MANITEX INTERNATIONAL, INC. (Exact Name of Registrant as Specified in Its Charter)

Transcription

1 UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of report (Date of the earliest event reported) November 30, 2016 MANITEX INTERNATIONAL, INC. (Exact Name of Registrant as Specified in Its Charter) Michigan (State or Other Jurisdiction of Incorporation) (Commission File Number) (708) (Registrant s Telephone Number, Including Area Code) (IRS Employer Identification No.) 9725 Industrial Drive, Bridgeview, Illinois (Address of Principal Executive Offices) (Zip Code) (Former Name or Former Address, if Changed Since Last Report) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: Written communications pursuant to Rule 425 under the Securities Act (17 CFR ) Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR a-12) Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR d-2(b)) Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR e-4(c))

2 Item 7.01 Regulation FD Disclosure On November 30, 2016, the Company posted a slide presentation on its website. This slide presentation is incorporated herein by reference. The information under Item 7.01 in this Current Report on Form 8-K, including the exhibits hereto, is being furnished and shall not be deemed filed for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that Section. The information under Item 7.01 in this Current Report on Form 8-K will not be incorporated by reference into any registration statement or other document filed by the Company under the Securities Act of 1933, as amended, unless specifically identified therein as being incorporated by reference. The furnishing of the information under Item 7.01 in this Current Report on Form 8-K is not intended to, and does not, constitute a determination by the Company that the information under Item 7.01 in this Current Report on Form 8-K is complete or that investors should consider this information before making an investment decision with respect to any security of the Company. Item 9.01 Financial Statements and Exhibits. (a) Financial Statements of Businesses Acquired. Not applicable. (b) Pro Forma Financial Information. Not applicable. (c) Shell Company Transactions. Not applicable. (d) Exhibits Manitex International, Inc. slide presentation posted on Company website November 30, 2016.

3 SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the Company has duly caused this report to be signed on its behalf by the undersigned thereunder duly authorized. Date: November 30, 2016 MANITEX INTERNATIONAL, INC. By: /S/ DAVID H. GRANSEE Name: David H. Gransee Title: VP & CFO

4 EXHIBIT INDEX Exhibit Number Description 99.1 Manitex International, Inc. slide presentation posted on company website November 30, 2016.

5 MANITEX (NASDAQ:MNTX) Corporate Presentation INTERNATIONAL December INC 2016 Exhibit 99.1

6 FO &NON Safe including results statements based significantly Exchange future information Non to reconciliation NASDAQ understanding RWARD Harbor GAAP results current statements Commission : by GAAPMEASURES MNTX Measures: Statement future from LOOKIN terminology Forward of these plans its economic developments 2 operating regarding results measures under Manitex looking estimates and G S such performance; TAT the results the statements as International U and E anticipate Company s S M otherwise without expectations Private E in N this and speak or T from the presentation achievements Securities statements estimate expected only impact and time as involve to Litigation results of plan should time special the expressed management s a date of refers number project operations Reform items on evaluated to which various of implied See Act goals known continuing or Manitex s they of liquidity; non and by light 1995: are and such GAAP objectives made of unknown This Q3 these forward statements ongoing 2016 (generally and presentation important and risks the earnings looking other concerning Company expect uncertainties accepted factors similar contains statements release undertakes we accounting projections Although expressions statements and the believe These other Investor no we principles) factors predictions obligation concerning we that believe Relations are and intend forward that financial additional to expectations matters could update these may section looking cause measures statements that publicly will information of are our the estimates not nature Company s website should are this historical revise are based which presentation www discussed forecasts could any upon future facts express manitexinternational forward reasonable results In in Manitex and to some the looking our beliefs similar Company s performance cases business assumptions believes statement and expressions you com expectations filings financial that can or for whether we achievements identify this a with Such description cannot information and of the forward as statements operational management guarantee Securities a result to and/or differ is looking of useful are and new

7 PRODUCT Manitex Global Materials Miscellaneous ASV Equipment NASDAQ Niches Construction Military Power Energy Company Launched Publicly Industry 3 compact line provider Served exploration International consolidator: traded and Origin as : construction? distribution O MNTX a residential container V track private specialized since of E highly R and loaders V 2006 Inc company consistently segment I field handling E Railroads? specialized equipment NASDAQ: W non development in skid residential equipment 2003 adding Ports? steers cranes; MNTX branded Government/agency straight product mast and lines knucklebooms through M&A since 2006

8 COMPANYTIMELINE MARCH 2006 NOVEMBER 2007 MAY 2008 OCTOBER 2009 JULY 2010 NASDAQ JANUARY 2015 DECEMBER OCTOBER JULY DECEMBER Name Manitex Acquires 2002 : 2003 Closes Crane VCC MNTX CVS Acquires changed Announces Veri merges Badger Operating Manitowoc acquires & Acquisition Closes Tek Announces Machinery Sabre PM into Load Equipment Acquires Manitex sale Group Noble agreement (NYSE:MTW Veri Manufacturing Agreement King divests of of sale and Tek Load International forklift SpA LiftKing CVS Trailers Co of Schaeff Manitex with Intl LiftKing )acquires (VCC) Terex LLC trailers Forklift and NOVEMBER for listed Grove 51% acquired on of Nasdaq ASV Acquires (MNTX) Valla SpA of Piacenza Italy

9 Transformational ASV Manitex SpA PM Consideration NASDAQ Group PM and ASV Inc contributes Group PM : (closed had MNTX Group was trailing S Acquisitions p 12/2014) $30 5 A $25M (closed 4 twelve million with Agreement 1/2015) month 2014 $20M consisting 15 revenues in with a common leading of Terex of $20 approximately Italian shares 3 Corporation million manufacturer and in debt cash $130 that $100 securities brings $10 million of 1 truck a million being broad Group issued in product equity mounted to line Terex and of hydraulic the rubber as assumption well track knuckle $5M compact of boom in $62 cash; 2 and cranes million ASV skid with had in steer non a $44M product loaders recourse in non and range PM recourse accessories spanning Group debt more to the and than product liabilities 50 models group

10 DEBTANDLIQUIDITY As PM Working Bank Capital Convertible Other TOTALS: Debt Balance Note: Cash Net NASDAQ of Debt Issuance Term September ASVCVSTotalQ2 Non acquisition leases Sheet Hand capital : recourse debt $160 MNTX notes $52 Costs: facilities 6 8$47 $6 30 7$(5 notes to 0$(3 Debt (0 8$68 6 Manitex 4) ( ) 1) 4 ($Millions) 6) $169 $ (0 Int l $(9 2 2) 3$(9 336 Inc 3) 672 0) Manitex $52 2(8 8$47 9) &Change 8$16 9$117 v 5$6 3

11 CORPORATEANDFINANCIALOBJECTIVES Cost $5 $7 Targeting Balance non Resource Expand at Cross Divest 10% execution NASDAQ time 0 activate strategic million EBITDA reductions sell lower of PM sheet allocation transaction) $15 Manitex in : ASV MNTX Crane in asset improvement million margin expense through dealer distribution sales cranes to product 7 in goal expand reductions network sourcing expense internationally with and groups sales debt economic N reductions and implemented N improve that operating America have recovery implemented margins higher through (126 efficiency YTD and locations strategic 2016 (target enhance internal continued initiatives (ahead was value ROI cash /30/2016 $4 of elsewhere profile flows million); and target); vs Zero

12 COMPETITIVEPOSITIONING Core Strong Acknowledged Focused Products Niche Highly Superior Lower NASDAQ Competency markets capital brand customized/specialized; on ROI : specialized MNTX history commitment Broad product 8 end equipment development user for base a will boom and configure record niche truck International vs end to competitors markets orde? Parts dealers and custom enable service cranes us to important of follow similar demand part lifting of capacity business Usually model less or no special permitting vs competitors custom cranes of similar lifting capacity

13 LIFTINGEQUIPMENTMARKETOVERVIEW We 7% Distribution Manitex < > % 26% Principal construction/maintenance NASDAQ Broader customers > Boom are 40% Position % focused 9 market: products: Market 36 Truck : needs MNTX 23% > ~50/50 Crane Production 34% 18% the boom most Market Overview Tonnage split truck heavy attractive distribution between vs cranes construction Manitex 17 9 lower that highest skewed vary capacity and margin toward height energy and part larger & higher Boom of tonnage the tonnage truck capacity market capacity STRAIGHTMAST cranes machines crane Smaller typically shipments; First tonnage less launch expensive ~2/3 cranes of 50 Manitex ton (<30 than crane tons) rough shipments (May more terrain 2007) focused have and Launching been all on terrain general/light larger ongoing cranes tonnage construction enhancements Focus markets; being to heavy a niche larger tonnage player cranes product allows (30+ line tons) specialization (TC focus power tailored 450 line & towards 500)

14 T Knuckleboom $100 Western $24 $13 North Large PM Opportunity NASDAQ Principal H Group has E $1 Market American K a 400 Europe N Industry geographically : TTM U MNTX to C of Market increase $15 K Eastern Knuckleboom $2 Revenues Participants L $20 3 E BN Worldwide B PM Europe O diverse is (US$ O roughly Group s M market North M customer millions) Sales A 2X No R is (US$ the K growing American base E size T millions) $2 with $400 of 3 the market Billion 70% South straight of presence Globally America its mast business boom through (Management $200 outside truck North Manitex s market Europe Rest Estimates) of distribution (global) World America network

15 REPLA Consistent Typically Spares Serve Service Automated 11 NASDAQ additional relate team C generates E : recurring proprietary MNTX M to for E swing brands crane N 10% T revenue S drives equipment system PA 20% R stream rotating T of implemented S net & throughout sales S components E R in V in a I quarter/year principal C the E & cycle booms operations (ASV among is approx others many 25%) of Typically which are carry proprietary 2x gross margin of core equipment business

16 INVESTINGINTHECYCLE $20 $17 $15 $12 $10 Share NASDAQ price Low $9 58 : Share currently MNTX $8 31 High $7 12 at $7 68 levels $5 80 despite $6 MNTX 05 significantly $6 30 $5 37 higher $5 12 $3 EV 89 and $4 EBITDA 18 $4 25 potential $2 88 $3 35 $2 61 $1 80 $0 83$0 40 $

17 Va ($ EBITDA/Adjusted NASDAQ Millions) l u a t i : o MNTX n $ $ EquityHolderstoBenefitaswemovedebttoequity EV 13 Implied Implied Net Debt EBITDA (@ 10x multiple) Share Price

18 MANITEX FINANCIALOVERVIEW December *Results may 2016 INTERNATIONAL contain adjustments INC please see reconciliation to GAAP on Slide 19 and other Manitex source disclosure and SEC filings

19 FINANCIALSUMMARYSNAPSHOT Key Stock Market Total Ticker $000 Revenues Gross Adjusted Backlog *Restated ** q NASDAQ Statistics EBITDA and Ent except Price Margin / Cap Results Exchange 10k EBITDA** Net for Value 82 : 386 MNTX (11/28/16) % at income** 522 divestiture (%) Margin www exclude 737 Capitalization (11/28/16) 2015* $98 18 MNTX/NasdaqCM $247 sec 158$77 (%)** 0% $25 $1 2014** of $ gov 612* 164$ M 19 Load /share $ 1 281$130 2%19 6 in $9 246 MDiluted $22 7% King after 825*$10 072$ $21 8 0%19 Basic M 9%8 12/2015 tax 352$83 Total Shares acquisition 7%20 178$8 8%8 483$17 249$142 Debt 700 7%7 (9/30/16)16 6% 077$2 (9/30/16)$ 957$ % and 780 other M costs 7 M see reconciliation of non GAAP items in SEC filings via forms 8k

20 SUMMARYBALANCESHEET Sep Fixed Other Current Long Shareholders Total *Restated NASDAQ **Restated $ Assets Liabilities Term Long 16 $41 to : to Liabilities MNTX Term 31 reflect 858 Equity $ Dec & $192 Assets Shareholders *31 $123 divestiture $ $ Dec $317 $120 of of 14* $ Equity Load $ Dec 156$ King 857$121 $ $ / $ $ $

21 WORKINGCAPITAL (compared NASDAQ Sep 2016 Working (DSO) Days Inventory Current Operating annualized sales payable 2015 ratio 83 capital Capital Dec turns working : to LQS 62 MNTX would North outstanding 31 1 decrease $69 capital 3 American be 7 2 6% related (DPO) % $ % September of term to 79 lines reduced of 520 credit volume 2016 and that and 2 are 0 to at long write December term) off of joint 2015 venture adjusting investment for PM & DSO CVS from working higher capital proportion facilities of of int l $34 sales 1 million longer and $21 normal 9m trade at December terms and that also are timing transactional of sales and towards therefore end of current the quarter

22 DEBTANDLIQUIDITY Repayments Sep 2016 Total Net Debt/Adjusted NASDAQ *RestatedtoreflectdivestitureofLoadKing12/2015 capitalization debt 30 Equity Cash 2015* (debt / EBITDA Dec capitalization reduction : MNTX of 166 $6 31 less 115 EBITDA term cash) ( debt $8 excluding 173 months) of /30/ $ % 2X 2 continuing 090 million 55 6 $15 7x 6% of 686 $160 year $25 operations to million date 2016 working compared including capital to elimination $155 facilities 8 million of of $21 recourse at 6 12/31/15 million term year debt to date

23 *NON Net Pre restructuring Exchange Tax continuing Manitex Weighted outstanding Diluted shareholders Total Adjusted attributable NASDAQ Three September (loss) effect tax: EPS GAAPRECONCILIATIONS (loss) Months shareholders Net Diluted transaction average income and based Effect : operations to MNTX and 30 Income 16 shareholders other reported September Ended 127 related earnings diluted $0 effective expense related (loss) 41$ 19 attributable and shares $(0 (loss) from adjustments Foreign tax $0 to 36)$(0 05$(0 594 per rate to $(5 to share 883)$(639) $796$(639) 04) NetIncomefromContinuingOps

24 *NON Three September 2016 Operating Pretax: restructuring foreign adjustments Depreciation taxes (Adjusted AdjustedEBITDA%tosales NASDAQ depreciation Months transaction exchange operating Earnings EBITDA) (loss) : GAAPRECONCILIATIONS 30 MNTX and & Ended Amortization September related and before and income other 20 Nine amtization expense interest $(961) 30 Months $45 September 2 38%62%50%75% and 784 $1 958$2 958$4 Ended $8 248$11 $ September 2 217$ AdjustedEBITDA $

25 O Straight Sign Knuckle Compact Precision Power Construction Automotive Chemical Growing Improving Strong NASDAQ 21 P E cranes R transmission end mast AT boom acceptance track pick / : fundamentals petrochemical market Parts MNTX I Infrastructure boomtrucks N & loaders cranes G carry demand C Industrial of O Truck Skid cranes knucklebooms M in Industrial and PA for Utilities general steer mounted projects N cranes specialized I loaders E construction projects S Aerial Products Infrastructure in North competitively Infrastructure Platforms American End markets development Market differentiated residential markets development Drivers Oil and and products Aerospace light gas commercial exploration for Environmental Construction oil gas creating and (electric) energy demand sectors Product hazardous Product development (spark free) developments Product development

26 OPERAT Rough Specialized Reach Container Railroad Large Global Equipment Reputation International NASDAQ client stackers terrain container Construction I handling : replacement for N equipment MNTX base container G cranes quality C market O forklifts energy 22 M Specialized & Refineries market PA cycle innovation liquid sector N Parts I and E small storage construction Municipality S Petrochemical global Products Serves tonnage & trade containment a market End equipment flexible Re Waste Market establishing of cranes over management 8 Parts 000 Drivers $1B for 21 customer annually refinery 000 Oil gallon & relationships market gas capacities drilling More and efficient select product offering categories across end markets

27 EXPERIENCEDMANAGEMENTTEAM Andrew 20+ David Formerly Robert 10+ Scott 13+ Steve 25+ NASDAQ years Rolston Kiefer Langevin Gransee Litchev Rooke with principally : MNTX SVP Arthur CFO President Chairman Sales Strategic 23 & with Andersen Treasurer and & Rolls Manitowoc Eaton Terex Manufacturing COO Planning Marketing CEO Royce 15+ Corp years and GKN Operations with Hendrickson Sinter Eon Metals Labs International (formerly Off Highway listed) & Auto Divisions

28 MANITEX (NASDAQ: David 708 Peter 516 Seltzberg Langevin INTERNATIONAL MNTX Darrow C ) December Associates 2016 INC Icc