This document summarizes Chip McClure's presentation at ArvinMeritor's 2006 Analyst Day. It provides an overview of the company's commitments, goals, and delivery over the past year. It also discusses challenges like the North American truck downturn and opportunities in Asia. Medium-term goals are outlined to achieve a balanced regional mix and triple the Asia and aftermarket businesses. A new leadership team is introduced to help reshape the future, and the Performance Plus program is summarized to focus on operational excellence.
This document summarizes Chip McClure's presentation to shareholders on January 26, 2007. The presentation covers:
1) The company delivered strong financial results in 2006, exceeding targets for sales, earnings per share, operating income, and free cash flow.
2) The company faces challenges from the downturn in the North American truck market and production cuts, as well as increased material costs. However, opportunities exist in growing Asian markets and with some competitors weakened.
3) The company's vision is to be a global systems leader, accelerate growth in Asia and commercial vehicles, and achieve top financial performance among peers through initiatives like expanding its aftermarket business and category crossover.
This document summarizes a presentation given by Chip McClure, Chairman and CEO of ArvinMeritor, at the 2008 AANY Conference. The presentation discusses:
1) Challenges facing the company such as the economic outlook in North America and executing their Performance Plus initiatives.
2) Growth opportunities for the company in areas like Europe, Asia, commercial vehicle aftermarket, and specialty vehicles.
3) Key priorities including cost improvements, global growth initiatives, expanding the aftermarket business, and growing relationships with Asian OEMs.
Group 1 Automotive is a top five U.S. automotive dealer group with over 170,000 vehicle sales in 2008 and $4.3 billion in annual revenue. In the first quarter of 2009, revenues decreased 32.2% to $1.02 billion compared to $1.5 billion in the first quarter of 2008. Parts and service generates 70% of gross profits and covers 75-85% of fixed costs. The company expects to dispose of some dealerships that do not provide acceptable returns in 2009 but does not plan additional acquisitions.
This annual report summarizes Visteon's activities in 2005. It discusses how the company restructured through an agreement with Ford that transferred assets and liabilities. This made Visteon leaner and better positioned it for long-term success. The report also describes how Visteon became more focused on its three core product groups, expanded its global footprint, and improved its cost structure through restructuring. Visteon made progress transforming into a competitive global automotive supplier.
This document summarizes Mike Hilton's presentation at the Bank of America 37th Annual Investment Conference on September 18, 2007. The presentation provides an overview of Air Products, including its business segments, value proposition through long-term contracts and consistent cash flows, growth strategies focused on volume increases and productivity gains, and financial performance targets of 10-15% EPS growth through market expansion and margin improvements. Hilton commits to achieving an ORONA of 12.5% for fiscal year 2007 and outlines further growth opportunities in large projects, new markets, and productivity initiatives to drive sustainable double-digit returns.
The document provides an overview of Lear Corporation's fourth-quarter and full-year 2008 financial results and sales backlog update. Some key points:
- Global automotive production declined sharply in 2008 due to the economic downturn, with North American production down 26% in Q4.
- Lear reported $2.6 billion in Q4 sales and $13.6 billion for full-year 2008. Q4 core operating earnings were $22 million and full-year were $418 million.
- Lear's sales backlog for 2009-2011 was $1.1 billion, representing continued diversification outside of North America.
- Aggressive restructuring actions have improved Lear's
This document summarizes a presentation given by Paul Cutler, Treasurer of FPL Group, Inc. and Mike O'Sullivan, Senior Vice President of NextEra Energy Resources at the 2009 Credit Suisse Energy Summit on February 3, 2009. The presentation discusses FPL Group's position as a leading U.S. power company with a focus on clean energy. It highlights the company's strong financial position and credit ratings. It also discusses opportunities for growth in the U.S. wind and solar markets and how FPL Group is well positioned to benefit from policy shifts supporting low-carbon energy development.
This document provides an overview of Goodrich Corporation presented at the Morgan Stanley Global Industrials CEOs Unplugged Conference on September 10, 2008. Key points include: Goodrich has a balanced portfolio and business mix with 45% of sales from aftermarket; sales are expected to continue growing due to new aircraft platforms and programs; the large commercial aircraft fleet is growing and provides a major opportunity for aftermarket sales; and Goodrich is well positioned in both commercial and defense markets.
This document summarizes Chip McClure's presentation to shareholders on January 26, 2007. The presentation covers:
1) The company delivered strong financial results in 2006, exceeding targets for sales, earnings per share, operating income, and free cash flow.
2) The company faces challenges from the downturn in the North American truck market and production cuts, as well as increased material costs. However, opportunities exist in growing Asian markets and with some competitors weakened.
3) The company's vision is to be a global systems leader, accelerate growth in Asia and commercial vehicles, and achieve top financial performance among peers through initiatives like expanding its aftermarket business and category crossover.
This document summarizes a presentation given by Chip McClure, Chairman and CEO of ArvinMeritor, at the 2008 AANY Conference. The presentation discusses:
1) Challenges facing the company such as the economic outlook in North America and executing their Performance Plus initiatives.
2) Growth opportunities for the company in areas like Europe, Asia, commercial vehicle aftermarket, and specialty vehicles.
3) Key priorities including cost improvements, global growth initiatives, expanding the aftermarket business, and growing relationships with Asian OEMs.
Group 1 Automotive is a top five U.S. automotive dealer group with over 170,000 vehicle sales in 2008 and $4.3 billion in annual revenue. In the first quarter of 2009, revenues decreased 32.2% to $1.02 billion compared to $1.5 billion in the first quarter of 2008. Parts and service generates 70% of gross profits and covers 75-85% of fixed costs. The company expects to dispose of some dealerships that do not provide acceptable returns in 2009 but does not plan additional acquisitions.
This annual report summarizes Visteon's activities in 2005. It discusses how the company restructured through an agreement with Ford that transferred assets and liabilities. This made Visteon leaner and better positioned it for long-term success. The report also describes how Visteon became more focused on its three core product groups, expanded its global footprint, and improved its cost structure through restructuring. Visteon made progress transforming into a competitive global automotive supplier.
This document summarizes Mike Hilton's presentation at the Bank of America 37th Annual Investment Conference on September 18, 2007. The presentation provides an overview of Air Products, including its business segments, value proposition through long-term contracts and consistent cash flows, growth strategies focused on volume increases and productivity gains, and financial performance targets of 10-15% EPS growth through market expansion and margin improvements. Hilton commits to achieving an ORONA of 12.5% for fiscal year 2007 and outlines further growth opportunities in large projects, new markets, and productivity initiatives to drive sustainable double-digit returns.
The document provides an overview of Lear Corporation's fourth-quarter and full-year 2008 financial results and sales backlog update. Some key points:
- Global automotive production declined sharply in 2008 due to the economic downturn, with North American production down 26% in Q4.
- Lear reported $2.6 billion in Q4 sales and $13.6 billion for full-year 2008. Q4 core operating earnings were $22 million and full-year were $418 million.
- Lear's sales backlog for 2009-2011 was $1.1 billion, representing continued diversification outside of North America.
- Aggressive restructuring actions have improved Lear's
This document summarizes a presentation given by Paul Cutler, Treasurer of FPL Group, Inc. and Mike O'Sullivan, Senior Vice President of NextEra Energy Resources at the 2009 Credit Suisse Energy Summit on February 3, 2009. The presentation discusses FPL Group's position as a leading U.S. power company with a focus on clean energy. It highlights the company's strong financial position and credit ratings. It also discusses opportunities for growth in the U.S. wind and solar markets and how FPL Group is well positioned to benefit from policy shifts supporting low-carbon energy development.
This document provides an overview of Goodrich Corporation presented at the Morgan Stanley Global Industrials CEOs Unplugged Conference on September 10, 2008. Key points include: Goodrich has a balanced portfolio and business mix with 45% of sales from aftermarket; sales are expected to continue growing due to new aircraft platforms and programs; the large commercial aircraft fleet is growing and provides a major opportunity for aftermarket sales; and Goodrich is well positioned in both commercial and defense markets.
This document provides an overview of UBS Aerospace and Defense's Boston Investor Day presentation on May 14, 2008. It includes forward-looking statements and discusses Goodrich Corporation's portfolio attributes, strategic imperatives, recent highlights, sales by market channel, aerospace and defense themes, and outlook for commercial and defense markets. The presentation focuses on balanced growth opportunities in commercial aircraft original equipment, aftermarket, and defense and space products and services.
The document is a presentation by Dana Limited given at the JP Morgan Harbour Auto Conference on August 13, 2008. It summarizes Dana's financial performance in the first half of 2008, which saw declining sales volume in North America offset somewhat by growth in selected global markets. It also discusses Dana's strategies for navigating the turbulent North American auto market, which include operational excellence initiatives, cost reductions, and rightsizing their organization. Dana ended the first half of 2008 with strong liquidity and minimal net debt.
This document summarizes Paul Gifford's presentation at Gabelli and Company's 14th Annual Aircraft Supplier Conference. The presentation discusses Goodrich Corporation's balanced portfolio, strategic imperatives focused on top quartile financial returns and operational excellence. Recent highlights include a proposed joint venture with Rolls-Royce and new contracts. Goodrich has significant opportunities for growth in the defense and space market. The presentation outlines Goodrich's positioning across various aircraft platforms and markets to deliver sustained sales growth and margin expansion.
Goodrich Corporation's annual report summarizes the company's financial performance in 2007. Key highlights include:
- Sales increased 12% to $6.4 billion due to strong growth across commercial aerospace, aftermarket, and defense/space segments.
- Segment operating margins improved from 13.5% to 16.1% while net cash from operations more than doubled to $594 million.
- The company expects continued robust growth in 2008 driven by increasing demand in all market channels.
Eric Feldstein, Group Vice President and Chairman GMAC Financial Servicesfinance8
The document is a presentation from Eric Feldstein, Chairman of GMAC Financial Services, given at a 2006 GM/GMAC Global Relationship Conference. It summarizes GMAC's strategic vision to become a premier global finance company through leadership positions across major sectors. It outlines how a proposed sale of 51% of GMAC to an investor consortium would benefit both GMAC and GM by strengthening GMAC's credit profile, improving its credit ratings, and delinking its ratings from GM. Feldstein also reviews GMAC's business outlook and competitive advantages in its insurance operations.
1) Marshall Larsen, Chairman, President and CEO of Bank of America, spoke at the 35th Annual Investment Conference in San Francisco on September 21, 2005.
2) The document contains forward-looking statements and cautions readers that actual results may differ due to risks and uncertainties.
3) It provides an overview of Goodrich Corporation, describing it as one of the largest worldwide aerospace suppliers with the broadest portfolio of products and over 130 years of operating history.
air products & chemicals LehmanBrothersIndustrialSelectConference_08Feb2007finance26
This document provides an overview of Air Products' business and financial performance for fiscal year 2006. Some key points:
- Sales increased 10% to $8.9 billion driven by strong volume growth across all regions and segments.
- Operating income increased 18% to $470 million in Merchant Gases due to new customer signings and price increases despite hurricane impacts.
- Return on capital employed (ROCE) and operating return on net assets (ORONA) both improved in FY2006 and the company is targeting a 12.5% ORONA for FY2007.
- The company expects double-digit earnings growth beyond 2007 through market growth, expansion into new geographies and applications,
Paul Huck presented Air Products' performance in fiscal year 2008. Key points include:
- Sales were $10.4 billion, up 14% from the prior year, with continued double-digit earnings growth.
- The company has a diverse portfolio across markets and geographies.
- Air Products aims to deliver profitable growth through long-term contracts, new investments, and margin improvement initiatives. The goal is 17% operating margins by 2010.
- Business segments like Merchant Gases, Electronics, and Tonnage Gases saw solid growth and improving returns in 2008 and the outlook for 2009 and beyond remains positive.
air products & chemicals 16 May 2007 Goldman Sachsfinance26
- Mike Hilton is the VP/GM of Electronics and Performance Materials at Goldman Sachs. He presents an overview of Air Products' business segments and financial performance.
- Air Products has seen consecutive years of sales growth and increasing earnings per share. The company aims to achieve an ORONA (operating return on net assets) of 12.5% through profitable growth initiatives.
- Key growth areas include major investment projects in Tonnage Gases, liquefied natural gas equipment, and expanding markets in Asia for Merchant Gases and Electronics. The presentation provides segment-level details on financial performance and growth strategies.
Doug Foshee, President and CEO of El Paso Corporation, presented at an annual investor conference on September 20, 2005. He summarized that El Paso has made significant progress in turning the company around, reducing net debt from $20.5 billion to $15.9 billion through asset sales and debt reduction. Production has stabilized at around 900 million cubic feet equivalent per day, and the company is well positioned with natural gas assets. El Paso expects substantial leverage to higher natural gas prices in 2006, with every $1 increase in gas prices above $5 providing around $200 million in additional cash flow.
The document is the transcript from Cummins Inc.'s third quarter 2008 earnings teleconference call. It provides an overview of Cummins' financial performance in Q3 2008, including revenue growth of 12% and EBIT margin of 10.3%. Segment results are also summarized, with the Engine segment seeing 6% revenue growth and the Power Generation segment seeing 14% revenue growth. Guidance for full year 2008 is also provided, with revenue growth expected at 12% and EBIT margin of 10%.
The document discusses Goodrich Corporation, a major aerospace supplier with over $4.7 billion in sales in 2004 and leadership positions in key markets. It outlines Goodrich's growth strategies including new program wins on aircraft like the Airbus A380 and Boeing 787, as well as emerging opportunities in defense, homeland security, and commercial aftermarket services. The presentation also emphasizes Goodrich's focus on operational excellence initiatives to drive costs savings and manufacturing efficiencies.
The document summarizes Daimler's Q1 2009 results. Key points include:
- EBIT fell to minus €1.4 billion from €2 billion in Q1 2008 due to lower unit sales from the economic crisis.
- Net profit decreased from €1.3 billion to minus €1.3 billion.
- Daimler finalized its separation from Chrysler through an agreement that releases it from liabilities and requires cash payments of €0.6 billion through 2011.
- Countermeasures have been initiated to reduce expenses by €4 billion.
air products & chemicals 7 May 2008 Bankof America BASicsfinance26
This document provides an overview of Air Products, a $10 billion industrial gases company. It discusses Air Products' business segments, geographic sales breakdown, and value proposition of long-term contracts and consistent cash flows. The document also summarizes Air Products' financial performance over the past four years, with increasing sales, earnings per share, operating margin, and return on capital employed. Finally, it discusses the outlook for continued growth in Air Products' electronics and performance materials segment.
This document summarizes Chip McClure's presentation to shareholders on January 26, 2007. The presentation highlights the company's financial results for 2006, industry challenges and opportunities, and the company's vision for growth and profitability. Key points include:
- The company exceeded its 2006 financial targets for sales, earnings per share, operating income, and free cash flow.
- Challenges in 2007 include the North American Class 8 truck downturn and light vehicle production cuts, while opportunities include growth in Asia and a strong balance sheet.
- The company's vision is to be a global systems leader through product innovation, accelerating growth in Asia and commercial vehicles, and achieving top financial performance among peers.
Jim Donlon, Chief Financial Officer of ArvinMeritor, presented at the Lehman Brothers Industrial Select Conference. He discussed (1) the sale of the company's Emissions Technologies business for $310 million, which will allow the company to focus on its core businesses. He (2) outlined the company's growth strategy going forward, which includes tripling sales in Asia and aftermarket. The sale will (3) narrow the company's focus and allow it to invest proceeds into organic growth, acquisitions, and paying down long-term liabilities.
1) The document summarizes Jim Donlon, the Chief Financial Officer of Lehman Brothers, presenting at an industrial select conference.
2) It discusses Lehman Brothers agreeing to sell its Emissions Technologies business for $310 million, allowing it to focus on core areas like chassis, drivetrain and apertures.
3) The divestiture will reduce Lehman Brothers' sales from $8.9-9.1 billion to $5.9-6.1 billion and reduce facilities from 112 to 75 and employees from 27,500 to 20,000.
The document announces that ArvinMeritor will spin off its Light Vehicle Systems segment into a separate publicly traded company. The spinoff is expected to be completed within the next 12 months and will allow each company to focus on its specific market and improve shareholder value. It provides an overview of the new Light Vehicle Systems company, including its leadership team, global operations, strong brand portfolio, and growth opportunities in international markets.
The document announces that ArvinMeritor will spin off its Light Vehicle Systems segment into a separate publicly traded company. The spinoff is expected to be completed within the next 12 months and will allow each company to focus on its specific business areas. It provides an overview of the new Light Vehicle Systems company, including its leadership team, global operations, strong brand portfolio, and growth opportunities in international markets. Financial projections indicate the new company is well positioned for margin expansion and profitable growth.
This document summarizes a presentation by Phil Martens, President of Light Vehicle Systems at ArvinMeritor, at the 2008 Morgan Stanley Global Automotive Conference. The presentation outlines ArvinMeritor's priorities for 2008, which include radically improving costs through restructuring, improving free cash flow, capitalizing on growth in emerging markets, aligning with key customers, and launching new products. Examples of actions taken to achieve the priorities are provided. Financial assumptions for 2008 are also presented.
This document summarizes a presentation by Phil Martens, President of Light Vehicle Systems at ArvinMeritor, at the 2008 Morgan Stanley Global Automotive Conference. The presentation outlines ArvinMeritor's priorities for 2008, which include radically improving costs through restructuring, improving free cash flow, capitalizing on growth in emerging markets, aligning with key customers, and launching new products. Examples of actions taken to achieve the priorities and financial assumptions for 2008 are provided.
This document summarizes a presentation given by Phil Martens, President of Light Vehicle Systems at ArvinMeritor, and Jim Donlon, Senior Vice President and CFO of ArvinMeritor, at the Morgan Stanley Global Automotive Conference. The presentation provides an overview of Light Vehicle Systems, its performance and margins, strategies for improving performance through initiatives like Performance Plus, new product development focusing on smart systems and expanding engineering capabilities, and a strategy for growth in Asia.
This document provides an overview of UBS Aerospace and Defense's Boston Investor Day presentation on May 14, 2008. It includes forward-looking statements and discusses Goodrich Corporation's portfolio attributes, strategic imperatives, recent highlights, sales by market channel, aerospace and defense themes, and outlook for commercial and defense markets. The presentation focuses on balanced growth opportunities in commercial aircraft original equipment, aftermarket, and defense and space products and services.
The document is a presentation by Dana Limited given at the JP Morgan Harbour Auto Conference on August 13, 2008. It summarizes Dana's financial performance in the first half of 2008, which saw declining sales volume in North America offset somewhat by growth in selected global markets. It also discusses Dana's strategies for navigating the turbulent North American auto market, which include operational excellence initiatives, cost reductions, and rightsizing their organization. Dana ended the first half of 2008 with strong liquidity and minimal net debt.
This document summarizes Paul Gifford's presentation at Gabelli and Company's 14th Annual Aircraft Supplier Conference. The presentation discusses Goodrich Corporation's balanced portfolio, strategic imperatives focused on top quartile financial returns and operational excellence. Recent highlights include a proposed joint venture with Rolls-Royce and new contracts. Goodrich has significant opportunities for growth in the defense and space market. The presentation outlines Goodrich's positioning across various aircraft platforms and markets to deliver sustained sales growth and margin expansion.
Goodrich Corporation's annual report summarizes the company's financial performance in 2007. Key highlights include:
- Sales increased 12% to $6.4 billion due to strong growth across commercial aerospace, aftermarket, and defense/space segments.
- Segment operating margins improved from 13.5% to 16.1% while net cash from operations more than doubled to $594 million.
- The company expects continued robust growth in 2008 driven by increasing demand in all market channels.
Eric Feldstein, Group Vice President and Chairman GMAC Financial Servicesfinance8
The document is a presentation from Eric Feldstein, Chairman of GMAC Financial Services, given at a 2006 GM/GMAC Global Relationship Conference. It summarizes GMAC's strategic vision to become a premier global finance company through leadership positions across major sectors. It outlines how a proposed sale of 51% of GMAC to an investor consortium would benefit both GMAC and GM by strengthening GMAC's credit profile, improving its credit ratings, and delinking its ratings from GM. Feldstein also reviews GMAC's business outlook and competitive advantages in its insurance operations.
1) Marshall Larsen, Chairman, President and CEO of Bank of America, spoke at the 35th Annual Investment Conference in San Francisco on September 21, 2005.
2) The document contains forward-looking statements and cautions readers that actual results may differ due to risks and uncertainties.
3) It provides an overview of Goodrich Corporation, describing it as one of the largest worldwide aerospace suppliers with the broadest portfolio of products and over 130 years of operating history.
air products & chemicals LehmanBrothersIndustrialSelectConference_08Feb2007finance26
This document provides an overview of Air Products' business and financial performance for fiscal year 2006. Some key points:
- Sales increased 10% to $8.9 billion driven by strong volume growth across all regions and segments.
- Operating income increased 18% to $470 million in Merchant Gases due to new customer signings and price increases despite hurricane impacts.
- Return on capital employed (ROCE) and operating return on net assets (ORONA) both improved in FY2006 and the company is targeting a 12.5% ORONA for FY2007.
- The company expects double-digit earnings growth beyond 2007 through market growth, expansion into new geographies and applications,
Paul Huck presented Air Products' performance in fiscal year 2008. Key points include:
- Sales were $10.4 billion, up 14% from the prior year, with continued double-digit earnings growth.
- The company has a diverse portfolio across markets and geographies.
- Air Products aims to deliver profitable growth through long-term contracts, new investments, and margin improvement initiatives. The goal is 17% operating margins by 2010.
- Business segments like Merchant Gases, Electronics, and Tonnage Gases saw solid growth and improving returns in 2008 and the outlook for 2009 and beyond remains positive.
air products & chemicals 16 May 2007 Goldman Sachsfinance26
- Mike Hilton is the VP/GM of Electronics and Performance Materials at Goldman Sachs. He presents an overview of Air Products' business segments and financial performance.
- Air Products has seen consecutive years of sales growth and increasing earnings per share. The company aims to achieve an ORONA (operating return on net assets) of 12.5% through profitable growth initiatives.
- Key growth areas include major investment projects in Tonnage Gases, liquefied natural gas equipment, and expanding markets in Asia for Merchant Gases and Electronics. The presentation provides segment-level details on financial performance and growth strategies.
Doug Foshee, President and CEO of El Paso Corporation, presented at an annual investor conference on September 20, 2005. He summarized that El Paso has made significant progress in turning the company around, reducing net debt from $20.5 billion to $15.9 billion through asset sales and debt reduction. Production has stabilized at around 900 million cubic feet equivalent per day, and the company is well positioned with natural gas assets. El Paso expects substantial leverage to higher natural gas prices in 2006, with every $1 increase in gas prices above $5 providing around $200 million in additional cash flow.
The document is the transcript from Cummins Inc.'s third quarter 2008 earnings teleconference call. It provides an overview of Cummins' financial performance in Q3 2008, including revenue growth of 12% and EBIT margin of 10.3%. Segment results are also summarized, with the Engine segment seeing 6% revenue growth and the Power Generation segment seeing 14% revenue growth. Guidance for full year 2008 is also provided, with revenue growth expected at 12% and EBIT margin of 10%.
The document discusses Goodrich Corporation, a major aerospace supplier with over $4.7 billion in sales in 2004 and leadership positions in key markets. It outlines Goodrich's growth strategies including new program wins on aircraft like the Airbus A380 and Boeing 787, as well as emerging opportunities in defense, homeland security, and commercial aftermarket services. The presentation also emphasizes Goodrich's focus on operational excellence initiatives to drive costs savings and manufacturing efficiencies.
The document summarizes Daimler's Q1 2009 results. Key points include:
- EBIT fell to minus €1.4 billion from €2 billion in Q1 2008 due to lower unit sales from the economic crisis.
- Net profit decreased from €1.3 billion to minus €1.3 billion.
- Daimler finalized its separation from Chrysler through an agreement that releases it from liabilities and requires cash payments of €0.6 billion through 2011.
- Countermeasures have been initiated to reduce expenses by €4 billion.
air products & chemicals 7 May 2008 Bankof America BASicsfinance26
This document provides an overview of Air Products, a $10 billion industrial gases company. It discusses Air Products' business segments, geographic sales breakdown, and value proposition of long-term contracts and consistent cash flows. The document also summarizes Air Products' financial performance over the past four years, with increasing sales, earnings per share, operating margin, and return on capital employed. Finally, it discusses the outlook for continued growth in Air Products' electronics and performance materials segment.
This document summarizes Chip McClure's presentation to shareholders on January 26, 2007. The presentation highlights the company's financial results for 2006, industry challenges and opportunities, and the company's vision for growth and profitability. Key points include:
- The company exceeded its 2006 financial targets for sales, earnings per share, operating income, and free cash flow.
- Challenges in 2007 include the North American Class 8 truck downturn and light vehicle production cuts, while opportunities include growth in Asia and a strong balance sheet.
- The company's vision is to be a global systems leader through product innovation, accelerating growth in Asia and commercial vehicles, and achieving top financial performance among peers.
Jim Donlon, Chief Financial Officer of ArvinMeritor, presented at the Lehman Brothers Industrial Select Conference. He discussed (1) the sale of the company's Emissions Technologies business for $310 million, which will allow the company to focus on its core businesses. He (2) outlined the company's growth strategy going forward, which includes tripling sales in Asia and aftermarket. The sale will (3) narrow the company's focus and allow it to invest proceeds into organic growth, acquisitions, and paying down long-term liabilities.
1) The document summarizes Jim Donlon, the Chief Financial Officer of Lehman Brothers, presenting at an industrial select conference.
2) It discusses Lehman Brothers agreeing to sell its Emissions Technologies business for $310 million, allowing it to focus on core areas like chassis, drivetrain and apertures.
3) The divestiture will reduce Lehman Brothers' sales from $8.9-9.1 billion to $5.9-6.1 billion and reduce facilities from 112 to 75 and employees from 27,500 to 20,000.
The document announces that ArvinMeritor will spin off its Light Vehicle Systems segment into a separate publicly traded company. The spinoff is expected to be completed within the next 12 months and will allow each company to focus on its specific market and improve shareholder value. It provides an overview of the new Light Vehicle Systems company, including its leadership team, global operations, strong brand portfolio, and growth opportunities in international markets.
The document announces that ArvinMeritor will spin off its Light Vehicle Systems segment into a separate publicly traded company. The spinoff is expected to be completed within the next 12 months and will allow each company to focus on its specific business areas. It provides an overview of the new Light Vehicle Systems company, including its leadership team, global operations, strong brand portfolio, and growth opportunities in international markets. Financial projections indicate the new company is well positioned for margin expansion and profitable growth.
This document summarizes a presentation by Phil Martens, President of Light Vehicle Systems at ArvinMeritor, at the 2008 Morgan Stanley Global Automotive Conference. The presentation outlines ArvinMeritor's priorities for 2008, which include radically improving costs through restructuring, improving free cash flow, capitalizing on growth in emerging markets, aligning with key customers, and launching new products. Examples of actions taken to achieve the priorities are provided. Financial assumptions for 2008 are also presented.
This document summarizes a presentation by Phil Martens, President of Light Vehicle Systems at ArvinMeritor, at the 2008 Morgan Stanley Global Automotive Conference. The presentation outlines ArvinMeritor's priorities for 2008, which include radically improving costs through restructuring, improving free cash flow, capitalizing on growth in emerging markets, aligning with key customers, and launching new products. Examples of actions taken to achieve the priorities and financial assumptions for 2008 are provided.
This document summarizes a presentation given by Phil Martens, President of Light Vehicle Systems at ArvinMeritor, and Jim Donlon, Senior Vice President and CFO of ArvinMeritor, at the Morgan Stanley Global Automotive Conference. The presentation provides an overview of Light Vehicle Systems, its performance and margins, strategies for improving performance through initiatives like Performance Plus, new product development focusing on smart systems and expanding engineering capabilities, and a strategy for growth in Asia.
This document summarizes a presentation given by Phil Martens, President of Light Vehicle Systems at ArvinMeritor, and Jim Donlon, Senior Vice President and CFO of ArvinMeritor, at the Morgan Stanley Global Automotive Conference. The presentation provides an overview of Light Vehicle Systems, its performance and margins, strategies for improving performance through initiatives like Performance Plus, new product development focusing on smart systems and expanding engineering capabilities, and a strategy for growth in Asia.
This document summarizes a presentation given by Chip McClure, Chairman and CEO of ArvinMeritor, at the 2009 AANY Conference sponsored by Deutsche Bank. The presentation discusses ArvinMeritor's strategic priorities of accelerating restructuring, improving operations, completing the separation of the LVS business, growing high-margin segments, and innovating technology. It provides an overview of ArvinMeritor's global business portfolio and the timeline of cost actions the company has taken in recent years to address declining vehicle production volumes. Charts show external estimates for reductions in 2009 production of Class 8 trucks in North America, medium and heavy trucks in Europe, and light vehicles.
The document summarizes the key points from a presentation given by Chip McClure, Chairman and CEO of ArvinMeritor, at the 2009 AANY Conference sponsored by Deutsche Bank. The presentation provides an overview of ArvinMeritor's strategic priorities and actions taken to improve performance and liquidity given deteriorating market conditions. It outlines the plans to separate the commercial vehicle solutions and light vehicle solutions businesses, pursue a sale of the body systems unit, and explore options for exiting the chassis systems business. Frequently asked questions are also addressed.
This document discusses EnPro Industries, Inc. and provides an overview of the company, its segments, and capital allocation strategy. It also summarizes EnPro's asbestos claims resolution process, which involves using bankruptcy protection for its Garlock Sealing Technologies subsidiary to establish a trust that would resolve all current and future asbestos claims. The process is progressing on track according to the timeline presented, with the goal of confirming the plan and reconsolidating Garlock Sealing Technologies into EnPro.
Deutsche Bank presented at a 2007 leveraged finance conference. The presentation discussed Deutsche Bank's product portfolio, customer base, and the impacts of the economic downturn on various industries including commercial vehicles, housing, and freight. Charts were shown on expected offsets to downturn that did not materialize as well as declining trailer sales, truck tonnage, and class 8 truck orders reflecting weakness in freight volumes and construction exacerbated by the credit crunch.
Deutsche Bank 2007 Leveraged Finance Conference presentation by Jim Donlon and Mary Lehmann of ArvinMeritor discusses:
1) Weakness in the US truck market due to economic slowdown and credit crunch affecting sales and production volumes.
2) Supply chain challenges in Europe from unexpected surge in demand, requiring premium freight and tight capacity.
3) Outlook for 2008 is lowered from 2007 due to ongoing operational issues and non-recurring charges, but medium-term investment thesis remains intact with cost savings plans and growth in commercial vehicle markets.
Lear Corporation held its annual meeting of stockholders on May 8, 2008. The agenda included presentations on major 2007 accomplishments, 2007 financial results and 2008 outlook, and corporate strategy and summary. For 2007 accomplishments, Lear highlighted significant restructuring progress, improved financial results and balance sheet strengthening, divesting its North American Interior business, and maintaining quality and innovation momentum. Lear's 2008 outlook projected net sales of approximately $15.5 billion and core operating earnings between $660-700 million, despite a forecasted 6% decline in North American auto production for the year. Lear's strategy focuses on leveraging its global scale and diversification to strengthen performance.
The document summarizes Lear Corporation's presentation at the 2006 Paris Auto Show JPMorgan Investor Conference. It discusses Lear's strategic evolution from an automotive seat manufacturer to an interior systems supplier. It also reviews Lear's financial performance, global competitiveness improvements through restructuring initiatives, new product innovations, and customer awards. Major launches for the second half of 2006 and 2007 are highlighted for North America, Europe, and Asia.
The document summarizes the company's FY 2007 fourth quarter earnings presentation. It discusses financial results for Q4 and full year 2007, including earnings per share, sales, costs, margins and cash flow. Key highlights were earning $0.53 per share for the full year, completing restructuring actions, and providing guidance of $1.40-$1.60 EPS for 2008. Challenges in meeting European commercial vehicle demand were outlined along with actions to address issues.
Experience Mazda Zoom Zoom Lifestyle and Culture by Visiting and joining the Official Mazda Community at http://www.MazdaCommunity.org for additional insight into the Zoom Zoom Lifestyle and special offers for Mazda Community Members.
Emissions Technologies announced it has reached an agreement to sell its Emissions Technologies business to One Equity Partners for $310 million. The transaction is expected to close in the third fiscal quarter of 2007. The sale will allow ArvinMeritor to focus on its core businesses of chassis, drivetrain and apertures. ArvinMeritor provided an outlook for fiscal year 2007 following the sale, expecting sales of $5.9-6.1 billion and diluted EPS of $1.00-1.10.
Emissions Technologies announced it has reached an agreement to sell its Emissions Technologies business to One Equity Partners for $310 million. The transaction is expected to close in the third fiscal quarter of 2007 pending regulatory approvals. The divestiture will allow ArvinMeritor to focus on its core businesses of chassis, drivetrain and apertures. ArvinMeritor provided an outlook for fiscal year 2007 following the divestiture with estimated sales of $5.9-6.1 billion and diluted EPS of $1.00-1.10.
CMC is a global steel and metals company with over 14,000 employees worldwide. It manufactures, recycles, markets, and distributes steel and metal products through a network of over 200 locations globally. CMC operates steel minimills, fabrication plants, service centers, and recycling facilities. It aims to be vertically integrated and diversified in its product offerings and geographic reach.
The document provides an overview of CMC's business model which focuses on vertical integration, product diversification, and global geographic dispersion. It then discusses CMC's current market conditions and outlook across different geographic regions and product lines, including details on earnings expectations, capital investment projects, and quarterly financial statistics. The document also reviews factors influencing costs and selling prices for CMC's various steel manufacturing operations in North America.
The document provides an overview of CMC, a global steel and metals company. It discusses CMC's business model which focuses on vertical integration, product diversification, and global geographic dispersion. It also summarizes CMC's track record of conservative management and 30 consecutive years of profitability. Finally, it outlines CMC's five operating segments and overall strategy of achieving a global reach through regional focus and growth in key markets.
CMC is a global steel and metals company with over 14,000 employees worldwide. It manufactures, recycles, markets, and distributes steel and metal products through a network of over 200 locations globally. CMC operates steel minimills, fabrication plants, service centers, and recycling facilities. It aims to vertically integrate its operations from scrap processing to steel fabrication to provide a hedge against steel and metal price fluctuations.
The document provides an overview of CMC's business model, current market conditions, earnings results, and operational metrics for the third quarter of 2008. It discusses CMC's strategy of vertical integration, product diversification, and global geographic dispersion. It also reviews earnings, sales, margins, capital investments, and performance across CMC's different business segments.
The document provides an overview of CMC's business model, current market conditions, earnings results, and operational metrics for the third quarter of 2008. It discusses CMC's strategy of vertical integration, product diversification, and global geographic dispersion. It also reviews demand trends, input costs, earnings, investments, segment performance, and operational details.
This document provides an overview of Commercial Metals Company (CMC) and its quarterly performance. It discusses CMC's business model, including its vertical integration and product and geographic diversification. It also summarizes CMC's financial performance from 2003-2007, highlighting increasing sales, earnings, and shareholder returns over that period. Current market conditions and CMC's outlook are briefly addressed.
The document provides an overview of CMC's business model and current market conditions for the 4th quarter of 2008. It summarizes CMC's key business segments, product lines, capital projects, financial statistics, and discusses challenges in the global steel market including falling prices, reduced demand, and excess inventory. It analyzes factors such as raw material costs, sales prices, margins, and operating profits across CMC's divisions.
The document provides an overview of CMC's business model and current market conditions for the 4th quarter of 2008. It summarizes CMC's key business segments, current projects, liquidity position, financial statistics, and discusses challenges in the global steel market including falling prices, reduced demand, and excess inventory. It analyzes performance and outlook for CMC's Americas and international operations.
This document summarizes notes from the 4th Annual Global Steel CEO Forum held by Goldman Sachs on December 4, 2008. It discusses the current challenging market conditions for the steel industry due to the global liquidity crisis, including falling prices, production cutbacks, and declining demand. Updates are provided on conditions and outlook for different markets, including further price declines and inventory reductions in North America, continued cutbacks and oversupply in Europe and the Middle East, and China's efforts to stimulate domestic demand and infrastructure spending to boost its economy and steel demand. Breaking the negative cycle depends on the effectiveness of global government intervention programs and restoration of confidence.
The document discusses how Commercial Metals Company (CMC) is different from other steel companies. It notes that CMC focuses on long steel products, has diversified its business across five segments including steel mills, fabrication, recycling, and marketing, and has a track record of consistent profitability and financial strength over 26 years. The document aims to show investors that CMC's strategy and performance set it apart from other steel industry firms.
The document discusses how Commercial Metals Company (CMC) is different from other steel companies. It notes that CMC focuses on long steel products, has diversified its business across five segments including steel mills, fabrication, recycling, and marketing, and has a track record of consistent profitability and financial strength over 26 years. The document aims to show investors that CMC's strategy and performance set it apart from other steel industry firms.
The document discusses how Commercial Metals Company (CMC) is different from other steel companies. It notes that CMC focuses on long steel products, has diversified its business across five segments including steel mills, fabrication plants, recycling, and marketing/distribution, and has a track record of consistent profitability and financial strength over 26 years. The document aims to show shareholders that CMC's business strategy and performance set it apart from other steel industry firms.
This document is Commercial Metals Company's 2005 Annual Report. It summarizes the company's financial performance for fiscal year 2005, including record net earnings of $286 million on net sales of $6.6 billion, up from $132 million on $4.8 billion the previous year. It discusses positive results across the company's business segments, including Domestic Mills, Domestic Fabrication, Recycling, and Marketing & Distribution. The annual report also provides an overview of the company's operations, strategic focus on vertical integration, and capital expenditure plans.
This document is the 2005 annual report for Commercial Metals Company. It summarizes the company's financial performance for fiscal year 2005, which saw record net earnings of $286 million on net sales of $6.6 billion, up from $132 million on $4.8 billion the previous year. The company's domestic mills and fabrication segments significantly outperformed the prior year due to higher steel prices and strong end-user demand. While operations in Poland saw a decline from the prior year, performance improved in the fourth quarter. Overall, the company benefited from favorable market conditions across most of its businesses.
This document is Commercial Metals Company's 2005 Annual Report which summarizes the company's financial performance for fiscal year 2005. Some key points:
- The company achieved record net earnings of $286 million on record net sales of $6.6 billion in fiscal year 2005, up from $132 million in net earnings on $4.8 billion in net sales in fiscal year 2004.
- All of the company's business segments - Domestic Mills, Domestic Fabrication, Recycling, and Marketing & Distribution - experienced strong financial performance and profitability in 2005.
- The company continued its strategy of vertical integration and diversification which has helped it perform well in changing market conditions.
- For
This annual report summarizes Commercial Metals Company's financial performance in fiscal year 2006. Some key points:
- Record net earnings of $356 million on $7.6 billion in net sales, up from $286 million on $6.6 billion the prior year.
- All five business segments (domestic mills, CMCZ, domestic fabrication, recycling, and marketing/distribution) performed well due to favorable market conditions and the company's vertical integration strategy.
- Domestic mills set new records for sales, production, and shipments as metal spreads increased. The copper tube mill's operating profit increased significantly year-over-year.
This annual report summarizes Commercial Metals Company's financial performance in fiscal year 2006. Some key points:
- Record net earnings of $356 million on $7.6 billion in net sales, up from $286 million on $6.6 billion the prior year.
- All five business segments (domestic mills, CMCZ, domestic fabrication, recycling, and marketing/distribution) performed well due to favorable market conditions and the company's vertical integration strategy.
- Domestic mills set production and shipment records while benefiting from high metal spreads. CMCZ also improved significantly through organizational changes and new investments.
Commercial Metals Company reported record financial results for fiscal year 2006 with net sales of $7.6 billion, net earnings of $356 million, and diluted earnings per share of $2.89. All five of CMC's business segments performed well, with domestic steel mills, CMCZ (the Polish steel operation), and recycling being especially strong. Market conditions were favorable, especially for non-residential construction, and CMC executed well. The company also invested in new facilities, acquisitions, and branding initiatives. CMC has high confidence in its future due to the continued expected strength of its end markets and its vertically integrated business model.
Commercial Metals Company had a profitable year in 2007, approaching the record profits of 2006. The company made several strategic acquisitions, announced plans to build a new micro mill, and reorganized internally to take advantage of growth opportunities. All five of the company's business segments performed well. Safety remains a major focus.
"Does Foreign Direct Investment Negatively Affect Preservation of Culture in the Global South? Case Studies in Thailand and Cambodia."
Do elements of globalization, such as Foreign Direct Investment (FDI), negatively affect the ability of countries in the Global South to preserve their culture? This research aims to answer this question by employing a cross-sectional comparative case study analysis utilizing methods of difference. Thailand and Cambodia are compared as they are in the same region and have a similar culture. The metric of difference between Thailand and Cambodia is their ability to preserve their culture. This ability is operationalized by their respective attitudes towards FDI; Thailand imposes stringent regulations and limitations on FDI while Cambodia does not hesitate to accept most FDI and imposes fewer limitations. The evidence from this study suggests that FDI from globally influential countries with high gross domestic products (GDPs) (e.g. China, U.S.) challenges the ability of countries with lower GDPs (e.g. Cambodia) to protect their culture. Furthermore, the ability, or lack thereof, of the receiving countries to protect their culture is amplified by the existence and implementation of restrictive FDI policies imposed by their governments.
My study abroad in Bali, Indonesia, inspired this research topic as I noticed how globalization is changing the culture of its people. I learned their language and way of life which helped me understand the beauty and importance of cultural preservation. I believe we could all benefit from learning new perspectives as they could help us ideate solutions to contemporary issues and empathize with others.
Independent Study - College of Wooster Research (2023-2024) FDI, Culture, Glo...AntoniaOwensDetwiler
"Does Foreign Direct Investment Negatively Affect Preservation of Culture in the Global South? Case Studies in Thailand and Cambodia."
Do elements of globalization, such as Foreign Direct Investment (FDI), negatively affect the ability of countries in the Global South to preserve their culture? This research aims to answer this question by employing a cross-sectional comparative case study analysis utilizing methods of difference. Thailand and Cambodia are compared as they are in the same region and have a similar culture. The metric of difference between Thailand and Cambodia is their ability to preserve their culture. This ability is operationalized by their respective attitudes towards FDI; Thailand imposes stringent regulations and limitations on FDI while Cambodia does not hesitate to accept most FDI and imposes fewer limitations. The evidence from this study suggests that FDI from globally influential countries with high gross domestic products (GDPs) (e.g. China, U.S.) challenges the ability of countries with lower GDPs (e.g. Cambodia) to protect their culture. Furthermore, the ability, or lack thereof, of the receiving countries to protect their culture is amplified by the existence and implementation of restrictive FDI policies imposed by their governments.
My study abroad in Bali, Indonesia, inspired this research topic as I noticed how globalization is changing the culture of its people. I learned their language and way of life which helped me understand the beauty and importance of cultural preservation. I believe we could all benefit from learning new perspectives as they could help us ideate solutions to contemporary issues and empathize with others.
when will pi network coin be available on crypto exchange.DOT TECH
There is no set date for when Pi coins will enter the market.
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Lecture slide titled Fraud Risk Mitigation, Webinar Lecture Delivered at the Society for West African Internal Audit Practitioners (SWAIAP) on Wednesday, November 8, 2023.
where can I find a legit pi merchant onlineDOT TECH
Yes. This is very easy what you need is a recommendation from someone who has successfully traded pi coins before with a merchant.
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Turin Startup Ecosystem 2024 - Ricerca sulle Startup e il Sistema dell'Innov...Quotidiano Piemontese
Turin Startup Ecosystem 2024
Una ricerca de il Club degli Investitori, in collaborazione con ToTeM Torino Tech Map e con il supporto della ESCP Business School e di Growth Capital
BONKMILLON Unleashes Its Bonkers Potential on Solana.pdfcoingabbar
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Let's be real for a second – the world of meme coins can feel like a bit of a circus at times. Every other day, there's a new token promising to take you "to the moon" or offering some groundbreaking utility that'll change the game forever. But how many of them actually deliver on that hype?
What price will pi network be listed on exchangesDOT TECH
The rate at which pi will be listed is practically unknown. But due to speculations surrounding it the predicted rate is tends to be from 30$ — 50$.
So if you are interested in selling your pi network coins at a high rate tho. Or you can't wait till the mainnet launch in 2026. You can easily trade your pi coins with a merchant.
A merchant is someone who buys pi coins from miners and resell them to Investors looking forward to hold massive quantities till mainnet launch.
I will leave the what's app number of my personal pi vendor to trade with.
+12349014282
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I'll provide you the what'sapp number.
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Abhay Bhutada, the Managing Director of Poonawalla Fincorp Limited, is an accomplished leader with over 15 years of experience in commercial and retail lending. A Qualified Chartered Accountant, he has been pivotal in leveraging technology to enhance financial services. Starting his career at Bank of India, he later founded TAB Capital Limited and co-founded Poonawalla Finance Private Limited, emphasizing digital lending. Under his leadership, Poonawalla Fincorp achieved a 'AAA' credit rating, integrating acquisitions and emphasizing corporate governance. Actively involved in industry forums and CSR initiatives, Abhay has been recognized with awards like "Young Entrepreneur of India 2017" and "40 under 40 Most Influential Leader for 2020-21." Personally, he values mindfulness, enjoys gardening, yoga, and sees every day as an opportunity for growth and improvement.
2. Forward-Looking Statements
This presentation contains statements relating to future results of the company (including certain projections and business
trends) that are “forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995. Forward-
looking statements are typically identified by words or phrases such as “believe,” “expect,” “anticipate,” “estimate,”
“should,” “are likely to be,” “will” and similar expressions. Actual results may differ materially from those projected as a
result of certain risks and uncertainties, including but not limited to global economic and market cycles and conditions; the
demand for commercial, specialty and light vehicles for which the company supplies products; risks inherent in operating
abroad (including foreign currency exchange rates and potential disruption of production and supply due to terrorist attacks
or acts of aggression); availability and cost of raw materials, including steel; OEM program delays; demand for and market
acceptance of new and existing products; successful development of new products; reliance on major OEM customers;
labor relations of the company, its suppliers and customers, including potential disruptions in supply of parts to our facilities
or demand for our products due to work stoppages; the financial condition of the company’s suppliers and customers,
including potential bankruptcies; possible adverse effects of any future suspension of normal trade credit terms by our
suppliers; potential difficulties competing with companies that have avoided their existing contracts in bankruptcy and
reorganization proceedings; successful integration of acquired or merged businesses; the ability to achieve the expected
annual savings and synergies from past and future business combinations and the ability to achieve the expected benefits
of restructuring actions; success and timing of potential divestitures; potential impairment of long-lived assets, including
goodwill; competitive product and pricing pressures; the amount of the company’s debt; the ability of the company to
continue to comply with covenants in its financing agreements; the ability of the company to access capital markets; credit
ratings of the company’s debt; the outcome of existing and any future legal proceedings, including any litigation with
respect to environmental or asbestos-related matters; rising costs of pension and other post-retirement benefits and
possible changes in pension and other accounting rules; as well as other risks and uncertainties, including but not limited to
those detailed herein and from time to time in other filings of the company with the SEC. These forward-looking
statements are made only as of the date hereof, and the company undertakes no obligation to update or revise the
forward-looking statements, whether as a result of new information, future events or otherwise, except as otherwise
required by law.
2
3. Agenda
8:30 Chip McClure – Overview
8:40 Rakesh Sachdev – The ArvinMeritor Portfolio
8:50 Business Groups
• Carsten Reinhardt – Commercial Vehicle Systems
• Phil Martens – Light Vehicle Systems
• Buddy Wacaser – Emissions Technologies
9:40 Break
10:00 Performance Plus
• Jay Craig – Performance Plus
• Carsten Reinhardt – Operational Excellence
• Phil Martens – Commercial Excellence
10:50 Jim Donlon – Financial Review
11:00 Chip McClure – Closing Remarks
11:10 Question and Answer Session
3
4. Overview
Commitments Kept
Goals from 2005 Analyst Day
Goal Delivery Actual Result
Sales of $8.5 - $8.6 billion $9.2 billion
EPS of $1.50 - $1.70 $1.78
Operating income of $250 - $265 million $262 million
Free cash flow of $100 - $150 million $284 million
$501 million
Improve balance sheet
reduction in net debt
4
5. Overview
Diverse Customer Base
Commercial Vehicle Customers Light Vehicle Customers
DaimlerChrysler
Other CVS
10%
15%
Volkswagen 1%
53%
Volkswagen
General Motors 1%
Light
10%
Fiat 2%
Vehicles
PACCAR 2%
General Motors
Ford 3%
9%
International 3%
Asia-Based
OEMs 3% Ford 7%
DaimlerChrysler
Asia-Based
47% 8%
Fiat 3% OEMs 3%
Commercial Volvo 9%
BMW 2%
Other LVS
Vehicles
9%
5
6. Overview
Geographic/Customer Mix
of 2006 Sales
Asian OEMs Asian OEMs
North
and ROW * and ROW *
America
15% 23%
47%
Europe and
European- Europe and
North
based OEMs* European-
America
38% based OEMs*
44%
33%
+ Non-Consolidated
Consolidated
Joint Ventures
Revenue
* Includes local operations of companies
headquartered in North America and Europe
6
7. Overview
2005 Restructuring Program Update
Original Program to
($ million) Update
Estimate Date
Restructuring Costs $135 $127 $132
Cash Restructuring $110 $99 $105
Run-rate annual benefits $50-60 $50 $60-65
• Goals of this program have been achieved
• Benefits to date have offset negative effect of raw materials prices,
production volumes and customer pricing
• Incremental benefits in 2007 will partially offset stainless steel pricing
7
8. Overview
Today’s Challenges
• North America 2007 Class 8 truck downturn
• Light vehicle production cuts in North America
• Pricing pressures
• Increased material costs
It’s Not Going to Get Any Easier
8
9. Overview
Today’s Opportunities
• Booming growth in Asia
• Some competitors weakened
• Systems-based solutions
• Strong balance sheet and liquidity – a must during these
turbulent times
The Best Will Rise To the Top
9
10. Overview
Medium-Term Goals
• 1/3 – 1/3 – 1/3 regional business mix
• Triple sales in Asia
• Triple the size of Aftermarket business
• Grow organically where margins are good
• Achieve ROIC of 13 – 15 percent
Growth with a Purpose
10
11. Overview
New Leadership Team
Rob Ostrov, Phil Martens, Jay Craig
Sr. VP HR President, LVS VP and
Controller
H. H. “Buddy” Wacaser, Carsten Reinhardt,
President, ET President, CVS
Strong Leaders to Reshape Our Future
11
12. Overview
Performance Plus
• Operational Excellence
– Make efficient use of assets
• High utilization
• Optimal footprint
– Relentlessly improve costs
• Best scale
• Best supply base
• Best process
– No stone left unturned
• Commercial Excellence
– Pursue opportunities: right products, right technologies, and in the
right global markets
• Become a boundary-less organization
• Achieve and sustain an industry leading cost and technology position
12
13. Overview
How is the Program Structured?
Goal
Top Quartile Financial Performance Among Peer Companies
Steering Committee
J. Craig J. Donlon P. Martens R. Ostrov C. Reinhardt R. Sachdev
Operational Excellence Commercial Excellence
Approach
Cost Improvements Revenue Enhancement
Product
Aftermarket
Materials Mfg. Overhead ER&D Growth
C. C.
Sponsors J. Craig P. Martens P. Martens J. Craig
Reinhardt Reinhardt
Talent Excellence
Foundation
Sponsor: R. Ostrov
Program Office
Sponsors: J. Craig and J. Donlon
13
15. The ArvinMeritor Portfolio
Our Vision for Growth and Profitability
• Be a global systems
leader in our target
Mobility
markets
• Build product
technology and develop
capabilities that are
Safety
scalable across markets
• Profitably commercialize
our solutions to
customers’ growing
needs
Environment
15
16. The ArvinMeritor Portfolio
Be a Global Systems Leader in Our
Target Markets
Examples of
Body and
Vehicle
Vehicle Emissions evolving system
Control
Propulsion
Stability
opportunities
Em
INTEGRATED
er
gin
SYSTEMS
gm
ts
Functional Mechanical
ke
ar
ar
ke
SUBSYSTEMS
m
ts
d
(e
e
op
g.
Systems Modules
l
As
ve
ia
De
Pa
cif
COMPONENTS
i
c)
Functional Manufacturing
Value and Packaging
Decreased
Increased
Cost
Technology
OEM Trends
16
17. The ArvinMeritor Portfolio
Build Product Technology and Development
Capabilities that are Scalable Across Market Segments
$ Billions
Total
Current
Illustrative
Addressable
Addressable
ARM
Market
Market
Systems Components
Brake
Vehicle Suspension
$100
$35
$2.2
Steering
Stability
Wheels
Transmission
Vehicle Driveshafts
$130
$6
$2.3
Drive Axle
Propulsion
Alternative Power
Manifold
Vehicle
$14
$14
$2.6
Silencing
Emissions Emissions
Door Modules
Vehicle Roof Modules
$33
$24
$1.0
Regulators
Apertures
Latches
17
18. The ArvinMeritor Portfolio
Growth from Category Cross-Over
Crossing the Boundary
- Leverage technology
- Utilize capacity
- Innovate for leadership
Light Vehicles Commercial Vehicles
Steel wheels Medium truck wheels
Car and light truck axles Drive axles
and modules
DPFs, converters Commercial diesel emissions
Window regulators, door Truck and specialty vehicle
modules doors
Future State: Eliminate Boundaries
18
19. The ArvinMeritor Portfolio
Portfolio of Businesses
Wheels
Axles
Average
Doors
Above
Brakes Emerging
Emerging
Markets
Aftermarket
Markets
Trailers
Margins
Specialty
Average
Below
LV Emissions CV Emissions
Roofs New
New
Stars
Stars
Low High
Growth
19
21. Commercial Vehicle Systems
Historical Perspective
Revenues Operating Margins before special items
$ Billions Percent
4.1 4.3
7.6% -250 bp
+50%
3.2
2.9 5.3% 5.2% 5.2%
4.8%
2.4
2.2 2.3 4.1%
2.0%
2000 ‘01 ‘05 2006 2000 ‘01 ‘05 2006
‘02 ‘03 ‘04 ‘02 ‘03 ‘04
Strong Sales Growth, but Severe Margin Compression
21
22. Commercial Vehicle Systems
Observations: Strengths
• Ability to significantly offset North America Class 8
downturn
• Solid business portfolio with growth opportunities
– CVA
– Specialty
– Trailers
• Diversified customer base
• Strong global position
– Significant operations in every major market
– Leadership positions in North America
• Direct investment and JVs in China and India
22
23. North America Class 8 Volumes
(Thousands of vehicles)
FY2007 = 235K vehicles FY2008 = 250K vehicles
310
85
70 70
65 220
60
55
50
50
45
35
FY2009 FY2010
Q2 Q3 Q4 Q1
Q1 Q2 Q3 Q4
Q2 Q3 Q4 Q1
CY2007 = 200K Vehicles
OE/Supplier Forecasts
Calendar Year 2007
Average 211
High Est. 250
Low Est. 181
23
24. Commercial Vehicle Systems
Challenges and Opportunities
30%
North America Global 15%
Class 8 Aftermarket
(unit sales) (operating profit)
FY 2006 FY 2007
FY 2006 FY 2007
Europe Specialty
Medium/Heavy Vehicles
(unit sales) (operating margin)
FY 2006 FY 2007
FY 2006 FY 2007
200%
Asia/Pacific Trailer Products
30%
(ARM sales in (operating profit)
millions)
FY 2006 FY 2007
FY 2006 FY 2007
High-Volume
South America 6%
Premiums
(ARM sales in (layered-capacity and 50%
millions) premium freight)
FY 2006 FY 2007 FY 2006 FY 2007
24
25. Commercial Vehicle Systems
CVS Customer Portfolio
FY2006
Sales = $4.25B
Volvo
19%
Other CVS
32%
Freightliner
Total Company
17%
CVS=47%
of sales
Volkswagen
2%
General Asia-Based
Motors 2% OEMs
Fiat 6%
International
PACCAR Ford
4% 6%
4% 6%
25
26. Commercial Vehicle Systems
Top Platforms
Top 15 Platforms Key Vehicles
Volvo Trucks HD FH, FH16
Freightliner Class 8 Coronado, Century S/T, Columbia
GMT 800/900 Silverado, Sierra, Tahoe, Suburban
Renault Trucks HD Premium, Magnum
Opel Epsilon/3000 Vectra, Zaphira
Mack/Volvo Class 8 VT, VN, Pinnacle, Vision
VW PQ34/35 Golf, Touran, Audi A1, Skoda Octavia
International Class 8 ProStar, 8000 Series, 9000 Series
VW PQ24/25 Polo, Ibiza, Audi A2, Skoda Fabia
Fiat 194 Croma
VW PL71 Touareg
Mercedes W211 E-Class
Ford B2 Fiesta, European Fusion
International MD 4000 Series, CF Series
Ford P131 SuperDuty F-Series
26
27. Commercial Vehicle Systems
Geographic Mix of Sales
Asian OEMs
and ROW
13%
North
Europe America
25% 62%
Room to Grow Outside North America
27
28. Commercial Vehicle Systems
CVS Operations in China and India
India:
• Technical Center, Bangalore
– Engineering, IT and procurement
• Automotive Axles Ltd., Mysore
– Axles, brakes, housings and components
• Meritor HVS India Ltd., Mysore
– Product and application engineering, assembly,
marketing and sale of axle and brake products
China:
• Pudong
– Axle assembly
• Shanghai
– Corporate office
• Wuxi
– Trailer axles and suspension systems
• ArvinMeritor FAW Sihuan (Changchun) Vehicle
Brake Co. Ltd.
– Brakes
• Xuzhou Meritor Axle Co. Ltd.
– Axles for off-highway vehicles, brakes
• Meritor Huayang Braking Co. Ltd. (Shanghai)
– Brakes
28
29. Commercial Vehicle Systems
Observations:
Opportunities to Improve
• Focus on manufacturing excellence and execution
• Optimize manufacturing footprint to increase capacity
utilization
• Build on strong market positions and growing segments
• Strengthen product design and development
• Aggressively pursue profitable growth opportunities in
emerging markets
29
30. Commercial Vehicle Systems
Top Priorities
Rigorous A Greater
Profitable
Manufacturing
Cost Stronger Product
Excellence Growth
Reduction Team Focus
30
32. Light Vehicle Systems
Observations: Strengths
• Fully capable Tier One global supplier
• Improved competitive cost position from rationalization
and refocusing efforts
– Leading cost competitive country sourcing and operations
• Expanded market bandwidth with
profitable products in profitable regions
– Door Systems in China
– Medium-duty wheels expansion in Mexico
• New technology under development
– Conversion from mechanical to electronic
– Chassis system products
32
33. Light Vehicle Systems
Observations: Opportunities
to Improve
• Accelerate • Further expansion into China and
Door Eastern Europe
establishment of low- • Enter Indian market -- underway
Systems • Emphasis on electronic system controls
cost, lean operations • Deliver global OEM program
Roof
– Manufacturing • Move capacity to leading cost
competitive regions
Systems
– Supply base • Leverage technology expertise from
Audi Q7 large-opening roof module
• Transform business • Exploit engineering and manufacturing
Chassis capabilities
model with emphasis Systems • Use new technologies to capture systems
opportunities
on systems integration • Expedite entry into Asia Pacific
Wheels • Broaden market with medium- and
heavy-duty wheels
Building an Entrepreneurial Start-Up Company Mindset
33
34. Light Vehicle Systems
Observations: Opportunities
to Improve
• Continue to emphasize organic growth in
Asia Pacific and with Asian OEMs
• New business awards have been granted for:
– Door modules
– Latches/motors
– Wheels
– Roof modules
• Increased capacity being installed to
meet demand
Sales with Improved Margins Up 25 Percent in China
34
35. Light Vehicle Systems
Top Platforms
Top 15 Light Veh. Platforms Key Vehicles
GMT 800/900 Silverado, Sierra, Tahoe, Suburban
Opel Epsilon/3000 Vectra, Zaphira
VW PQ34/35 Golf, Touran, Audi A1, Skoda Octavia
VW PQ24/25 Polo, Ibiza, Audi A2, Skoda Fabia
Fiat 194 Croma
VW PL71 Touareg
Mercedes W211 E-Class
Ford B2 Fiesta, European Fusion
#2 LVS
Ford P131 SuperDuty F-Series
platform
Hyundai NF/CM Santa Fe, Sonata
by sales
DCX RS/RT Town and Country, Caravan
Toyota 296N Avensis, Corolla
Renault C Megane, Scenic
Dodge DR-DE Ram
Ford C1 Focus, C-MAX, Volvo S40/V50
Top Platforms Demonstrate Global Diversification
35
36. Light Vehicle Systems
Geographic Mix of Sales
Asian OEMs
and ROW
30%
North
America
30%
Europe
40%
Expand Higher Margin Products Into Other Regions
36
37. Light Vehicle Systems
Top Priorities
Rigorous A Greater
Profitable
Manufacturing
Cost Stronger Product
Excellence Growth
Reduction Team Focus
37
38. Light Vehicle Systems
Outlook
• 2007 will be a difficult year
due to North American market
conditions and continued
pressure from material
economics
• Announced LVS restructuring
plans are on track, on time,
on budget
• Future restructuring under
evaluation
• Asia Pacific continues to be an
area of profitable organic
growth
38
40. Emissions Technologies
Observations: Strengths
• Good products in a growing segment
– Sold more than 3 million Diesel Particulate Filters (DPF)
to date, mostly in Europe
– Opportunity to grow catalytic converter business in
North America
– Commercial Vehicle Emissions in production and
launching more products
• Good customer relationships
– Good geographic mix
– Leadership positions in most segments
40
41. Emissions Technologies
Observations:
Opportunities to Improve
• Inadequate profitability
• Improvement areas:
– Staff efficiency
– Lower-cost footprint
– Optimize match between plants and products
– Improve and standardize process
41
42. Emissions Technologies
Top Platforms
Top 15 Light Veh. Platforms Key Vehicles
GMT 800/900 Silverado, Sierra, Tahoe, Suburban
Opel Epsilon/3000 Vectra, Zaphira
VW PQ34/35 Golf, Touran, Audi A1, Skoda Octavia
VW PQ24/25 Polo, Ibiza, Audi A2, Skoda Fabia
Fiat 194 Croma
VW PL71 Touareg
Mercedes W211 E-Class
Ford B2 Fiesta, European Fusion
Ford P131 SuperDuty F-Series
Hyundai NF/CM Santa Fe, Sonata
DCX RS/RT Town and Country, Caravan
Toyota 296N Avensis, Corolla
Renault C Megane, Scenic
Dodge DR-DE Ram
Ford C1 Focus, C-MAX, Volvo S40/V50
Six of Top Seven Platforms are in Europe
42
43. Emissions Technologies
Geographic Mix of Sales
Asian OEMs
and ROW
8%
North
+ Arvin Sango
America
and Sejong JVs:
41%
28%
Europe
51%
Very Good Global Mix Including Non-Consolidated JVs
43
44. Emissions Technologies
Challenges and
Market Opportunities
Challenges
• Stainless steel prices – new headwind in 2007 compared
to 2006
• Production cuts at key customers
Market Opportunities
• Commercial Vehicle Emissions
• Other regulatory changes
• Growth in Asia
44
45. Emissions Technologies
Top Priority: Restructuring
Took Immediate Action
• Eliminated 80 salaried positions
– Targeting a total of 110 by March
– This action pre-dated the ET restructuring program
• Benefits (about $9 million) included in 2007
guidance
45
46. Emissions Technologies
Details of Restructuring Program
• Costs of about $50 million
• The cost of this program will be evenly incurred over the
next four years
• Expected to affect at least 800 positions
• North America plant-product optimization, opening plant in
Mexico in 2007
• Transition production from Western to Eastern Europe
• Develop model plants for operational excellence
– Reorganize tooling/manufacturing engineering
– Standardize processes and equipment
• Evaluate vertical integration opportunities
46
49. Performance Plus
FY 2007 Outlook
Continuing Operations Before Special Items
FY 2006 FY 2007
Full Year Full Year Outlook (1)
- $ 8,900
Sales $ 9,195 $ 8,700
-
Operating Margin 2.8% 2.2% 2.4%
-
Interest Expense $ (124) $ (105) (112)
-
Tax Rate 20.0% 21.0% 24.0%
Income from Continuing -$
$ 125 $ 82 89
Operations
-$
Diluted Earnings Per Share $ 1.78 $ 1.15 1.25
-$
Free Cash Flow $ 284 $ 75 125
(1) Excluding gains or losses on divestitures, restructuring costs, and other special items
49
50. Performance Plus
2007 Outlook Compared to 2006
Estimated EPS (1)
FY 2006 Result $1.78
Volume
North American Class 8 Downturn $(0.45) - $(0.60)
Q1 Big Three Production Cuts (0.15) - (0.20)
Other Volume/Mix (0.30) - (0.45)
Higher Net Steel Costs (0.25) - (0.35)
Restructuring Savings 0.25 - 0.30
Lower Pension and Retiree Medical Expense 0.05 - 0.10
All Other Improvements 0.40 - 0.50
FY 2007 Guidance Range $1.15 - $1.25
(1) Excluding gains or losses on divestitures, restructuring costs, and other special items
50
51. Performance Plus
Performance Plus is the Answer
• Fundamentally transform the company’s earnings power
• Includes operational and commercial elements – not just a
cost reduction program
• Global scope – the world is our opportunity
• Led by team effort of top officers of the company
• Have engaged a premier global consulting firm to assist us
51
52. Performance Plus
Project Approach and Timing
Design
Set Targets
Implement
Improvement
Initiatives Initiatives
Time
Nov. – Dec. 2006 Jan. – Dec. 2007 Jan. 2007 – Dec. 2009
Span
• Set overall work • Generate/identify • Implement initiatives
Main module targets improvement • Track realization of
Tasks measures
• Plan work modules potential
in detail • Assign • Institutionalize tools
responsibility and
• Create baseline and and methods
timeline
tracking approach
• Implement quick
wins
52
53. Performance Plus
Pillars of Performance
Top Quartile Financial Performance
Among Peer Companies
Manufacturing
Aftermarket
Overhead
Materials
Product
Growth
ER&D
Talent Excellence
53
54. Performance Plus
Baseline EBITDA
$ Millions Before Special Items
$600
$475-$535
$456
$500 $410-$455
$375-$405
$400
$300
$200
$100
$0
FY 2006 FY 2007 FY 2008 FY 2009
Actual Baseline Baseline Baseline
54
55. Performance Plus
Performance Plus
Profit Improvements
$ Millions
COST
Reduce 8%-10%
~$350-$450
Elements $5 Billion Base
(Addressable Costs)
REVENUE Grow $1.2 Billion
~$50-$150
7-13% Margins
Elements
Improvement ~$400-$600
Risk (250)
Net $150-$350
55
56. Performance Plus
Performance Plus
High-Confidence Improvement
Before special items
2006 2007 2008 2009
Baseline EBITDA $456 $375-$405 $410-$455 $475-$535
High-Confidence
EBITDA $75 $150
Planning
Assumption
Total EBITDA $456 $375-$405 $485-$530 $625-$685
56
57. Performance Plus
What Impact Will it Have in 2007?
• Fast-start actions include shared services, axle-yoke
reengineering, rationalizing engineering footprint and
broadening remanufacturing
• Benefits in 2007 are expected to pay for initial investment
• Expected to include incremental restructuring
57
58. Performance Plus
Implementing the Initiative
Goal
Top Quartile Financial Performance Among Peer Companies
Steering Committee
J. Craig J. Donlon P. Martens R. Ostrov C. Reinhardt R. Sachdev
Operational Excellence Commercial Excellence
Approach
Cost Improvements Revenue Enhancement
Product
Aftermarket
Materials Mfg. Overhead ER&D Growth
C. C.
Sponsors J. Craig P. Martens P. Martens J. Craig
Reinhardt Reinhardt
Talent Excellence
Foundation
Sponsor: R. Ostrov
Program Office
Sponsors: J. Craig and J. Donlon
58
61. Operational Excellence
• Consolidate purchasing
activities to increase scale
• Renegotiate rigorously for
cost reductions
• Fully utilize value analysis/
value engineering tools
• Identify, qualify and source
leading cost competitive
suppliers
• Concentrate business with
key supplier partners
Material
Optimization
61
62. Axle Yoke Optimization
• Margins pressured by rising costs
2005 & 2006 Driveline Engineering
Cost Savings Thermometer
• Redesigned part for equivalent $3,200,000 GOAL
performance, reduced weight, $2,800,000
reduced machine time and lower $2,400,000
cost Target
$2,000,000
05-06
• Continue to manage/optimize and Achieved
$2,915,666
$1,600,000
Identified
leverage for new business
$1,200,000
New forging
$800,000
Old forging
13 lb.
23.4 lb.
$400,000
$-
e
62
63. Operational Excellence
• Optimize footprint
• Improve equipment utilization
• Fully institutionalize Six Sigma
and lean principles
• Leverage new technologies for
world-class efficiency
• Improve supply logistics and
flow
Manufacturing
63
64. Manufacturing Network
Optimization
• Drive pinion manufacturing in Morristown, TN
– Technology improvement: near net forging tooth
• Material, freight and labor savings $1.5M
• Downstream plant cycle-time savings of $0.6M
– Total manufacturing optimization savings: $2.1M
• Transfer Manning, SC driveline manufacturing to
Laurinburg, NC
– Annual savings of $1.4M
• Future projects to benefit from “boundary-less”
optimization
64
65. Operational Excellence
• Shared Services
• Integration of staffs and
consolidation of
corresponding facilities
• Purchased services
– Utilities
– Legal services
– Consulting, auditing and
transaction fees
Overhead – Waste disposal
65
66. Overhead
Shared Services
• Shared services approach used on a limited basis,
primarily in the U.S., for several years
– Accounts Payable
– Benefit administration
– Other administrative functions
• Increase number of centralized functions
– Consolidation
– Standardization
– Systemization
• Boundary-less organization
66
67. Overhead
Shared Services
• Launched Shared Services pilot program in partnership
with HCL
– Twenty Accounts Payable positions moved to Chennai,
India
• Achieved two-thirds cost and productivity improvement
• Based on success of pilot, looking to ramp up additional
activities throughout 2007
– Accounts Receivable, Payroll, Benefits
67
68. Performance Plus:
Commercial Excellence
Phil Martens
President, Light Vehicle Systems
68
69. Commercial Excellence
Aftermarket
Engineering
Product
Research and
Growth
Development
69
70. Product Growth
Changing Landscape
Global Light Vehicle Production Outlook
Western Central
North Europe Europe
America Asia
+6.4%
+1.0% Pacific
+1.3%
+9%
Middle East
& Africa
South +3.7%
America +5.4%
Source: CSM Worldwide light vehicle production by region (2006 – 2012)
70
71. Product Growth
Leverage Global Expertise
Engineering/Technical Centers
Eastern
Western
North America Europe
Europe
Engineers:
0
Engineers:
5 8 +50%
-10%
Engineers:
2
-15%
Engineers:
Asia
+100%
Pacific
South America
Engineers: 1
0%
Realigning Resources to Exploit Global
Market Opportunities
71
72. Commercial Excellence
• Grow profitability by
increasing revenues and
margins
– Right products
– Right technologies
– Right global markets
• Grow systems capabilities
globally
Product
Growth
72
73. Product Growth
Evolving from Products to Systems Will Increase
Our Value Add and Ability to Differentiate
Example: Passenger car suspension modules to vehicle stability systems
Mechanical integration Functional integration
$15 B $82 B
Total Addressable Market
Controls
$39 B
Braking
Steering
$28 B
Module market
Suspension
Components
ARM current
Suspension Integrated
Control System
Adjacent
Stability System
Components
• Modular assemblies • Electronic Control Unit
• Shocks • Modulator devices
• Stabilizer bars • Electronic components
• Springs • Algorithm/Software
73
74. Product Growth
Transforming ArvinMeritor
• Establish one regional office for Asia Pacific with technical
centers in India and China
• Aggressively pursue/manage
growth with focus on higher
margin product lines
• Execute strategy with one voice
• Announce regional leader
(at later date)
Asia Pacific Regional Focus
74
75. Commercial Excellence
• Achieve and sustain a
competitive cost and
technology position
• Deliver five “gotta have”
products from product
development pipeline
• Consolidate and leverage
corporate technical
capabilities to increase speed
Engineering
to market
Research and
Development
75
76. Engineering Research and Development
Transforming ArvinMeritor
• Establish one ArvinMeritor product development system
with global reach
• Combine CVS and LVS advanced engineering
activities under one management leadership
team to accelerate:
– Corporate technical capabilities
– Speed to market
– Systems engineering focus
• ArvinMeritor product development
organization announced January 2007
76
77. Engineering Research and Development
Low-Energy Release Latch
Production Patented Electro-
Competitive
Mechanical Mechanical Opportunity
Advantage
• Central lock • Non-Contact switches
• Extremely low release • All major OEM footprints
addressed with 3 designs
efforts (5%) compared
• Superlock • Reduced size and • Step-change in cost and
to current technology
• Passive lock/unlock improved water functionality
• Low noise
resistance • Unprecedented customer
• Electric child safety • Engineered handle feel
interest
and power release • Provides automatic
• Latch evolution
• 25 million latches failsafe manual release continues…
produced annually
Replace Current High Volume Mechanical Products
With Electronic Margin Products
77
78. Engineering Research and Development
Active Suspension Control
Modular Roll Control Systems
Adaptive Damping (Adaptive or Active)
Active Air Suspension
Less Complicated Chassis Systems
Delivering Better Performance
78
79. Engineering Research and Development
Alternative Powered Vehicles
• Unicell commercial pick-up and
delivery program
– Zero emissions and fossil fuel
consumption
– 10% increase in driver productivity
from vehicle enhancements
– Certification testing and
commercialization continue
• Growing driveline and electric axle
products through system integration
of motors, gears and controls
Advance Efforts to Participate in Rapidly-Emerging
Commercial Alternative Powertrain Vehicle Segment
79
82. Commercial Excellence
• ArvinMeritor has strong
position in North America
commercial vehicle
aftermarket and
remanufacturing segment
• High margin products that
we can expand rapidly
• Rest of world promises
significant growth
opportunities
Aftermarket
82
83. Aftermarket
North American Remanufacturing
Current Situation
• Existing business primarily in production-
based ArvinMeritor products
• One dedicated remanufacturing facility
– Plainfield, Indiana
• Multiple product capability
– Brake shoes
– Heavy-duty differential carriers
– Transmissions
– Hydraulic brake cylinders
• ISO Certified (per Aftermarket Remanufacturing Standard)
83
84. Aftermarket
Aftermarket Remanufacturing
Strategy
Expand NA Global
New
Product Offering Expansion
Products
Untapped
Existing Gain New Customer
Products Contract Segments
Business - Transit
- Government
New
Existing
Customers
Customers
Future Opportunities for Increasing Addressable Market
84
86. Aftermarket
Profitably Expand Aftermarket Service
and Support Business
AVENUES FOR EXPANSION
PREREQUISITE FOR SUCCESS
1. Expand product catalog
• Tier 1 alliances
OE
Presence
2. Develop profitable services
• Bolt-on operations (e.g.,
Remanufacturing)
3. Grow regionally
The Anatomy
• Follow emerging market
Of a
Successful
penetration
Aftermarket
• Alliances with local
Distribution
aftermarket
Brand Equity
Excellence
providers
Aftermarket Represents Significant Growth Opportunity
86
87. Financial Review
Jim Donlon
Senior Vice President and Chief Financial Officer
87
88. Financial Review
Q1 Earnings Historically Lower Than
Subsequent Quarters
EPS – Before Special Items
Q1 2006 Q2 2006 Q3 2006 Q4 2006 FY 2006
$0.17 $0.45 $0.76 $0.40 $1.78
Q1 2007 Q2 2007 Q3 2007 Q4 2007
Significantly Reduced Big Reduced Big Three Reduced Big Three Reduced Big Three
Three Production Production Production Production
Slightly Higher N.A. Heavy N.A. Heavy Truck Market N.A. Heavy Truck Market N.A. Heavy Truck Market
Truck Market Down Slightly Down Significantly Down Significantly
European Axle Launch
Costs
Higher Steel Costs Higher Steel Costs Higher Steel Costs
Increased Restructuring Increased Restructuring Increased Restructuring
Savings Savings Savings
Additional Aftermarket & Additional Aftermarket & Additional Aftermarket &
Asian Growth Asian Growth Asian Growth
Contribution Contribution Contribution
Moderate Productivity Stronger Productivity Stronger Productivity
Improvements Improvements Improvements
RED = Decreases
GREEN = Increases
88
89. Financial Review
Pension Update
FY 2006 FY 2007 FY 2008 FY 2009 FY 2010
Unfunded Status $409 $316 $243 $182 $122
Expense $95 $76 $68 $72 $69
Contributions $58 $134 $114 $102 $101
Discount Rate
U.S. Discount rate assumption currently at 6.6%
Asset Returns
U.S. Long-term return assumption currently at 8.5%
89
93. Summary
• Strong portfolio of businesses
• Process to generate more high growth products
• Strong and unified leadership team
• Performance Plus will transform the company
93
96. Use of Non-GAAP Financial Information
In addition to the results reported in accordance with accounting principles generally accepted in the United States (“GAAP”)
included throughout this presentation, the company has provided information regarding income from continuing operations,
diluted earnings per share and operating income and margins before special items, which are non-GAAP financial measures.
These non-GAAP measures are defined as reported income or loss from continuing operations, reported diluted earnings or
loss per share from continuing operations and operating income or loss plus or minus special items. Other non-GAAP
financial measures include “EBITDA before special items” and “free cash flow”. EBITDA is defined as earnings before interest,
income taxes, depreciation and amortization plus or minus special items. Free cash flow represents net cash provided by
operating activities less capital expenditures.
Management believes that the non-GAAP financial measures used in this presentation are useful to both management and
investors in their analysis of the Company’s financial position and results of operations. In particular, management believes
EBITDA is a meaningful measure of performance as it is commonly utilized by management and investors to analyze operating
performance and entity valuation. Management, the investment community and the banking institutions routinely use EBITDA,
together with other measures, to measure operating performance in our industry. Management believes that free cash flow is
useful in analyzing the Company’s ability to service and repay its debt. Further, management uses these non-GAAP measures
for planning and forecasting in future periods.
These non-GAAP measures should not be considered a substitute for the reported results prepared in accordance with GAAP.
EBITDA should not be considered as an alternative to net income as an indicator of our operating performance or to cash
flows as a measure of liquidity. Free cash flow should not be considered a substitute for cash provided by operating activities
or other cash flow statement data prepared in accordance with GAAP or as a measure of liquidity. In addition, the calculation
of free cash flow does not reflect cash used to service debt and thus, does not reflect funds available for investment or other
discretionary uses. These non-GAAP financial measures, as determined and presented by the company, may not be
comparable to related or similarly titled measures reported by other companies.
Set forth on the following slides are reconciliations of these non-GAAP financial measures, if applicable, to the most directly
comparable financial measures calculated and presented in accordance with GAAP.
96
97. Non-GAAP Financial Information –
Full Year FY 2006 Results Before Special Items
Twelve Months Environmental, Before
(in millions, except per share amounts)
Reported Goodwill Gains on Tilbury Work Severance Retiree Debt Taxes, Special Items
09/30/06 Impairment Divestitures Restructuring Stoppage and Other Medical Extinguishment Other 09/30/06
Sales $ 9,195 $ -$ -$ -$ -$ -$ -$ -$ -$ 9,195
Operating Income (Loss) (119) 310 (28) 37 45 12 5 - - 262
Income (Loss) From Continuing Operations (174) 310 (17) 23 28 8 3 6 (62) 125
Diluted Earnings (Loss) Per Share
Continuing Operations $ (2.51) $ 4.42 $ (0.24) $ 0.33 $ 0.40 $ 0.11 $ 0.04 $ 0.08 $ (0.85) $ 1.78
Total Operating Margins -1.3% 2.8%
97
98. Non-GAAP Financial Information –
FY 2006 Quarterly Results Before Special Items
Environmental, Tilbury Before
(in millions, except per share amounts)
Gain on Severance Debt Work Goodwill Retiree Taxes, Special
Reported Divestitures Restructuring and Other Extinguishment Stoppage Impairment Medical Other Items
Three Months Ended 12/31/05
Income From Continuing Operations $ 28 $ (14) $ 1$ - $ - $ - $ - $ - $ (3) $ 12
Diluted Earnings Per Share 0.40 (0.20) 0.01 - - - - - (0.04) 0.17
Three Months Ended 3/31/06
$ 32 $ - $ 10 $ 2$ 6$ - $ - $ - $ (18) $ 32
Income From Continuing Operations
0.45 - 0.14 0.03 0.09 - - - (0.26) 0.45
Diluted Earnings Per Share
Three Months Ended 6/30/06
$ 27 $ (3) $ 1$ - $ - $ 28 $ - $ - $ - $ 53
Income From Continuing Operations
0.39 (0.04) 0.01 - - 0.40 - - - 0.76
Diluted Earnings Per Share
Three Months Ended 9/30/06
$ (261) $ - $ 11 $ 6$ - $ - $ 310 $ 3$ (41) $ 28
Income From Continuing Operations
(3.76) - 0.16 0.09 - - 4.40 0.04 (0.53) 0.40
Diluted Earnings Per Share
98
99. Non-GAAP Financial Information –
Free Cash Flow
Twelve Months
Ended
(in millions)
09/30/06
Cash Provided By Operating Activities $ 440
Less: Capital expenditures (156)
Free Cash Flow $ 284
99
100. Non-GAAP Financial Information –
EBITDA – before special items
Twelve Months Ended
September 30, 2006
(in millions)
EBITDA Before Special Items $ 456
Gains on Divestitures 28
Tilbury Work Stoppage (45)
Restructuring (37)
Environmental, Severance and Other (12)
Retiree Medical (5)
Goodwill Impairment (310)
Depreciation and Amortization (172)
Interest Expense, Net and Other (133)
Benefit for Income Taxes 56
Loss From Continuing Operations $ (174)
100