GUELPH, ON, March 9, 2022 /CNW/ - (TSX: LNR)
- New business wins ("NBW") hit a record level for 2021; the
fourth quarter of 2021 ("Q4 2021") was our second strongest quarter
in history for these NBW;
- NBW take launch book to nearly $4.1
billion;
- Strong 2021 electrified vehicle business wins, 50% higher in
dollars for business won than seen in 2020;
- Sales for 2021 up 12.4% and net earnings for 2021 up
50.7%;
- Free cash flow1 was $144.7 million for Q4 2021 continuing the
company's excellent balance sheet management;
- Liquidity1, measured as cash and cash equivalents
and available credit as at December 31,
2021, was $1.9 billion an
increase from $1.6 billion at
December 31, 2020;
- Strong content per vehicle1 growth in North America and Europe driven by programs we have significant
business with that have enjoyed disproportionately higher volumes
and increased sales for launching programs;
- The Mobility segment sales on launching programs and content on
prioritized vehicles have partially offset adverse conditions
associated with semiconductor supply related issues; and
- The Industrial segment saw increased access equipment sales
from market share growth for scissors, booms and telehandlers in
North America partially offsetting
decreased sales due to adverse impacts on delivering agricultural
products due to supply chain and labour constraints.
|
Three Months
Ended
|
Twelve Months
Ended
|
December
31
|
December
31
|
(in millions of
dollars, except per share figures)
|
2021
|
2020
|
2021
|
2020
|
$
|
$
|
$
|
$
|
Sales
|
1,534.4
|
1,704.8
|
6,536.6
|
5,815.6
|
Operating Earnings
(Loss)
|
|
|
|
|
Industrial
|
(11.5)
|
32.6
|
167.9
|
141.2
|
Mobility
|
81.6
|
122.8
|
433.3
|
283.0
|
Operating Earnings
(Loss)
|
70.1
|
155.4
|
601.2
|
424.2
|
Net Earnings
(Loss)
|
50.2
|
113.1
|
420.6
|
279.1
|
Net Earnings (Loss)
per Share – Diluted
|
0.77
|
1.73
|
6.41
|
4.27
|
Earnings before
interest, taxes and amortization ("EBITDA")1
|
178.0
|
279.1
|
1,032.6
|
877.0
|
Operating Earnings
(Loss) – Normalized1
|
|
|
|
|
Industrial
|
(4.2)
|
39.9
|
180.9
|
156.5
|
Mobility
|
85.3
|
136.5
|
424.5
|
301.5
|
Operating Earnings
(Loss) – Normalized
|
81.1
|
176.4
|
605.4
|
458.0
|
Net Earnings
(Loss) – Normalized1
|
59.0
|
129.1
|
428.4
|
314.6
|
Net Earnings
(Loss) per Share – Diluted –
Normalized1
|
0.90
|
1.97
|
6.53
|
4.81
|
EBITDA –
Normalized1
|
189.6
|
304.5
|
1,045.4
|
919.8
|
|
__________
|
1
|
Operating Earnings
(Loss) – Normalized, Net Earnings (Loss) – Normalized, Net Earnings
(Loss) per Share – Diluted – Normalized, EBITDA, EBITDA –
Normalized, Liquidity, and Free Cash Flow are non-GAAP financial
measures. Content per Vehicle is a Supplementary Financial Measure.
Please see "Non-GAAP and Other Financial Measures" section of this
press release.
|
Operating Highlights
Sales for Q4 2021 were $1,534.4
million, down $170.4 million
from $1,704.8 million in the fourth
quarter of 2020 ("Q4 2020").
The Industrial segment ("Industrial") product sales decreased
7.2%, or $22.6 million, to
$293.0 million in Q4 2021 from Q4
2020. The sales decrease was due to:
- agricultural sales declines due to supply chain and labour
constraints which are significantly impacting our ability to
deliver equipment; and
- an unfavourable impact on sales from the changes in foreign
exchange rates from Q4 2020; partially offset by
- additional access equipment sales primarily due to increased
market share in North America for
scissors, booms and telehandlers.
Sales for the Mobility segment ("Mobility") decreased by
$147.8 million, or 10.6% in Q4 2021
compared with Q4 2020. The sales in Q4 2021 were impacted by:
- a sales decline primarily attributed to adverse conditions
associated with semiconductor supply related issues experienced by
our customers; and
- an unfavourable impact on sales from the changes in foreign
exchange rates from Q4 2020; partially offset by
- additional sales for launching programs and increased volumes
for certain programs that the Company has significant business
with; and
- increased sales related to material metal market pass through
pricing partially offsetting the associated raw material
increases.
The Company's normalized operating earnings for Q4 2021 was
$81.1 million. This compares to
normalized operating earnings of $176.4 million in Q4 2020, a decrease of
$95.3 million.
Industrial segment normalized operating earnings in Q4 2021
decreased $44.1 million, or 110.5%
from Q4 2020. The Industrial normalized operating earnings results
were predominantly driven by:
- an increase in material, freight and labour costs associated
with ongoing supply issues and post pandemic pressures;
- a decrease in agricultural sales;
- a reduction in the utilization of Government support programs
related to the global COVID-19 pandemic; and
- an unfavourable impact from the changes in foreign exchange
rates from Q4 2020; partially offset by
- an increase in access equipment sales; and
- a reduction in provisions for receivables that were incurred in
Q4 2020 in the industrial markets primarily related to
COVID-19.
Q4 2021 normalized operating earnings for Mobility were lower by
$51.2 million, or 37.5% compared to
Q4 2020. The Mobility segment's earnings were impacted by the
following:
- a sales decline primarily attributed to adverse conditions
associated with semiconductor supply related issues experienced by
our customers;
- an increase in energy, material, freight and labour costs
associated with ongoing supply issues and post pandemic
pressures;
- an unfavourable impact from the changes in foreign exchange
rates from Q4 2020; and
- a reduction in the utilization of Government support programs
related to the global COVID-19 pandemic; partially offset by
- additional sales for launching programs and increased volumes
for certain programs that the Company has significant business
with; and
- a reduction in management compensation as a result of lower
sales and earnings.
"2021 presented some significant challenges in supply chain and
other constraints impacting our ability to deliver product and the
cost of what was delivered, but our team still produced double
digit top and bottom line growth as promised." said Linamar
Executive Chair and CEO Linda
Hasenfratz, "We had an absolutely outstanding year in new
business wins, which we are very excited about, a new record for us
in fact, with no less than 50% more in dollars of business won for
electrified vehicles than seen in 2020. Cash flow was again
strong, positioning us well for continued investment both
organically and through acquisition in an opportunistic
environment. We see significant opportunities out there for growth,
and with continued strong market demand, we envision a solid future
for us as supply chain challenges ease in coming quarters."
Dividends
The Board of Directors today declared an eligible dividend in
respect to the quarter ended December 31,
2021 of CDN$0.20 per share on
the common shares of the company, payable on or after April 19, 2022 to shareholders of record on
April 1, 2022.
NON-GAAP AND OTHER FINANCIAL MEASURES
The Company uses certain non-GAAP and other financial measures
to provide useful information to both management, investors and
other stakeholders in assessing the financial performance and
financial condition of the Company.
Certain expenses and income that must be recognized under GAAP
are not necessarily reflective of the Company's underlying
operational performance. For this reason, management uses certain
non-GAAP and other financial measures when analyzing operational
performance on a consistent basis.
These Non-GAAP and other financial measures do not have a
standardized meaning prescribed by GAAP and therefore they are
unlikely to be comparable to similarly titled measures presented by
other publicly traded companies, and they should not be construed
as an alternative to other financial measures determined in
accordance with GAAP.
Normalized Non-GAAP Financial Measures and Ratios
All Non-GAAP financial measures denoted with 'Normalized' as
presented by the Company are adjusted for foreign exchange gain
(loss), foreign exchange gain (loss) on debt and derivatives, and
other items.
Operating Earnings (Loss) – Normalized
Operating Earnings (Loss) – Normalized is a non-GAAP financial
measure and the Company believes it is useful in assessing the
Company's underlying operational performance and in making
decisions regarding the ongoing operations of the business.
Operating Earnings (Loss) – Normalized is calculated as Operating
Earnings (Loss), the most directly comparable measure as presented
in the Company's consolidated statement of earnings, adjusted for
foreign exchange gain (loss), and any other items, if applicable,
that are considered not to be indicative of underlying operational
performance.
Net Earnings (Loss) – Normalized
Net Earnings (Loss) – Normalized is a non-GAAP financial measure
and the Company believes it is useful in assessing the Company's
underlying operational performance and in making decisions
regarding the ongoing operations of the business. Net Earnings
(Loss) – Normalized is calculated as Net Earnings (Loss), the most
directly comparable measure as presented in the Company's
consolidated statement of earnings, adjusted for foreign exchange
gain (loss), foreign exchange gain (loss) on debt and derivatives,
and any other items, if applicable, that are considered not to be
indicative of underlying operational performance.
Net Earnings (Loss) per Share – Diluted –
Normalized
Net Earnings (Loss) per Share – Diluted –
Normalized is a non-GAAP financial ratio and the Company believes
it is useful in assessing the Company's underlying operational
performance and in making decisions regarding the ongoing
operations of the business. Net Earnings (Loss) per Share – Diluted
– Normalized is calculated as Net Earnings (Loss) – Normalized (as
defined above) divided by the fully diluted number of shares
outstanding as at the period end date.
EBITDA and EBITDA – Normalized
EBITDA is a
non-GAAP financial measure and the Company believes it is useful in
assessing the Company's underlying operational performance of cash
flow and profitability, the effective use and allocation of
resources, and to provide more meaningful comparisons of operating
results. EBITDA is calculated as Net Earnings (Loss) before income
taxes, the most directly comparable measure as presented in the
Company's consolidated statement of earnings, adjusted for
amortization of property, plant and equipment, amortization of
other intangible assets, finance costs, and other interest.
EBITDA – Normalized is a non-GAAP financial measure and the
Company believes EBITDA – Normalized is useful in assessing the
Company's underlying operational performance of cash flow and
profitability, the effective use and allocation of resources, and
to provide more meaningful comparisons of operating results. EBITDA
– Normalized is calculated as EBITDA (as defined above) adjusted
for foreign exchange gain (loss), foreign exchange gain (loss) on
debt and derivatives, non-cash asset impairments and any other
items, if applicable, that are considered not to be indicative of
underlying operational performance.
All these other items contained in these non-GAAP financial
measures are summarized as follows:
|
Three Months
Ended
|
Twelve Months
Ended
|
|
|
December
31
|
|
December
31
|
|
2021
|
2020
|
2021
|
2020
|
(in millions of
dollars)
|
$
|
$
|
$
|
$
|
Restructuring
|
-
|
8.6
|
-
|
8.6
|
Facility
closure
|
-
|
-
|
-
|
13.8
|
Adjustment for
CEWS
|
16.6
|
-
|
16.6
|
-
|
Other items impacting
Operating Earnings (loss) – Normalized
|
16.6
|
8.6
|
16.6
|
22.4
|
Make-whole
interest
|
-
|
-
|
-
|
9.1
|
Other items impacting
Net Earnings (Loss) – Normalized
|
16.6
|
8.6
|
16.6
|
31.5
|
|
|
|
|
|
Restructuring
|
-
|
8.6
|
-
|
8.6
|
Facility
closure
|
-
|
-
|
-
|
2.1
|
Adjustment for
CEWS
|
16.6
|
-
|
16.6
|
-
|
Other
items
|
16.6
|
8.6
|
16.6
|
10.7
|
Asset impairment
provision, net of reversals
|
0.7
|
4.4
|
2.4
|
16.1
|
Other items and asset
impairments impacting EBITDA – Normalized
|
17.3
|
13.0
|
19.0
|
26.8
|
During Q4 2021, a normalizing item related to an adjustment for
CEWS impacted the Mobility segment by $13.7
million and the Industrial segment by $2.9 million. The adjustment for CEWS is a
provision recorded as a result of the subsidy program coming to an
end. The Company is reviewing its claim filings to ensure the
accuracy of the claims. CEWS was a subsidy program in Canada to assist companies in response to
COVID-19 which came to an end in October
2021.
Normalizing items for asset impairment provisions adjusted
EBITDA and impacted the Mobility segment by $0.7 million for the quarter and $2.4 million for the full year of 2021 (Q4 2020 –
$4.4 million and $16.1 million for the full year of 2020).
During Q4 2020, a normalizing item related to "restructuring"
adjusted the Mobility segment by $8.6
million. The restructuring was to improve operational
efficiencies, primarily in Europe,
and not in response to COVID-19.
During Q3 2020, a normalizing item of $13.8 million related to the closing of a
facility impacted the Mobility segment's earnings. The closure of
this North American facility was due to operational issues and was
not in response to COVID-19. For EBITDA - Normalized the impairment
of assets is included in its definition and therefore $11.7 million of the $13.8
million is the impairment portion for the closure of the
facility.
During Q2 2020, a normalizing item of $9.1 million related to "make-whole interest" for
the early prepayment of the 2021 Notes impacted net earnings. This
was to improve the Company's financial flexibility in an uncertain
environment.
All normalized non-GAAP financial measures areas reconciled as
follows:
|
Three Months
Ended
|
Twelve Months
Ended
|
December
31
|
December
31
|
(in millions of
dollars)
|
2021
|
2020
|
+/-
|
+/-
|
2021
|
2020
|
+/-
|
+/-
|
$
|
$
|
$
|
%
|
$
|
$
|
$
|
%
|
|
|
|
|
|
|
|
|
|
Operating Earnings
(Loss) – Normalized
|
Operating Earnings
(Loss)
|
70.1
|
155.4
|
(85.3)
|
(54.9%)
|
601.2
|
424.2
|
177.0
|
41.7%
|
Foreign exchange
(gain) loss
|
(5.6)
|
12.4
|
(18.0)
|
|
(12.4)
|
11.4
|
(23.8)
|
|
Other
items
|
16.6
|
8.6
|
8.0
|
|
16.6
|
22.4
|
(5.8)
|
|
Operating Earnings
(Loss) – Normalized
|
81.1
|
176.4
|
(95.3)
|
(54.0%)
|
605.4
|
458.0
|
147.4
|
32.2%
|
|
|
|
|
|
|
|
|
|
Net Earnings
(Loss) – Normalized
|
Net Earnings
(Loss)
|
50.2
|
113.1
|
(62.9)
|
(55.6%)
|
420.6
|
279.1
|
141.5
|
50.7%
|
Foreign exchange
(gain) loss
|
(5.6)
|
12.4
|
(18.0)
|
|
(12.4)
|
11.4
|
(23.8)
|
|
Foreign exchange
(gain) loss on debt and derivatives
|
(0.1)
|
-
|
(0.1)
|
|
6.2
|
4.6
|
1.6
|
|
Other
items
|
16.6
|
8.6
|
8.0
|
|
16.6
|
31.5
|
(14.9)
|
|
Tax impact
|
(2.1)
|
(5.0)
|
2.9
|
|
(2.6)
|
(12.0)
|
9.4
|
|
Net Earnings (Loss) –
Normalized
|
59.0
|
129.1
|
(70.1)
|
(54.3%)
|
428.4
|
314.6
|
113.8
|
36.2%
|
|
|
|
|
|
|
|
|
|
Net Earnings
(Loss) per Share – Diluted – Normalized
|
Net Earnings (Loss)
per Share – Diluted
|
0.77
|
1.73
|
(0.96)
|
(55.5%)
|
6.41
|
4.27
|
2.14
|
50.1%
|
Foreign exchange
(gain) loss
|
(0.09)
|
0.19
|
(0.28)
|
|
(0.19)
|
0.17
|
(0.36)
|
|
Foreign exchange
(gain) loss on debt and derivatives
|
-
|
-
|
-
|
|
0.10
|
0.07
|
0.03
|
|
Other
items
|
0.25
|
0.13
|
0.12
|
|
0.25
|
0.48
|
(0.23)
|
|
Tax impact
|
(0.03)
|
(0.08)
|
0.05
|
|
(0.04)
|
(0.18)
|
0.14
|
|
Net Earnings (Loss)
per Share – Diluted – Normalized
|
0.90
|
1.97
|
(1.07)
|
(54.3%)
|
6.53
|
4.81
|
1.72
|
35.8%
|
|
|
|
|
|
|
|
|
|
EBITDA and EBITDA
– Normalized
|
Net Earnings (Loss)
before income taxes
|
62.5
|
148.3
|
(85.8)
|
(57.9%)
|
562.2
|
374.4
|
187.8
|
50.2%
|
Amortization of
property, plant and equipment
|
96.0
|
108.1
|
(12.1)
|
|
397.1
|
406.2
|
(9.1)
|
|
Amortization of other
intangible assets
|
14.8
|
15.8
|
(1.0)
|
|
51.6
|
48.4
|
3.2
|
|
Finance
costs
|
3.9
|
6.0
|
(2.1)
|
|
18.4
|
44.1
|
(25.7)
|
|
Other
interest
|
0.8
|
0.9
|
(0.1)
|
|
3.3
|
3.9
|
(0.6)
|
|
EBITDA
|
178.0
|
279.1
|
(101.1)
|
(36.2%)
|
1,032.6
|
877.0
|
155.6
|
17.7%
|
Foreign exchange
(gain) loss
|
(5.6)
|
12.4
|
(18.0)
|
|
(12.4)
|
11.4
|
(23.8)
|
|
Foreign exchange
(gain) loss on debt and derivatives
|
(0.1)
|
-
|
(0.1)
|
|
6.2
|
4.6
|
1.6
|
|
Asset impairment
provision, net of reversals
|
0.7
|
4.4
|
(3.7)
|
|
2.4
|
16.1
|
(13.7)
|
|
Other
items
|
16.6
|
8.6
|
8.0
|
|
16.6
|
10.7
|
5.9
|
|
EBITDA –
Normalized
|
189.6
|
304.5
|
(114.9)
|
(37.7%)
|
1,045.4
|
919.8
|
125.6
|
13.7%
|
All normalized non-GAAP financial measures areas impacting
segments reconciled as follows:
|
Three Months
Ended
|
Twelve Months
Ended
|
December
31
|
December
31
|
|
2021
|
2021
|
|
Industrial
|
Mobility
|
Linamar
|
Industrial
|
Mobility
|
Linamar
|
(in millions of
dollars)
|
$
|
$
|
$
|
$
|
$
|
$
|
|
|
|
|
|
|
|
Operating Earnings
(Loss) – Normalized
|
Operating Earnings
(Loss)
|
(11.5)
|
81.6
|
70.1
|
167.9
|
433.3
|
601.2
|
Foreign exchange
(gain) loss
|
4.4
|
(10.0)
|
(5.6)
|
10.1
|
(22.5)
|
(12.4)
|
Other
items
|
2.9
|
13.7
|
16.6
|
2.9
|
13.7
|
16.6
|
Operating Earnings
(Loss) – Normalized
|
(4.2)
|
85.3
|
81.1
|
180.9
|
424.5
|
605.4
|
|
|
|
|
|
|
|
EBITDA –
Normalized
|
EBITDA
|
1.2
|
176.8
|
178.0
|
222.3
|
810.3
|
1,032.6
|
Foreign exchange
(gain) loss
|
4.4
|
(10.0)
|
(5.6)
|
10.1
|
(22.5)
|
(12.4)
|
Foreign exchange
(gain) loss on debt and derivatives
|
(0.1)
|
-
|
(0.1)
|
1.2
|
5.0
|
6.2
|
Asset impairment
provision, net of reversals
|
-
|
0.7
|
0.7
|
-
|
2.4
|
2.4
|
Other
items
|
2.9
|
13.7
|
16.6
|
2.9
|
13.7
|
16.6
|
EBITDA –
Normalized
|
8.4
|
181.2
|
189.6
|
236.5
|
808.9
|
1,045.4
|
|
Three Months
Ended
|
Twelve Months
Ended
|
December
31
|
December
31
|
|
2020
|
2020
|
|
Industrial
|
Mobility
|
Linamar
|
Industrial
|
Mobility
|
Linamar
|
(in millions of
dollars)
|
$
|
$
|
$
|
$
|
$
|
$
|
|
|
|
|
|
|
|
Operating Earnings
(Loss) – Normalized
|
Operating Earnings
(Loss)
|
32.6
|
122.8
|
155.4
|
141.2
|
283.0
|
424.2
|
Foreign exchange
(gain) loss
|
7.3
|
5.1
|
12.4
|
15.3
|
(3.9)
|
11.4
|
Other
items
|
-
|
8.6
|
8.6
|
-
|
22.4
|
22.4
|
Operating Earnings
(Loss) – Normalized
|
39.9
|
136.5
|
176.4
|
156.5
|
301.5
|
458.0
|
|
|
|
|
|
|
|
EBITDA –
Normalized
|
EBITDA
|
49.4
|
229.7
|
279.1
|
206.6
|
670.4
|
877.0
|
Foreign exchange
(gain) loss
|
7.3
|
5.1
|
12.4
|
15.3
|
(3.9)
|
11.4
|
Foreign exchange
(gain) loss on debt and derivatives
|
-
|
-
|
-
|
-
|
4.6
|
4.6
|
Asset impairment
provision, net of reversals
|
-
|
4.4
|
4.4
|
-
|
16.1
|
16.1
|
Other
items
|
-
|
8.6
|
8.6
|
-
|
10.7
|
10.7
|
EBITDA –
Normalized
|
56.7
|
247.8
|
304.5
|
221.9
|
697.9
|
919.8
|
Other Non-GAAP Financial Measures
Free Cash Flow
Free Cash Flow is a non-GAAP
financial measure and the Company believes it is useful in
assessing the Company's ability to generate cash. Free Cash Flow is
calculated as Cash from Operating Activities, the most directly
comparable measure as presented in the Company's consolidated
statements of cash flows, adjusted for payments for purchase of
property, plant and equipment, and proceeds on disposal of
property, plant and equipment.
Liquidity
Liquidity is a non-GAAP financial
measure and the Company believes it is useful in assessing the
Company's ability to satisfy its financial obligations as they come
due. Liquidity is calculated as Cash, the most directly comparable
measure as presented in the Company's consolidated statements of
financial position, adjusted for the Company's available
credit.
All other non-GAAP financial measures are reconciled as
follows:
|
Three Months
Ended
|
Twelve Months
Ended
|
|
December
31
|
December
31
|
|
2021
|
2020
|
2021
|
2020
|
(in millions of
dollars)
|
$
|
$
|
$
|
$
|
|
|
|
|
|
Free Cash
Flow
|
|
|
|
|
Cash generated from
(used in) operating activities
|
217.6
|
489.6
|
908.8
|
1,434.1
|
Payments for purchase
of property, plant and equipment
|
(74.1)
|
(75.8)
|
(243.1)
|
(264.3)
|
Proceeds on disposal
of property, plant and equipment
|
1.2
|
8.5
|
6.9
|
15.2
|
Free Cash
Flow
|
144.7
|
422.3
|
672.6
|
1,185.0
|
|
|
|
|
|
Liquidity
|
|
|
|
|
Cash
|
928.4
|
861.1
|
928.4
|
861.1
|
Available
credit
|
957.5
|
773.4
|
957.5
|
773.4
|
Liquidity
|
1,885.9
|
1,634.5
|
1,885.9
|
1,634.5
|
Supplementary Financial Measures
Content per Vehicle
Content per Vehicle is a
supplementary financial measure and is calculated within the
Mobility segment for the region indicated as automotive sales less
tooling sales divided by vehicle production units.
Forward Looking Information, Risk and Uncertainties
Certain information provided by Linamar in this press release,
MD&A, the consolidated financial statements and other documents
published throughout the year which are not recitation of
historical facts may constitute forward-looking statements. The
words "may", "would", "could", "will", "likely", "estimate",
"believe", "expect", "plan", "forecast" and similar expressions are
intended to identify forward-looking statements. Readers are
cautioned that such statements are only predictions and the actual
events or results may differ materially. In evaluating such
forward-looking statements, readers should specifically consider
the various factors that could cause actual events or results to
differ materially from those indicated by such forward-looking
statements.
Such forward-looking information may involve important risks and
uncertainties that could materially alter results in the future
from those expressed or implied in any forward-looking statements
made by, or on behalf of, Linamar. Some of the factors and risks
and uncertainties that cause results to differ from current
expectations include, but are not limited to, changes in the
competitive environment in which Linamar operates, OEM outsourcing
and insourcing; sources and availability of raw materials; labour
markets and dependence on key personnel; dependence on certain
customers and product programs; technological change in the sectors
in which the Company operates and by Linamar's competitors; delays
in or operational issues with product launches; foreign currency
risk; long-term contracts that are not guaranteed; acquisition and
expansion risk; foreign business risk; public health threats;
cyclicality and seasonality; legal proceedings and insurance
coverage; credit risk; weather; emission standards; capital and
liquidity risk; tax laws; securities laws compliance and corporate
governance standards; fluctuations in interest rates; environmental
emissions and safety regulations; trade and labour disruptions;
world political events; pricing concessions to customers; and
governmental, environmental and regulatory policies.
The foregoing is not an exhaustive list of the factors that may
affect Linamar's forward-looking statements. These and other
factors should be considered carefully and readers should not place
undue reliance on Linamar's forward-looking statements. Linamar
assumes no obligation to update the forward-looking statements, or
to update the reasons why actual results could differ from those
reflected in the forward-looking statements.
Conference Call Information
Q4 2021 Release Information
Linamar will hold
a webcast call on March 9, 2022, at
5:00 p.m. ET to discuss its fourth
quarter results. The event will be simulcast and can be accessed at
the following URL
https://www.linamar.com/event/q4-2021-earnings-call and can
also be navigated to on the company's website. For those who wish
to listen to an audio only call-in option, the numbers for this
call are (877) 668-0168 (North
America) or (825) 312-2386 (International) Conference ID
7163205, with a call-in required 15 minutes prior to the start of
the webcast. The conference call will be chaired by Linda Hasenfratz, Linamar's Executive Chair and
Chief Executive Officer. A copy of the Company's quarterly
financial statements, including the Management's Discussion &
Analysis, will be available on the Company's website after
4:00 p.m. ET on March 9, 2022, and at www.sedar.com by the start
of business on March 10, 2022. The
webcast replay will be available at
https://www.linamar.com/event/q4-2021-earnings-call after the
call. A taped replay of the conference call will also be made
available starting at 8:00 p.m. ET on
March 9, 2022, for seven days. The
number for the replay is (800) 585-8367 or (416) 621-4642,
Passcode: 7163205. In addition, a recording of the call will be
posted at https://www.linamar.com/event/q4-2021-earnings-call.
Q1 2022 Release Information
Linamar will hold
a webcast call on May 11, 2022, at
5:00 p.m. ET to discuss its first
quarter results. The event will be simulcast and can be accessed at
the following URL
https://www.linamar.com/event/q1-2022-earnings-call and can also be
navigated to on the Company's website. For those who wish to listen
to an audio only call-in option, the numbers for this call are
(877) 668-0168 (North America) or
(825) 312-2386 (International) Conference ID 2056809, with a
call-in required 15 minutes prior to the start of the webcast. The
conference call will be chaired by Linda
Hasenfratz, Linamar's Executive Chair and Chief Executive
Officer. A copy of the Company's quarterly financial statements,
including the Management's Discussion & Analysis, will be
available on the Company's website after 4:00 p.m. ET on May 11,
2022, and at www.sedar.com by the start of business on
May 12, 2022. The webcast replay will
be available at https://www.linamar.com/event/q1-2022-earnings-call
after the call. A taped replay of the conference call will also be
made available starting at 8:00 p.m.
ET on May 11, 2022, for seven
days. The number for the replay is (800) 585-8367 or (416)
621-4642, Passcode: 2056809. In addition, a recording of the call
will be posted at
https://www.linamar.com/event/q1-2022-earnings-call.
Linamar Corporation (TSX:LNR) is an advanced manufacturing
company where the intersection of leading-edge technology and deep
manufacturing expertise is creating solutions that power vehicles,
motion, work and lives for the future. The Company is made up of
two operating segments – the Industrial segment and the Mobility
segment, both global leaders in manufacturing solutions and
world-class developers of highly engineered products. The
Industrial segment is comprised of Skyjack and MacDon. Skyjack
manufactures scissor, boom and telehandler lifts for the aerial
work platform industry. MacDon manufactures combine draper headers
and self-propelled windrowers for the agricultural harvesting
industry. The Mobility segment is subdivided into three regional
groups: North America,
Europe and Asia Pacific. Within the Mobility segment, the
regional groups are vertically integrated operations combining
expertise in light metal casting, forging, machining and assembly
for both the global electrified and traditionally powered vehicle
markets. The Mobility segment products are focused on both
components and systems for new energy powertrains, body and
chassis, driveline, engine and transmission systems of these
vehicles. In addition to the recently formed eLIN Product Solutions
Group that focuses on Electrification, McLaren Engineering provides
design, development, and testing services for the Mobility segment.
Linamar has 25,500 employees in 60 manufacturing locations, 11
R&D centres and 25 sales offices in 17 countries in North and
South America, Europe and Asia, which generated sales of $6.5 billion in 2021. For more information about
Linamar Corporation and its industry-leading products and services,
visit www.linamar.com or follow us on our social media
channels.
Guelph, Ontario
March 9, 2022
SOURCE Linamar Corporation