0001173514-17-000021.txt : 20170228 0001173514-17-000021.hdr.sgml : 20170228 20170228172144 ACCESSION NUMBER: 0001173514-17-000021 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20170228 ITEM INFORMATION: Results of Operations and Financial Condition ITEM INFORMATION: Regulation FD Disclosure ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20170228 DATE AS OF CHANGE: 20170228 FILER: COMPANY DATA: COMPANY CONFORMED NAME: HYSTER-YALE MATERIALS HANDLING, INC. CENTRAL INDEX KEY: 0001173514 STANDARD INDUSTRIAL CLASSIFICATION: INDUSTRIAL TRUCKS TRACTORS TRAILERS & STACKERS [3537] IRS NUMBER: 311637659 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-54799 FILM NUMBER: 17649358 BUSINESS ADDRESS: STREET 1: 5875 LANDERBROOK DRIVE STREET 2: SUITE 300 CITY: CLEVELAND STATE: OH ZIP: 44124 BUSINESS PHONE: 4404499600 MAIL ADDRESS: STREET 1: 5875 LANDERBROOK DRIVE STREET 2: SUITE 300 CITY: CLEVELAND STATE: OH ZIP: 44124 FORMER COMPANY: FORMER CONFORMED NAME: HYSTER YALE MATERIALS HANDLING INC. DATE OF NAME CHANGE: 20120628 FORMER COMPANY: FORMER CONFORMED NAME: NMHG HOLDING CO DATE OF NAME CHANGE: 20020515 8-K 1 hy123116dataschedule8k.htm 8-K Document



 
 
 
 
 

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549

 _______________________________________________________________________________________________________________________________________________________________________________________________________

FORM 8-K

CURRENT REPORT
Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934
 

Date of Report (Date of earliest event reported):
February 28, 2017
 
 
 
HYSTER-YALE MATERIALS HANDLING, INC.
(Exact name of registrant as specified in its charter)
 
 
 
DELAWARE
000-54799
31-1637659
(State or other jurisdiction of incorporation)
(Commission File Number)
(IRS Employer Identification No.)
 
 
 
5875 LANDERBROOK DRIVE, SUITE 300, CLEVELAND, OHIO
44124-4069
(Address of principal executive offices)
(Zip code)
 
 
 
(440) 449-9600
(Registrant's telephone number, including area code)
 
 
 
N/A
(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
[ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 
 
 
 
 




Item 2.02 Results of Operations and Financial Condition and
Item 7.01 Regulation FD Disclosure.
    
On February 28, 2017, Hyster-Yale Materials Handling, Inc. (the “Company”) will post on its website at www.hyster-yale.com additional historical quarterly financial data and update the schedules that were previously posted to the website for the fourth quarter 2016 results. A copy of the data is attached as Exhibit 99 to this Current Report on Form 8-K.

This Current Report on Form 8-K and the information attached hereto are being furnished by the Company pursuant to Item 2.02 of Form 8-K, insofar as they disclose historical information regarding the Company's results of operations.

The information in this Current Report on Form 8-K, including Exhibit 99, shall not be deemed “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liability of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in such a filing.

Item 9.01 Financial Statements and Exhibits.

As described in Item 2.02 and 7.01 of this Current Report on Form 8-K, the following Exhibit is furnished as part of this Current Report on Form 8-K.
    
(d) Exhibits
 
 
 
 
 
99
 
Hyster-Yale Materials Handling, Inc. historical quarterly financial data, as posted on its website at www.hyster-yale.com on February 28, 2017.
 
 
 







SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.


 
 
 
 
Date:
February 28, 2017
 
HYSTER-YALE MATERIALS HANDLING, INC.
 
 
 
 
 
 
By:
/s/ Kenneth C. Schilling
 
 
 
Name: Kenneth C. Schilling
 
 
 
Title: Senior Vice President and Chief Financial Officer
 
 
 
 

                            

                            




EXHIBIT INDEX

Exhibit Number
 
Description
 
 
 
99
 
Hyster-Yale Materials Handling, Inc. historical quarterly financial data, as posted on its website at www.hyster-yale.com on February 28, 2017.
 
 
 

    



 EX-99 2 hydataschedule123116ex99.htm EXHIBIT 99 Exhibit


 
 
 
 
 
 
 
 
 
 
 
EXHIBIT 99
 
Hyster-Yale Materials Handling, Inc.
(in millions, except percentage data)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Backlog (in thousands)
 
 
 
 
 
 
 
 
 
Q1
Q2
Q3
Q4
FY
 
 
 
 
 
 
 
 
2015
31.9

30.9

27.1

26.9

26.9

 
 
 
 
 
 
 
 
2016
29.9

30.5

30.6

29.6

29.6

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Unit Shipments (in thousands)
 
 
 
 
 
 
 
 
 
Q1
Q2
Q3
Q4
FY
 
 
 
 
 
 
 
 
2015
19.9

22.4

22.4

22.2

86.9

 
 
 
 
 
 
 
 
2016
20.5

21.1

20.3

22.9

84.8

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenues - Americas
 
 
Revenues - Americas - % change yr. over yr.
 
 
Q1
Q2
Q3
Q4
FY
 
 
Q1
Q2
Q3
Q4
FY
 
2015
415.9

463.9

454.1

441.6

1,775.5

 
2015
-9.0
 %
5.2
 %
-5.2
 %
-9.9
 %
-4.9
 %
 
2016
417.2

411.8

408.4

431.8

1,669.2

 
2016
0.3
 %
-11.2
 %
-10.1
 %
-2.2
 %
-6.0
 %
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenues - EMEA
 
 
Revenues - EMEA - % change yr. over yr.
 
 
Q1
Q2
Q3
Q4
FY
 
 
Q1
Q2
Q3
Q4
FY
 
2015
157.6

146.2

145.1

157.5

606.4

 
2015
-6.7
 %
-20.6
 %
-11.3
 %
-7.1
 %
-11.6
 %
 
2016
147.0

155.6

137.1

173.2

612.9

 
2016
-6.7
 %
6.4
 %
-5.5
 %
10.0
 %
1.1
 %
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenues - JAPIC
 
 
Revenues - JAPIC - % change yr. over yr.
 
 
Q1
Q2
Q3
Q4
FY
 
 
Q1
Q2
Q3
Q4
FY
 
2015
47.6

48.2

52.4

45.5

193.7

 
2015
-5.0
 %
-19.3
 %
-1.5
 %
-10.8
 %
-9.5
 %
 
2016
39.7

39.1

46.2

44.5

169.5

 
2016
-16.6
 %
-18.9
 %
-11.8
 %
-2.2
 %
-12.5
 %
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenues - Bolzoni (4)
 
 
Revenues - Bolzoni - % change yr. over yr. (4)
 
 
Q1
Q2
Q3
Q4
FY
 
 
Q1
Q2
Q3
Q4
FY
 
2016
—

38.9

36.2

40.5

115.6

 
2016
—

n.m.
n.m.
n.m.
n.m.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenues - Nuvera
 
 
Revenues - Nuvera - % change yr. over yr.
 
 
Q1
Q2
Q3
Q4
FY
 
 
Q1
Q2
Q3
Q4
FY
 
2015
1.2

0.4

0.5

0.4

2.5

 
2015
n.m.
n.m.
n.m.
n.m.
n.m.
 
2016
0.3

0.2

1.4

0.6

2.5

 
2016
n.m.
n.m.
n.m.
n.m.
n.m.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenues - Consolidated
 
 
Revenues - Consolidated - % change yr. over yr.
 
 
Q1
Q2
Q3
Q4
FY
 
 
Q1
Q2
Q3
Q4
FY
 
2015
622.3

658.7

652.1

645.0

2,578.1

 
2015
-7.9
 %
-3.8
 %
-6.3
 %
-9.2
 %
-6.8
 %
 
2016
604.2

645.6

629.3

690.6

2,569.7

 
2016
-2.9
 %
-2.0
 %
-3.5
 %
7.1
 %
-0.3
 %
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Gross Profit
 
 
Gross Profit %
 
 
Q1
Q2
Q3
Q4
FY
 
 
Q1
Q2
Q3
Q4
FY
 
2015
102.9

110.6

106.7

110.6

430.8

 
2015
16.5
 %
16.8
 %
16.4
 %
17.1
 %
16.7
 %
 
2016
97.9

114.0

104.6

111.0

427.5

 
2016
16.2
 %
17.7
 %
16.6
 %
16.1
 %
16.6
 %
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Operating Expenses
 
 
Operating Expenses as a % of revenues
 
 
Q1
Q2
Q3
Q4
FY
 
 
Q1
Q2
Q3
Q4
FY
 
2015
81.9

83.3

77.7

84.4

327.3

 
2015
13.2
 %
12.6
 %
11.9
 %
13.1
 %
12.7
 %
 
2016
88.2

102.6

99.2

102.6

392.6

 
2016
14.6
 %
15.9
 %
15.8
 %
14.9
 %
15.3
 %
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Operating Profit (Loss)
 
 
Operating Profit (Loss) %
 
 
Q1
Q2
Q3
Q4
FY
 
 
Q1
Q2
Q3
Q4
FY
 
2015
21.0

27.3

29.0

26.2

103.5

 
2015
3.4
 %
4.1
 %
4.4
 %
4.1
 %
4.0
 %
 
2016
9.7

11.4

5.4

8.4

34.9

 
2016
1.6
 %
1.8
 %
0.9
 %
1.2
 %
1.4
 %
 




Hyster-Yale Materials Handling, Inc.
(in millions, except percentage data)
 
 
 
 
 
 
 
Interest (Income) Expense
 
 
 
 
 
 
 
 
 
Q1
Q2
Q3
Q4
FY
 
 
 
 
 
 
 
 
2015
0.7

1.0

1.0

0.5

3.2

 
 
 
 
 
 
 
 
2016
0.7

1.3

1.4

1.3

4.7

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Other (Income) Expense
 
 
 
 
 
 
 
 
 
Q1
Q2
Q3
Q4
FY
 
 
 
 
 
 
 
 
2015
0.6

(1.1
)
(0.4
)
(3.3
)
(4.2
)
 
 
 
 
 
 
 
 
2016
0.1

(1.7
)
(2.9
)
(3.6
)
(8.1
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Income (Loss) Before Taxes
 
 
Effective Income Tax Rate
 
 
Q1
Q2
Q3
Q4
FY
 
 
Q1
Q2
Q3
Q4
FY
 
2015
19.7

27.4

28.4

29.0

104.5

 
2015
28.9
%
16.8
%
26.1
%
40.3
%
28.1
%
 
2016
8.9

11.8

6.9

10.7

38.3

 
2016
n.m.
29.7
%
n.m.

n.m.

n.m.

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net Income (Loss) Attributable to Stockholders
 
 
 
 
 
 
 
 
 
Q1
Q2
Q3
Q4
FY
 
 
 
 
 
 
 
 
2015
13.9

22.7

20.9

17.2

74.7

 
 
 

 
 
 
 
2016
10.0

8.3

12.3

12.2

42.8

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Depreciation and Amortization Expense
 
 
 
 
 
 
 
 
 
Q1
Q2
Q3
Q4
FY
 
 
 
 
 
 
 
 
2015
7.3

7.6

7.2

6.8

28.9

 
 
 
 
 
 
 
 
2016
6.9

10.2

11.6

10.4

39.1

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net Working Capital (1)
 
 
 
 
 
 
 
 
 
Q1
Q2
Q3
Q4
FY
 
 
 
 
 
 
 
 
2015
322.5

369.6

357.8

333.3

333.3

 
 
 
 
 
 
 
 
2016
336.7

367.1

365.6

468.6

468.6

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Capital Expenditures
 
 
 
 
 
 
 
 
 
Q1
Q2
Q3
Q4
FY
 
 
 
 
 
 
 
 
2015
9.8

8.9

10.2

17.7

46.6

 
 
 
 
 
 
 
 
2016
6.6

10.6

11.1

14.4

42.7

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net Cash Provided By (Used For) Operating Activities
 
 
 
 
 
 
 
 
 
Q1
Q2
Q3
Q4
FY
 
 
 
 
 
 
 
 
2015
(3.4
)
0.6

34.1

58.1

89.4

 
 
 
 
 
 
 
 
2016
(18.3
)
(4.6
)
45.8

(71.8
)
(48.9
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net Cash Provided By (Used For) Investing Activities
 
 
 
 
 
 
 
 
 
Q1
Q2
Q3
Q4
FY
 
 
 
 
 
 
 
 
2015
(8.0
)
(1.7
)
(7.3
)
(14.3
)
(31.3
)
 
 
 
 
 
 
 
 
2016
1.8

(118.0
)
(10.3
)
(18.6
)
(145.1
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash Flow Before Financing Activities (2)
 
 
 
 
 
 
 
 
 
Q1
Q2
Q3
Q4
FY
 
 
 
 
 
 
 
 
2015
(11.4
)
(1.1
)
26.8

43.8

58.1

 
 
 
 
 
 
 
 
2016
(16.5
)
(122.6
)
35.5

(90.4
)
(194.0
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 





Hyster-Yale Materials Handling, Inc.
(in millions, except percentage data)
 
 
 
 
 
 
 
 
 
 
 
Net Cash Provided By (Used For) Financing Activities
 
 
 
 
 
 
 
 
 
Q1
Q2
Q3
Q4
FY
 
 
 
 
 
 
 
 
2015

(0.6
)
6.1

(10.3
)
(2.3
)
(7.1
)
 
 
 
 
 
 
 
 
2016

(5.1
)
36.1

(3.0
)
49.9

77.9

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Dividends Paid to Stockholders
 
 
 
 
 
 
 
 
 
Q1
Q2
Q3
Q4
FY
 
 
 
 
 
 
 
 
2015

4.5

4.7

4.6

4.6

18.4

 
 
 
 
 
 
 
 
2016

4.7

4.8

4.8

4.9

19.2

 
 
 



 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Total Debt
 
 
 
 
 
 
 
 
 
Q1
Q2
Q3
Q4
FY
 
 
 
 
 
 
 
 
2015

35.1

53.7

47.0

53.1

53.1

 
 
 
 
 

 
 
2016

63.0

150.6

152.8

211.2

211.2

 
 
 
 
 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Equity
 
 
Return on Equity (3)
 
 
Q1
Q2
Q3
Q4
FY
 
 
Q1
Q2
Q3
Q4
FY
 
2015

422.0

457.9

458.4

462.7

462.7

 
2015
21.9
%
19.8
%
18.5
%
16.5
%
16.5
%
 
2016

495.9

501.4

513.0

470.4

470.4

 
2016
15.4
%
11.9
%
9.8
%
8.8
%
8.8
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(1
)
Net working capital is equal to accounts receivable, net plus inventories, net less accounts payable.
(2
)
Cash flow before financing activities is equal to net cash provided by (used for) operating activities plus net cash provided by (used for) investing activities.
(3
)
Return on equity is equal to the sum of the previous 4 quarters net income divided by average equity calculated over the last 5 quarters.
(4
)
Bolzoni was acquired on April 1, 2016.







 
 
 
 
 
 
 
 
 
 
 
 
 
Lift Truck Business
(in millions, except percentage data)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Backlog (in thousands)
 
 
 
 
 
 
 
 
 
Q1
Q2
Q3
Q4
FY
 
 
 
 
 
 
 
 
2015
31.9

30.9

27.1

26.9

26.9

 
 
 
 
 
 
 
 
2016
29.9

30.5

30.6

29.6

29.6

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Unit Shipments (in thousands)
 
 
 
 
 
 
 
 
 
Q1
Q2
Q3
Q4
FY
 
 
 
 
 
 
 
 
2015
19.9

22.4

22.4

22.2

86.9

 
 
 
 
 
 
 
 
2016
20.5

21.1

20.3

22.9

84.8

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenues - Americas
 
 
Revenues - Americas - % change yr. over yr.
 
 
Q1
Q2
Q3
Q4
FY
 
 
Q1
Q2
Q3
Q4
FY
 
2015
415.9

463.9

454.1

441.6

1,775.5

 
2015
-9.0
 %
5.2
 %
-5.2
 %
-9.9
 %
-4.9
 %
 
2016
417.2

411.8

408.4

431.8

1,669.2

 
2016
0.3
 %
-11.2
 %
-10.1
 %
-2.2
 %
-6.0
 %
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenues - EMEA
 
 
Revenues - EMEA - % change yr. over yr.
 
 
Q1
Q2
Q3
Q4
FY
 
 
Q1
Q2
Q3
Q4
FY
 
2015
157.6

146.2

145.1

157.5

606.4

 
2015
-6.7
 %
-20.6
 %
-11.3
 %
-7.1
 %
-11.6
 %
 
2016
147.0

155.6

137.1

173.2

612.9

 
2016
-6.7
 %
6.4
 %
-5.5
 %
10.0
 %
1.1
 %
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenues - JAPIC
 
 
Revenues - JAPIC - % change yr. over yr.
 
 
Q1
Q2
Q3
Q4
FY
 
 
Q1
Q2
Q3
Q4
FY
 
2015
47.6

48.2

52.4

45.5

193.7

 
2015
-5.0
 %
-19.3
 %
-1.5
 %
-10.8
 %
-9.5
 %
 
2016
39.7

39.1

46.2

44.5

169.5

 
2016
-16.6
 %
-18.9
 %
-11.8
 %
-2.2
 %
-12.5
 %
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenues - Lift Truck Business
 
 
Revenues - Lift Truck Business - % change yr. over yr.
 
 
Q1
Q2
Q3
Q4
FY
 
 
Q1
Q2
Q3
Q4
FY
 
2015
621.1

658.3

651.6

644.6

2,575.6

 
2015
-8.1
 %
-3.9
 %
-6.4
 %
-9.3
 %
-6.9
 %
 
2016
603.9

606.5

591.7

649.5

2,451.6

 
2016
-2.8
 %
-7.9
 %
-9.2
 %
0.8
 %
-4.8
 %
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Gross Profit
 
 
Gross Profit %
 
 
Q1
Q2
Q3
Q4
FY
 
 
Q1
Q2
Q3
Q4
FY
 
2015
103.7

111.0

106.9

111.0

432.6

 
2015
16.7
 %
16.9
 %
16.4
 %
17.2
 %
16.8
 %
 
2016
98.5

101.6

95.7

98.7

394.5

 
2016
16.3
 %
16.8
 %
16.2
 %
15.2
 %
16.1
 %
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Operating Expenses
 
 
Operating Expenses as a % of revenues
 
 
Q1
Q2
Q3
Q4
FY
 
 
Q1
Q2
Q3
Q4
FY
 
2015
76.7

77.8

71.3

78.7

304.5

 
2015
12.3
 %
11.8
 %
10.9
 %
12.2
 %
11.8
 %
 
2016
82.7

82.6

75.2

79.4

319.9

 
2016
13.7
 %
13.6
 %
12.7
 %
12.2
 %
13.0
 %
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Operating Profit (Loss)
 
 
Operating Profit (Loss) %
 
 
Q1
Q2
Q3
Q4
FY
 
 
Q1
Q2
Q3
Q4
FY
 
2015
27.0

33.2

35.6

32.3

128.1

 
2015
4.3
 %
5.0
 %
5.5
 %
5.0
 %
5.0
 %
 
2016
15.8

19.0

20.5

19.3

74.6

 
2016
2.6
 %
3.1
 %
3.5
 %
3.0
 %
3.0
 %
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 




Lift Truck Business
(in millions, except percentage data)
 
 
 
 
 
 
 
Interest (Income) Expense
 
 
 
 
 
 
 
 
 
Q1
Q2
Q3
Q4
FY
 
 
 
 
 
 
 
 
2015
0.7

1.0

1.0

0.5

3.2

 
 
 
 
 
 
 
 
2016
0.7

0.9

1.2

1.1

3.9

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Other (Income) Expense
 
 
 
 
 
 
 
 
 
Q1
Q2
Q3
Q4
FY
 
 
 
 
 
 
 
 
2015
0.6

(1.1
)
(0.4
)
(3.3
)
(4.2
)
 
 
 
 
 
 
 
 
2016
0.1

(1.7
)
(2.9
)
(3.4
)
(7.9
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Income (Loss) Before Taxes
 
 
Effective Income Tax Rate
 
 
Q1
Q2
Q3
Q4
FY
 
 
Q1
Q2
Q3
Q4
FY
 
2015
25.7

33.3

35.0

35.1

129.1

 
2015
31.5
%
21.0
%
28.6
%
40.7
%
30.5
%
 
2016
15.0

19.8

22.2

21.6

78.6

 
2016
22.7
%
34.3
%
n.m.

16.7
%
15.5
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net Income (Loss) Attributable to Stockholders
 
 
 
 
 
 
 
 
 
Q1
Q2
Q3
Q4
FY
 
 
 
 
 
 
 
 
2015
17.5

26.2

24.9

20.7

89.3

 
 
 
 
 
 
 
 
2016
13.7

13.1

21.9

18.2

66.9

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Depreciation and Amortization Expense
 
 
 
 
 
 
 
 
 
Q1
Q2
Q3
Q4
FY
 
 
 
 
 
 
 
 
2015
6.9

7.1

6.9

6.4

27.3

 
 
 
 
 
 
 
 
2016
6.5

7.0

7.3

7.3

28.1

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net Working Capital (1)
 
 
 
 
 
 
 
 
 
Q1
Q2
Q3
Q4
FY
 
 
 
 
 
 
 
 
2015
318.7

365.3

353.3

327.2

327.2

 
 
 
 
 
 
 
 
2016
328.1

319.7

306.7

409.1

409.1

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Capital Expenditures
 
 
 
 
 
 
 
 
 
Q1
Q2
Q3
Q4
FY
 
 
 
 
 
 
 
 
2015
9.8

7.9

9.6

16.6

43.9

 
 
 
 
 
 
 
 
2016
6.0

9.7

9.5

11.3

36.5

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net Cash Provided By (Used For) Operating Activities
 
 
 
 
 
 
 
 
 
Q1
Q2
Q3
Q4
FY
 
 
 
 
 
 
 
 
2015
1.1

3.6

38.0

63.3

106.0

 
 
 
 
 
 
 
 
2016
(11.6
)
11.3

56.0

(73.3
)
(17.6
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net Cash Provided By (Used For) Investing Activities
 
 
 
 
 
 
 
 
 
Q1
Q2
Q3
Q4
FY
 
 
 
 
 
 
 
 
2015
(8.0
)
(0.7
)
(6.8
)
(13.2
)
(28.7
)
 
 
 
 
 
 
 
 
2016
2.4

(102.7
)
(9.0
)
(7.4
)
(116.7
)
 
 
 
 
 
 
 
 







Lift Truck Business
(in millions, except percentage data)
 
 
 
 
 
 
 
Cash Flow Before Financing Activities (2)
 
 
 
 
 
 
 
 
 
Q1
Q2
Q3
Q4
FY
 
 
 
 
 
 
 
 
2015

(6.9
)
2.9

31.2

50.1

77.3

 
 
 
 
 
 
 
 
2016

(9.2
)
(91.4
)
47.0

(80.7
)
(134.3
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net Cash Provided By (Used For) Financing Activities
 
 
 
 
 
 
 
 
 
Q1
Q2
Q3
Q4
FY
 
 
 
 
 
 
 
 
2015

(4.3
)
2.1

(14.7
)
(8.5
)
(25.4
)
 
 
 
 
 
 
 
 
2016

(12.3
)
(3.3
)
(13.4
)
37.2

8.2

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(1
)
Net working capital is equal to accounts receivable, net plus inventories, net less accounts payable.
(2
)
Cash flow before financing activities is equal to net cash provided by (used for) operating activities plus net cash provided by (used for) investing activities.






Bolzoni (1)
(in millions, except percentage data)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenues
 
 
 
 
 
Q1
Q2
Q3
Q4
FY
 
 
 
 
 
 
 
 
2016

—

38.9

36.2

40.5

115.6

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Gross Profit (Loss)
 
 
 
 
 
Q1
Q2
Q3
Q4
FY
 
 
 
 
 
 
 
 
2016

—

12.8

9.2

13.7

35.7

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Operating Expenses
 
 
 
 
 
Q1
Q2
Q3
Q4
FY
 
 
 
 
 
 
 
 
2016

—

12.1

11.7

12.0

35.8

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Operating Profit (Loss)
 
 
 
 
 
Q1
Q2
Q3
Q4
FY
 
 
 
 
 
 
 
 
2016

—

0.7

(2.5
)
1.7

(0.1
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Income (Loss) Before Taxes
 
 
 
 
 
 
 
 
 
Q1
Q2
Q3
Q4
FY
 
 
 
 
 
 
 
 
2016

—

0.3

(2.7
)
1.7

(0.7
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Effective Income Tax Rate
 
 
 
 
 
 
 
 
 
Q1
Q2
Q3
Q4
FY
 
 
 
 
 
 
 
 
2016

—

33.3
%
18.5
%
n.m.

n.m.

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net Income (Loss) Attributable to Stockholders
 
 
 
 
 
 
 
 
 
Q1
Q2
Q3
Q4
FY
 
 
 
 
 
 
 
 
2016

—

0.1

(2.0
)
1.6

(0.3
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(1
)
Bolzoni was acquired on April 1, 2016.





 
 
 
 
 
 
 
 
 
 
 
 
 
Nuvera
(in millions, except percentage data)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenues
 
 
 
 
 
Q1
Q2
Q3
Q4
FY
 
 
 
 
 
 
 
 
2015
1.2

0.4

0.5

0.4

2.5

 
 
 
 
 
 
 
 
2016
0.3

0.2

1.4

0.6

2.5

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Gross Profit (Loss)
 
 
 
 
 
Q1
Q2
Q3
Q4
FY
 
 
 
 
 
 
 
 
2015
(0.8
)
(0.4
)
(0.2
)
(0.4
)
(1.8
)
 
 
 
 
 
 
 
 
2016
(0.6
)
(0.4
)
(0.3
)
(1.4
)
(2.7
)
 
 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Operating Expenses
 
 
 
 
 
Q1
Q2
Q3
Q4
FY
 
 
 
 
 
 
 
 
2015
5.2

5.5

6.4

5.7

22.8

 
 
 
 
 
 
 
 
2016
5.5

7.9

12.3

11.2

36.9

 
 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Operating Profit (Loss)
 
 
 
 
 
Q1
Q2
Q3
Q4
FY
 
 
 
 
 
 
 
 
2015
(6.0
)
(5.9
)
(6.6
)
(6.1
)
(24.6
)
 
 
 
 
 
 
 
 
2016
(6.1
)
(8.3
)
(12.6
)
(12.6
)
(39.6
)
 
 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Income (Loss) Before Taxes
 
 
 
 
 
 
 
 
 
Q1
Q2
Q3
Q4
FY
 
 
 
 
 
 
 
 
2015
(6.0
)
(5.9
)
(6.6
)
(6.1
)
(24.6
)
 
 
 
 
 
 
 
 
2016
(6.1
)
(8.3
)
(12.6
)
(12.6
)
(39.6
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Effective Income Tax Rate
 
 
 
 
 
 
 
 
 
Q1
Q2
Q3
Q4
FY
 
 
 
 
 
 
 
 
2015
40.0
%
40.7
%
39.4
%
42.6
%
40.7
%
 
 
 
 
 
 
 
 
2016
39.3
%
41.0
%
39.7
%
39.7
%
39.9
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net Income (Loss) Attributable to Stockholders
 
 
 
 
 
 
 
 
 
Q1
Q2
Q3
Q4
FY
 
 
 
 
 
 
 
 
2015
(3.6
)
(3.5
)
(4.0
)
(3.5
)
(14.6
)
 
 
 
 
 
 
 
 
2016
(3.7
)
(4.9
)
(7.6
)
(7.6
)
(23.8
)