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.
SCm Group faced many challenges in 2009 due to the global economic downturn. However, the Group was well prepared and focused on maintaining its market positions, operational effectiveness, and business liquidity. Key accomplishments included strengthening market share in core industries like banking, media, and energy. The Group also invested over $500 million in projects and acquired United Coal Company to boost metallurgy resources. SCm exited weaker non-core businesses and improved governance to strengthen its financial position despite the crisis.
The document summarizes SCM Group's corporate transformation program in 2008. Key events included:
1) Continuing the transformation of SCM Group's asset management system to increase the effectiveness of managing Group enterprises.
2) Forming sectoral holdings within SCM Group, including ESTA Holding in real estate and Metinvest in mining and metals.
3) Improving SCM Group's corporate governance structure through a clear and simple decision-making system allowing for timely strategic decisions.
This document summarizes key financial indicators and events for SCM Group in 2007. It shows that the company experienced significant growth in 2007 across several financial metrics, including assets (up 75%), equity (up 85%), EBITDA (up 71%), revenue (up 42%), and profit (up 94%). The CEO statement discusses SCM Group completing its corporate restructuring program and laying the foundation for long-term sustainability. It focused on strengthening its positions in six priority business areas through organic growth and acquisitions. SCM Group also exited some non-core businesses and entered new business areas like retail.
John Watson, Executive Vice President of Strategy and Development at Chevron, presented at the Merrill Lynch Global Energy Large Cap Conference in New York City on December 2, 2008. In his presentation, Watson discussed Chevron's strategic focus on growing its upstream business and improving returns in its downstream business. He highlighted several of Chevron's major capital projects and emphasized the company's financial strength and track record of delivering returns to shareholders.
HMS Group is a leading provider of pumps and integrated pump solutions in Russia and the CIS. Some key points:
- HMS sees significant growth opportunities from large infrastructure investment programs in the Russian energy and utilities sectors totaling over $500 billion through 2015.
- Notable new projects include the expansion of major oil and gas pipelines and new nuclear and thermal power plants both in Russia and abroad utilizing Russian technology.
- HMS' advanced R&D capabilities position it well to benefit from the substantial planned investments in modernizing Russia's energy infrastructure and developing new production assets.
Chevron at Barclays Capital 2009 CEO Energy/Power Conferenceinvestorrelation
Pat Yarrington, CFO of Chevron Corporation, presented at the 2009 Barclays Capital CEO Energy/Power Conference in New York City on September 9, 2009. He discussed Chevron's strategic advantages including its leading exploration performance, top portfolio of projects, strong project execution track record, and engineering and technology leadership. Yarrington also highlighted Chevron's financial strength and focus on cost reduction during the current economic environment.
- Dana Holding Corporation held an earnings conference call to discuss financial results for the third quarter of 2008
- Net sales for Q3 2008 were $1.929 billion, down from $2.130 billion in Q3 2007, due to lower production volumes in North America and higher steel costs
- The company reported a net loss of $271 million for Q3 2008 compared to a net loss of $69 million for Q3 2007
- Dana plans further restructuring actions in 2009-2010, including closing up to 10 plants and reducing its workforce by an additional 2,000-3,000 employees
This document summarizes Chevron's fourth quarter 2008 earnings conference call. It discusses Chevron's Q4 2008 earnings of $4.9 billion and earnings per share of $2.44. It also provides details on Chevron's 2008 return on capital employed, debt ratio, and share repurchases. The document reviews Chevron's Q4 2008 earnings performance across its upstream, downstream, and other segments and discusses its 2009 capital and exploratory budget and production outlook.
SCm Group faced many challenges in 2009 due to the global economic downturn. However, the Group was well prepared and focused on maintaining its market positions, operational effectiveness, and business liquidity. Key accomplishments included strengthening market share in core industries like banking, media, and energy. The Group also invested over $500 million in projects and acquired United Coal Company to boost metallurgy resources. SCm exited weaker non-core businesses and improved governance to strengthen its financial position despite the crisis.
The document summarizes SCM Group's corporate transformation program in 2008. Key events included:
1) Continuing the transformation of SCM Group's asset management system to increase the effectiveness of managing Group enterprises.
2) Forming sectoral holdings within SCM Group, including ESTA Holding in real estate and Metinvest in mining and metals.
3) Improving SCM Group's corporate governance structure through a clear and simple decision-making system allowing for timely strategic decisions.
This document summarizes key financial indicators and events for SCM Group in 2007. It shows that the company experienced significant growth in 2007 across several financial metrics, including assets (up 75%), equity (up 85%), EBITDA (up 71%), revenue (up 42%), and profit (up 94%). The CEO statement discusses SCM Group completing its corporate restructuring program and laying the foundation for long-term sustainability. It focused on strengthening its positions in six priority business areas through organic growth and acquisitions. SCM Group also exited some non-core businesses and entered new business areas like retail.
John Watson, Executive Vice President of Strategy and Development at Chevron, presented at the Merrill Lynch Global Energy Large Cap Conference in New York City on December 2, 2008. In his presentation, Watson discussed Chevron's strategic focus on growing its upstream business and improving returns in its downstream business. He highlighted several of Chevron's major capital projects and emphasized the company's financial strength and track record of delivering returns to shareholders.
HMS Group is a leading provider of pumps and integrated pump solutions in Russia and the CIS. Some key points:
- HMS sees significant growth opportunities from large infrastructure investment programs in the Russian energy and utilities sectors totaling over $500 billion through 2015.
- Notable new projects include the expansion of major oil and gas pipelines and new nuclear and thermal power plants both in Russia and abroad utilizing Russian technology.
- HMS' advanced R&D capabilities position it well to benefit from the substantial planned investments in modernizing Russia's energy infrastructure and developing new production assets.
Chevron at Barclays Capital 2009 CEO Energy/Power Conferenceinvestorrelation
Pat Yarrington, CFO of Chevron Corporation, presented at the 2009 Barclays Capital CEO Energy/Power Conference in New York City on September 9, 2009. He discussed Chevron's strategic advantages including its leading exploration performance, top portfolio of projects, strong project execution track record, and engineering and technology leadership. Yarrington also highlighted Chevron's financial strength and focus on cost reduction during the current economic environment.
- Dana Holding Corporation held an earnings conference call to discuss financial results for the third quarter of 2008
- Net sales for Q3 2008 were $1.929 billion, down from $2.130 billion in Q3 2007, due to lower production volumes in North America and higher steel costs
- The company reported a net loss of $271 million for Q3 2008 compared to a net loss of $69 million for Q3 2007
- Dana plans further restructuring actions in 2009-2010, including closing up to 10 plants and reducing its workforce by an additional 2,000-3,000 employees
This document summarizes Chevron's fourth quarter 2008 earnings conference call. It discusses Chevron's Q4 2008 earnings of $4.9 billion and earnings per share of $2.44. It also provides details on Chevron's 2008 return on capital employed, debt ratio, and share repurchases. The document reviews Chevron's Q4 2008 earnings performance across its upstream, downstream, and other segments and discusses its 2009 capital and exploratory budget and production outlook.
Merrill Lynch Global Power & Gas Leaders Presentationfinance14
The document is a presentation by Exelon Corporation to investors at the Merrill Lynch Power & Gas Leaders Conference on September 25, 2007. It summarizes Exelon's strategic direction of protecting current value while growing long-term value through operational excellence, supporting competitive markets, and evaluating new growth opportunities. It highlights Exelon's strong financial performance with 12% annual operating EPS growth since 2000, and expectations for continued growth through 2011 driven by its generation business and ComEd's regulatory recovery plan. The presentation also reviews Exelon's financial policies and balance sheet capacity, positioning it well for future opportunities.
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.
The document outlines the key topics to be covered in Chapter 2, which includes operations strategy in a global environment. Some of the major sections covered are global company profiles of Boeing and other multinational corporations, achieving competitive advantage through operations, developing missions and strategies, and global operations strategy options. The learning objectives are also provided which indicate students should be able to define operations management concepts and strategies used by global companies.
'Chevron Corp- UBS Global Oil & Gas ConferenceManya Mohan
Paul Siegele, Vice President of Strategic Planning at Chevron, presented at the UBS Global Oil & Gas Conference. He discussed Chevron's strategies to meet long-term energy demand growth, including expanding their upstream portfolio and major capital projects. Chevron has a leading project queue that will increase reserves and production, and their strategic advantages position them for long-term growth and returns.
- El Paso Corporation provides natural gas and related energy products. In Q3 2005 it reported a net loss of $321 million compared to a $214 million loss in Q3 2004.
- Significant items negatively impacting results included $162 million in asset impairments and a $28 million contract termination charge, partially offset by a $110 million gain on asset sales.
- Cash flow from operating activities was negative $398 million for the first nine months of 2005, compared to positive $799 million for the same period in 2004, largely due to working capital changes.
- Total debt increased to $17.9 billion as of September 30, 2005, up from $17.5 billion as of June 30,
- Finning International provides mining and power systems solutions across Canada, South America, and the UK/Ireland.
- The company has a unique value proposition due to geographic and industry diversification, strong market positions, and a large installed equipment base that drives resilient product support revenue.
- Management is focused on operational excellence, disciplined growth, and balance sheet deleverage to achieve financial targets including sequential EBIT margin expansion, a return on equity over 18%, and strengthening the balance sheet.
1. Santander reported consistent results in Q1 2009, with attributable profit decreasing 5% year-over-year to EUR 2.096 billion. Excluding exchange rates, profit increased 9%.
2. Net interest income increased 18.8% excluding exchange rates, driven by spreads management in a low interest rate environment. Operating expenses increased 1.8% excluding exchange rates and perimeter changes, reflecting strict cost control.
3. Loan-loss provisions increased 67.8% excluding exchange rates to EUR 2.234 billion, but were lower than in Q4 2008 due to specific provisions. Generic provisions decreased as forecasted.
The document provides an overview of ArvinMeritor's planned spinoff of its Light Vehicle Systems segment into a new standalone public company called Arvin Innovation (ARVI). Key points include:
- ArvinMeritor will spin off ARVI to shareholders to improve focus and unlock shareholder value.
- ARVI is expected to have $2.1 billion in sales initially and grow to $2.7-2.9 billion by 2010 through new business wins.
- ARVI will launch with $100 million in cash, $125 million in debt, and $241 million in unfunded pension and other liabilities transferred from ArvinMeritor.
- The spinoff is expected to be
This document contains the presentation from CSX's 2007 transportation conference. It summarizes CSX's record financial results in 2006, including a 26% increase in operating income and 31% increase in EPS. It outlines CSX's targets for 2010, including 10-12% CAGR for operating income and 12-14% CAGR for EPS. The presentation also discusses factors supporting continued growth in rail transportation demand and CSX's investments to capitalize on trends in industries like intermodal, ethanol and fertilizer. In conclusion, it expresses confidence that the rail renaissance environment remains strong and that CSX is well-positioned for ongoing momentum and record results.
The document provides details on Meritor's FY 2007 second quarter earnings and performance update. It reports earnings of $0.17 per share from continuing operations before special items. It also lowers full-year EPS guidance to a range of $0.70 to $0.80 due to softer demand. Additionally, it outlines Meritor's Performance Plus initiative to achieve $150 million in savings by 2009 through restructuring and cost reductions.
This presentation discusses CSX Corporation's performance and outlook. It notes that CSX has created significant shareholder value in recent years. The company is focused on delivering double-digit growth through 2010 by executing its long-term strategy and meeting new financial targets. The rail renaissance environment remains strong due to tight transportation capacity and pricing power, though the economy is moderating. CSX is making capacity investments to leverage growth around major ports and intermodal volumes. The company aims to continue its financial and operational momentum while delivering value for shareholders.
Corning Inc. is a 152-year-old diversified technology company that focuses on high-impact growth opportunities through specialty glass, ceramics, polymers, and light manipulation. It develops innovative products for telecommunications, displays, environmental, life sciences, semiconductors, and other materials markets. The 2003 annual report discusses priorities of protecting financial health, returning to profitability, and continuing to invest in the future. It emphasizes growth through global innovation, achieving balance and stability, and preserving trust through living the company's values.
This document summarizes Mary Lehmann's presentation at the 2009 Barclays Capital Industrial Select Conference on February 11, 2009. It provides an overview of ArvinMeritor's globally diverse business portfolio, highlights from the first quarter including sales and earnings results, cost reduction measures, and vehicle production and sales outlooks for commercial vehicle systems and light vehicle systems. Segment results, cash flow, working capital trends and the status of factoring and securitization programs are also reviewed.
Mary Lehmann, Senior Vice President of Strategic Initiatives and Treasurer of ArvinMeritor, presented at the 2009 Barclays Capital Industrial Select Conference on February 11, 2009. In her presentation, she discussed ArvinMeritor's globally diverse business portfolio, highlighted the company's first quarter financial results which showed a year-over-year decline in sales and earnings, and provided an overview of the company's ongoing restructuring efforts to reduce costs.
Chip McClure, Chairman and CEO of ArvinMeritor, provided an overview of the company's performance and goals. Key points included:
1) The company met its 2005 goals around sales, EPS, operating income and free cash flow.
2) Medium-term goals include achieving a 1/3-1/3-1/3 regional sales mix and tripling sales and the aftermarket business in Asia.
3) Challenges include the 2007 downturn in the North American Class 8 truck market and pricing pressures, while opportunities exist in growing markets like Asia.
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 a presentation given by Jay Craig, Senior Vice President and Controller of ArvinMeritor, at the JPMorgan Harbour Auto Conference on August 6, 2007. The presentation discusses ArvinMeritor's financial results for the third quarter of fiscal year 2007, including earnings of $0.25 per share before special items. It also provides guidance for full year 2007 EPS of $0.75 to $0.80 before special items. The presentation addresses questions about free cash flow and the sale of the Emissions Technologies business unit.
This document summarizes a presentation given by Jay Craig, Senior Vice President and Controller of ArvinMeritor, at the JPMorgan Harbour Auto Conference on August 6, 2007. The presentation discusses ArvinMeritor's financial results for the third quarter of fiscal year 2007, including earnings of $0.25 per share before special items. It also provides guidance for full year 2007 EPS of $0.75 to $0.80 before special items. The presentation addresses questions about free cash flow and the sale of the Emissions Technologies business unit.
This document provides an overview and cautionary statements for DMC's presentation at an industrial conference. It summarizes DMC's business segments, global presence, and financial highlights. The document also cautions readers that DMC's forward-looking statements are based on management's current assessments and involve risks and uncertainties that could cause actual results to differ materially.
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.
The document provides an overview of ArvinMeritor's planned spinoff of its Light Vehicle Systems segment into a new standalone public company called Arvin Innovation (ARVI). Key points include:
- ArvinMeritor will spin off ARVI to shareholders to improve focus and unlock shareholder value.
- ARVI is expected to have $2.1 billion in sales initially and grow to $2.7-2.9 billion by 2010 through new business wins.
- ARVI will launch with $100 million in cash, $125 million in debt, and $241 million in unfunded pension and other liabilities transferred from ArvinMeritor.
- The spinoff is expected to be
- The document is ArvinMeritor's FY 2008 Third Quarter Earnings presentation from July 29, 2008.
- Key highlights include earnings of $0.77 per share before special items, increased sales over the prior year, and progress made on the planned spinoff of the Light Vehicle Systems business.
- An outlook for the full fiscal year 2008 was provided with expectations for earnings per share at the high end of prior guidance and sales in the range of $7.1 to $7.3 billion.
Merrill Lynch Global Power & Gas Leaders Presentationfinance14
The document is a presentation by Exelon Corporation to investors at the Merrill Lynch Power & Gas Leaders Conference on September 25, 2007. It summarizes Exelon's strategic direction of protecting current value while growing long-term value through operational excellence, supporting competitive markets, and evaluating new growth opportunities. It highlights Exelon's strong financial performance with 12% annual operating EPS growth since 2000, and expectations for continued growth through 2011 driven by its generation business and ComEd's regulatory recovery plan. The presentation also reviews Exelon's financial policies and balance sheet capacity, positioning it well for future opportunities.
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.
The document outlines the key topics to be covered in Chapter 2, which includes operations strategy in a global environment. Some of the major sections covered are global company profiles of Boeing and other multinational corporations, achieving competitive advantage through operations, developing missions and strategies, and global operations strategy options. The learning objectives are also provided which indicate students should be able to define operations management concepts and strategies used by global companies.
'Chevron Corp- UBS Global Oil & Gas ConferenceManya Mohan
Paul Siegele, Vice President of Strategic Planning at Chevron, presented at the UBS Global Oil & Gas Conference. He discussed Chevron's strategies to meet long-term energy demand growth, including expanding their upstream portfolio and major capital projects. Chevron has a leading project queue that will increase reserves and production, and their strategic advantages position them for long-term growth and returns.
- El Paso Corporation provides natural gas and related energy products. In Q3 2005 it reported a net loss of $321 million compared to a $214 million loss in Q3 2004.
- Significant items negatively impacting results included $162 million in asset impairments and a $28 million contract termination charge, partially offset by a $110 million gain on asset sales.
- Cash flow from operating activities was negative $398 million for the first nine months of 2005, compared to positive $799 million for the same period in 2004, largely due to working capital changes.
- Total debt increased to $17.9 billion as of September 30, 2005, up from $17.5 billion as of June 30,
- Finning International provides mining and power systems solutions across Canada, South America, and the UK/Ireland.
- The company has a unique value proposition due to geographic and industry diversification, strong market positions, and a large installed equipment base that drives resilient product support revenue.
- Management is focused on operational excellence, disciplined growth, and balance sheet deleverage to achieve financial targets including sequential EBIT margin expansion, a return on equity over 18%, and strengthening the balance sheet.
1. Santander reported consistent results in Q1 2009, with attributable profit decreasing 5% year-over-year to EUR 2.096 billion. Excluding exchange rates, profit increased 9%.
2. Net interest income increased 18.8% excluding exchange rates, driven by spreads management in a low interest rate environment. Operating expenses increased 1.8% excluding exchange rates and perimeter changes, reflecting strict cost control.
3. Loan-loss provisions increased 67.8% excluding exchange rates to EUR 2.234 billion, but were lower than in Q4 2008 due to specific provisions. Generic provisions decreased as forecasted.
The document provides an overview of ArvinMeritor's planned spinoff of its Light Vehicle Systems segment into a new standalone public company called Arvin Innovation (ARVI). Key points include:
- ArvinMeritor will spin off ARVI to shareholders to improve focus and unlock shareholder value.
- ARVI is expected to have $2.1 billion in sales initially and grow to $2.7-2.9 billion by 2010 through new business wins.
- ARVI will launch with $100 million in cash, $125 million in debt, and $241 million in unfunded pension and other liabilities transferred from ArvinMeritor.
- The spinoff is expected to be
This document contains the presentation from CSX's 2007 transportation conference. It summarizes CSX's record financial results in 2006, including a 26% increase in operating income and 31% increase in EPS. It outlines CSX's targets for 2010, including 10-12% CAGR for operating income and 12-14% CAGR for EPS. The presentation also discusses factors supporting continued growth in rail transportation demand and CSX's investments to capitalize on trends in industries like intermodal, ethanol and fertilizer. In conclusion, it expresses confidence that the rail renaissance environment remains strong and that CSX is well-positioned for ongoing momentum and record results.
The document provides details on Meritor's FY 2007 second quarter earnings and performance update. It reports earnings of $0.17 per share from continuing operations before special items. It also lowers full-year EPS guidance to a range of $0.70 to $0.80 due to softer demand. Additionally, it outlines Meritor's Performance Plus initiative to achieve $150 million in savings by 2009 through restructuring and cost reductions.
This presentation discusses CSX Corporation's performance and outlook. It notes that CSX has created significant shareholder value in recent years. The company is focused on delivering double-digit growth through 2010 by executing its long-term strategy and meeting new financial targets. The rail renaissance environment remains strong due to tight transportation capacity and pricing power, though the economy is moderating. CSX is making capacity investments to leverage growth around major ports and intermodal volumes. The company aims to continue its financial and operational momentum while delivering value for shareholders.
Corning Inc. is a 152-year-old diversified technology company that focuses on high-impact growth opportunities through specialty glass, ceramics, polymers, and light manipulation. It develops innovative products for telecommunications, displays, environmental, life sciences, semiconductors, and other materials markets. The 2003 annual report discusses priorities of protecting financial health, returning to profitability, and continuing to invest in the future. It emphasizes growth through global innovation, achieving balance and stability, and preserving trust through living the company's values.
This document summarizes Mary Lehmann's presentation at the 2009 Barclays Capital Industrial Select Conference on February 11, 2009. It provides an overview of ArvinMeritor's globally diverse business portfolio, highlights from the first quarter including sales and earnings results, cost reduction measures, and vehicle production and sales outlooks for commercial vehicle systems and light vehicle systems. Segment results, cash flow, working capital trends and the status of factoring and securitization programs are also reviewed.
Mary Lehmann, Senior Vice President of Strategic Initiatives and Treasurer of ArvinMeritor, presented at the 2009 Barclays Capital Industrial Select Conference on February 11, 2009. In her presentation, she discussed ArvinMeritor's globally diverse business portfolio, highlighted the company's first quarter financial results which showed a year-over-year decline in sales and earnings, and provided an overview of the company's ongoing restructuring efforts to reduce costs.
Chip McClure, Chairman and CEO of ArvinMeritor, provided an overview of the company's performance and goals. Key points included:
1) The company met its 2005 goals around sales, EPS, operating income and free cash flow.
2) Medium-term goals include achieving a 1/3-1/3-1/3 regional sales mix and tripling sales and the aftermarket business in Asia.
3) Challenges include the 2007 downturn in the North American Class 8 truck market and pricing pressures, while opportunities exist in growing markets like Asia.
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 a presentation given by Jay Craig, Senior Vice President and Controller of ArvinMeritor, at the JPMorgan Harbour Auto Conference on August 6, 2007. The presentation discusses ArvinMeritor's financial results for the third quarter of fiscal year 2007, including earnings of $0.25 per share before special items. It also provides guidance for full year 2007 EPS of $0.75 to $0.80 before special items. The presentation addresses questions about free cash flow and the sale of the Emissions Technologies business unit.
This document summarizes a presentation given by Jay Craig, Senior Vice President and Controller of ArvinMeritor, at the JPMorgan Harbour Auto Conference on August 6, 2007. The presentation discusses ArvinMeritor's financial results for the third quarter of fiscal year 2007, including earnings of $0.25 per share before special items. It also provides guidance for full year 2007 EPS of $0.75 to $0.80 before special items. The presentation addresses questions about free cash flow and the sale of the Emissions Technologies business unit.
This document provides an overview and cautionary statements for DMC's presentation at an industrial conference. It summarizes DMC's business segments, global presence, and financial highlights. The document also cautions readers that DMC's forward-looking statements are based on management's current assessments and involve risks and uncertainties that could cause actual results to differ materially.
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.
The document provides an overview of ArvinMeritor's planned spinoff of its Light Vehicle Systems segment into a new standalone public company called Arvin Innovation (ARVI). Key points include:
- ArvinMeritor will spin off ARVI to shareholders to improve focus and unlock shareholder value.
- ARVI is expected to have $2.1 billion in sales initially and grow to $2.7-2.9 billion by 2010 through new business wins.
- ARVI will launch with $100 million in cash, $125 million in debt, and $241 million in unfunded pension and other liabilities transferred from ArvinMeritor.
- The spinoff is expected to be
- The document is ArvinMeritor's FY 2008 Third Quarter Earnings presentation from July 29, 2008.
- Key highlights include earnings of $0.77 per share before special items, increased sales over the prior year, and progress made on the planned spinoff of the Light Vehicle Systems business.
- An outlook for the full fiscal year 2008 was provided with expectations for earnings per share at the high end of prior guidance and sales in the range of $7.1 to $7.3 billion.
- The company reported earnings of $0.77 per share for the third quarter of FY 2008, ahead of previous guidance.
- Sales increased over $340 million year-over-year due to stronger volumes outside of North America.
- The company is on track to achieve its cost reduction targets and cash flow guidance for FY 2008.
- Management provided an update on progress towards the planned spinoff of the Light Vehicle Systems business and launched a second phase of its cost savings program.
- For the full year 2008, sales were up 11% to $7.17 billion and EPS from continuing operations was $1.60, meeting guidance. Free cash flow was nearly breakeven at $(9) million, within $10 million of original guidance.
- Key priorities for 2009 are accelerating cost reductions, continuing operational improvements, completing the planned separation of the Light Vehicle Systems business, and growing high-margin segments.
- Guidance for 2009 expects EPS from continuing operations of $0.80 to $1.00 and free cash flow from continuing operations to be about breakeven.
- For the full year 2008, sales were up 11% to $7.17 billion and EPS from continuing operations was $1.60, meeting guidance. Free cash flow was nearly breakeven at $(9) million, within $10 million of original guidance.
- Key priorities for 2009 are accelerating cost reductions, continuing operational improvements, completing the planned separation of the Light Vehicle Systems business, and growing high-margin segments.
- Guidance for 2009 expects EPS from continuing operations of $0.80 to $1.00 and free cash flow from continuing operations to be about breakeven.
Fiscal 2005 was an important year for ArvinMeritor as they made progress positioning the company for long-term success despite challenges in the industry. Sales increased 11% to $8.9 billion while net income improved to $12 million from a loss of $42 million. The company streamlined operations through restructuring, divested certain businesses, and secured new business contracts. ArvinMeritor also increased research spending and focused on developing solutions for safety, mobility, and the environment to create value for its automotive customers.
The document summarizes ArvinMeritor's 2005 Annual Report. Key points include:
- Fiscal 2005 was an important year of transformation as the company positioned itself for long-term success.
- The company grew through joint ventures, divested non-core businesses, and implemented restructuring to improve its cost structure and competitiveness.
- Leadership changes were made to the board of directors and executive team to drive the company's strategic vision.
This presentation discusses CSX Corporation's performance and outlook. It notes that CSX has created significant shareholder value in recent years. The company is targeting double-digit growth through 2010 by executing on its strategy and continuous improvement. While the economy is moderating, the rail renaissance environment remains strong due to tight transportation capacity and pricing power. CSX is making infrastructure investments to leverage long-term growth in intermodal volumes driven by increasing port traffic. The company's capital philosophy focuses on productivity to support its goal of long-term value creation.
This presentation provides an overview of DMC and its business for investors. It summarizes DMC's financial highlights including its market capitalization, revenue, earnings, cash flow, and dividend. It also summarizes DMC's executive management team, business segments, global presence, and financial performance by region. The presentation cautions that it contains forward-looking statements and discusses the use of non-GAAP financial measures to evaluate the company's performance.
The document provides an overview of Dynamic Materials Corporation (DMC) and includes cautionary statements about forward-looking projections. It discusses DMC's three business segments, financial highlights, global operations, and competing cladding technologies. DMC is a leading provider of explosion-welded metal plates and has operations in explosive metalworking, oilfield products, and welding. The document reviews DMC's markets, growth strategy, and historical financial and operational performance.
The document provides an investor presentation for a company in August 2010. It cautions that the presentation contains forward-looking statements regarding the company's financial condition and results of operations that are subject to risks and uncertainties. It then provides an overview of the company's business segments, financial highlights from 2009, management team, global presence, and competitive positioning in its industry. Supplemental slides provide more details on financial performance, balance sheet, sales trends, backlog, capital expenditures, and adjusted EBITDA.
- The presentation discusses Phillips 66's strategy of pursuing operating excellence, growth, and returns through 2018. It outlines plans for growing earnings in midstream, chemicals, and refining by $2.5 billion through capital projects and acquisitions. Phillips 66 expects to enhance shareholder value by increasing dividends and share repurchases with strong free cash flow.
Similar to arvinmeritor DB2222DE-DDC8-46DA-9B8C-823EC7EBA95A_2009_AANY_sponsored_by_DB_FINAL (20)
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.
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.
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OJPs are becoming a critical resource for policy-makers and researchers who study the labour market. LMIC continues to work with Vicinity Jobs’ data on OJPs, which can be explored in our Canadian Job Trends Dashboard. Valuable insights have been gained through our analysis of OJP data, including LMIC research lead
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BONKMILLON Unleashes Its Bonkers Potential on Solana.pdfcoingabbar
Introducing BONKMILLON - The Most Bonkers Meme Coin Yet
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?
"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.
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
1. 2009 AANY Conference
Sponsored by
Deutsche Bank
January 14, 2009
Chip McClure
Chairman, CEO and President
1
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. There are risks and uncertainties relating to the planned disposition of ArvinMeritor’s LVS business, including the
timing and certainty of completion and the terms of any transaction or transactions. In addition, 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, including the recent global economic crisis; 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); whether our liquidity will be affected by declining vehicle
production volumes; availability and sharply rising cost of raw materials, including steel and oil; 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; potential adjustment of the value of deferred tax
assets; 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; the outcome of actual and potential product liability and warranty and recall claims; 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 from time to time in 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.
All earnings per share amounts are on a diluted basis. The company's fiscal year ends on the Sunday nearest Sept. 30, and its fiscal
quarters end on the Sundays nearest Dec. 31, March 31 and June 30. All year and quarter references relate to the company's fiscal
year and fiscal quarters, unless otherwise stated.
2
4. Strategic Priorities
1. Accelerate restructuring and other cost reductions
• Workforce reduction of more than 1,500 positions
• Tight controls on discretionary spending
• Performance Plus Wave II
• Additional actions executed since October 31
2. Continue operational performance improvement
• Improve global capacity flexibility
• Focus on supply chain management
• Drive inventory down
3. Complete LVS separation
4. Continue to grow high-margin segments
• Commercial Vehicle Aftermarket and Specialty
5. Innovate and strengthen product development and technology
• Hybrid commercial vehicles, new axle launch, fuel efficient and high
quality products
4
5. Globally Diverse Business Portfolio
2008 Sales – $7.2 Billion
CVS
LVS Body
South
Europe
America
75%
12%
Asia
Pacific
10%
North
America North
LVS Chassis
46% America
Europe 75%
32%
South North
Wheels America America
45% 50%
5
6. Timeline of Refocusing and Cost Actions
2006 2007 2008 2009
Completed sale of Announced details of Implemented
last piece of LVA; Performance Plus pay cuts, no
realized proceeds initiative, including merits and
significantly targeted savings of discon-
greater than if $75 million in 2008 tinuation of
sold as a whole (achieved) 401k matching
Announced TBD
Completed sale of Announced Announced austerity
creation of additional
Emissions intention to actions incremental
Performance actions
Technologies for separate CVS to Performance Plus
Plus profit total consideration and LVS ($70 mil. structural,
improvement of $310 million businesses $55 mil. var. labor)
initiative
Taking Tough Actions Proactively
6
7. Personnel Reductions Oct 2008 – Mar 2009
North America Europe
CVS and Corporate 320 (11%) 1,150 (37%)
75 completed 50 completed
LVS
TBD additional TBD additional
Addressing Capacity and Cost Structure
7
8. External Estimate of Class 8 Production(1)
2009 CY North America Class 8 Production (000)
300
(42)%
279
238
222
200 176
161
100
0
September October November December January
Source: ACT Research
(1) Production levels represent external estimates only and are not intended to represent the Company’s
production assumptions. The Company is unable to estimate full-year industry production at this time.
8
9. Europe Medium & Heavy Truck Industry(1)
2009 B/(W) than 2008 at Mid-point
30%
20%
10%
0%
-10%
-20%
-30%
-40%
-50%
Oct 15 Nov 15 Dec 15 Jan 12
Source: Published forecasts of industry participants and investment banks
Build Expectations for Europe Continue to Decline
(1) Production levels represent external estimates only and are not intended to represent the Company’s
production assumptions. The Company is unable to estimate full-year industry production at this time.
9
10. External Estimate of Light Vehicle
Production(1)
2009 CY Light Vehicle Production Forecast in Millions
25
(22)%
22.7
22.7 22.5
22.0 22.0
21.7
Europe 20.3
20
17.8
(32)%
14.5
15
13.5 13.5 13.0
12.6 12.5 11.8
North America
10.1
10
Apr May Jul Aug Sep Oct Nov Dec
Source: CSM
(1) Production levels represent external estimates only and are not intended to represent the Company’s
production assumptions. The Company is unable to estimate full-year industry production at this time.
10
11. Continue to Grow and Invest in
Technology
• Launching key new products
– Emphasizing fuel efficiency
• Delivered Wal-Mart hybrid
• Won more military contracts
• Investing in aftermarket growth
• Investing in off-highway products
and capabilities
11
13. What Has Changed?
• Over the last two months, we have experienced
continuing deterioration in global industry conditions
• Production has fallen quickly as OEMs adjust inventory
levels
• This puts pressure on our near-term financial results and
valuations
• Led us to the realization that Body and Chassis probably
have better valuations separately
What Hasn’t Changed?
• Strategic intent to separate CVS and LVS is the same
13
14. Body Systems Plan
• Pursue a sale of the Body Systems business unit
• Manage to continue to improve its financial
performance
– Demonstrate that further cost efficiencies can be
achieved Jay Craig
Interim Leader
– Ensure that a future sale will provide an
acceptable return to ArvinMeritor shareholders
14
15. Chassis Systems Plan
• Continue to explore and evaluate strategic
alternatives for a timely and orderly exit from
this business
• Could involve multiple actions
Jim Donlon
Interim Leader
Gabriel MSSC
Modules
Advanced Chassis
• Chassis controls and electronics
• Adaptive damping systems
• Active roll control systems
15
17. Limited Term Debt Refinancing
As of September 30, 2008
(in millions)
$700
$600
Secured
Revolver
$500
($626
million
available)
$400
Convertible
$300
$200
$276
$300
Letters of credit $251
$100 $6 $200
Defeased
$77
$38
$0
2007 2008 2009 2010 2011 2012 2013 2014 2015 2026 2027
Fiscal Year
17
18. Revolving Credit Line Covenants
≤
• Senior secured debt to TTM EBITDA Limit
TTM Adj. EBITDA as Reported • 2.5x through
• Include U.S. Securitization
Revolver Mar. 31, 2009
borrowings only Interest
• 2.0x thereafter
• Include Off-Balance Sheet
• Measured only
Factoring and Securitization
once per
Costs
quarter
• Include cash special items
• Capital expenditures ≤ $210 million annually
18
19. Recent Actions to Strengthen Liquidity
• Renewed on- and off-balance sheet receivables
securitization facilities
• Increased ability to repatriate cash to the U.S. and
Europe
• Implemented cash-friendly cost saving actions
– Negotiated needed savings for at-risk plants
– Reduced salaries and benefits
– Significantly reduced discretionary spending
– Implemented capital expenditure restrictions
• Pursuing sale of selected properties
19
21. FAQ #1: Why treat Body and Chassis
differently?
• We now believe we can maximize shareholder value by
exiting these businesses separately
• Together, Body and Chassis were interesting only to
financial buyers
– Separately, we believe the businesses will have
appeal to a broader set of buyers
• Prove to existing bidders that Body Systems cost
structure can be improved
• Multiple actions may be required for Chassis Systems
21
22. FAQ #2: Are you shifting your strategy
again?
• Nothing has changed in our management approach or
resolve
• We will continue to take the actions needed to ensure
our performance, liquidity and future growth prospects
• Market conditions have dictated a change in our
approach to the LVS separation, but the strategic
imperative is the same
Same Different
22
23. FAQ #3: Why not just close LVS?
• We believe these businesses have value and will be
positioned well when industry volumes return to
acceptable levels
• Shutting down these businesses as a whole would
require a significant cash commitment for separation
payments and other restructuring
• We do not believe this would be the best use of our
cash at this point in the cycle
23
24. FAQ #4: Why were you so bold as to
expect discontinued operations
treatment for LVS?
• We expected LVS to be in discontinued operations
because we were in negotiations and had a letter of
intent
• Deterioration in industry conditions has put pressure
on valuations
• We will not do a deal that shortchanges our shareholders
on the value of the business
24
25. FAQ #5: What will be in continuing
operations now?
• We expect that all of our businesses, including Body
and Chassis, will be in continuing operations for the first
quarter
• Treatment in future quarters depends on progress
and decisions around selling or otherwise exiting
businesses
25
26. FAQ #6: Why did Phil Martens leave?
• Phil came to ArvinMeritor to run a multi-billion dollar
business unit
• LVS will not continue as a whole, therefore, Phil has
left the company to pursue outside opportunities
26
27. FAQ #7: Why did you withdraw
guidance?
• As we stated in our Jan. 8, 2009 press release, we
withdrew guidance only because we expect the
composition of continuing operations to be
different than contemplated on Dec. 9 when we last
discussed our outlook
27