Titan International (TWI) Investor presentation summary

Company overview and strategy

• Global leader in off-highway tires, wheels, and undercarriage equipment, serving agriculture, construction, mining, and consumer markets.

• Operates through three segments: Agriculture, Earthmoving/Construction (EMC), and Consumer.

• One Stop Shop strategy expands product offerings, enhances customer flexibility, and strengthens market leadership.

• Longstanding relationships with blue-chip OEMs and aftermarket customers, leveraging a global manufacturing footprint.

• Focus on innovation, strategic sourcing, and M&A to drive organic and inorganic growth.

Financial performance and outlook

• Jun'26 TTM revenues reached $1.9B, with adjusted EBITDA of $106M and a net debt leverage ratio of 3.9x.

• Gross and adjusted EBITDA margins have significantly improved since the 2019-2020 cyclical trough.

• Targeting $250M midcycle adjusted EBITDA through volume recovery, synergies, and growth initiatives.

• Free cash flow for Jun'26 TTM was ($9M), reflecting ongoing investments and integration.

• Sustained focus on managing working capital and CAPEX to drive future free cash flow.

Segment highlights

• Agriculture: Market leader with innovative products like LSW tires, serving global OEMs and aftermarket; Jun'26 TTM revenue $732M.

• EMC: Premium ITM brand undercarriage solutions, strong OEM and aftermarket presence, Jun'26 TTM revenue $600M.

• Consumer: Carlstar acquisition expanded manufacturing and distribution, leading brands in power sports and outdoor equipment, Jun'26 TTM revenue $535M.