Financial Data and Key Metrics Changes - The company reported net sales of $235 million for Q4 2022, a 2.6% increase year-over-year, driven by target volume levels and increased pricing [42][69] - Adjusted EBITDA for Q4 2022 was $13.3 million, up from $12.9 million in the prior year, with adjusted EBITDA margins at 5.7% compared to 5.6% in Q4 2021 [71][78] - The company experienced a net loss of $32 million for the quarter, compared to a net income of $2.6 million in the prior period, primarily due to inflationary pressures and special items [72][81] Business Line Data and Key Metrics Changes - Vehicle Solutions segment revenues increased 13% to $142.8 million in Q4 2022, while operating income decreased to $3.7 million due to higher startup costs [73] - Electrical Systems segment revenues rose 23% to $47.1 million, with operating income increasing to $5.4 million, reflecting favorable volume and material cost pass-through [74] - Aftermarket and Accessories segment revenues increased 28% to $34.1 million, with operating income rising to $3.2 million, driven by increased sales volume and pricing [75] Market Data and Key Metrics Changes - The global electric truck market is expected to grow at approximately 30% CAGR from 2023 to 2030, with the company winning new business in this attractive segment [51] - The commercial vehicle aftermarket is projected to grow at a modest 4% in 2023 and beyond, with the company investing in its electric wire harness business [55] - North American Class A truck builds are expected to see slight year-over-year increases, supported by strong demand from top customers [54] Company Strategy and Development Direction - The company is focusing on shifting its revenue mix towards electrification and automation, particularly in the electric vehicle industry, while exiting unprofitable segments [27][64] - A cost reduction program targeting $30 million in savings for 2023 has been initiated, including headcount cuts and process automation [28][34] - The company aims to achieve $1.5 billion in revenue with a 9% adjusted EBITDA margin by 2027, emphasizing a disciplined approach to growth and profitability [68] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in a stronger outlook for the commercial truck market, with improved visibility into the second half of the year [89] - The company anticipates continued modest contributions from the Industrial Automation segment, while expecting significant growth in the Vehicle Solutions segment [39][65] - Management highlighted the importance of focusing on profitable growth areas and managing costs effectively to navigate inflationary pressures [102][106] Other Important Information - The company successfully reduced net debt to $121 million by year-end 2022, exceeding its debt repayment targets [47] - A new e-commerce aftermarket business is nearing launch, aimed at enhancing profitability in the aftermarket segment [50] - The company has secured approximately $150 million in new revenue from new business wins during the full year [48] Q&A Session Summary Question: What is the outlook for the commercial truck market? - Management noted an improved outlook with confirmation from top customers and stronger demand for vehicles [89] Question: How is the new Industrial Automation business progressing? - The company is leveraging existing inventory and launching an e-commerce platform to enhance profitability [91] Question: Where do the price increases stand in relation to inflationary pressures? - Management confirmed that price realizations are now ahead of costs, fully recovering from previous inflationary impacts [102] Question: What is the status of the company's pipeline? - The pipeline is now dominated by electrification and automation, with a focus on profitable growth areas [105] Question: What are the debt repayment expectations for 2023? - Management targets a modest debt repayment of $20 million to $25 million, with plans to generate cash from operations [113]

eve 1.9 Reconciliation of GAAP to Non-GAAP Cash Flow Information Low-cost manufacturing set up for high service, and speed with proprietary digital boards and software The global earth moving vehicle market is expected to increase approximately 4% to 6.15M units in 2023 from 5.92M units in 2022 Beyond 2023, the earth moving vehicle market is expected to grow in the 4-5% range • We expect our legacy business growth rates to be in line with this outlook NA Medium Duty Truck Build ACT Research is forecasting 2 ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-K ☑ Annual Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 or ☐ Transition report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the fiscal year ended December 31, 2022 COMMERCIAL VEHICLE GROUP, INC. (Exact name of Registrant as specified in its charter) Delaware 41-1990662 (State of Incorporation) (I.R.S. Employer Identification No.) 7800 Walton Parkway ...

Commercial Vehicle Group, Inc. (NASDAQ:CVGI) Q3 2022 Results Conference Call November 3, 2022 10:00 AM ET Company Participants Andy Cheung - EVP & CFO Harold Bevis - President & CEO Conference Call Participants John Franzreb - Sidoti Operator Good morning, ladies and gentlemen, and welcome to CVG's Third Quarter 2022 Earnings Conference Call. During today's presentation, all parties will be on listen-only mode. Following the presentation, the conference will be opened for questions with instructions to foll ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to | --- | --- | --- | |-------------------------------------------------------------------------------------|------------------------------------- ...

Investor Overview September 2022 1 Forward Looking Statements and Non-GAAP Financial Measures CVG These slides contain forward-looking statements that are subject to risks and uncertainties. These statements often include words such as "believe", "anticipate", "plan", "expect", "intend", "vill", "should", "oould", "project", "continue", "likely", and similar expressions. In particular, this document may contain forward-looking statements about the Company's expectations for future periods with respect to it ...

Commercial Vehicle Group, Inc. (NASDAQ:CVGI) Q2 2022 Earnings Conference Call August 5, 2022 10:00 AM ET Company Participants Chris Bohnert - CFO Harold Bevis - President and CEO Conference Call Participants John Franzreb - Sidoti Chris Howe - Barrington Research Barry Haimes - Sage Asset Management Operator Good morning, ladies and gentlemen, and welcome to the Commercial Vehicle Group, Inc. Second Quarter 2022 Earnings Call Conference Call. [Operator Instructions] This call is being recorded on Friday, Au ...

PART I FINANCIAL INFORMATION [ITEM 1 – FINANCIAL STATEMENTS](index=3&type=section&id=ITEM%201%20%E2%80%93%20FINANCIAL%20STATEMENTS) Presents unaudited condensed consolidated financial statements for Q2 2022 and 2021, covering operations, balance sheets, cash flows, and detailed notes [Condensed Consolidated Statements of Operations](index=3&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations) Q2 2022 revenues decreased to **$250.8 million** from **$257.9 million**, with net income falling to **$2.5 million** from **$5.1 million** Condensed Consolidated Statements of Operations (in thousands) | Metric | Three Months Ended June 30, 2022 | Three Months Ended June 30, 2021 | Six Months Ended June 30, 2022 | Six Months Ended June 30, 2021 | | :--- | :--- | :--- | :--- | :--- | | **Revenues** | **$250,849** | **$257,941** | **$495,223** | **$503,063** | | Gross profit | $21,879 | $34,368 | $47,262 | $65,489 | | Operating income | $6,227 | $16,329 | $14,611 | $31,732 | | **Net income** | **$2,485** | **$5,095** | **$6,467** | **$13,585** | | **Diluted EPS** | **$0.08** | **$0.16** | **$0.20** | **$0.42** | [Condensed Consolidated Statements of Comprehensive Income (Loss)](index=4&type=section&id=Condensed%20Consolidated%20Statements%20of%20Comprehensive%20Income%20(Loss)) Q2 2022 saw a comprehensive loss of **$2.2 million**, a significant shift from **$6.9 million** comprehensive income in Q2 2021 Condensed Consolidated Statements of Comprehensive Income (Loss) (in thousands) | Metric | Three Months Ended June 30, 2022 | Three Months Ended June 30, 2021 | Six Months Ended June 30, 2022 | Six Months Ended June 30, 2021 | | :--- | :--- | :--- | :--- | :--- | | Net income | $2,485 | $5,095 | $6,467 | $13,585 | | Other comprehensive income (loss) | $(4,688) | $1,798 | $(1,576) | $(414) | | **Comprehensive income (loss)** | **$(2,203)** | **$6,893** | **$4,891** | **$13,171** | [Condensed Consolidated Balance Sheets](index=5&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) Total assets increased to **$556.6 million** as of June 30, 2022, with total liabilities rising to **$423.1 million** and stockholders' equity reaching **$133.5 million** Condensed Consolidated Balance Sheets (in thousands) | Metric | June 30, 2022 | December 31, 2021 | | :--- | :--- | :--- | | Total current assets | $416,903 | $370,676 | | **Total assets** | **$556,572** | **$507,693** | | Total current liabilities | $192,537 | $162,130 | | **Total liabilities** | **$423,118** | **$381,040** | | **Total stockholders' equity** | **$133,454** | **$126,653** | [Condensed Consolidated Statements of Cash Flows](index=6&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) Net cash used in operating activities improved to **$4.5 million** for H1 2022, with **$8.7 million** from financing and **$8.6 million** used in investing Six Months Ended Cash Flows (in thousands) | Metric | June 30, 2022 | June 30, 2021 | | :--- | :--- | :--- | | Net cash used in operating activities | $(4,507) | $(24,812) | | Net cash used in investing activities | $(8,616) | $(6,909) | | Net cash provided by financing activities | $8,659 | $22,241 | | **Net decrease in cash** | **$(6,458)** | **$(9,532)** | [Notes to Condensed Consolidated Financial Statements](index=8&type=section&id=Notes%20to%20Condensed%20Consolidated%20Financial%20Statements) Details strategic reorganization into four segments, credit facility amendment, revenue by product line, fair value, lease obligations, and restructuring initiatives - The company reorganized into **four new segments** in Q4 2021: Vehicle Solutions, Warehouse Automation, Electrical Systems, and Aftermarket & Accessories[93](index=93&type=chunk) - The Credit Agreement was amended on May 12, 2022, increasing the term loan to **$175 million** and revolving credit to **$150 million**, extending maturity to May 12, 2027[33](index=33&type=chunk)[35](index=35&type=chunk) - A restructuring program approved in November 2021 aims to align cost structure and support margin expansion, with expected costs between **$4.6 million** and **$6.0 million**[84](index=84&type=chunk) Revenues by Segment (Three Months Ended June 30, in thousands) | Segment | 2022 | 2021 | | :--- | :--- | :--- | | Vehicle Solutions | $142,785 | $130,230 | | Warehouse Automation | $28,547 | $54,324 | | Electrical Systems | $47,345 | $44,195 | | Aftermarket & Accessories | $32,172 | $29,192 | | **Total** | **$250,849** | **$257,941** | [ITEM 2 – MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS](index=25&type=section&id=ITEM%202%20%E2%80%93%20MANAGEMENT%27S%20DISCUSSION%20AND%20ANALYSIS%20OF%20FINANCIAL%20CONDITION%20AND%20RESULTS%20OF%20OPERATIONS) Q2 2022 revenue declined **2.7%** due to Warehouse Automation, with gross profit margin contracting to **8.7%** amid inflation and supply chain issues, while liquidity reached **$146.3 million** - Senior secured credit facilities were amended to **$325 million** (including **$175M Term Loan A** and **$150M Revolver**), extending maturity to May 12, 2027, for capital flexibility[106](index=106&type=chunk)[108](index=108&type=chunk) - Operations faced impacts from the temporary shutdown of its Ukraine facility and COVID-19 related shutdowns at its Shanghai plant[109](index=109&type=chunk)[111](index=111&type=chunk) Q2 2022 vs Q2 2021 Consolidated Results (in thousands) | Metric | Q2 2022 | Q2 2021 | $ Change | % Change | | :--- | :--- | :--- | :--- | :--- | | Revenues | $250,849 | $257,941 | $(7,092) | (2.7)% | | Gross profit | $21,879 | $34,368 | $(12,489) | (36.3)% | | Net income | $2,485 | $5,095 | $(2,610) | (51.2)% | - Total liquidity as of June 30, 2022, was **$146.3 million**, comprising **$28.5 million** in cash and **$117.8 million** available under the revolving credit facility[176](index=176&type=chunk) [ITEM 3 – QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK](index=34&type=section&id=ITEM%203%20%E2%80%93%20QUANTITATIVE%20AND%20QUALITATIVE%20DISCLOSURES%20ABOUT%20MARKET%20RISK) No material changes in market risk exposure, including interest rate, foreign currency, and commodity price risks, were reported since the 2021 Form 10-K - No material changes in market risk exposure were reported as of June 30, 2022, compared to the 2021 Form 10-K disclosures[189](index=189&type=chunk) [ITEM 4 – CONTROLS AND PROCEDURES](index=34&type=section&id=ITEM%204%20%E2%80%93%20CONTROLS%20AND%20PROCEDURES) Disclosure controls and procedures were effective as of June 30, 2022, with no material changes in internal control over financial reporting during the quarter - Disclosure controls and procedures were deemed effective by the principal executive and financial officers as of June 30, 2022[191](index=191&type=chunk) - No material changes in internal control over financial reporting occurred during the quarter ended June 30, 2022[192](index=192&type=chunk) PART II OTHER INFORMATION [ITEM 1 Legal Proceedings](index=36&type=section&id=ITEM%201%20Legal%20Proceedings) The company is involved in various legal proceedings, but management anticipates no material adverse impact on its financial position or results - The company is involved in various legal proceedings incidental to its business but does not expect the outcomes to have a material adverse impact on its financial condition or results[196](index=196&type=chunk) [ITEM 1A Risk Factors](index=36&type=section&id=ITEM%201A%20Risk%20Factors) Refers to risk factors detailed in the 2021 Form 10-K and other SEC filings, which could materially affect business and financial results - Readers are referred to the 2021 Form 10-K and subsequent SEC filings for comprehensive risk factor disclosures[197](index=197&type=chunk) [ITEM 2 Unregistered Sales of Equity Securities and Use of Proceeds](index=36&type=section&id=ITEM%202%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) No unregistered sales of equity securities occurred during the six months ended June 30, 2022 - No unregistered equity securities were sold during the six months ended June 30, 2022[198](index=198&type=chunk) [ITEM 6 Exhibits](index=37&type=section&id=ITEM%206%20Exhibits) Lists exhibits filed with the Form 10-Q, including the Second Amendment to the Credit Agreement and CEO/CFO certifications - Filed exhibits include the Second Amendment to the Credit Agreement and CEO/CFO certifications[204](index=204&type=chunk)

Stifel Cross Sector Insight Conference 1 June 7,2022 Harold Bevis – President & Chief Executive Officer Chris Bohnert- Chief Financial Officer Forward Looking Statementsand Non-GAAP Financial Measures These slides contain forward-looking statements that are subject to risks and uncertainties. These statements often include words such as "believe", "anticipate", "plan", "expect","intend","will", "should", "could", "would", "project","continue", "likely", and similar expressions. In particular, this presentat ...

Sidoti Micro Cap Virtual Conference Harold Bevis – President & Chief Executive Officer Chris Bohnert- Chief Financial Officer May 11, 2022 1 Forward Looking Statements and Non-GAAP Financial Measures These slides contain forward-looking statements that are subject to risks and uncertainties. These statements often include words such as "believe", "anticipate", "plan", "expect", "intend", "will", "should", "could", "would", "project", "continue", "likely", and similar expressions. In particular, this press r ...