Delphi Automotive plc (DLPH)

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Delphi Automotive (DLPH)

Merrill Lynch & Co., Inc.'s 2013 New York Auto Summit

March 27, 2013 12:40 pm ET


Jack Monti

Rodney O'Neal - Chief Executive Officer, President and Director

Kevin P. Clark - Chief Financial Officer and Executive Vice President


Unknown Analyst

Moving so quickly through lunch, we really appreciate it. Next up, we have Delphi. Last year, around this time, the market cap was about $10.3 billion -- rather conference last year. Right now, it's about $13.6 billion. So that's about 32% round numbers and almost $3.3 billion of value creation for equity shareholders. So I think this is a story that's worked out well for the equity guys. And there's a lot of upside, still, to go from here.

Delphi, as you know, is one of the top global auto suppliers out there. They objectively went through the most comprehensive restructuring in the whole industry. I think they're positioned incredibly well right now from a technology standpoint, geographic standpoint and also very much so from our customer mix standpoint, as well as a great balance sheet. Really, one of the darlings in the industry, at least, in my opinion.

Today, we're very lucky to have the Delphi team here. Leading the charge is Rodney O'Neal, who's the CEO, President and he's on -- is a Director. Kevin Clark is the Senior Vice President and the CFO. He holds the reins on capital, as well as Rodney. And Jack Monti, from Investor Relations, who's been incredibly helpful since he's joined the team in the last year. Really do appreciate your help, Jack.

And with that, I'll turn it over to Jack to do the formal introductions and statements.

Jack Monti

John, thanks for the introduction. It's a privilege to be here today speaking, especially at this time. Before we get started, I want to touch on the forward-looking statements. You've all seen these. If you have any questions feel free to refer to our annual 10-K or SEC filings.

And it's our pleasure to have today's presentation being given by Rod O'Neal, Delphi's Chief Executive Officer and President. As you know, we're a few weeks off of our Analyst Day, and we thought it was a good opportunity to reiterate some of the key messages from that day around Delphi's competitive advantages, our financial model, our strong cash generation and capital-allocation priorities.

With that, Mr. Rod O'Neal.

Rodney O'Neal

Thanks, Jack, and good afternoon, everyone. And as you know, I love to talk about our company. Last year, we committed to delivering some very strong financial results and, above all, driving the shareholder value. And even in the face of European market, we delivered on those promises in 2012.

We continued to delight our customers with flawless launch and the introduction of award-winning technologies. And we further optimized our cost structure and expanded margins. And we successfully executed the acquisition of MVL, and we purchased over $400 million of our stock. And we were added to the S&P 500. So 2012 was really one heck of a year for us. And I think our performance, it's a testament to our laser focus as a management team on operational excellence. And that in turn, drives the shareholder value you see. So today, I'm going to share with you some of the reasons we believe Delphi is well positioned for the future.

The pace of change in the automotive industry, well, it's accelerating. And Delphi is uniquely positioned to be at the center of evolution and innovation that is taking place in the world today. We've seen the tremendous amount of change in the past 10 years. Global platforms have become a reality. By 2020, they will represent over 1/2 of the global vehicle build. China has evolved to the largest market on the planet. And by the way, you can see some of these changes firsthand at our China Investor Day on April 22. It coincides with the Shanghai Auto Show. It's going to be a great opportunity for investors to visit one of the largest automobile shows in the world, as well as tour some of our facilities, and see our China business up close and personal. So we'd love to have you join us. And I encourage you to speak with Jack afterwards to get more details.

So China isn't the only area that we're seeing massive change. Stricter fuel economy and emission standards are taking hold worldwide. And consumers are demanding to be connected from the car. Delphi is firmly situated at the center of this evolution. We have the advanced technologies that addresses the challenges that our customers face every day that relate to fuel efficiency, Connected Cars, and Active Safety. We have the footprint to serve our customers globally. We have the most competitive cost structure in the industry. We have capabilities to execute flawlessly. And we have a very diversified customer and regional mix. So to put it simply, we are uniquely positioned for the future. And this is how we will continue to provide value to our customers and create additional value for our shareholders.

Delphi, where we're all about solving the unique problems of our customers. And for 2013, we will continue to shape the market with our innovation, and we will add to an already great portfolio of recently introduced products such as gas, direct injection and our MyFi suite of safety and infotainment offering. Our engineers and our technologists have been recognized more times than any other supplier for the game changers that they brought to market. In fact, we're very proud to have 4 products, which are finalists in the PACE Awards and 1 in the finalist for the Edison Award.

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