Johnson Controls presented at the Barclays Industrial Goods Conference in February 2008. They discussed significant declines expected in North American and European automotive production in 2009. Johnson Controls has three main business segments - Automotive Experience, Power Solutions, and Building Efficiency. Automotive Experience and Power Solutions were expected to face challenges from the decreased production volumes, but both had strong backlogs of new business which could help offset difficulties. Power Solutions also derived most of its sales from the more stable aftermarket business.
- Michelin's net sales for the first half of 2009 were €7.1 billion, down 13.4% from the first half of 2008, due to a 23% decline in unit sales caused by falling tire demand globally except in China.
- The operating margin was 4.0% before non-recurring items, down 4.6 points from the first half of 2008, as operating income fell 60.2% to €282 million due to lower unit sales and higher unused capacity costs.
- Michelin reported a net loss of €122 million for the first half after €292 million in restructuring costs for plans in France and North America to increase competitiveness.
This document provides a summary of Cummins Inc.'s first quarter 2008 earnings teleconference. It discusses Cummins' financial results for Q1 2008 compared to Q1 2007, including sales, earnings, margins and other metrics. It also provides guidance for Cummins' full year 2008 results and breakouts for each of its business segments. Key highlights discussed include record sales and earnings for Q1 2008 driven by market share gains and strong demand.
Motorola reported financial results for the third quarter of 2003, with sales up 5% year-over-year to $6.8 billion. Net income was $116 million or $0.05 per share on a GAAP basis, and $132 million or $0.06 per share excluding special items. The company provided fourth quarter 2003 guidance forecasting higher sales and earnings compared to the prior year quarter. Motorola's six business segments saw mixed results, with some segments experiencing higher sales and earnings compared to the prior year while others faced challenges from industry trends.
Automakers in India reported strong double-digit sales growth in November 2011, with volumes increasing despite expectations of slowing demand from higher interest rates and prices. Two-wheeler sales grew 28% year-over-year to over 1.3 million units, led by Hero MotoCorp, Bajaj Auto and TVS Motors. Major automakers like Tata Motors, Hero and Ashok Leyland reported better-than-expected numbers. Passenger vehicle sales increased 17% to around 210,000 units, while commercial vehicles grew nearly 22%. Going forward, industry growth is expected to be driven by two-wheelers, though higher costs and interest rates could impact profitability if passed on to customers.
- The two-wheeler industry in India saw a decline in quarterly volume growth to 11% in Q3 2011-12, the lowest in three years, with motorcycles growing at 9.2% versus over 20% for scooters.
- Overall growth for the domestic two-wheeler industry in 2011-12 is expected to be around 13% as growth is projected to further slow in Q4 due to high base effects.
- Market share in the motorcycle segment remains dominated by Hero MotoCorp at over 55%, while Honda regained its position as the third largest player in Q3 2011-12.
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%.
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.
The document provides details from Cummins Inc.'s first quarter 2007 earnings teleconference call. It includes:
1) Introductions from Cummins leadership and details on forward-looking statements and non-GAAP measures.
2) Financial highlights for each business segment, noting sales and earnings growth or declines compared to Q1 2006.
3) Consolidated financial results for Cummins, guidance for 2007, and investments to support future growth.
4) Questions were taken from participants on the call.
- Michelin's net sales for the first half of 2009 were €7.1 billion, down 13.4% from the first half of 2008, due to a 23% decline in unit sales caused by falling tire demand globally except in China.
- The operating margin was 4.0% before non-recurring items, down 4.6 points from the first half of 2008, as operating income fell 60.2% to €282 million due to lower unit sales and higher unused capacity costs.
- Michelin reported a net loss of €122 million for the first half after €292 million in restructuring costs for plans in France and North America to increase competitiveness.
This document provides a summary of Cummins Inc.'s first quarter 2008 earnings teleconference. It discusses Cummins' financial results for Q1 2008 compared to Q1 2007, including sales, earnings, margins and other metrics. It also provides guidance for Cummins' full year 2008 results and breakouts for each of its business segments. Key highlights discussed include record sales and earnings for Q1 2008 driven by market share gains and strong demand.
Motorola reported financial results for the third quarter of 2003, with sales up 5% year-over-year to $6.8 billion. Net income was $116 million or $0.05 per share on a GAAP basis, and $132 million or $0.06 per share excluding special items. The company provided fourth quarter 2003 guidance forecasting higher sales and earnings compared to the prior year quarter. Motorola's six business segments saw mixed results, with some segments experiencing higher sales and earnings compared to the prior year while others faced challenges from industry trends.
Automakers in India reported strong double-digit sales growth in November 2011, with volumes increasing despite expectations of slowing demand from higher interest rates and prices. Two-wheeler sales grew 28% year-over-year to over 1.3 million units, led by Hero MotoCorp, Bajaj Auto and TVS Motors. Major automakers like Tata Motors, Hero and Ashok Leyland reported better-than-expected numbers. Passenger vehicle sales increased 17% to around 210,000 units, while commercial vehicles grew nearly 22%. Going forward, industry growth is expected to be driven by two-wheelers, though higher costs and interest rates could impact profitability if passed on to customers.
- The two-wheeler industry in India saw a decline in quarterly volume growth to 11% in Q3 2011-12, the lowest in three years, with motorcycles growing at 9.2% versus over 20% for scooters.
- Overall growth for the domestic two-wheeler industry in 2011-12 is expected to be around 13% as growth is projected to further slow in Q4 due to high base effects.
- Market share in the motorcycle segment remains dominated by Hero MotoCorp at over 55%, while Honda regained its position as the third largest player in Q3 2011-12.
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%.
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.
The document provides details from Cummins Inc.'s first quarter 2007 earnings teleconference call. It includes:
1) Introductions from Cummins leadership and details on forward-looking statements and non-GAAP measures.
2) Financial highlights for each business segment, noting sales and earnings growth or declines compared to Q1 2006.
3) Consolidated financial results for Cummins, guidance for 2007, and investments to support future growth.
4) Questions were taken from participants on the call.
This document contains the agenda and presentation slides for Lear Corporation's 2005 Detroit Auto Conference. Some key points:
1) Lear provides an overview of its global business and strategy, noting challenging business conditions but a focus on profitable growth.
2) Financial highlights include a $3.8 billion three-year sales backlog and a solid 2005 financial outlook with an increased dividend.
3) The operating review discusses mitigating higher raw material costs, quality improvements, new investments, and major 2005 product launches.
4) Financial guidance for 2005 assumes slightly higher North American but stable European vehicle production volumes.
Motorola announced record second quarter sales and earnings, with sales up 17% to $8.83 billion and earnings per share up 52% to $0.38. Mobile device shipments reached a record 33.9 million units, representing 18.1% of the global market. All four of Motorola's business segments grew profitability. For the third quarter, Motorola expects sales between $8.9-9.1 billion and earnings per share of $0.27-0.29.
Cummins India is an Indian manufacturer and distributor of diesel and natural gas engines, generator sets, and related components. It operates through two segments: engines and lubricants. The document provides a PESTLE analysis and SWOT analysis of Cummins India, discusses the company's products and services, major competitors, and customer segments. Key information includes that Cummins India is a subsidiary of US-based Cummins Inc. and has annual revenues of over $23 billion globally.
The document summarizes Oshkosh Corporation's earnings conference call for the second quarter of fiscal year 2009. It discusses declines in sales and earnings due to the economic downturn. Specifically, access equipment and commercial sales were down sharply while defense and fire and emergency sales increased. The company took actions to cut costs, reduce debt, and position itself for eventual recovery. Challenging market conditions were expected to continue through the fiscal year.
Motorola reported its financial results for the second quarter of 2003. Key highlights included:
- Sales of $6.2 billion, down 10% from the previous year's quarter.
- GAAP earnings of $0.05 per share, compared to a loss of $1.02 per share in the previous year.
- Earnings excluding special items of $0.01 per share, compared to $0.02 per share in the previous year.
- Third quarter 2003 guidance of flat to down 4% sales, break-even to $0.02 GAAP earnings per share, and $0.02 to $0.04 earnings per share excluding special items.
ITNL reported strong revenue growth in Q2 FY12, though profit growth was moderate due to higher interest costs. Revenue grew 42% to Rs. 1,255 crores due to increased project execution. EBITDA grew 37% but margins fell due to higher contribution from construction projects. Order backlog provides revenue visibility for the next 24-30 months. While order awards have slowed, bidding activity is increasing, presenting opportunities for future growth.
TIM Brasil Full Year 2011 Preliminary Results & 2012-14 Plan Outline - L. Luc...Gruppo TIM
Telecom Italia outlined TIM Brasil's full-year 2011 results and 2012-2014 plan. Key highlights include:
- TIM Brasil achieved strong growth in 2011, with a 18% increase in revenues. The customer base expanded 56% to over 13 million lines.
- The plan aims to leverage TIM Brasil's mobile leadership through "Mobile over Fixed" and pushing fixed-mobile substitution. This will drive revenue growth towards a 60/40 split between mobile and fixed.
- Three growth opportunities were identified in broadband: 1) expanding fixed-mobile substitution for voice, 2) growing the fixed-mobile substitution for data through TIM's mobile internet offerings, and 3) selectively targeting the A
This document outlines Telecom Italia's 2012-2014 plan for its subsidiary TIM Brasil. It summarizes TIM Brasil's strong growth over the past three years in key metrics like customer base, revenues, EBITDA, and market share. The plan aims to continue this momentum by pursuing three strategies: community expansion to grow the customer base to 90 million lines, leveraging the "Voice is Good" and "Internet for All" concepts to increase voice usage and data adoption, and capitalizing on the fixed-mobile substitution opportunity in Brazil through fiber investments. The integration of TIM's mobile network with AES Atimus' fiber infrastructure will allow TIM to offer broadband and WiFi services nationwide to further its
The document discusses how strengthening California's Zero Emissions Vehicle program can help accelerate the adoption of electric vehicles. It argues that widespread adoption of electric vehicles is critical to meet long-term climate goals. A strong ZEV program can provide market certainty to boost investment in electric vehicles, increase consumer choice of electric models, and ensure the U.S. remains competitive in developing this technology. The document recommends requiring at least 50% of vehicles under the ZEV program be all-electric by 2025 to adequately advance electric vehicle commercialization.
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 Morgan Stanley's Global Automotive Seminar held on March 21, 2005. The agenda includes strategic overviews from the Chairman & CEO and CFO, as well as a presentation on shareholder value from the Vice Chairman. Highlights note Lear's customer-focused strategy has delivered growth but near-term results are negatively impacted by difficult industry conditions. The longer-term outlook remains positive. The document then provides more details on Lear's strategic evolution, financial performance, approach to mitigating costs, new model changeovers, and balanced approach to long-term shareholder value creation.
GM_Events & Presentations_The Case for Federal Support for GM and the U.S. Au...Manya Mohan
The document makes the case for federal support of GM and the U.S. automotive industry during the economic crisis. It argues that GM has taken significant actions to reduce costs and improve products, but the credit crisis has severely weakened auto sales and access to financing. A bankruptcy filing would be catastrophic and lead to millions of job losses. GM needs temporary liquidity support to cover operating expenses until market conditions stabilize so it can continue its long term plan to build a successful and sustainable company.
Gm Events & Presentations The Case For Federal Support For Gm And The U.S. Au...Manya Mohan
The document makes the case for federal support of GM and the U.S. automotive industry during the economic crisis. It argues that GM has taken significant actions to restructure costs and improve products, but the credit crisis is severely impacting auto sales and access to financing. A bankruptcy filing would be catastrophic and lead to millions of job losses. GM needs temporary liquidity support to continue operations and technology investments through the downturn while executing its long-term plan to build a competitive company.
The document summarizes Lear Corporation's second quarter 2008 financial results and outlook for 2008. Key points include:
- Second quarter core operating earnings were $164 million, though down from the previous year due to challenging business conditions in North America.
- Full-year 2008 core operating earnings forecast was lowered to $550-600 million based on lower expected North American auto production.
- Restructuring actions benefited results but challenges from high material costs and production declines persisted from the difficult business environment.
- Liquidity was maintained through 2012 with debt refinancing completed in July 2008.
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
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.
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.
The automotive industry is undergoing a transformation driven by several factors:
1. Major restructuring is occurring as high-cost production shifts to lower-cost centers in countries like China and India. By 2020, 10 large automotive groups will control 90% of global sales.
2. Customer demands are changing as environmental concerns grow and an "era of conscious consumption" emerges in both developed and developing markets.
3. Technologies are rapidly evolving to meet these new demands, such as electric vehicles making up a third of developed country sales by 2020.
4. Attracting and developing talent is becoming intensely competitive as the workforce needs more complex skills to support new technologies. Emerging markets will play a larger
The document summarizes PPG Industries' third quarter 2008 financial results. It reports double-digit sales and earnings growth across many business segments. It also notes strong cash generation that has allowed over $650 million in debt reduction so far in 2008. Challenges in some segments like industrial coatings and automotive are also highlighted due to economic slowdowns. Overall, the company reports continued strong financial performance despite difficult market conditions in some areas.
This document provides a summary of Cummins Inc.'s first quarter 2008 earnings teleconference. It discusses Cummins' financial results for Q1 2008 compared to Q1 2007, including sales growth across all business segments. Cummins also provides guidance for full year 2008, expecting continued sales growth. Segment leaders discuss strategies for growth in their respective industries and markets. The teleconference concludes with Q&A from participants.
This document contains the agenda and presentation slides for Lear Corporation's 2005 Detroit Auto Conference. Some key points:
1) Lear provides an overview of its global business and strategy, noting challenging business conditions but a focus on profitable growth.
2) Financial highlights include a $3.8 billion three-year sales backlog and a solid 2005 financial outlook with an increased dividend.
3) The operating review discusses mitigating higher raw material costs, quality improvements, new investments, and major 2005 product launches.
4) Financial guidance for 2005 assumes slightly higher North American but stable European vehicle production volumes.
Motorola announced record second quarter sales and earnings, with sales up 17% to $8.83 billion and earnings per share up 52% to $0.38. Mobile device shipments reached a record 33.9 million units, representing 18.1% of the global market. All four of Motorola's business segments grew profitability. For the third quarter, Motorola expects sales between $8.9-9.1 billion and earnings per share of $0.27-0.29.
Cummins India is an Indian manufacturer and distributor of diesel and natural gas engines, generator sets, and related components. It operates through two segments: engines and lubricants. The document provides a PESTLE analysis and SWOT analysis of Cummins India, discusses the company's products and services, major competitors, and customer segments. Key information includes that Cummins India is a subsidiary of US-based Cummins Inc. and has annual revenues of over $23 billion globally.
The document summarizes Oshkosh Corporation's earnings conference call for the second quarter of fiscal year 2009. It discusses declines in sales and earnings due to the economic downturn. Specifically, access equipment and commercial sales were down sharply while defense and fire and emergency sales increased. The company took actions to cut costs, reduce debt, and position itself for eventual recovery. Challenging market conditions were expected to continue through the fiscal year.
Motorola reported its financial results for the second quarter of 2003. Key highlights included:
- Sales of $6.2 billion, down 10% from the previous year's quarter.
- GAAP earnings of $0.05 per share, compared to a loss of $1.02 per share in the previous year.
- Earnings excluding special items of $0.01 per share, compared to $0.02 per share in the previous year.
- Third quarter 2003 guidance of flat to down 4% sales, break-even to $0.02 GAAP earnings per share, and $0.02 to $0.04 earnings per share excluding special items.
ITNL reported strong revenue growth in Q2 FY12, though profit growth was moderate due to higher interest costs. Revenue grew 42% to Rs. 1,255 crores due to increased project execution. EBITDA grew 37% but margins fell due to higher contribution from construction projects. Order backlog provides revenue visibility for the next 24-30 months. While order awards have slowed, bidding activity is increasing, presenting opportunities for future growth.
TIM Brasil Full Year 2011 Preliminary Results & 2012-14 Plan Outline - L. Luc...Gruppo TIM
Telecom Italia outlined TIM Brasil's full-year 2011 results and 2012-2014 plan. Key highlights include:
- TIM Brasil achieved strong growth in 2011, with a 18% increase in revenues. The customer base expanded 56% to over 13 million lines.
- The plan aims to leverage TIM Brasil's mobile leadership through "Mobile over Fixed" and pushing fixed-mobile substitution. This will drive revenue growth towards a 60/40 split between mobile and fixed.
- Three growth opportunities were identified in broadband: 1) expanding fixed-mobile substitution for voice, 2) growing the fixed-mobile substitution for data through TIM's mobile internet offerings, and 3) selectively targeting the A
This document outlines Telecom Italia's 2012-2014 plan for its subsidiary TIM Brasil. It summarizes TIM Brasil's strong growth over the past three years in key metrics like customer base, revenues, EBITDA, and market share. The plan aims to continue this momentum by pursuing three strategies: community expansion to grow the customer base to 90 million lines, leveraging the "Voice is Good" and "Internet for All" concepts to increase voice usage and data adoption, and capitalizing on the fixed-mobile substitution opportunity in Brazil through fiber investments. The integration of TIM's mobile network with AES Atimus' fiber infrastructure will allow TIM to offer broadband and WiFi services nationwide to further its
The document discusses how strengthening California's Zero Emissions Vehicle program can help accelerate the adoption of electric vehicles. It argues that widespread adoption of electric vehicles is critical to meet long-term climate goals. A strong ZEV program can provide market certainty to boost investment in electric vehicles, increase consumer choice of electric models, and ensure the U.S. remains competitive in developing this technology. The document recommends requiring at least 50% of vehicles under the ZEV program be all-electric by 2025 to adequately advance electric vehicle commercialization.
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 Morgan Stanley's Global Automotive Seminar held on March 21, 2005. The agenda includes strategic overviews from the Chairman & CEO and CFO, as well as a presentation on shareholder value from the Vice Chairman. Highlights note Lear's customer-focused strategy has delivered growth but near-term results are negatively impacted by difficult industry conditions. The longer-term outlook remains positive. The document then provides more details on Lear's strategic evolution, financial performance, approach to mitigating costs, new model changeovers, and balanced approach to long-term shareholder value creation.
GM_Events & Presentations_The Case for Federal Support for GM and the U.S. Au...Manya Mohan
The document makes the case for federal support of GM and the U.S. automotive industry during the economic crisis. It argues that GM has taken significant actions to reduce costs and improve products, but the credit crisis has severely weakened auto sales and access to financing. A bankruptcy filing would be catastrophic and lead to millions of job losses. GM needs temporary liquidity support to cover operating expenses until market conditions stabilize so it can continue its long term plan to build a successful and sustainable company.
Gm Events & Presentations The Case For Federal Support For Gm And The U.S. Au...Manya Mohan
The document makes the case for federal support of GM and the U.S. automotive industry during the economic crisis. It argues that GM has taken significant actions to restructure costs and improve products, but the credit crisis is severely impacting auto sales and access to financing. A bankruptcy filing would be catastrophic and lead to millions of job losses. GM needs temporary liquidity support to continue operations and technology investments through the downturn while executing its long-term plan to build a competitive company.
The document summarizes Lear Corporation's second quarter 2008 financial results and outlook for 2008. Key points include:
- Second quarter core operating earnings were $164 million, though down from the previous year due to challenging business conditions in North America.
- Full-year 2008 core operating earnings forecast was lowered to $550-600 million based on lower expected North American auto production.
- Restructuring actions benefited results but challenges from high material costs and production declines persisted from the difficult business environment.
- Liquidity was maintained through 2012 with debt refinancing completed in July 2008.
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
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.
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.
The automotive industry is undergoing a transformation driven by several factors:
1. Major restructuring is occurring as high-cost production shifts to lower-cost centers in countries like China and India. By 2020, 10 large automotive groups will control 90% of global sales.
2. Customer demands are changing as environmental concerns grow and an "era of conscious consumption" emerges in both developed and developing markets.
3. Technologies are rapidly evolving to meet these new demands, such as electric vehicles making up a third of developed country sales by 2020.
4. Attracting and developing talent is becoming intensely competitive as the workforce needs more complex skills to support new technologies. Emerging markets will play a larger
The document summarizes PPG Industries' third quarter 2008 financial results. It reports double-digit sales and earnings growth across many business segments. It also notes strong cash generation that has allowed over $650 million in debt reduction so far in 2008. Challenges in some segments like industrial coatings and automotive are also highlighted due to economic slowdowns. Overall, the company reports continued strong financial performance despite difficult market conditions in some areas.
This document provides a summary of Cummins Inc.'s first quarter 2008 earnings teleconference. It discusses Cummins' financial results for Q1 2008 compared to Q1 2007, including sales growth across all business segments. Cummins also provides guidance for full year 2008, expecting continued sales growth. Segment leaders discuss strategies for growth in their respective industries and markets. The teleconference concludes with Q&A from participants.
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%.
ARC’s Larry O’Brien and Craig Resnick’s Business Environment & Trends Worksho...ARC Advisory Group
ARC’s Larry O’Brien and Craig Resnick’s Business Environment & Trends Workshop @ 2009 ARC Industry Forum
Eye of the Storm: The Environment for Manufacturing and Automation in 2009 and Beyond
Where are We Now?
Current Climate and Outlook for Manufacturing
Impact on Emerging vs. Industrialized Economies
Current Climate and Outlook for Automation
Impact on Emerging vs. Industrialized Economies
How are Different Industries Affected?
Where are We Going?
General Motors-Events & Presentations 2008 Jp Morgan Auto ConferenceManya Mohan
This document discusses GM's outlook and strategies to address challenges in the US market and maintain momentum globally. It summarizes GM's $15 billion liquidity plan to address risks in the weak US market, and actions taken to realign capacity to increasing car production while leveraging global architectures. It also outlines strategies in key regions to maintain growth overseas, such as expanding in emerging markets and improving efficiency. The presentation aims to show GM is committed to changes needed to compete through a industry transformation.
Dover Corporation reported strong financial results for the second quarter of 2008, with revenue increasing 10% year-over-year to $2 billion and EPS growing 16% to $0.98. Segment margins increased slightly to 15.8% and organic growth was 5.4% despite challenges from rising costs. Free cash flow was $192 million for the quarter. The company also provided an outlook for full-year 2008 with expectations for mid-single digit organic growth and margin improvement of 25-50 basis points.
Dover Corporation reported strong financial results for the second quarter of 2008, with revenue increasing 10% year-over-year to $2 billion and EPS growing 16% to $0.98. Segment margins increased slightly to 15.8% and organic growth was 5.4% despite challenges from rising costs. Free cash flow was $192 million for the quarter. The company also provided an outlook for full-year 2008 with expectations for mid-single digit organic growth and margin improvement of 25-50 basis points.
Dover Corporation reported strong financial results for the second quarter of 2008, with revenue increasing 10% year-over-year to $2 billion and EPS growing 16% to $0.98. Segment margins increased slightly to 15.8% and organic growth was 5.4% despite challenges from rising costs. Free cash flow was $192 million for the quarter. The company also provided an outlook for full-year 2008 with expectations for mid-single digit organic growth and margin improvement of 25-50 basis points.
Gm Events & Presentations Credit Suisse Group International Investor Conferen...Manya Mohan
The document summarizes General Motors' performance in Europe in the first half of 2008. It notes that GM Europe achieved record sales of 1.16 million vehicles despite challenging market conditions. Key initiatives discussed include a focus on growth in Central and Eastern Europe, expanding the Chevrolet brand, improving revenue and margins, and restructuring manufacturing operations to lower costs.
Dover Corporation is a $7 billion global provider of industrial products, fluid management, engineered systems and electronic technologies. In 2008, Dover exceeded 3 of its 5 performance targets and achieved strong free cash flow of $834.6 million. Looking ahead, Dover is focused on cost savings initiatives, restructuring programs, and strategic capital allocation to deliver solid results in a challenging economic environment. Guidance for 2009 anticipates an 11-13% decline in total revenue but maintains a target for free cash flow to remain above 10% of revenue.
Dover Corporation is a $7 billion global provider of industrial products, fluid management, engineered systems, and electronic technologies. In 2008, Dover exceeded 3 of its 5 performance targets and achieved 3% earnings growth and 15.3% operating margins. For 2009, Dover expects revenues to decline 11-13% due to weakness in core markets, while pursuing restructuring efforts and synergies to offset declines and deliver EPS of $2.75-$3.05. Dover will continue strategic capital allocation including acquisitions and share repurchases.
In 2005, General Motors (GM) – the world's largest automotive manufacturer is now stepping to the point, where strategic thinking, planning and breakthrough are necessary. Three consecutive years of global market share declines, high pressure from world-class competitors, health care and retirement burdens, and rapid changes in consumer profile are the reason of that. How GM should minimize such threats and in the same time capture potential opportunities with its strengths is very interesting issue in term of strategic management and policy.
This presentation was composed to fulfill the requirement of my masters degree subject. The analysis and solution in this presentation were originated from a business case blended with my knowledge, research and idea. Even though, they may not 100% correct, or not reflect the current situation and solutions of GM, I still hope that this presentation would help those who is interested the situations occurred in 2005
Similar to johnson controls 02/11/2009 Barclays Capital Industrial Select Conference (20)
The document summarizes Alcoa's 1st quarter 2008 financial results and outlook. Key highlights include income from continuing operations of $303 million, revenues of $7.4 billion, and segment ATOI increasing 42% excluding packaging. Business conditions included lower aluminum prices, unfavorable currency and energy costs, and continued pressure in automotive. The outlook anticipates production increases and improved efficiencies. Alcoa reviews growth opportunities in aerospace, transportation, and infrastructure and discusses strategic priorities around profitable growth, competitive advantages, and disciplined execution.
- Alcoa reported income from continuing operations of $546 million or $0.66 per share for Q2 2008, an 80% increase over Q1 2008. Revenues increased 3% to $7.6 billion.
- Input costs continued to climb across the industry, with increases in caustic soda, calcined coke, fuel oil, and other materials. However, Alcoa saw double digit profit increases across all operating segments sequentially.
- Cash from operations exceeded $1 billion. The company repurchased $175 million in shares, reaching 10% of shares outstanding under the repurchase program. Global aluminum demand is expected to increase 7.9% in 2008 despite weakness in the US market.
- Alcoa reported net income of $268 million for 3Q 2008, which included $29 million for restructuring. Revenues were $7.2 billion, up from $6.5 billion in 3Q 2007 excluding divested businesses.
- The aluminum industry is facing significant increases in input costs such as caustic soda, calcined coke, ocean freight, and fuel oil. These rising costs have squeezed margins across the industry.
- Compared to 3Q 2007, Alcoa's income from continuing operations excluding special items fell from $340 million to $298 million due to higher costs that were only partially offset by productivity gains and price increases.
The document provides an overview of Alcoa's 4th quarter 2008 financial results and outlook for 1st quarter 2009. Key points include:
- 4Q 2008 loss from continuing operations of $929 million or $1.16 per share due to restructuring and impairment charges of $708 million.
- Revenue declined 18% sequentially to $5.7 billion on lower metal prices and market deterioration.
- Cash from operations was $608 million and cash on hand was $762 million.
- 1Q 2009 outlook includes further price declines and production cuts due to weak market conditions across key end markets.
The document summarizes Alcoa's annual shareholders meeting on May 8, 2008. It lists nominees for the board of directors to serve until 2011 and current directors. It also provides an executive council listing and forward-looking statements. Financial highlights from 2007 include record income and cash from operations. Q1 2008 results showed income from continuing operations of $303M excluding restructuring impacts. It outlines Alcoa's share repurchase program and total shareholder return, which outperformed indexes in 2007 and 2008 to date.
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2. Forward-looking statement
Johnson Controls, Inc. (quot;the Companyquot;) has made forward-looking statements in this presentation
pertaining to its financial results for fiscal 2009 and beyond that are based on preliminary data and are
subject to risks and uncertainties. All statements other than statements of historical fact are statements
that are or could be deemed forward-looking statements and include terms such as quot;outlook,quot;
quot;expectations,quot; quot;estimates,quot; or quot;forecasts.quot; For those statements, the Company cautions that numerous
important factors, such as automotive vehicle production levels, mix and schedules, financial distress of
key customers, energy prices, the strength of the U.S. or other economies, currency exchange rates,
cancellation of or changes to commercial contracts, liquidity, the ability to execute on restructuring
actions according to anticipated timelines and costs as well as other factors discussed in Item 1A of Part
II of the Company's most recent Form 10-k filing (filed November 25, 2008) could affect the Company's
actual results and could cause its actual consolidated results to differ materially from those expressed in
any f forward- l ki statement made b or on b h lf of, th C
d looking t t t d by, behalf f the Company.
Contact: Glen L. Ponczak
Director, Investor Relations
414-524-2375
Glen.L.Ponczak@jci.com
@j
2
3. Keith W d ll
K ith Wandell
President and Chief Operating Officer
3
4. Johnson Controls
Johnson Controls
Three world-class businesses
Power solutions Interior experience
Building efficiency
Providing the highest Delivering world-class
Creating quality indoor
quality, lowest cost technologies that
environments that are
automotive batteries to
differentiate vehicle
energy efficient,
help customers grow their
interiors and increase
comfortable and safe market shares and to
consumer demand
power the vehicles of
tomorrow
4
5. Johnson Controls Inc.
2008 financial results
Sales Earnings
$38.1 B
$ $1.4 B
$
Power
oe
15% Power
Buildings 26% Buildings
37% 46%
Automotive
Automotive
48%
28%
5
6. Automotive Experience
Leading global provider: systems and 2008 sales
components for seats, overheads,
$18.1
$18 1 Billion
doors, cockpits and electronics
d k it dlt i
– Supplying over 30 million cars per year
from 250 locations in 30 countries (1/3 in
Europe North
low-cost
low cost countries) Transplants
l
54% America Detroit 3
37% 48%
– Over 60% of revenues generated outside Asia
9%
of North America
*Excludes $1.5B unconsolidated revenue in China
6
7. 2009: Automotive Experience strengths
Record backlog of new seating and Backlog of new business*
interior programs
– $4 5 billion to launch between
$4.5
2009 and 2011
– 85% outside North America
– Reflects increasing market share in
Europe, Asia
– Primarily cars, CUVs
Winning new business,
increasing market share
Expanding leading market position in
China and Eastern Europe
Strong partner in a weakening
*Announced 10/08. Net of discontinued programs, includes
Announced
supply base unconsolidated sales, assumes stable production levels.
7
8. Historic changes in our markets
North American auto production
2009 estimated production forecast of 9.2million vehicles; lowest level since 1983
Down 34% in one year vs. 13.2 million vehicles in 2008
47% decline from the 2001 peak of 17.7 million units
18.0
16.0
14.0
12.0
10.0
8.0
6.0
4.0
F
51
53
55
57
59
61
63
65
67
69
71
73
75
77
79
81
83
85
87
89
91
93
95
97
99
01
03
05
07
09
19
19
19
19
19
19
19
19
19
19
19
19
19
19
19
19
19
19
19
19
19
19
19
19
19
20
20
20
20
20
8
9. Historic changes in our markets
European automotive production
Rapid deterioration; European markets
European automotive production
were stable through August 2008
Western Europe car registrations down 25
26% vs. last year 20
15
– December: Worst quarter since 1993
10
Eastern Europe registrations
5
down 23% in December quarter
0
Production still heading lower 2005 2006 2007 2008 2009 (e)
6.2
6.0 5.8
5.8
ion units
5.6 5.6
5.6
5.4
5.1
5.2
In milli
5.0
4.8
4.6
4.4 4.2
4.2
4.0
3.8
Q
Q1 Q
Q2 Q
Q3 Q
Q4 Q
Q1
FY 2008 FY 2009
9
10. Power Solutions
Largest global provider of
automotive batteries
Lead acid batteries
– #1 global market share of 36%
• Americas (50%)
• Europe (35%)
– Largest provider to the automotive
aftermarket
– Original equipment (OE) batteries
for the top automakers worldwide
– New entrants into Asia
• “China First” strategy
Lithium-ion batteries for hybrid
vehicle applications
10
11. 2009: Power Solutions strengths
Winning new OE and aftermarket
customers globally
Lowest cost, highest quality provider
– World-class manufacturing processes
and technologies (
g (PowerFrame) )
– Best Business Practices
Aftermarket (76% of sales) less economically
sensitive
sensiti e
Growing demand for AGM demand for micro-hybrid vehicles
Financial strength vs. economically distressed competitors
g y
Lithium-ion hybrid battery launch in 2009 (Nersac, France)
– First in the industry
11
12. 2009: Power solution strengths
Increasing market share
O’Reilly Auto Parts
More than 1,000 Checker Auto Parts, Kragen
Auto P t
A t Parts, and Schuck’s A t Supply stores
d S h k’ Auto S lt
Full line of automotive Super Start batteries
Optima® high performance automotive
batteries
Shipments to commence in February
Lithium-Ion production contracts
Azure Dynamics
Commercial delivery vehicles for FedEx,
Purolator, AT+T, Con Edison, etc.
Production to begin in 2010
Ford Plug-In contract announced 2/4/09
Production to begin in 2012
12
14. Building Efficiency
Largest global supplier of commercial building 2008 Sales:
services, HVAC equipment, building control $14.1 Billion
systems
Highly diversified: 1 million customers
Non-
in 125 countries Residential
94%
A huge installed base leading to repeat business Residential
Moderate cyclicality due to large service/renovation
volume
Asia
19%
North
Europe America
53%
29%
14
15. Building Efficiency
A growth industry
Demand for energy efficiency and sustainability
continues to expand g
p globally
y
Increased integration of building, business,
security and IT systems continues
Our competitive advantages
Industry-leading HVAC service business
– 13,000 service providers, twice the size of #2
competitor
Well positioned in growing emerging markets
Unique product and service offerings
Expertise and capability across the entire building
lifecycle
lif l
Strength in “institutional” vertical market
Renewable energy participation
– More than 400 active projects
15
16. Historic changes in our markets
Building Efficiency
Began to see softness in U.S.
commercial new construction markets in
Q4 2008
New construction slow-downs and
deferrals in Middle East due to low oil
prices and high vacancy rates
U.S. housing starts and existing-home
sales continue to decline
– U.S. housing starts dropped by 47%
year over year and 19% in the month
of December
f
16
17. Building Efficiency
High level of recurring revenues
Building Efficiency commercial building sales
Recurring revenues d i
R i driven b d
by demand
d
for increased energy efficiency,
greenhouse gas reductions, occupant
Service and
recurring comfort
revenues
Low overall economic sensitivity
75%
Economic sensitivity More
Less
New Global Technical Solutions Retrofit
Workplace Services
p
Construction
Solutions
25%
17
18. Building Efficiency
High level of recurring revenues
Building Efficiency commercial building sales
Technical services
– Van-based repair, maintain services via local
Johnson Controls branch offices
– Typically contracts: one or more years
Service and
– Not highly economically sensitive; deferred
recurring
maintenance leads to higher energy costs,
revenues
equipment failure
75%
– High renewal rates
– Highest service penetration in N. America
– Service culture developing in China, Middle
East
New
Construction
25%
18
19. Building Efficiency
High level of recurring revenues
Building Efficiency commercial building sales
Global Workplace Solutions
– On-site management and operation of facilities
– Primary customers: Global 1000
Service and
recurring – Multi year contracts
Multi-year
revenues
– Counter-cyclical: companies looking to cut
75%
costs turn to outsourcing
New
Construction
25%
19
20. Building Efficiency
High level of recurring revenues
Building Efficiency commercial building sales
Solutions
– Bundled offerings, driven by energy
efficiency improvements / alt. energy
Service and
– HVAC equ p e and controls installations,
C equipment a d co o s s a a o s,
recurring
revenues coupled with multi-year service contracts
75%
– Popular in government and education
buildings as it requires no capital outlay and
provides positive cash flow; offsets bonding,
tax revenue issues
New
Construction – Primarily North America
25% – Clinton Climate Initiative bringing
performance contracting to new markets
20
21. Building Efficiency
High level of recurring revenues
Building Efficiency commercial building sales
Retrofit
– Primarily replacement of HVAC
Service and equipment and controls at end of life or
recurring
failure
revenues
– Not generally deferrable for prolonged
75%
periods
– Includes engineering and installation
services
New
Construction
25%
21
22. Building Efficiency
High level of recurring revenues
Building Efficiency commercial building sales
North America
– High concentration in quot;institutionalquot;
buildings
Service and
recurring -Government, healthcare education
Government healthcare,
revenues
-Institutional sector historically
75%
performs significantly better than
overall construction market; true this
cycle as well
-Slowing, but no radical decline
New
Construction International
It ti l
25%
– Europe down mid-single digits
– Middle East significantly lower
– China up low double digit
double-digit
22
23. Non-residential buildings
High level of visibility
Backlog Visibility of future
performance
Updated quarterly
$4.7 B backlog ( 8%) at
(+8%)
Signed contract; work not yet completed
Si d k ld December 31, 2008
Converts to revenue in 6-9 months Pipeline stable
Not included: Workplace Solutions or Unitary -New construction down
(residential) Products businesses -Existing buildings up single digits
Historically low backlog cancellation rate -Strength in federal, healthcare
and higher education
– Contracts typically awarded after financing is in
place & work has begun
p g
– Tighter credit could have impact, but no atypical
cancellations to date
Pipeline
“Pipeline” tracking of bid activity
Precursor to backlog. 6-9 months of additional
visibility
23
24. Building Efficiency positives
Federal investments in energy efficiency
American Recovery and
“We would prefer spending money on things
Reinvestment Bill (ARRP) of 2009
like making sure all Federal buildings are energy
efficient so that taxpayers are saving money over
ffi i t th t t i
Significant funds for government and
the long term.
school building energy efficiency
“We will modernize more than 75% of federal
Johnson Controls advantaged to win
buildings and improve the energy efficiency of
two million American homes. new business
“In the process, we will put Americans to work
– Government procurement processes
in new jobs—jobs constructing fuel efficient cars
j j g
in place
and buildings.”
– Long history of successful projects
-President Barack Obama
January 8, 2009
8
Positive impact likely not until FY 2010
24
25. Building Efficiency positives
Federal investments in energy efficiency
Prepared to take advantage of the new opportunities
Existing Federal government business unit
– Expanded sales force
Enhanced vertical segment teams
– Expertise and focus around State government higher education
government, education,
K-12 schools and hospitals; all are slated to receive funding
through the ARRP
Unmatched sales/service branch office network
Renewable Energy Center of Excellence
– Positions Johnson Controls to capture integrated renewables
opportunities contemplated under the ARRP
Structure in place to support government accountability,
transparency and assured outcomes
25
26. 2009: uncertainties continue
Withdrew quarterly and full year
Remainder of 2009
guidance December 16, 2008
Our i d t i
O industries remain volatile
i l til
Forecast a loss for Q1 2009
Uncertainties remain
Rapidly deteriorating automotive
p
production g
globally
y
Expecting a 2009 Q2 loss of
similar scale to Q1 operating
Financial viability of North American
automotive customers uncertain loss
Worsening residential markets
W i id ti l kt – Improved performance by
Building Efficiency and
Uncertainties and industry volatility
Power Solutions
makes it difficult to provide meaningful
businesses
bi
guidance
26
27. Taking action
Aligning our cost structure with the market environment
$495 million restructuring Additional actions
announced in Q4 2008
General hiring freeze
g
Expected payback in less than 2.5 years
Wage freeze/reductions
Workforce reductions
Elimination of annual bonuses for
corporate executives
Plant consolidations
Investigating alternative work schedules
– 18 Automotive Experience
(4-day weeks, etc)
– 2 Power Solutions
– 1 Building Efficiency
27
28. Taking action
Protecting liquidity
Protection actions
Liquidity
5 year $2.05B revolver expires Capital spending outlook reduced from
December 2011
$900 million to approximately $600-
Minimal debt maturities in next 2 years
$650 million
$1B of additional committed /
uncommitted bank lines Held dividend payout steady
Debt covenant – Uncertainties around financial viability of
– Minimum shareholder equity of $1.3 billion U.S. auto manufacturers
– Shareholder equity at 12/31/08: $8.3 billion
$8 3
Halted acquisition activity
Reduced voluntary pension contribution
Conservative financial
management to ensure we – $100 million contribution i Q1 will d f
illi t ib ti in Q1; ill defer
manage the short-term further payments while uncertainties
environment while assuring remain
long-term success
28
29. Managing through the current environment
Taking advantage of the
Maintain our long-term, sustainable growth
philosophy opportunities created by
this economic cycle to
– Balance near term performance while ensuring
robust long-term business success
Gain share
– Invest in innovation
Improve
p
–M
Manage the short-term environment in concert
th h t t i ti t
competitiveness
with long-term goals
Enhance our
Aligning our cost structure with the realities of the
leadership position
market
Benefit from global mega-trends
– Energy efficiency
– Sustainability / Greenhouse gas reduction
– Emerging markets
Protect liquidity
29