Brand Recognition
• Multi-Channel Distribution Network Servicing a Broad Customer Base
• Balanced End Market Exposure Driven by Diversified Product Mix
• Highly Efficient, Low Cost Operating Platform
• Proven Track Record of Acquisition Integration & Cost Savings
Realization
• Strong Management Team with Significant Ownership
Platform Built for Growth and Operating Leverage
Repair and
Remodel
Leverage to New
Housing Starts
New Products and
Innovation Drive
Share Gains
M&A Opportunities
US
90%
Canada
10%
Siding
46%Windows
54%
PlyGem.com5
Fourth Quarter 2016 Highlights
($ in Millions) Q4 2016 Q4 2015
Net Sales
Y-O-Y Change
$462.3
7.4%
$430.5
Gross Profit
Gross Profit %
$103.5
22.4%
$99.9
23.2%
Operating Earnings
Y-O-Y Change
$28.7
(0.7%)
$28.9
Adj. EBITDA
As % of Net Sales
$44.9
9.7%
$43.2
10.0%
End Market Exposure
New
Construction
52%
Home
Repair &
Remodel
48%
Key Highlights
• Sales increased $31.8M during the quarter. Our U.S.
businesses experienced anorganic growthrate of 8.2% which
was primarily driven by increased demand for our products
within our Siding, Fencing and Stone segment and our new
construction windows and doors. For the total Company,
favorable price and productmix provided a sales increase of
$4.0M within our segments and 1 additional shippingday in the
quarter compared to 2015due to thetiming of the Company’s
fiscal calendar favorably impacted sales by $5.5M. These
favorable sales drivers were partially offset by weaker market
conditions in Canada, primarily in Western Canada, which
negatively impacted sales, partially offset by favorable foreign
currency exchange rates which impactedsales by $0.6M.
• Gross margin contracted 80 basis points primarily driven by
lower average selling prices and unfavorable commodity costs
relative to Q4 2015, primarily PVC resin and aluminum, in our
Siding, Fencing & Stone segment, partially offsetby higher
average selling prices in our Windows and Doors segment and
realized synergies from acquisitions.
• Eleventh consecutive year-over-year quarterly adjusted
EBITDA improvement. Incremental year-over-year quarterly
adjusted EBITDA growth of 3.8%.
Note: Certain amounts in this presentation have been subject to rounding adjustments. Accordingly, amounts shown as total may not be the arithmetic aggregation of the individual amounts that comprise or precede them.
PlyGem.com6
Fourth Quarter 2016 Highlights
Fourth Quarter Net Sales Performance Bridge ($ in Millions)
$462.3	
3.1	
$430.5	
25.4	
5.5	
4.0	
$400.0	
$415.0	
$430.0	
$445.0	
$460.0	
$475.0	
Q4	2015	Net	Sales U.S.	Volume Impact	of	
Shipping	Days
Price/Mix CAD	Volume	
&	F/X
Q4	2016	Net	Sales
Net	Sales
Fourth Quarter Adjusted EBITDA Performance Bridge ($ in Millions)
$44.9	
5.1	
2.9	
2.6	$43.2	
7.2	
4.0	
1.1	
$20.0	
$30.0	
$40.0	
$50.0	
$60.0	
Q4	2015	Adj	
EBITDA
U.S.	Volume Price/Mix Impact	of	Shipping	
Days
Conversion	/	Fixed	
Costs
SG&A	/	Other CAD	Volume
&	F/X
Q4	2016	Adj	
EBITDA
Adj.	EBITDA
PlyGem.com7
2016 Full Year Highlights
($ in Millions) 2016 2015
Net Sales
Y-O-Y Change
$1,911.8
3.9%
$1,839.7
Gross Profit
Gross Profit %
$462.3
24.2%
$419.7
22.8%
Operating Earnings
Y-O-Y Change
$168.5
37.5%
$122.5
Adj. EBITDA
As % of Net Sales
$229.0
12.0%
$184.6
10.0%
End Market Exposure
New
Construction
54%
Home
Repair &
Remodel
46%
Key Highlights
• Sales increase of $72.1M was primarily due to organic growth
in our U.S. businesses. U.S. organic growth of $96.9M was
mainly driven by an increase in lag effected U.S. single-family
housing starts in 2016 including$11.7M in incremental sales
from our Canyon Stone acquisition. Thesefavorable sales
drivers were partially offset by lower sales in Canada of
$24.7M due to the declining macro-economic conditions in
Western Canada and therelated foreign currency exchange
rates of $6.9M. The sales increase was also attributed to a net
favorable price and productmix of $3.1M primarily related to
selling price increases in our Windows and Doors segment
partially offset by unfavorablepricing of metal accessory
products within our Siding, Fencing andStone segment.
• Gross margin expansion of 140basis points primarily driven by
increased average selling prices in our Windows and Doors
segment, favorable material costs and realized synergies from
acquisitions, partially offset by lower averageselling prices in
our Siding, Fencing and Stone segment, decreasedoperating
leverage in Western Canada andan unfavorable foreign
currency impact.
• Adjusted EBITDA increase of $44.4M resulting from the
execution of margin improvement initiatives, higher sales of
3.9%, improved operatingperformance initiatives and
maintaining our cost discipline.
• Record annual adjusted EBITDA of $229.0M.
PlyGem.com8
2016 Full Year Highlights
2016 Full Year Net Sales Performance Bridge ($ in Millions)
$1,911.8	
31.1	
$1,839.7	
88.4	
11.7	 3.1	
$1,800.0	
$1,850.0	
$1,900.0	
$1,950.0	
2015	
Net	Sales
U.S.	Volume Acquisitions Price/Mix CAD	Volume
&	F/X
2016	
Net	Sales
Net	Sales
2016 Full Year Adjusted EBITDA Performance Bridge ($ in Millions)
$229.0	13.9	
6.8	
5.1	
$184.6	
42.3	
23.8	 3.1	 1.0	
$150.0	
$175.0	
$200.0	
$225.0	
$250.0	
$275.0	
2015	Adj.	
EBITDA
Material	
Costs
U.S.	
Volume
Price/Mix Acquisitions CAD	Volume
&	F/X
SG&A	/	
Other
Conversion	/	
Fixed	Costs
2016	Adj.	
EBITDA
Adj.	EBITDA
PlyGem.com9
($ in Millions) 2011 2012 2013 2014 2015 2016
Senior Notes $950.0 $1,000.0 $852.0 $650.0 $650.0 $650.0
Term Loan Facility - - - 426.8 422.5 258.2
ABL 55.0 15.0 - - - -
Total Debt $1,005.0 $1,015.0 $852.0 $1,076.8 $1,072.5 $908.2
Cash 11.7 27.2 69.8 33.2 109.4 52.0
Net Debt $993.3 $987.8 $782.2 $1,043.6 $963.1 $856.2
Adj. EBITDA $112.2 $126.8 $117.5 $124.2 $184.6 $229.0
Interest Coverage 1.2 1.3 1.4 1.9 3.1 3.9
Leverage Ratio 8.9 7.8 6.7 8.4 5.2 3.7
Historical Leverage Ratio
8.9	
7.8	
6.7	
8.4	
5.2	
3.7	
-
2.0	
4.0	
6.0	
8.0	
10.0	
2011 2012 2013 2014 2015 2016
Leverage	Ratio
1.5	Turn	
Improvement
Significant	De-
Leveraging
PlyGem.com10
Window & Doors (W&D) Segment – Fourth Quarter
Fourth	Quarter	Results	($	in	Millions)
$229.2	 $215.6	
$26.0	
$24.8	
Q4	2016 Q4	2015
Net	Sales
U.S. Canada
$240.4
$255.2
Q4	2016 Q4	2015
U.S. 18.5% 18.5%
Canada 24.3% 18.6%
W&D	Segment 19.1% 18.5%
Gross	Margin	%
Key	Highlights
• Sales	were	favorable	by	$14.7M	or	6.1%	primarily	 driven	by	$6.9M	
of	price	and	product	 mix,	$6.9M	of	increased	 volume	within	 our	U.S.	
businesses,	and	a	favorable	$3.3M	related	to	1	additional	shipping	
day	in	the	quarter	 compared	 to	2015	due	to	timing	of	the	
Company’s	fiscal	calendar,	partially	 offset	by	weaker	market	
conditions	 in	Western	Canada.	
• Gross	margin	expansion by	60	basis	points	 primarily	driven	by	
improved	pricing	 and	product	 mix	for	our	U.S.	and	Canadian	
businesses	and	realized	 synergies	from	the	Simonton	acquisition,	
partially	offset	by	increased	labor	 and	conversion costs,	and	
unfavorable	foreign	currency.	
• SG&A	expense	as	a	percent	 of	sales	increased	from	14.6%	to	14.8%	
or	a	increase	of	$2.7M.		The	increase	is	primarily	due	to	
approximately	 $2.5M	of	legal	and	settlement	costs.		Adjusting	for	
the	legal	and	settlement	costs,	 SG&A	expense	as	a	percent	of	sales	
would	have	decreased	to	13.8%.
End	Market	Exposure	(*)
New	
constructio
n
63%
Home	
repair	&	
remodel
37%
(*)	For	the	three	months	ended	December	31,	2016
PlyGem.com11
W&D Segment Gross Margin – Fourth Quarter
18.5%
19.1%1.…
0.9%
2.7%
15.0%
17.0%
19.0%
21.0%
23.0%
25.0%
Q4	2015	
Gross	Margin
Selling	Price	/	
Product	Mix
Labor,	Conversion
&	Freight	Costs
Unfavorable	FX	/	Other Q4	2016	
Gross	Margin
Quarterly	Gross	Margin	Performance
• Selling	price/product	mix	
reflect	favorable	product	mix	
and	impact	of	selling	price	
increases	implemented	in	2016	
for	the	U.S.	and	Canada.
• Short-term	unfavorable	labor,	
conversion	and	freight costs	
primarily	due	to	transition	
from	captive	delivery	trucks	to	
dedicated	third	party	logistics	
partner	and	related	
inefficiencies.
PlyGem.com12
W&D Segment – Full Year
2016	Full	Year	Results	($	in	Millions)
$930.1	 $885.3	
$94.9	 $114.3	
2016 2015
Net	Sales
U.S. Canada
$999.6$1,025.0
Gross	Margin	%
2016 2015
U.S. 19.7% 18.1%
Canada 20.4% 18.3%
W&D	Segment 19.8% 18.1%
Key	Highlights
• Sales	increase	of	$25.4M	or	2.5%,	primarily	due	to	the	organic	growth	of	our	
U.S.	businesses	and	favorable	price	and	product	mix	within	the	segment.		
Overall	U.S.	new	construction	and	repair	&	remodel	product	growth,	including	
price	and	product	mix,	increased	sales	by	$44.8M.		This	sales	growth	was	
partially	offset	by	weaker	market	conditions	in	Western	Canada	and	the	related	
foreign	currency	exchange	rates	which	combined	reduced	sales	by	$19.4M.
• Gross	margin	improved	by	170	basis	points	primarily	driven	by	improved	pricing	
and	product	mix	in	both	our	U.S.	and	Canadian	businesses,	realized	synergies	
from	the	Simonton	acquisition,	and	improved	operating	leverage	at	our	U.S.	
businesses	based	on	higher	volumes,	partially	offset	by	unfavorable	foreign	
currency	and	decreased	operating	leverage	in	Western	Canada.	
• SG&A	expense	as	a	percent	of	sales	decreased	from	15.1%	to	14.3%	or	a	
decrease	of	$3.9M.		The	decrease	is	primarily	due	to	leveraging	the	fixed	
component	of	SG&A	expense,	lower	personnel	costs	and	severance	costs	
associated	with	the	integration	of	various	general	and	administrative	functions	
within	Simonton	and	lower	Western	Canadian	restructuring	and	integration	
costs	due	to	the	consolidation	of	manufacturing	locations	in	2014/2015,	
partially	offset	by	increased	legal	and	settlement	costs	of	approximately	$2.8M	
in	2016.				
End	Market	Exposure
New	
constructio
n
68%
Home	
repair	&	
remodel
32%
PlyGem.com13
W&D Segment Gross Margin – Full Year
18.1%
19.8%1.4%
1.1%
3.…
0.…
10.0%
12.0%
14.0%
16.0%
18.0%
20.0%
22.0%
24.0%
2015	
Gross	Margin
Selling	Price	/	
Product	Mix
Commodity	Costs Labor,	Conversion	&	
Freight	Costs
Unfavorable	FX	/	
Other
2016	
Gross	Margin
2016	Gross	Margin	Performance
• Selling	price/product	 mix	reflect	
favorable	product	 mix	and	impact	
of	selling	price	increases	
implemented	in	2016	for	the	U.S.	
and	Canada.
• Commodity	cost	favorability	due	
mainly	to	aluminum	costs	and	
synergies	realized	through	the	
Simonton	acquisition,	 partially	
offset	by	rising	PVC	resin	costs.
• Unfavorable	labor, conversion	&
freight	costs.
20.9%	
15.4%	 14.0%	 15.4%	 13.1%	 13.8%	
9.7%	 12.9%	
18.1%	 19.8%	
1,046
622
445 471 431
535
618 648
715
782
2007 2008 2009 2010 2011 2012 2013 2014 2015 2016
Historical	Gross	Margin	Performance
Annual	Gross	Profit	 % U.S.	SFHS	- in	thousands	(*)
Note:		Includes	Simonton	from	date	of	acquisition
PlyGem.com14
Siding, Fencing & Stone (SFS) Segment – Fourth Quarter
Fourth	Quarter	Results	($	in	Millions)
$184.1	
$166.4	
$23.0	
$23.6	
Q4	2016 Q4	2015
Net	Sales
U.S. Canada
$190.0
$207.1
Gross	Margin	%
Q4	2016 Q4	2015
U.S. 26.3% 29.7%
Canada 27.4% 25.4%
SFS	Segment 26.4% 29.2%
(*)	For	the	three	months	ended	December	31,	2016
Key	Highlights
• Sales	increase	of	$17.1M	or	9.0%	primarily	driven	by	organic	unit	
growth	of	12.6%	in	the	U.S.	business.	The	quarterly	segment	
sales	growth	was	partially	offset	by	lower	average	selling	prices	
of	$5.0M	due	to	lower	raw	material	costs,	weaker	market	
conditions	in	Canada	which	impacted	demand	for	vinyl	siding	
products	and	accessories.
• Gross	margin	contracted by	280	basis	points,	primarily	driven	by	
lower	average	selling	prices,	decreased	operating	leverage	in	
Canada	and	unfavorable	foreign	currency,	partially	offset	by	
favorable	operating	leverage	in	the	U.S.	business.	
• SG&A	expense	decreased	$2.1M	due	to	leveraging	the	fixed	
component	of	SG&A	expense.		SG&A	expense	as	a	percent	of	
sales	decreased	from	12.4%	to	10.4%.
End	Market	Exposure	(*)
New	
construction
38%
Home	repair	
&	remodel
62%
PlyGem.com15
SFS Segment Gross Margin – Fourth Quarter
29.2%
26.…
1.4%
0.7%
0.7%
24.0%
28.0%
32.0%
Q4	2015	
Gross	Margin
Selling	Price	/	
Product	Mix
Commodity	Costs	&	
Mfg.	Leverage
Unfavorable	FX	/	Other Q4	2016	
Gross	Margin
Quarterly	Gross	Margin	Performance • Unfavorable	 commodity	costs
due	mainly	from	PVC	resin	and	
aluminum, partially	offset	by	
favorable manufacturing	
leverage	due	to	a	12.6%	increase	
in	units	sold.
• Selling	price/product	 mix	reflects	
a	higher	proportion	 of	metal	
products	 sold	during	 the	quarter	
compared	 to	the	prior	 year	
which	carry	a	lower	gross	
margin.
PlyGem.com16
SFS Segment – Full Year
2016	Full	Year	Results	($	in	Millions)
$783.2	 $731.1	
$103.7	
$109.0	
2016 2015
Net	Sales
U.S. Canada
$840.1$886.9
Gross	Margin	%
2016 2015
U.S. 29.6% 28.2%
Canada 27.0% 29.6%
SFS	Segment 29.3% 28.4%
Key	Highlights
• Sales	increase	of	$46.7M	or	5.6%	primarily	driven	by	organic	unit	
growth	of	10.6%	in	the	U.S.	business	and	the	incremental	sales	from	
our	Canyon	Stone	acquisition	which	accounted	for	$11.7M	of	sales	
growth.	The	sales	growth	was	partially	offset	by	lower	average	selling	
prices	due	to	lower	raw	material	costs	and	weaker	market	conditions	
in	Canada	which	impacted	demand	for	vinyl	siding	products	and	
accessories	and	unfavorable	foreign	currency	exchange	rates.
• Gross	margin	expanded	by	90	basis	points,	 primarily	driven	by	
favorable	leverage	on	additional	 sales	volume,	lower	commodity	
costs	and	freight	expense,	partially	offset	by	lower	average	selling	
prices,	decreased	operating	leverage	in	Canada	and	unfavorable	
foreign	currency.	
• SG&A	expense	decreased	$1.1M	due	to	initiatives	which	lowered	
sales	and	marketing	expenses	by	$3.6M,	partially	offset	by	$2.6M	
associated	with	the	Canyon	Stone	acquisition.		SG&A	expense	as	a	
percent	of	sales	decreased	from	10.8%	to	10.1%.
End	Market	Exposure
New	
construction
37%
Home	repair	
&	remodel
63%
PlyGem.com17
SFS Segment Gross Margin – Full Year
28.4%
29.3%
3.… 0.3%
4.6
%
20.0%
25.0%
30.0%
35.0%
2015	
Gross	Margin
Commodity	Costs	/	
Mfg.	Leverage
Selling	Price	/	
Product	Mix
Unfavorable	FX	/	Other 2016	
Gross	Margin
2016	Gross	Margin	Performance • Commodity	cost	favorability	due	
mainly	from	aluminum	and	PVC	resin	
costs.
• Improved	manufacturing	leverage	
due	to	increase	is	units	sold	during	
2016.
• Selling	price/product	mix	reflects	a	
higher	proportion	of	metal	products	
sold	during	2016	compared	to	the	
prior	year	which	carry	a	lower	gross	
margin.
20.4%	 18.4%	 25.9%	 25.7%	 24.8%	 27.4%	 26.8%	 26.1%	 28.4%	 29.3%	
.5208
.6200
.5288
.6458
.6971 .6975 .7134 .7534
.7250
.7617
2007 2008 2009 2010 2011 2012 2013 2014 2015 2016
Historical	Gross	Margin	Performance
Annual	Gross	Profit	 % PVC	Resin	 Price/lbs	(*)
PlyGem.com18
Acquisition Synergies and Cost Savings
$23.5	
$9.0	
$14.5	
$-
$5.0	
$10.0	
$15.0	
$20.0	
$25.0	
2015	Realized	Acq.	Synergies 2016	Acq.	Synergies	Realized Cumulative	Acq.	
Synergies	Realized
• Simonton	–$22.5M	of	synergies	and	
cost	savings	from	Simonton	
acquisition	identified	through	raw	
material	sourcing,	manufacturing	
efficiencies,	insourcing	products	and	
SG&A
• Canyon	Stone	–$1M	of	synergies	
and	cost	savings	from	Canyon	Stone	
acquisition	identified	through	
manufacturing	efficiencies	and	raw	
material	sourcing
• During	2016,	acquisition	synergies	of	
$14.5M	have	been	realized,	bringing	
the	total	acquisition	synergies	
related	to	the	Simonton	and	Canyon	
Stone	acquisitions	to	$23.5M.
PlyGem.com19
Margin Enhancements & Growth Initiatives
Selling	Price	Increases
ü W&D	Q1	2017	price	increases	were	announced	in	October	2016.		Selling	price	increases	range	
from	6%	to	8%
ü SFS	December	2016	price	increases	have	been	announced	in	November	2016	for	the	U.S.	
siding	products	due	to	rising	material	costs.		Selling	price	increases	range	from	6%	to	8%
Growth	Initiatives
ü Cross	Selling	Opportunities	 – Continue	to	integrate	our	extensive	product	categories	across	
our	legacy	customer	base	and	acquired	Simonton	customer	base
ü Expand	market	penetration	of	Ply	Gem’s	adjacent	products	such	as	PVC	trim,	engineered	
roofing	and	engineered	stone
ü Continued	new	product	innovation	through	the	Ply	Gem	Insight	Center	and	Foundation	Labs
PlyGem.com20
Economic Outlook & Guidance
Expect	Continued	Steady	Growth	in	U.S.	Housing	Starts
ü Expect	overall	moderate	growth	of	5%	to	10%	in	U.S.	housing	recovery	in	2017
ü Expect	an	overall	moderate	growth	rate	for	big	ticket	R&R	spend	of	approximately	3%	
to	5%	in	2017
ü Overall	Canadian	housing	starts	expected	to	be	relatively	flat	compared	to	2016
2017	EBITDA	Guidance
ü Based	on	the	forecasted	growth	of	the	U.S.	housing	market	and	R&R	spend,	the	impact	
of	our	enacted	selling	price	increases	and	other	margin	enhancing	initiatives,	we	expect	
our	adjusted	EBITDA	2017	to	be	in	the	range	of	$250M	to	$265M
PlyGem.com21
Appendix
Non-GAAP Adjusted EBITDA Reconciliation
PlyGem.com22
Fourth Quarter Adjusted EBITDA Reconciliation
(amounts in thousands)
For the three
months ended
December 31,2016
For the three
months ended
December 31,2015
Net income $6,663 $9,064
Interest expense, net 17,670 18,234
Provision (benefit) for income taxes (3,398) 1,074
Depreciation and amortization 13,937 14,092
EBITDA $34,872 $42,464
Non cash loss in foreign currency transactions 429 1,065
Acquisition costs - 9
Customer inventory buybacks 410 266
Restructuring/integrationexpense (80) (57)
Litigation – class action charges, net 1,875 -
Tax receivable agreement liability adjustment 268 (520)
Loss on modification or extinguishment of debt 7,097 -
Adjusted EBITDA $44,871 $43,227
PlyGem.com23
Full Year Adjusted EBITDA Reconciliation
(amounts in thousands)
For the year ended
December 31,2016
For the year ended
December 31,2015
Net income $75,487 $32,288
Interest expense, net 72,682 74,819
Benefit for income taxes (51,995) (688)
Depreciation and amortization 56,403 58,400
EBITDA $152,577 $164,819
Non cash loss (gain) in foreign currency transactions (299) 3,166
Acquisition costs - 656
Customer inventory buybacks 1,811 957
Restructuring/integrationexpense 433 3,221
Non cash charge of purchase price allocated to inventories - 54
Litigation – class action charges, net 1,875 (1,194)
Tax receivable agreement liability adjustment 60,874 12,947
Loss on modification or extinguishment of debt 11,747 -
Adjusted EBITDA $229,018 $184,626
PlyGem.com24
Fourth Quarter EBITDA Adjustments By Segment (*)
(amounts in thousands)
For the three months ended
December 31,2016
For the three months ended
December 31,2015
SFS
Segment
W&D
Segment
Total
SFS
Segment
W&D
Segment
Total
Non cash loss on foreign current
transactions
$57 $372 $429 $162 $903 $1,065
Acquisition costs - - - 9 - 9
Customer inventory buybacks 410 - 410 194 72 266
Restructuring/integrationexpense - (80) (80) (4) (53) (57)
Litigation – class action charges, net - 1,875 1,875 - - -
$467 $2,167 $2,634 $361 $922 $1,283
(*)	Does	not	reflect	unallocated	and	corporate	EBITDA	adjustments
PlyGem.com25
Full Year EBITDA Adjustments By Segment (*)
(amounts in thousands)
For the year ended December 31,
2016
For the year ended December 31,
2015
SFS
Segment
W&D
Segment
Total
SFS
Segment
W&D
Segment
Total
Non cash loss (gain) on foreign current
transactions
($204) ($95) ($299) $954 $2,212 $3,166
Acquisition costs - - - 397 259 656
Customer inventory buybacks 1,824 (13) 1,811 447 510 957
Restructuring/integrationexpense 190 243 433 482 2,739 3,221
Non cash charge of purchase price
allocated to inventories
- - - 54 - 54
Litigation – class action charges, net - 1,875 1,875 - (1,194) (1,194)
$1,810 $2,010 $3,820 $2,334 $4,526 $6,860
(*)	Does	not	reflect	unallocated	and	corporate	EBITDA	adjustments

Pgem q4 2016 earnings slides final

  • 1.
    Fourth Quarter andFull Year Results Gary E. Robinette Chairman & Chief Executive Officer Shawn K. Poe Chief Financial Officer
  • 2.
    PlyGem.com2 • Fourth QuarterReview Gary Robinette • Financial Results by Segment Shawn Poe • Acquisition Synergies and Cost Savings Shawn Poe • Margin and Growth Initiatives Gary Robinette • Economic Outlook Gary Robinette • Questions and Answers Gary Robinette & Shawn Poe • Closing Remarks Gary Robinette Agenda
  • 3.
    PlyGem.com3 These slides andthe accompanying oral discussion may contain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements involve known and unknown risks, uncertainties and other factors that could cause the actual results of Ply Gem Holdings, Inc. (the “Company”) to differ materially from the results expressed or implied, including: downturns or negative trends in the home repair and remodeling or the new construction end markets, or the U.S. and Canadian economies or the availability of consumer credit; competition from other building products manufacturers and alternative building materials; inability to successfully develop new products or improve existing products; changes in the costs and availability of raw materials; consolidation and further growth of our customers; loss of, or a reduction in orders from, any of our significant customers; inclement weather conditions; increases in union organizing activity and work stoppages at our facilities or the facilities of our suppliers; our ability to employ, train and retain qualified personnel at a competitive cost; claims arising from the operations of our various businesses prior to our acquisitions; product liability claims, including class action claims and warranties, relating to the products we manufacture; litigation outside of product liability claims; loss of certain key personnel; interruptions in deliveries of raw materials or finished goods; changes in building codes and standards could increase the cost of our products, lower the demand for our products, or otherwise adversely affect our business; environmental costs and liabilities; manufacturing or assembly realignments; threats to, or impairments of, our intellectual property rights; increases in transportation, freight and fuel costs; changes in foreign currency exchange and interest rates; material non-cash impairment charges; our significant amount of indebtedness; covenants in the ABL Facility, the credit agreement governing our Senior Secured Term Loan Facility and the indenture governing the 6.50% Senior Notes; limitations on our net operating losses and payments under the tax receivable agreement to our stockholders; failure to successfully consummate and integrate acquisitions; actual or perceived security vulnerabilities or cyberattacks on our networks; failure to effectively manage labor inefficiencies associated with increased production and new employees added to the Company; failure to generate sufficient cash to service all of our indebtedness and make capital expenditures; control by the CI Partnerships; and the risks set forth in the Company’s filings with the Securities and Exchange Commission. Consequently such forward-looking statements should be regarded as the Company’s current plans, estimates and beliefs. Except as required by law, the Company does not undertake and specifically declines any obligation to publicly release the results of any revisions to these forward-looking statements that may be made to reflect any future events or circumstances after the date of such statements or to reflect the occurrence of anticipatedor unanticipated events. In addition, these slides and the accompanying oral discussion reference financial information determined by methods other than in accordance with accounting principles generally accepted in the United States of America (“GAAP”), such as adjusted EBITDA. The Company’s management uses these non-GAAP measures in its analysis of the Company’s performance. The Company believes that the presentation of certain non-GAAP measures provides useful supplemental information that is essential to a proper understanding of the operating results of the Company’s core business. These non-GAAP measures should not be viewed as a substitute for operating results determined in accordance with GAAP, nor are they necessarily comparable to non-GAAP performance measures that may be presented by other companies. A reconciliation of each non-GAAP financial measure to the most directly comparable GAAP financial measure is provided in the appendix to the slides andis included in our press release issued onMarch 10, 2017andposted on www.plygem.com. Legal Disclaimer
  • 4.
    PlyGem.com4 Ply Gem Overview •Leading Manufacturer of Exterior Building Products • Comprehensive Product Portfolio with Strong Brand Recognition • Multi-Channel Distribution Network Servicing a Broad Customer Base • Balanced End Market Exposure Driven by Diversified Product Mix • Highly Efficient, Low Cost Operating Platform • Proven Track Record of Acquisition Integration & Cost Savings Realization • Strong Management Team with Significant Ownership Platform Built for Growth and Operating Leverage Repair and Remodel Leverage to New Housing Starts New Products and Innovation Drive Share Gains M&A Opportunities US 90% Canada 10% Siding 46%Windows 54%
  • 5.
    PlyGem.com5 Fourth Quarter 2016Highlights ($ in Millions) Q4 2016 Q4 2015 Net Sales Y-O-Y Change $462.3 7.4% $430.5 Gross Profit Gross Profit % $103.5 22.4% $99.9 23.2% Operating Earnings Y-O-Y Change $28.7 (0.7%) $28.9 Adj. EBITDA As % of Net Sales $44.9 9.7% $43.2 10.0% End Market Exposure New Construction 52% Home Repair & Remodel 48% Key Highlights • Sales increased $31.8M during the quarter. Our U.S. businesses experienced anorganic growthrate of 8.2% which was primarily driven by increased demand for our products within our Siding, Fencing and Stone segment and our new construction windows and doors. For the total Company, favorable price and productmix provided a sales increase of $4.0M within our segments and 1 additional shippingday in the quarter compared to 2015due to thetiming of the Company’s fiscal calendar favorably impacted sales by $5.5M. These favorable sales drivers were partially offset by weaker market conditions in Canada, primarily in Western Canada, which negatively impacted sales, partially offset by favorable foreign currency exchange rates which impactedsales by $0.6M. • Gross margin contracted 80 basis points primarily driven by lower average selling prices and unfavorable commodity costs relative to Q4 2015, primarily PVC resin and aluminum, in our Siding, Fencing & Stone segment, partially offsetby higher average selling prices in our Windows and Doors segment and realized synergies from acquisitions. • Eleventh consecutive year-over-year quarterly adjusted EBITDA improvement. Incremental year-over-year quarterly adjusted EBITDA growth of 3.8%. Note: Certain amounts in this presentation have been subject to rounding adjustments. Accordingly, amounts shown as total may not be the arithmetic aggregation of the individual amounts that comprise or precede them.
  • 6.
    PlyGem.com6 Fourth Quarter 2016Highlights Fourth Quarter Net Sales Performance Bridge ($ in Millions) $462.3 3.1 $430.5 25.4 5.5 4.0 $400.0 $415.0 $430.0 $445.0 $460.0 $475.0 Q4 2015 Net Sales U.S. Volume Impact of Shipping Days Price/Mix CAD Volume & F/X Q4 2016 Net Sales Net Sales Fourth Quarter Adjusted EBITDA Performance Bridge ($ in Millions) $44.9 5.1 2.9 2.6 $43.2 7.2 4.0 1.1 $20.0 $30.0 $40.0 $50.0 $60.0 Q4 2015 Adj EBITDA U.S. Volume Price/Mix Impact of Shipping Days Conversion / Fixed Costs SG&A / Other CAD Volume & F/X Q4 2016 Adj EBITDA Adj. EBITDA
  • 7.
    PlyGem.com7 2016 Full YearHighlights ($ in Millions) 2016 2015 Net Sales Y-O-Y Change $1,911.8 3.9% $1,839.7 Gross Profit Gross Profit % $462.3 24.2% $419.7 22.8% Operating Earnings Y-O-Y Change $168.5 37.5% $122.5 Adj. EBITDA As % of Net Sales $229.0 12.0% $184.6 10.0% End Market Exposure New Construction 54% Home Repair & Remodel 46% Key Highlights • Sales increase of $72.1M was primarily due to organic growth in our U.S. businesses. U.S. organic growth of $96.9M was mainly driven by an increase in lag effected U.S. single-family housing starts in 2016 including$11.7M in incremental sales from our Canyon Stone acquisition. Thesefavorable sales drivers were partially offset by lower sales in Canada of $24.7M due to the declining macro-economic conditions in Western Canada and therelated foreign currency exchange rates of $6.9M. The sales increase was also attributed to a net favorable price and productmix of $3.1M primarily related to selling price increases in our Windows and Doors segment partially offset by unfavorablepricing of metal accessory products within our Siding, Fencing andStone segment. • Gross margin expansion of 140basis points primarily driven by increased average selling prices in our Windows and Doors segment, favorable material costs and realized synergies from acquisitions, partially offset by lower averageselling prices in our Siding, Fencing and Stone segment, decreasedoperating leverage in Western Canada andan unfavorable foreign currency impact. • Adjusted EBITDA increase of $44.4M resulting from the execution of margin improvement initiatives, higher sales of 3.9%, improved operatingperformance initiatives and maintaining our cost discipline. • Record annual adjusted EBITDA of $229.0M.
  • 8.
    PlyGem.com8 2016 Full YearHighlights 2016 Full Year Net Sales Performance Bridge ($ in Millions) $1,911.8 31.1 $1,839.7 88.4 11.7 3.1 $1,800.0 $1,850.0 $1,900.0 $1,950.0 2015 Net Sales U.S. Volume Acquisitions Price/Mix CAD Volume & F/X 2016 Net Sales Net Sales 2016 Full Year Adjusted EBITDA Performance Bridge ($ in Millions) $229.0 13.9 6.8 5.1 $184.6 42.3 23.8 3.1 1.0 $150.0 $175.0 $200.0 $225.0 $250.0 $275.0 2015 Adj. EBITDA Material Costs U.S. Volume Price/Mix Acquisitions CAD Volume & F/X SG&A / Other Conversion / Fixed Costs 2016 Adj. EBITDA Adj. EBITDA
  • 9.
    PlyGem.com9 ($ in Millions)2011 2012 2013 2014 2015 2016 Senior Notes $950.0 $1,000.0 $852.0 $650.0 $650.0 $650.0 Term Loan Facility - - - 426.8 422.5 258.2 ABL 55.0 15.0 - - - - Total Debt $1,005.0 $1,015.0 $852.0 $1,076.8 $1,072.5 $908.2 Cash 11.7 27.2 69.8 33.2 109.4 52.0 Net Debt $993.3 $987.8 $782.2 $1,043.6 $963.1 $856.2 Adj. EBITDA $112.2 $126.8 $117.5 $124.2 $184.6 $229.0 Interest Coverage 1.2 1.3 1.4 1.9 3.1 3.9 Leverage Ratio 8.9 7.8 6.7 8.4 5.2 3.7 Historical Leverage Ratio 8.9 7.8 6.7 8.4 5.2 3.7 - 2.0 4.0 6.0 8.0 10.0 2011 2012 2013 2014 2015 2016 Leverage Ratio 1.5 Turn Improvement Significant De- Leveraging
  • 10.
    PlyGem.com10 Window & Doors(W&D) Segment – Fourth Quarter Fourth Quarter Results ($ in Millions) $229.2 $215.6 $26.0 $24.8 Q4 2016 Q4 2015 Net Sales U.S. Canada $240.4 $255.2 Q4 2016 Q4 2015 U.S. 18.5% 18.5% Canada 24.3% 18.6% W&D Segment 19.1% 18.5% Gross Margin % Key Highlights • Sales were favorable by $14.7M or 6.1% primarily driven by $6.9M of price and product mix, $6.9M of increased volume within our U.S. businesses, and a favorable $3.3M related to 1 additional shipping day in the quarter compared to 2015 due to timing of the Company’s fiscal calendar, partially offset by weaker market conditions in Western Canada. • Gross margin expansion by 60 basis points primarily driven by improved pricing and product mix for our U.S. and Canadian businesses and realized synergies from the Simonton acquisition, partially offset by increased labor and conversion costs, and unfavorable foreign currency. • SG&A expense as a percent of sales increased from 14.6% to 14.8% or a increase of $2.7M. The increase is primarily due to approximately $2.5M of legal and settlement costs. Adjusting for the legal and settlement costs, SG&A expense as a percent of sales would have decreased to 13.8%. End Market Exposure (*) New constructio n 63% Home repair & remodel 37% (*) For the three months ended December 31, 2016
  • 11.
    PlyGem.com11 W&D Segment GrossMargin – Fourth Quarter 18.5% 19.1%1.… 0.9% 2.7% 15.0% 17.0% 19.0% 21.0% 23.0% 25.0% Q4 2015 Gross Margin Selling Price / Product Mix Labor, Conversion & Freight Costs Unfavorable FX / Other Q4 2016 Gross Margin Quarterly Gross Margin Performance • Selling price/product mix reflect favorable product mix and impact of selling price increases implemented in 2016 for the U.S. and Canada. • Short-term unfavorable labor, conversion and freight costs primarily due to transition from captive delivery trucks to dedicated third party logistics partner and related inefficiencies.
  • 12.
    PlyGem.com12 W&D Segment –Full Year 2016 Full Year Results ($ in Millions) $930.1 $885.3 $94.9 $114.3 2016 2015 Net Sales U.S. Canada $999.6$1,025.0 Gross Margin % 2016 2015 U.S. 19.7% 18.1% Canada 20.4% 18.3% W&D Segment 19.8% 18.1% Key Highlights • Sales increase of $25.4M or 2.5%, primarily due to the organic growth of our U.S. businesses and favorable price and product mix within the segment. Overall U.S. new construction and repair & remodel product growth, including price and product mix, increased sales by $44.8M. This sales growth was partially offset by weaker market conditions in Western Canada and the related foreign currency exchange rates which combined reduced sales by $19.4M. • Gross margin improved by 170 basis points primarily driven by improved pricing and product mix in both our U.S. and Canadian businesses, realized synergies from the Simonton acquisition, and improved operating leverage at our U.S. businesses based on higher volumes, partially offset by unfavorable foreign currency and decreased operating leverage in Western Canada. • SG&A expense as a percent of sales decreased from 15.1% to 14.3% or a decrease of $3.9M. The decrease is primarily due to leveraging the fixed component of SG&A expense, lower personnel costs and severance costs associated with the integration of various general and administrative functions within Simonton and lower Western Canadian restructuring and integration costs due to the consolidation of manufacturing locations in 2014/2015, partially offset by increased legal and settlement costs of approximately $2.8M in 2016. End Market Exposure New constructio n 68% Home repair & remodel 32%
  • 13.
    PlyGem.com13 W&D Segment GrossMargin – Full Year 18.1% 19.8%1.4% 1.1% 3.… 0.… 10.0% 12.0% 14.0% 16.0% 18.0% 20.0% 22.0% 24.0% 2015 Gross Margin Selling Price / Product Mix Commodity Costs Labor, Conversion & Freight Costs Unfavorable FX / Other 2016 Gross Margin 2016 Gross Margin Performance • Selling price/product mix reflect favorable product mix and impact of selling price increases implemented in 2016 for the U.S. and Canada. • Commodity cost favorability due mainly to aluminum costs and synergies realized through the Simonton acquisition, partially offset by rising PVC resin costs. • Unfavorable labor, conversion & freight costs. 20.9% 15.4% 14.0% 15.4% 13.1% 13.8% 9.7% 12.9% 18.1% 19.8% 1,046 622 445 471 431 535 618 648 715 782 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 Historical Gross Margin Performance Annual Gross Profit % U.S. SFHS - in thousands (*) Note: Includes Simonton from date of acquisition
  • 14.
    PlyGem.com14 Siding, Fencing &Stone (SFS) Segment – Fourth Quarter Fourth Quarter Results ($ in Millions) $184.1 $166.4 $23.0 $23.6 Q4 2016 Q4 2015 Net Sales U.S. Canada $190.0 $207.1 Gross Margin % Q4 2016 Q4 2015 U.S. 26.3% 29.7% Canada 27.4% 25.4% SFS Segment 26.4% 29.2% (*) For the three months ended December 31, 2016 Key Highlights • Sales increase of $17.1M or 9.0% primarily driven by organic unit growth of 12.6% in the U.S. business. The quarterly segment sales growth was partially offset by lower average selling prices of $5.0M due to lower raw material costs, weaker market conditions in Canada which impacted demand for vinyl siding products and accessories. • Gross margin contracted by 280 basis points, primarily driven by lower average selling prices, decreased operating leverage in Canada and unfavorable foreign currency, partially offset by favorable operating leverage in the U.S. business. • SG&A expense decreased $2.1M due to leveraging the fixed component of SG&A expense. SG&A expense as a percent of sales decreased from 12.4% to 10.4%. End Market Exposure (*) New construction 38% Home repair & remodel 62%
  • 15.
    PlyGem.com15 SFS Segment GrossMargin – Fourth Quarter 29.2% 26.… 1.4% 0.7% 0.7% 24.0% 28.0% 32.0% Q4 2015 Gross Margin Selling Price / Product Mix Commodity Costs & Mfg. Leverage Unfavorable FX / Other Q4 2016 Gross Margin Quarterly Gross Margin Performance • Unfavorable commodity costs due mainly from PVC resin and aluminum, partially offset by favorable manufacturing leverage due to a 12.6% increase in units sold. • Selling price/product mix reflects a higher proportion of metal products sold during the quarter compared to the prior year which carry a lower gross margin.
  • 16.
    PlyGem.com16 SFS Segment –Full Year 2016 Full Year Results ($ in Millions) $783.2 $731.1 $103.7 $109.0 2016 2015 Net Sales U.S. Canada $840.1$886.9 Gross Margin % 2016 2015 U.S. 29.6% 28.2% Canada 27.0% 29.6% SFS Segment 29.3% 28.4% Key Highlights • Sales increase of $46.7M or 5.6% primarily driven by organic unit growth of 10.6% in the U.S. business and the incremental sales from our Canyon Stone acquisition which accounted for $11.7M of sales growth. The sales growth was partially offset by lower average selling prices due to lower raw material costs and weaker market conditions in Canada which impacted demand for vinyl siding products and accessories and unfavorable foreign currency exchange rates. • Gross margin expanded by 90 basis points, primarily driven by favorable leverage on additional sales volume, lower commodity costs and freight expense, partially offset by lower average selling prices, decreased operating leverage in Canada and unfavorable foreign currency. • SG&A expense decreased $1.1M due to initiatives which lowered sales and marketing expenses by $3.6M, partially offset by $2.6M associated with the Canyon Stone acquisition. SG&A expense as a percent of sales decreased from 10.8% to 10.1%. End Market Exposure New construction 37% Home repair & remodel 63%
  • 17.
    PlyGem.com17 SFS Segment GrossMargin – Full Year 28.4% 29.3% 3.… 0.3% 4.6 % 20.0% 25.0% 30.0% 35.0% 2015 Gross Margin Commodity Costs / Mfg. Leverage Selling Price / Product Mix Unfavorable FX / Other 2016 Gross Margin 2016 Gross Margin Performance • Commodity cost favorability due mainly from aluminum and PVC resin costs. • Improved manufacturing leverage due to increase is units sold during 2016. • Selling price/product mix reflects a higher proportion of metal products sold during 2016 compared to the prior year which carry a lower gross margin. 20.4% 18.4% 25.9% 25.7% 24.8% 27.4% 26.8% 26.1% 28.4% 29.3% .5208 .6200 .5288 .6458 .6971 .6975 .7134 .7534 .7250 .7617 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 Historical Gross Margin Performance Annual Gross Profit % PVC Resin Price/lbs (*)
  • 18.
    PlyGem.com18 Acquisition Synergies andCost Savings $23.5 $9.0 $14.5 $- $5.0 $10.0 $15.0 $20.0 $25.0 2015 Realized Acq. Synergies 2016 Acq. Synergies Realized Cumulative Acq. Synergies Realized • Simonton –$22.5M of synergies and cost savings from Simonton acquisition identified through raw material sourcing, manufacturing efficiencies, insourcing products and SG&A • Canyon Stone –$1M of synergies and cost savings from Canyon Stone acquisition identified through manufacturing efficiencies and raw material sourcing • During 2016, acquisition synergies of $14.5M have been realized, bringing the total acquisition synergies related to the Simonton and Canyon Stone acquisitions to $23.5M.
  • 19.
    PlyGem.com19 Margin Enhancements &Growth Initiatives Selling Price Increases ü W&D Q1 2017 price increases were announced in October 2016. Selling price increases range from 6% to 8% ü SFS December 2016 price increases have been announced in November 2016 for the U.S. siding products due to rising material costs. Selling price increases range from 6% to 8% Growth Initiatives ü Cross Selling Opportunities – Continue to integrate our extensive product categories across our legacy customer base and acquired Simonton customer base ü Expand market penetration of Ply Gem’s adjacent products such as PVC trim, engineered roofing and engineered stone ü Continued new product innovation through the Ply Gem Insight Center and Foundation Labs
  • 20.
    PlyGem.com20 Economic Outlook &Guidance Expect Continued Steady Growth in U.S. Housing Starts ü Expect overall moderate growth of 5% to 10% in U.S. housing recovery in 2017 ü Expect an overall moderate growth rate for big ticket R&R spend of approximately 3% to 5% in 2017 ü Overall Canadian housing starts expected to be relatively flat compared to 2016 2017 EBITDA Guidance ü Based on the forecasted growth of the U.S. housing market and R&R spend, the impact of our enacted selling price increases and other margin enhancing initiatives, we expect our adjusted EBITDA 2017 to be in the range of $250M to $265M
  • 21.
  • 22.
    PlyGem.com22 Fourth Quarter AdjustedEBITDA Reconciliation (amounts in thousands) For the three months ended December 31,2016 For the three months ended December 31,2015 Net income $6,663 $9,064 Interest expense, net 17,670 18,234 Provision (benefit) for income taxes (3,398) 1,074 Depreciation and amortization 13,937 14,092 EBITDA $34,872 $42,464 Non cash loss in foreign currency transactions 429 1,065 Acquisition costs - 9 Customer inventory buybacks 410 266 Restructuring/integrationexpense (80) (57) Litigation – class action charges, net 1,875 - Tax receivable agreement liability adjustment 268 (520) Loss on modification or extinguishment of debt 7,097 - Adjusted EBITDA $44,871 $43,227
  • 23.
    PlyGem.com23 Full Year AdjustedEBITDA Reconciliation (amounts in thousands) For the year ended December 31,2016 For the year ended December 31,2015 Net income $75,487 $32,288 Interest expense, net 72,682 74,819 Benefit for income taxes (51,995) (688) Depreciation and amortization 56,403 58,400 EBITDA $152,577 $164,819 Non cash loss (gain) in foreign currency transactions (299) 3,166 Acquisition costs - 656 Customer inventory buybacks 1,811 957 Restructuring/integrationexpense 433 3,221 Non cash charge of purchase price allocated to inventories - 54 Litigation – class action charges, net 1,875 (1,194) Tax receivable agreement liability adjustment 60,874 12,947 Loss on modification or extinguishment of debt 11,747 - Adjusted EBITDA $229,018 $184,626
  • 24.
    PlyGem.com24 Fourth Quarter EBITDAAdjustments By Segment (*) (amounts in thousands) For the three months ended December 31,2016 For the three months ended December 31,2015 SFS Segment W&D Segment Total SFS Segment W&D Segment Total Non cash loss on foreign current transactions $57 $372 $429 $162 $903 $1,065 Acquisition costs - - - 9 - 9 Customer inventory buybacks 410 - 410 194 72 266 Restructuring/integrationexpense - (80) (80) (4) (53) (57) Litigation – class action charges, net - 1,875 1,875 - - - $467 $2,167 $2,634 $361 $922 $1,283 (*) Does not reflect unallocated and corporate EBITDA adjustments
  • 25.
    PlyGem.com25 Full Year EBITDAAdjustments By Segment (*) (amounts in thousands) For the year ended December 31, 2016 For the year ended December 31, 2015 SFS Segment W&D Segment Total SFS Segment W&D Segment Total Non cash loss (gain) on foreign current transactions ($204) ($95) ($299) $954 $2,212 $3,166 Acquisition costs - - - 397 259 656 Customer inventory buybacks 1,824 (13) 1,811 447 510 957 Restructuring/integrationexpense 190 243 433 482 2,739 3,221 Non cash charge of purchase price allocated to inventories - - - 54 - 54 Litigation – class action charges, net - 1,875 1,875 - (1,194) (1,194) $1,810 $2,010 $3,820 $2,334 $4,526 $6,860 (*) Does not reflect unallocated and corporate EBITDA adjustments