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September 02, 2015 2:49 AM ET

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Company Overview of Affinia Group Intermediate Holdings Inc.

Company Overview

Affinia Group Intermediate Holdings Inc. designs, manufactures, markets, and distributes industrial grade filtration products and services, and replacement products in North America, Europe, South America, and Asia. The company operates in two segments, Filtration and Affinia South America. The Filtration segment offers oil, air, fuel, hydraulic, and other filters for heavy-duty and on-and-off-highway applications, such as on-highway trucks, residential and non-residential construction equipment, severe service vehicles, medium-duty vehicles, and marine applications, as well as for agricultural, energy, mining, forestry, and industrial equipment; and light commercial, passenger vehicle, spor...

1 Wix Way

Gastonia, MI 28054

United States

Founded in 2004

5,543 Employees

Phone:

734-827-5400

Key Executives for Affinia Group Intermediate Holdings Inc.

Chief Executive Officer and President
Age: 53
Chief Financial Officer, Senior Vice President and Treasurer
Age: 47
President of Affinia Group - South America
Age: 63
President of Global Chassis Group
Age: 59
Senior Vice President, General Counsel and Secretary
Age: 59
Compensation as of Fiscal Year 2015.

Affinia Group Intermediate Holdings Inc. Key Developments

Affinia Group Intermediate Holdings Inc. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2015

Affinia Group Intermediate Holdings Inc. reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2015. The company reported net sales of $242 million for the second quarter of 2015 compared to $266 million in the second quarter of 2014, a decrease of $24 million or 9.0%. On a currency adjusted basis, net sales for the second quarter of 2015 declined by 1.5% or $4 million over the same period in 2014. Adjusted EBITDA was $31 million in the second quarter of 2015 compared to $41 million in the same period in the prior year, a decrease of 24.4%. Free cash flow, which is operating cash flow less capital expenditures, was $14 million in the second quarter of 2015, compared to $21 million in the second quarter of 2014. Operating profit for the second quarter of 2015 was $23 million, a $13 million decrease compared to the prior year. Net income attributable to the company was zero in the second quarter of 2015 compared to a net income of $35 million in the second quarter of 2014. The decrease in net income was driven by the gain on the sale of the Chassis group in the second quarter of 2014, higher income tax expense within discontinued operations in the second quarter of 2015 as a result of the recognition of capital gains tax upon the signing of the agreement to sell the Brazilian operations of the ASA segment, and lower earnings in the Filtration segment. Income from continuing operations before income tax provision, and non-controlling interest was $9 million compared to $19 million a year ago. Net income from continuing operations was $4 million compared to $9 million a year ago. For the six months, net sales were $465 million compared to $509 million a year ago. Operating profit was $43 million compared to $55 million a year ago. Income from continuing operations before income tax provision, and non-controlling interest was $16 million compared to $15 million a year ago. Net income from continuing operations was $7 million compared to $3 million a year ago. Net income attributable to the company was $5 million compared to $34 million a year ago. Net cash provided by operating activities was $29 million compared to $6 million a year ago. Addition to property, plant and equipment was $11 million compared to $11 million a year ago.

Affinia Group Intermediate Holdings Inc., Q2 2015 Earnings Call, Aug 06, 2015

Affinia Group Intermediate Holdings Inc., Q2 2015 Earnings Call, Aug 06, 2015

Affinia Group Intermediate Holdings Inc. Announces Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2015

Affinia Group Intermediate Holdings Inc. announced unaudited consolidated earnings results for the first quarter ended March 31, 2015. For the quarter, the company reported net sales of $303 million compared to $331 million in the first quarter of 2014, a decrease of $28 million or 8.5%. On a currency adjusted basis, net sales improved by 5.7% or $19 million over the same period in 2014. Adjusted EBITDA was $32 million compared to $36 million in the same period in the prior year, a decrease of 11.1%. Free cash flow, which is operating cash flow less capital expenditures, was $4 million, an improvement of $30 million over the first quarter of 2014. Operating profit was $24 million, a $1 million decrease compared to the prior year. Adjusted EBITDA was $32 million, a $4 million decrease compared to the corresponding period in the prior year. Net income was $5 million compared to a net loss of $1 million in the first quarter of 2014. The improvement in net income was driven by $7 million of Venezuela devaluation charges and $5 million of restructuring costs in the first quarter of 2014 and lower interest expense as a result of debt repayments during 2014, partially offset by higher income tax expense. Income from continuing operations before income tax provision, and noncontrolling interest was $11 million against $2 million a year ago. Net income from continuing operations was $5 million against loss of $2 million a year ago. Net cash provided by operating activities was $9 million against net cash used in operating activities of $21 million a year ago. Additions to property, plant and equipment was $5 million against $5 million a year ago. Net debt was $767 million.

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