MSA SAFETY INCORPORATED MSA Safety Incorporated
Reconciliation of As Reported Financial Measures to Non-GAAP Financial Measures Constant currency revenue growth (Unaudited)
Consolidated
Three Months Ended June 30, 2021
Firefighter | |||||||
Helmets | Industrial | Portable | Fixed Gas | ||||
Breathing | and | Fall | Non-Core | ||||
Protective | Head | Gas | and Flame | Net Sales | |||
Apparatus | Apparel | Protection | Detection | Detection | Protection Core Sales | Sales |
GAAP reported sales change
Plus: Currency translation effects
Constant currency sales change
1 % | 32 % | 25 % | 37 % | (1)% | 42 % | 15 % | (26)% | 9 % | ||
(3)% | (4)% | (5)% | (5)% | (3)% | (8)% | (3)% | (4)% | (4)% | ||
(2)% | 28 % | 20 % | 32 % | (4)% | 34 % | 12 % | (30)% | 5 % |
Six Months Ended June 30, 2021
Firefighter | |||||||
Helmets | Industrial | Portable | Fixed Gas | ||||
Breathing | and | Fall | Non-Core | ||||
Protective | Head | Gas | and Flame | Net Sales | |||
Apparatus | Apparel | Protection | Detection | Detection | Protection Core Sales | Sales |
GAAP reported sales change
Plus: Currency translation effects
Constant currency sales change
(4)% | 20 % | 7 % | 10 % | (8)% | 16 % | 4 % | (26)% | (1)% | ||
(2)% | (3)% | (1)% | (3)% | (2)% | (5)% | (3)% | (3)% | (3)% | ||
(6)% | 17 % | 6 % | 7 % | (10)% | 11 % | 1 % | (29)% | (4)% |
Management believes that constant currency revenue growth is a useful metric for investors, as foreign currency translation can have a material impact on revenue growth trends. Constant currency revenue growth highlights ongoing business performance excluding the impact of fluctuating foreign currencies, which is outside of management's control. There can be no assurances that MSA's definition of constant currency revenue growth is consistent with that of other companies. As such, management believes that it is appropriate to consider revenue growth determined on a GAAP basis in addition to this non-GAAP financial measure.
MSA Safety Incorporated
Reconciliation of As Reported Financial Measures to Non-GAAP Financial Measures Constant currency revenue growth (Unaudited)
Americas Segment
Three Months Ended June 30, 2021
Firefighter | |||||||||||
Helmets | Industrial | Portable | Fixed Gas | ||||||||
Breathing | and | Fall | Core | Non-Core | |||||||
Protective | Head | Gas | and Flame | Net Sales | |||||||
Apparatus | Apparel | Protection | Detection | Detection | Protection | Sales | Sales | ||||
GAAP reported | 2 % | 8 % | 41 % | 48 % | 1 % | 55 % | 16 % | (39)% | 7 % | ||
sales change | |||||||||||
Plus: Currency | - % | - % | (3)% | (2)% | (1)% | (3)% | (1)% | (1)% | (1)% | ||
translation effects | |||||||||||
Constant | |||||||||||
currency sales | 2 % | 8 % | 38 % | 46 % | - % | 52 % | 15 % | (40)% | 6 % | ||
change |
Six Months Ended June 30, 2021
Firefighter | |||||||||||
Helmets | Industrial | Portable | Fixed Gas | ||||||||
Breathing | and | Fall | Core | Non-Core | |||||||
Protective | Head | Gas | and Flame | Net Sales | |||||||
Apparatus | Apparel | Protection | Detection | Detection | Protection | Sales | Sales | ||||
GAAP reported | (3)% | 4 % | 12 % | 14 % | (6)% | 15 % | 3 % | (33)% | (2)% | ||
sales change | |||||||||||
Plus: Currency | - % | - % | 1 % | - % | - % | (1)% | - % | - % | - % | ||
translation effects | |||||||||||
Constant | |||||||||||
currency sales | (3)% | 4 % | 13 % | 14 % | (6)% | 14 % | 3 % | (33)% | (2)% | ||
change |
Management believes that constant currency revenue growth is a useful metric for investors, as foreign currency translation can have a material impact on revenue growth trends. Constant currency revenue growth highlights ongoing business performance excluding the impact of fluctuating foreign currencies, which is outside of management's control. There can be no assurances that MSA's definition of constant currency revenue growth is consistent with that of other companies. As such, management believes that it is appropriate to consider revenue growth determined on a GAAP basis in addition to this non-GAAP financial measure.
MSA Safety Incorporated
Reconciliation of As Reported Financial Measures to Non-GAAP Financial Measures Constant currency revenue growth (Unaudited)
International Segment
Three Months Ended June 30, 2021
Firefighter | |||||||
Helmets | Industrial | Portable | Fixed Gas | ||||
Breathing | and | Fall | Non-Core | ||||
Protective | Head | Gas | and Flame | Net Sales | |||
Apparatus | Apparel | Protection | Detection | Detection | Protection Core Sales | Sales |
GAAP reported sales change
Plus: Currency translation effects
Constant currency sales change
(1)% | 153 % | (8)% | 20 % | (2)% | 28 % | 14 % | - % | 12 % | ||
(8)% | (24)% | (7)% | (9)% | (7)% | (13)% | (9)% | (9)% | (9)% | ||
(9)% | 129 % | (15)% | 11 % | (9)% | 15 % | 5 % | (9)% | 3 % |
Six Months Ended June 30, 2021
Firefighter | |||||||
Helmets | Industrial | Portable | Fixed Gas | ||||
Breathing | and | Fall | Non-Core | ||||
Protective | Head | Gas | and Flame | Net Sales | |||
Apparatus | Apparel | Protection | Detection | Detection | Protection Core Sales | Sales |
GAAP reported sales change
Plus: Currency translation effects
Constant currency sales change
(5)% | 98 % | (5)% | 2 % | (10)% | 18 % | 5 % | (14)% | 2 % | ||
(8)% | (19)% | (8)% | (7)% | (5)% | (11)% | (8)% | (7)% | (8)% | ||
(13)% | 79 % | (13)% | (5)% | (15)% | 7 % | (3)% | (21)% | (6)% |
Management believes that constant currency revenue growth is a useful metric for investors, as foreign currency translation can have a material impact on revenue growth trends. Constant currency revenue growth highlights ongoing business performance excluding the impact of fluctuating foreign currencies, which is outside of management's control. There can be no assurances that MSA's definition of constant currency revenue growth is consistent with that of other companies. As such, management believes that it is appropriate to consider revenue growth determined on a GAAP basis in addition to this non-GAAP financial measure.
MSA Safety Incorporated
Reconciliation of As Reported Financial Measures to Non-GAAP Financial Measures Constant currency revenue growth (Unaudited)
Consolidated
Three Months Ended June 30, 2021
Firefighter | Fixed Gas | Industrial | Non-Core | |||
and Flame | Core Sales | Net Sales | ||||
Safety | Detection | Core PPE | Sales | |||
GAAP reported | 12 % | (1)% | 34 % | 15 % | (26)% | 9 % |
sales change | ||||||
Plus: Currency | (3)% | (3)% | (6)% | (3)% | (4)% | (4)% |
translation effects | ||||||
Constant | ||||||
currency sales | 9 % | (4)% | 28 % | 12 % | (30)% | 5 % |
change |
Six Months Ended June 30, 2021
Firefighter | Fixed Gas | Industrial | Non-Core | |||
and Flame | Core Sales | Net Sales | ||||
Safety | Detection | Core PPE | Sales | |||
GAAP reported | 5 % | (8)% | 11 % | 4 % | (26)% | (1)% |
sales change | ||||||
Plus: Currency | (3)% | (2)% | (3)% | (3)% | (3)% | (3)% |
translation effects | ||||||
Constant | ||||||
currency sales | 2 % | (10)% | 8 % | 1 % | (29)% | (4)% |
change |
Management believes that constant currency revenue growth is a useful metric for investors, as foreign currency translation can have a material impact on revenue growth trends. Constant currency revenue growth highlights ongoing business performance excluding the impact of fluctuating foreign currencies, which is outside of management's control. There can be no assurances that MSA's definition of constant currency revenue growth is consistent with that of other companies. As such, management believes that it is appropriate to consider revenue growth determined on a GAAP basis in addition to this non-GAAP financial measure.
MSA Safety Incorporated Segment Information (Unaudited)
(In thousands, except percentage amounts)
Three Months Ended June 30, 2021 Sales to external customers Operating income
Operating margin % Restructuring charges Currency exchange losses, net Product liability expense Acquisition related costs Adjusted operating income (loss) Adjusted operating margin % Depreciation and amortization Adjusted EBITDA
Adjusted EBITDA %
Three Months Ended June 30, 2020 Sales to external customers Operating income
Operating margin % Restructuring charges Currency exchange losses, net Product liability expense Acquisition related costs Adjusted operating income (loss) Adjusted operating margin % Depreciation and amortization Adjusted EBITDA
Adjusted EBITDA %
Americas | International | Corporate | Consolidated | ||||
$ 217,707 | $ 123,582 | $ | - | $ 341,289 | |||
35,050 | |||||||
10.3 % | |||||||
7,078 | |||||||
1,640 | |||||||
11,751 | |||||||
3,168 | |||||||
49,238 | 20,440 | (10,991) | 58,687 | ||||
22.6 % | 16.5 % | 17.2 % | |||||
11,584 | |||||||
57,137 | 24,020 | (10,886) | 70,271 | ||||
26.2 % | 19.4 % | 20.6 % |
$ 204,231 | $ 110,207 | $ | - | $ 314,438 |
48,294 | ||||
15.4 % | ||||
8,865 | ||||
793 | ||||
851 | ||||
64 | ||||
49,003 | 17,402 | (7,538) | 58,867 | |
24.0 % | 15.8 % | 18.7 % | ||
9,786 | ||||
55,620 | 20,474 | (7,441) | 68,653 | |
27.2 % | 18.6 % | 21.8 % |
The Americas segment is comprised of our operations in North America and Latin America geographies. The International segment is comprised of our operations in all geographies outside of the Americas. Certain global expenses are allocated to each segment in a manner consistent with where the benefits from the expenses are derived.
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MSA Safety Inc. published this content on 28 July 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 28 July 2021 22:56:07 UTC.
