Enhanced Investments - Financial Portal

Published: 2021-11-02 17:00:32 ET

EX-99 2 hydataschedule93021ex99.htm EX-99 Document

EXHIBIT 99


Hyster-Yale Materials Handling, Inc.
(in millions, except percentage data)

	Backlog (in thousands)
	Q1	Q2	Q3	Q4	FY
2020	37.3	31.5	33.6	40.6	40.6
2021	60.7	84.9	98.8

	Unit Shipments (in thousands)
	Q1	Q2	Q3	Q4	FY
2020	23.3	20.1	20.6	21.5	85.5
2021	22.3	22.7	23.2

	Revenues - Americas						Revenues - Americas - % change yr. over yr.
	Q1	Q2	Q3	Q4	FY		Q1		Q2		Q3		Q4		FY
2020	550.7	454.8	426.9	458.8	1,891.2	2020	3.0	%	-15.4	%	-15.6	%	-15.9	%	-10.9	%
2021	459.7	479.1	494.3			2021	-16.5	%	5.3	%	15.8	%

	Revenues - EMEA						Revenues - EMEA - % change yr. over yr.
	Q1	Q2	Q3	Q4	FY		Q1		Q2		Q3		Q4		FY
2020	152.1	120.1	143.8	172.6	588.6	2020	-20.0	%	-14.6	%	-11.1	%	-12.5	%	-21.6	%
2021	170.7	175.1	153.4			2021	12.2	%	45.8	%	6.7	%

	Revenues - JAPIC						Revenues - JAPIC - % change yr. over yr.
	Q1	Q2	Q3	Q4	FY		Q1		Q2		Q3		Q4		FY
2020	44.6	48.0	48.0	52.5	193.1	2020	-29.7	%	-34.2	%	-17.0	%	-5.6	%	-22.7	%
2021	60.5	65.0	56.1			2021	35.7	%	35.4	%	16.9	%

	Revenues - Bolzoni						Revenues - Bolzoni - % change yr. over yr.
	Q1	Q2	Q3	Q4	FY		Q1		Q2		Q3		Q4		FY
2020	87.9	64.2	63.3	68.3	283.7	2020	-4.2	%	-29.3	%	-16.5	%	-21.5	%	-17.9	%
2021	79.5	84.8	90.0			2021	-9.6	%	32.1	%	42.2	%

	Revenues - Nuvera						Revenues - Nuvera - % change yr. over yr.
	Q1	Q2	Q3	Q4	FY		Q1		Q2		Q3		Q4		FY
2020	1.4	0.7	0.7	1.1	3.9	2020	n.m.		n.m.		n.m.		n.m.		n.m.
2021	—	0.3	0.2			2021	n.m.		n.m.		n.m.

	Revenues - Consolidated						Revenues - Consolidated - % change yr. over yr.
	Q1	Q2	Q3	Q4	FY		Q1		Q2		Q3		Q4		FY
2020	785.7	654.4	652.4	719.6	2,812.1	2020	-5.9	%	-23.6	%	-14.8	%	-13.8	%	-14.6	%
2021	732.2	765.6	748.2			2021	-6.8	%	17.0	%	14.7	%

	Gross Profit (1)						Gross Profit % (1)
	Q1	Q2	Q3	Q4	FY		Q1		Q2		Q3		Q4		FY
2020	136.7	103.6	103.4	121.7	465.4	2020	17.4	%	15.8	%	15.8	%	16.9	%	16.5	%
2021	118.4	116.4	65.1			2021	16.2	%	15.2	%	8.7	%

	Operating Expenses (2)						Operating Expenses as a % of Revenue (2)
	Q1	Q2	Q3	Q4	FY		Q1		Q2		Q3		Q4		FY
2020	116.5	94.9	96.1	108.0	415.5	2020	14.8	%	14.5	%	14.7	%	15.0	%	14.8	%
2021	115.3	110.5	119.4			2021	15.7	%	14.4	%	16.0	%

	Operating Profit (Loss) (1)(2)						Operating Profit (Loss) % (1)(2)
	Q1	Q2	Q3	Q4	FY		Q1		Q2		Q3		Q4		FY
2020	20.2	8.7	7.3	13.7	49.9	2020	2.6	%	1.3	%	1.1	%	1.9	%	1.8	%
2021	3.1	5.9	(54.3)			2021	0.4	%	0.8	%	-7.3	%


Hyster-Yale Materials Handling, Inc.
(in millions, except percentage data)


	Interest (Income) Expense
	Q1	Q2	Q3	Q4	FY
2020	3.8	3.0	2.7	2.8	12.3
2021	2.7	3.7	4.0

	Other (Income) Expense
	Q1	Q2	Q3	Q4	FY
2020	(3.3)	4.0	(1.8)	(3.5)	(4.6)
2021	(8.1)	2.3	(2.0)

	Income (Loss) Before Taxes						Effective Income Tax Rate (3)
	Q1	Q2	Q3	Q4	FY		Q1		Q2	Q3		Q4		FY
2020	19.7	1.7	6.4	14.4	42.2	2020	20.8	%	n.m.	10.9	%	8.3	%	8.8	%
2021	8.5	(0.1)	(56.3)			2021	28.2	%	n.m.	-36.4	%

	Net Income (Loss) Attributable to Stockholders (3)
	Q1	Q2	Q3	Q4	FY
2020	15.3	3.6	5.1	13.1	37.1
2021	5.6	1.9	(77.2)


	Depreciation and Amortization Expense
	Q1	Q2	Q3	Q4	FY
2020	10.4	10.4	11.0	11.1	42.9
2021	11.7	11.6	11.4

	Net Working Capital (4)
	Q1	Q2	Q3	Q4	FY
2020	595.7	577.4	517.5	493.4	493.4
2021	539.7	645.9	692.4

	Capital Expenditures
	Q1	Q2	Q3	Q4	FY
2020	17.6	12.3	7.3	14.5	51.7
2021	7.7	10.4	11.4

	Net Cash Provided By (Used For) Operating Activities
	Q1	Q2	Q3	Q4	FY
2020	(45.7)	33.7	88.1	90.8	166.9
2021	(47.1)	(53.6)	(91.1)

	Net Cash Provided By (Used For) Investing Activities
	Q1	Q2	Q3	Q4	FY
2020	(17.4)	(5.9)	(6.5)	(13.9)	(43.7)
2021	9.5	(8.7)	(10.9)

	Cash Flow Before Financing Activities (5)
	Q1	Q2	Q3	Q4	FY
2020	(63.1)	27.8	81.6	76.9	123.2
2021	(37.6)	(62.3)	(102.0)


Hyster-Yale Materials Handling, Inc.
(in millions, except percentage data)

	Net Cash Provided By (Used For) Financing Activities
	Q1	Q2	Q3	Q4	FY
2020	53.1	(18.7)	(53.5)	(21.5)	(40.6)
2021	(8.0)	45.5	77.2

	Dividends Paid to Stockholders
	Q1	Q2	Q3	Q4	FY
2020	5.3	5.3	5.4	5.3	21.3
2021	5.3	5.4	5.5

	Total Debt
	Q1	Q2	Q3	Q4	FY
2020	340.1	337.7	297.7	289.2	289.2
2021	285.4	345.7	428.0

	Equity						Return on Equity (6)
	Q1	Q2	Q3	Q4	FY		Q1		Q2		Q3		Q4		FY
2020	542.7	563.7	602.6	651.1	651.1	2020	8.6	%	6.3	%	4.8	%	6.3	%	6.3	%
2021	615.8	630.0	510.2			2021	4.6	%	4.2	%	-9.4	%

(1)	During the third quarter of 2021, Nuvera reduced its inventory by $14.8 million to its estimated net realizable value.
(2)	During the third quarter of 2021, Nuvera recognized a $10.0 million impairment charge of property, plant and equipment.
(3)	During the third quarter of 2021, the Company recognized a valuation allowance of $38.4 million provided against deferred tax assets.
(4)	Net working capital is equal to accounts receivable, net plus inventories, net less accounts payable.
(5)	Cash flow before financing activities is equal to net cash provided by (used for) operating activities plus net cash provided by (used for) investing activities.
(6)	Return on equity is equal to the sum of the previous 4 quarters net income divided by average equity calculated over the last 5 quarters.


Lift Truck Business
(in millions, except percentage data)

	Backlog (in thousands)
	Q1	Q2	Q3	Q4	FY
2020	37.3	31.5	33.6	40.6	40.6
2021	60.7	84.9	98.8

	Unit Shipments (in thousands)
	Q1	Q2	Q3	Q4	FY
2020	23.3	20.1	20.6	21.5	85.5
2021	22.3	22.7	23.2

	Revenues - Americas						Revenues - Americas - % change yr. over yr.
	Q1	Q2	Q3	Q4	FY		Q1		Q2		Q3		Q4		FY
2020	550.7	454.8	426.9	458.8	1,891.2	2020	3.0	%	-15.4	%	-15.6	%	-15.9	%	-10.9	%
2021	459.7	479.1	494.3			2021	-16.5	%	5.3	%	15.8	%

	Revenues - EMEA						Revenues - EMEA - % change yr. over yr.
	Q1	Q2	Q3	Q4	FY		Q1		Q2		Q3		Q4		FY
2020	152.1	120.1	143.8	172.6	588.6	2020	-20.0	%	-40.6	%	-11.1	%	-12.5	%	-21.6	%
2021	170.7	175.1	153.4			2021	12.2	%	45.8	%	6.7	%

	Revenues - JAPIC						Revenues - JAPIC - % change yr. over yr.
	Q1	Q2	Q3	Q4	FY		Q1		Q2		Q3		Q4		FY
2020	44.6	48.0	48.0	52.5	193.1	2020	-29.7	%	-34.2	%	-17.0	%	-5.6	%	-22.7	%
2021	60.5	65.0	56.1			2021	35.7	%	35.4	%	16.9	%

	Revenues - Lift Truck Business						Revenues - Lift Truck Business - % change yr. over yr.
	Q1	Q2	Q3	Q4	FY		Q1		Q2		Q3		Q4		FY
2020	747.4	622.9	618.7	683.9	2,672.9	2020	-5.2	%	-23.4	%	-14.7	%	-14.3	%	-14.4	%
2021	690.9	719.2	703.8			2021	-7.6	%	15.5	%	13.8	%

	Gross Profit						Gross Profit %
	Q1	Q2	Q3	Q4	FY		Q1		Q2		Q3		Q4		FY
2020	123.5	94.8	94.3	112.2	424.8	2020	16.5	%	15.2	%	15.2	%	16.4	%	15.9	%
2021	105.4	103.2	66.9			2021	15.3	%	14.3	%	9.5	%

	Operating Expenses						Operating Expenses as a % of revenues
	Q1	Q2	Q3	Q4	FY		Q1		Q2		Q3		Q4		FY
2020	95.5	77.8	78.1	87.8	339.2	2020	12.8	%	12.5	%	12.6	%	12.8	%	12.7	%
2021	93.2	87.8	88.2			2021	13.5	%	12.2	%	12.5	%

	Operating Profit (Loss)						Operating Profit (Loss) %
	Q1	Q2	Q3	Q4	FY		Q1		Q2		Q3		Q4		FY
2020	28.0	17.0	16.2	24.4	85.6	2020	3.7	%	2.7	%	2.6	%	3.6	%	3.2	%
2021	12.2	15.4	(21.3)			2021	1.8	%	2.1	%	-3.0	%


Lift Truck Business
(in millions, except percentage data)

	Interest (Income) Expense
	Q1	Q2	Q3	Q4	FY
2020	3.7	2.9	2.6	2.6	11.8
2021	2.6	3.5	3.9

	Other (Income) Expense
	Q1	Q2	Q3	Q4	FY
2020	(3.0)	4.5	(1.4)	(3.4)	(3.3)
2021	(3.6)	2.2	(1.9)

	Income (Loss) Before Taxes						Effective Income Tax Rate (1)
	Q1	Q2	Q3	Q4	FY		Q1		Q2	Q3		Q4		FY
2020	27.3	9.6	15.0	25.2	77.1	2020	25.6	%	n.m.	18.7	%	19.0	%	17.0	%
2021	13.2	9.7	(23.3)			2021	34.8	%	n.m.	(48.9)	%

	Net Income (Loss) Attributable to Stockholders (1)
	Q1	Q2	Q3	Q4	FY
2020	20.1	10.9	11.6	20.3	62.9
2021	8.2	9.3	(34.8)


	Depreciation and Amortization Expense
	Q1	Q2	Q3	Q4	FY
2020	7.2	7.3	7.7	7.9	30.1
2021	8.2	8.1	8.1

	Net Working Capital (2)
	Q1	Q2	Q3	Q4	FY
2020	497.8	468.8	405.1	391.2	391.2
2021	424.6	526.3	580.4

	Capital Expenditures
	Q1	Q2	Q3	Q4	FY
2020	15.6	12.6	4.0	12.0	44.2
2021	6.2	6.9	7.2

	Net Cash Provided By (Used For) Operating Activities
	Q1	Q2	Q3	Q4	FY
2020	(45.4)	63.4	88.2	80.4	186.6
2021	(24.6)	(56.7)	(85.4)

	Net Cash Provided By (Used For) Investing Activities
	Q1	Q2	Q3	Q4	FY
2020	(15.6)	(24.0)	(4.9)	(12.0)	(56.5)
2021	(5.3)	(6.8)	(7.0)


Lift Truck Business
(in millions, except percentage data)

	Cash Flow Before Financing Activities (3)
	Q1	Q2	Q3	Q4	FY
2020	(61.0)	39.4	83.3	68.4	130.1
2021	(29.9)	(63.5)	(92.4)

	Net Cash Provided By (Used For) Financing Activities
	Q1	Q2	Q3	Q4	FY
2020	55.6	(37.3)	(55.1)	(12.2)	(49.0)
2021	(10.6)	44.2	71.1

(1)	During the third quarter of 2021, the Company recognized a valuation allowance of $38.4 million provided against deferred tax assets.
(2)	Net working capital is equal to accounts receivable, net plus inventories, net less accounts payable.
(3)	Cash flow before financing activities is equal to net cash provided by (used for) operating activities plus net cash provided by (used for) investing activities.


Bolzoni
(in millions, except percentage data)

	Revenues							Revenues - Bolzoni - % change yr. over yr.
	Q1	Q2		Q3	Q4	FY		Q1		Q2		Q3		Q4		FY
2020	87.9	64.2		63.3	68.3	283.7	2020	-4.2	%	-29.3	%	-16.5	%	-21.5	%	-17.9	%
2021	79.5	84.8		90.0			2021	-9.6	%	32.1	%	42.2	%

	Gross Profit (Loss)							Gross Profit %
	Q1	Q2		Q3	Q4	FY		Q1		Q2		Q3		Q4		FY
2020	16.9	11.5		12.1	12.9	53.4	2020	19.2	%	17.9	%	19.1	%	18.9	%	18.8	%
2021	16.4	15.8		15.2			2021	20.6	%	18.6	%	16.9	%

	Operating Expenses							Operating Expenses as a % of revenues
	Q1	Q2		Q3	Q4	FY		Q1		Q2		Q3		Q4		FY
2020	14.2	12.0		12.0	14.2	52.4	2020	16.2	%	18.7	%	19.0	%	20.8	%	18.5	%
2021	15.6	16.2		15.2			2021	19.6	%	19.1	%	16.9	%

	Operating Profit (Loss)							Operating Profit (Loss) %
	Q1	Q2		Q3	Q4	FY		Q1		Q2		Q3		Q4		FY
2020	2.7	(0.5)		0.1	(1.3)	1.0	2020	3.1	%	-0.8	%	0.2	%	-1.9	%	0.4	%
2021	0.8	(0.4)		—			2021	1.0	%	-0.5	%	—	%

	Income (Loss) Before Taxes
	Q1	Q2		Q3	Q4	FY
2020	2.6	(0.5)		0.1	(1.7)	0.5
2021	0.6	(0.6)		—

	Effective Income Tax Rate
	Q1	Q2		Q3	Q4	FY
2020	n.m.	20.0	%	n.m.	n.m.	n.m.
2021	n.m.	16.7	%	n.m.

	Net Income (Loss) Attributable to Stockholders
	Q1	Q2		Q3	Q4	FY
2020	2.7	(0.6)		0.1	(2.0)	0.2
2021	0.6	(0.6)		2.2


Nuvera
(in millions, except percentage data)

	Revenues
	Q1		Q2		Q3		Q4		FY
2020	1.4		0.7		0.7		1.1		3.9
2021	—		0.3		0.2

	Gross Profit (Loss) (1)
	Q1		Q2		Q3		Q4		FY
2020	(2.6)		(3.2)		(2.7)		(3.7)		(12.2)
2021	(3.3)		(2.5)		(16.5)

	Operating Expenses (2)
	Q1		Q2		Q3		Q4		FY
2020	6.8		5.1		6.0		6.0		23.9
2021	6.5		6.5		16.0

	Operating Profit (Loss) (1)(2)
	Q1		Q2		Q3		Q4		FY
2020	(9.4)		(8.3)		(8.7)		(9.7)		(36.1)
2021(1)	(9.8)		(9.0)		(32.5)

	Income (Loss) Before Taxes
	Q1		Q2		Q3		Q4		FY
2020	(9.1)		(7.9)		(8.4)		(9.4)		(34.8)
2021	(5.2)		(9.1)		(32.5)

	Effective Income Tax Rate
	Q1		Q2		Q3		Q4		FY
2020	26.4	%	26.6	%	27.4	%	25.5	%	26.4	%
2021	26.9	%	27.5	%	-17.2	%

	Net Income (Loss) Attributable to Stockholders
	Q1		Q2		Q3		Q4		FY
2020	(6.7)		(5.8)		(6.1)		(7.0)		(25.6)
2021	(3.8)		(6.6)		(38.1)

(1)	During the third quarter of 2021, Nuvera reduced its inventory by $14.8 million to its estimated net realizable value.
(2)	During the third quarter of 2021, Nuvera recognized a $10.0 million impairment charge of property, plant and equipment.

Enhanced Investments, Inc.
329 South Oyster Bay Road #2085
Plainview, NY 11803
team@eninvs.com

Important disclosures

Performance results were prepared by Enhanced Investments, and have not been compiled, reviewed or audited by an independent accountant. Performance estimates are subject to future adjustment and revision. Investors should be aware that a loss of investment is possible. Account holdings are for illustrative purposes only and are not investment recommendations. Additional information, including (i) the calculation methodology; and (ii) a list showing the contribution of each holding to the portfolio’s performance during the time period will be provided upon request.
All statements made via social media sites sponsored or maintained by Enhanced Investments and its affiliates are for informational purposes only and do not constitute a comprehensive description of Enhanced Investments' investment advisory services.
Certain investments are not suitable for all investors. Before investing, consider your investment objectives and applicable fees. The rate of return on investments can vary widely over time, especially for long term investments. Investment losses are possible, including the potential loss of all amounts invested. Information provided by Enhanced Investments is for informational and general educational purposes only and is not investment or financial advice.

Nothing on this website should be considered an offer, solicitation of an offer, or advice to buy or sell securities.
Past performance is no guarantee of future results. Any historical returns, expected returns [or probability projections] are hypothetical in nature and may not reflect actual future performance.
All the strategies assume investments in equity invstrumenta only and are more relevant for "agressive investment profile". Eastern European flagship strategy assumes using up to 20% leverage of total portfolio. GlobalCommodities and US Growth strategy currently assume no leverage.
Results for the Enhanced Investments strategies as compared to the performance of Illustrative Benchmarks is for informational purposes only. Our investment program does not mirror that of the Illustrative Benchmarks and the volatility may be materially different from the volatility of Illustrative Benchmarks. Reference or comparison to an Illustrative Benchmark does not imply that strategies of Enhanced Investments will be constructed in the same way as the Illustrative Benchmark or achieve returns, volatility, or other results similar to those of the Illustrative Benchmark. The S&P 500 is an unmanaged market capitalization-weighted index of 500 common stocks chosen for market size, liquidity, and industry group representation to represent U.S. equity performance.
Performance results were prepared by Enhanced Investments, and have not been compiled, reviewed or audited by an independent accountant. Performance estimates are subject to future adjustment and revision. Investors should be aware that a loss of investment is possible. Account holdings are for illustrative purposes only and are not investment recommendations. Additional information, including (i) the calculation methodology; and (ii) a list showing the contribution of each holding to the portfolio’s performance during the time period will be provided upon request.
All statements made via social media sites sponsored or maintained by Enhanced Investments and its affiliates are for informational purposes only and do not constitute a comprehensive description of Enhanced Investments' investment advisory services.
Certain investments are not suitable for all investors. Before investing, consider your investment objectives and applicable fees. The rate of return on investments can vary widely over time, especially for long term investments. Investment losses are possible, including the potential loss of all amounts invested. Information provided by Enhanced Investments is for informational and general educational purposes only and is not investment or financial advice.