ITT FY Conference Summary Company Overview - **Company**: ITT Inc. (NYSE: ITT) - **Date of Conference**: September 18, 2025 Key Points Industry and Market Position - ITT has experienced strong orders growth in Q2, indicating a positive trajectory for the company moving forward [3][4] - The automotive segment has seen a significant shift, with its contribution to EBIT decreasing from over 60% to approximately 30%, and projected to be around 20% by 2030 [4][5] - ITT aims for long-term targets of 5% organic growth, 10% total growth, and an operating margin of 23% or more [5] Financial Performance - ITT generated a free cash flow margin of 14% in Q2, which supports ongoing investments in R&D and M&A [3][6] - The company repurchased $500 million in shares this year, indicating a strong capital allocation strategy [18] Organic Growth Strategy - ITT has made significant investments in high-performance products across its segments, including automotive and industrial applications [9][10] - The automotive business has outperformed the market by approximately 700 basis points over the last decade, with market shares in Europe, China, and North America at 31%, 27%, and a healthy position respectively [10][11] - Major investments include a $50 million plant for high-performance vehicles, resulting in a 5% market share gain in that segment within 18 months [11][12] Inorganic Growth Strategy - ITT is actively pursuing M&A opportunities, focusing on high-margin businesses and establishing strong relationships with potential targets [14][15] - The company has a healthy M&A funnel and aims to deploy capital for acquisitions in the near future [15][16] Market Dynamics - The automotive market is expected to remain flat in production year-over-year, with China showing resilience while Europe and North America may decline [24][25] - ITT has maintained a strong market share in the automotive sector, with a focus on original equipment (OE) rather than aftermarket sales [23] Industrial Products (IP) Segment - The IP segment is experiencing moderate growth, particularly in spare parts, while the long-cycle business has seen a decline in the order funnel due to previous high order volumes [40][41] - The backlog for ITT stands at approximately $1.2 billion, with a significant portion expected to convert into revenue in 2025 and 2026 [47][48] Decarbonization Efforts - ITT is positioned to support customers in decarbonization efforts, particularly in oil and gas, with solutions that prevent flaring and enhance carbon capture [49][50] - The marine segment, particularly Svanehøj, is benefiting from a shift towards cleaner fuels like LNG and ammonia [50] Aerospace and Defense - The CCT segment, while smaller, has shown growth potential, particularly in defense applications [54][58] - ITT is negotiating new pricing terms with Boeing, aiming to adjust for increased material costs since previous contracts were set [56][57] Conclusion - ITT is strategically positioned for growth through a combination of organic and inorganic initiatives, with a strong focus on innovation, market share expansion, and capital allocation to enhance shareholder value [3][5][14]

Marcel Wiedman表示："通过精准拓展制动产品系列，我们已实现近乎全面的市场覆盖，能够为客户提 供更丰富的选择以及更高的供货保障率。"例如，海拉售后的制动片与制动盘市场覆盖率已接近99％， 制动液压产品覆盖率则超过85％。此外，海拉售后在电动及混合动力车型制动片市场也实现了超过90％ 的覆盖（制动盘覆盖率超过85％）。 经销商与维修厂不仅能从琳琅满目的产品矩阵中获利，更能享受到一应俱全的技术服务。此外，海拉强 大的国际销售网络，还为产品的高供应率、短交付周期以及卓越的物流服务提供了有力保障。 在新型无沉积制动卡钳（NEWMAN产品系列）领域，产品编号将从350个扩充至500个，从而覆盖更广 泛的车型。制动盘的产品供应也在不断拓展，该系列新增约50个产品编号，既包含传统制动盘，也涵盖 双片式制动盘。此外，针对宝马、奔驰等以双片式制动盘作为原厂配件的车型，海拉还增补了一体式且 成本优化的制动盘。与双片式制动盘不同，这些制动盘采用整体灰铸成型工艺，没有铝制帽。和整个产 品系列一样，它们均符合ECE-R 90指令要求，并经过涂层处理，具备防腐特性。同时，特殊的一体式 制动盘采用高碳灰铸铁制造，即便在极端条件 ...