This document provides an overview and agenda for Lear Corporation's presentation at the 2006 Morgan Stanley Global Automotive Conference. The presentation will cover Lear's company overview, product strategies and operating priorities, and financial update. Lear aims to focus its product lines and improve global competitiveness. It seeks to strengthen its leadership in seating and grow its electrical and electronic products while exploring strategic options for its interior business. Lear works to improve quality, diversify its customer base, and lower costs through restructuring and expanding its global low-cost footprint.
The annual shareholder meeting agenda included presentations on Lear's profile and strategic evolution, product line strategies and operating priorities, and financial review and outlook. Lear is a global automotive supplier serving major automakers worldwide. It has undergone a strategic evolution from a seat manufacturer to a systems integrator and provider of total interior capabilities. In recent years, Lear has focused on growing its business in Asia and with Asian customers through new programs, facilities, and joint ventures. It is also working to improve the profitability of its interiors business and achieve a competitive cost structure through restructuring actions.
Lear Corporation held its annual meeting of stockholders on May 8, 2008. The agenda included presentations on major 2007 accomplishments, 2007 financial results and 2008 outlook, and corporate strategy and summary. For 2007 accomplishments, Lear highlighted significant restructuring progress, improved financial results and balance sheet strengthening, divesting its North American Interior business, and maintaining quality and innovation momentum. Lear's 2008 outlook projected net sales of approximately $15.5 billion and core operating earnings between $660-700 million, despite a forecasted 6% decline in North American auto production for the year. Lear's strategy focuses on leveraging its global scale and diversification to strengthen performance.
Lear Corporation reported first quarter 2005 results with net sales down 5% to $4.3 billion due to a decline in key platform volumes. Net income was $15.6 million including a one-time tax benefit. The company provided second quarter and full year 2005 guidance with net sales expected to increase but net income per share in the range of $2.75-$3.25 due to adverse platform mix and commodity costs. Lear will focus on cost improvements, launching new programs, and evaluating its global business to improve long-term profitability.
This document summarizes a presentation given by Auto Analysts of New York at the 2006 Detroit Auto Show Conference on January 12, 2006. The presentation covers business conditions, the 2006 outlook, and sales backlog updates. It notes that global business conditions remain challenging, but that Lear's 2006 financial outlook is expected to improve, with earnings growth and positive free cash flow. Lear also has a strong three-year sales backlog of $3 billion to support growth, despite challenges in the interior product segment.
The document provides an overview of Lear Corporation's presentation at the 2004 UBS Paris Auto Show Investor Conference. [1] It discusses key industry trends such as increasing consumer demand for interior features and integration. [2] Lear outlines its strategic evolution from a supplier of seat components to a total interior systems provider. [3] The presentation highlights Lear's global growth strategy, operational excellence initiatives, and progress reducing its debt levels.
2007 Financial Analyst Meeting Presentation Please Note: This is a large doc...finance7
This document contains the transcript of a presentation by Motorola executives. It discusses Motorola's mobile device business, including its market share, product portfolio, inventory situation, and path to double-digit operating margins. The presentation focuses on enhancing Motorola's product portfolio across mass market, feature phones, multimedia, and productivity segments. It also outlines Motorola's strategies to improve go-to-market effectiveness and drive efficiency in the business. Separate sections discuss the government and public safety business as well as the enterprise mobility solutions business.
dana holdings CADF2722-6DAB-4150-AF59-82832D202677_Barclays021009finance42
Dana Holding Corporation presented at the Barclays Capital Industrial Select Conference on February 10, 2009. The presentation focused on Dana's key priorities in 2008, which included rebuilding its team with new leadership, jump-starting operations through cost reduction initiatives, addressing strategic issues, and improving financial performance. Dana outlined actions taken in each area, including leadership changes, plant closures and workforce reductions, and aggressive pricing negotiations. The presentation also provided an overview of Dana's diverse markets, geographic revenues, customers, and debt maturity profile as context.
Onion model describes the different roadmap variants from strategy roadmap to product roadmap.
Sipuli-malli kuvaa eri roadmap tasot strategia roadmapista aina tuote-roadmappiin asti.
The annual shareholder meeting agenda included presentations on Lear's profile and strategic evolution, product line strategies and operating priorities, and financial review and outlook. Lear is a global automotive supplier serving major automakers worldwide. It has undergone a strategic evolution from a seat manufacturer to a systems integrator and provider of total interior capabilities. In recent years, Lear has focused on growing its business in Asia and with Asian customers through new programs, facilities, and joint ventures. It is also working to improve the profitability of its interiors business and achieve a competitive cost structure through restructuring actions.
Lear Corporation held its annual meeting of stockholders on May 8, 2008. The agenda included presentations on major 2007 accomplishments, 2007 financial results and 2008 outlook, and corporate strategy and summary. For 2007 accomplishments, Lear highlighted significant restructuring progress, improved financial results and balance sheet strengthening, divesting its North American Interior business, and maintaining quality and innovation momentum. Lear's 2008 outlook projected net sales of approximately $15.5 billion and core operating earnings between $660-700 million, despite a forecasted 6% decline in North American auto production for the year. Lear's strategy focuses on leveraging its global scale and diversification to strengthen performance.
Lear Corporation reported first quarter 2005 results with net sales down 5% to $4.3 billion due to a decline in key platform volumes. Net income was $15.6 million including a one-time tax benefit. The company provided second quarter and full year 2005 guidance with net sales expected to increase but net income per share in the range of $2.75-$3.25 due to adverse platform mix and commodity costs. Lear will focus on cost improvements, launching new programs, and evaluating its global business to improve long-term profitability.
This document summarizes a presentation given by Auto Analysts of New York at the 2006 Detroit Auto Show Conference on January 12, 2006. The presentation covers business conditions, the 2006 outlook, and sales backlog updates. It notes that global business conditions remain challenging, but that Lear's 2006 financial outlook is expected to improve, with earnings growth and positive free cash flow. Lear also has a strong three-year sales backlog of $3 billion to support growth, despite challenges in the interior product segment.
The document provides an overview of Lear Corporation's presentation at the 2004 UBS Paris Auto Show Investor Conference. [1] It discusses key industry trends such as increasing consumer demand for interior features and integration. [2] Lear outlines its strategic evolution from a supplier of seat components to a total interior systems provider. [3] The presentation highlights Lear's global growth strategy, operational excellence initiatives, and progress reducing its debt levels.
2007 Financial Analyst Meeting Presentation Please Note: This is a large doc...finance7
This document contains the transcript of a presentation by Motorola executives. It discusses Motorola's mobile device business, including its market share, product portfolio, inventory situation, and path to double-digit operating margins. The presentation focuses on enhancing Motorola's product portfolio across mass market, feature phones, multimedia, and productivity segments. It also outlines Motorola's strategies to improve go-to-market effectiveness and drive efficiency in the business. Separate sections discuss the government and public safety business as well as the enterprise mobility solutions business.
dana holdings CADF2722-6DAB-4150-AF59-82832D202677_Barclays021009finance42
Dana Holding Corporation presented at the Barclays Capital Industrial Select Conference on February 10, 2009. The presentation focused on Dana's key priorities in 2008, which included rebuilding its team with new leadership, jump-starting operations through cost reduction initiatives, addressing strategic issues, and improving financial performance. Dana outlined actions taken in each area, including leadership changes, plant closures and workforce reductions, and aggressive pricing negotiations. The presentation also provided an overview of Dana's diverse markets, geographic revenues, customers, and debt maturity profile as context.
Onion model describes the different roadmap variants from strategy roadmap to product roadmap.
Sipuli-malli kuvaa eri roadmap tasot strategia roadmapista aina tuote-roadmappiin asti.
Everest Group Performance | Experience | Ability | Knowledge (PEAK) Matrix™ provides an objective, data-driven comparative assessment of third-party outsourcing service providers specific to a market segment (function, process, industry vertical).
dana holdings 9A1CE957-B9FA-4AEB-B390-1F304160E552_JPMorgan020309finance42
Dana Holding Corporation presented at the J.P. Morgan Global High Yield & Leveraged Finance Conference on February 3, 2009. The presentation focused on Dana's key priorities in 2008, which included rebuilding its management team, jump-starting operations through cost reduction actions, addressing strategic issues, and improving financial performance. Dana also discussed its diverse markets, geographic revenues, customer base, debt maturity profile, and pension management issues. The presentation provided an overview of Dana's actions taken in 2008 and outlook for 2009.
This document summarizes a presentation by Phil Martens, President of Light Vehicle Systems at ArvinMeritor, at the 2008 Morgan Stanley Global Automotive Conference. The presentation outlines ArvinMeritor's priorities for 2008, which include radically improving costs through restructuring, improving free cash flow, capitalizing on growth in emerging markets, aligning with key customers, and launching new products. Examples of actions taken to achieve the priorities are provided. Financial assumptions for 2008 are also presented.
- Goodrich provides an outlook for 2006 with sales expected between $5.6-5.7 billion and EPS expected between $2.25-2.45 per share excluding certain tax settlements.
- Cash flow from operations is expected to be $100-150 million after capital expenditures of $240-260 million. An additional $90 million in cash is expected from the sale of Turbomachinery Products.
- Strong sales and margin growth is expected to continue, with the goal of achieving mid-teens segment operating margins by 2009-2010 through operational excellence and volume leverage on new programs.
This document provides an overview of Goodrich Corporation presented at the 25th Annual Industrial Select Conference hosted by Lehman Brothers. It summarizes Goodrich's balanced portfolio, including original equipment and aftermarket sales across commercial aerospace, defense, and space markets. Charts are included showing trends in commercial aircraft delivery forecasts, key platform maturity, and growth in the A320 fleet.
This investor presentation provides an overview of AMG Advanced Metallurgical Group N.V.:
- AMG is a global specialty metals and mineral company with revenues of $1.35 billion in 2011 across four business units.
- Recent developments include appointing new presidents for AMG Mining and AMG Aluminum to improve operations.
- In Q1 2012, AMG acquired over 5.4% of shares in Graphit Kropfmühl through a voluntary tender offer.
The E-Truck Task Force drafted findings and recommendations from its work identifying barriers to electric truck adoption. The Task Force included over 30 members from fleets, manufacturers, utilities and government agencies. It conducted surveys to understand perceptions and needs regarding electric truck performance, business cases, manufacturing and incentives. The draft report includes action plans and tools to address key barriers to accelerate electric truck production and use.
dana holdings CC934DB3-89EA-454B-A087-C075C5972F55_AANYPres_011409finance42
Dana Holding Corporation presented at the Automotive Analysts' Society of New York Detroit Auto Conference on January 14, 2009. The presentation focused on Dana's key priorities in 2008, which included rebuilding the management team, jump-starting global operations, addressing strategic issues, and improving financial performance. Dana also discussed its actions to reduce costs through job cuts, plant closures, and supply chain improvements. Looking ahead, Dana will evaluate certain business units for strategic fit and focus on capturing pricing actions to boost margins.
This investor presentation provides an overview of AMG Advanced Metallurgical Group N.V. It describes AMG's business units which produce high-value specialty metals and engineering systems. These products are used in end markets like energy, aerospace, and infrastructure. The presentation also outlines AMG's financial performance in recent years and why investors should consider the company, noting its revenue and EBITDA growth as well as focus on critical and specialty raw materials.
The report analyzes the low voltage component distribution (LVCD) market in Bangladesh for Energypac Engineering Limited. It finds that ABB holds the largest market share at 33% followed by Legrand and Fuji at 15% each. Some of the key marketing problems identified for Energypac include a lack of competitive credit policies compared to other brands, inconsistent marketing strategies, and inadequate market segmentation. The report conducts a SWOT analysis and identifies opportunities for Energypac to improve brand awareness, pricing, and distribution to better compete in the growing LVCD market.
Tenneco Inc. is a global designer and manufacturer of emission control and ride control products for automotive and aftermarket applications. In 2005:
1) Revenues increased 5% to $4.44 billion from strong growth in Europe, South America, India, and China.
2) Earnings before interest and taxes were $215 million, up 24% over 2004.
3) The company continued expanding globally with new facilities, products, and platforms launched across North America, Europe, Asia, and South America.
Htuf new directions jan-30-13 webinar finalCALSTART
The document summarizes plans for the High-Efficiency Truck Users Forum (HTUF) in 2013, including refreshed strategies and goals. Key points include:
1. Forming new Commercial Truck and Military Truck Action Groups to identify priorities and form working groups around cross-cutting issues.
2. Shifting from vehicle-based working groups to focus on priority cross-cutting issues like expanding state incentives and improving fleet deployment practices.
3. Holding regional meetings in addition to an annual meeting to better engage fleets and showcase technologies.
The changes aim to increase industry engagement and ensure working groups are action-oriented on the most relevant issues to accelerate commercialization of efficient truck technologies.
Honeywell Bank of America 36th Annual Investment Conference Presentationfinance8
Dave Anderson, Senior Vice President and CFO of Bank of America, presented at an investment conference on September 18, 2006. He discussed Honeywell's financial performance in the first half of 2006, with sales up 12% and segment profit up 23% compared to the first half of 2005. He also projected full year 2006 sales to increase around 12% to approximately $31 billion, and segment profit margin to expand to around 13.4%. Anderson emphasized Honeywell's focus on organic growth and margin expansion across its four business segments.
This document provides a summary of Goodrich Corporation's presentation at the Gabelli 11th Annual Aircraft Supplier Conference in New York on September 8, 2005. Goodrich is one of the largest aerospace suppliers worldwide with over 22,100 employees. It has leadership positions in key aerospace markets such as nacelles, engines, sensors, and avionics. New programs like the Airbus A380 and Boeing 787 are expected to provide significant future sales growth opportunities. Goodrich aims to achieve top quartile returns through balanced growth, operational excellence, and effective resource allocation.
This document is an investor presentation for The Timken Company from March 2009. It provides an overview of Timken's businesses, strategies, and financial performance. Key points include:
- Timken operates in industrial and automotive markets globally, with a focus on friction management and power transmission solutions.
- The company has transformed its portfolio in recent years through acquisitions and divestitures to focus on more profitable industrial sectors.
- Timken aims to enhance existing products/services, leverage technology, capture new opportunities, and improve efficiency to drive shareholder returns.
- The presentation reviews Timken's strategic focus areas and financial targets for 2009 and beyond across its business segments.
The document summarizes Lear Corporation's presentation at the 2006 Paris Auto Show JPMorgan Investor Conference. It discusses Lear's strategic evolution from an automotive seat manufacturer to an interior systems supplier. It also reviews Lear's financial performance, global competitiveness improvements through restructuring initiatives, new product innovations, and customer awards. Major launches for the second half of 2006 and 2007 are highlighted for North America, Europe, and Asia.
This document provides an agenda and summaries from Lear Corporation's 2005 Annual Meeting of Shareholders. The agenda includes presentations on the company's strategic and financial review, and operating reviews of their Americas and International segments. Key points from the presentations include that Lear has rapidly grown sales from $3.1 billion in 1994 to $17 billion in 2004 through strategic acquisitions and diversification. They have also reduced debt levels and improved profitability in recent years. However, results in 2005 are expected to be negatively impacted by adverse platform mix and lower industry production volumes and higher raw material costs.
The document summarizes Lear Corporation's first quarter 2004 earnings review. Key points include:
- Record first quarter net sales of $4.5 billion and net income per share of $1.30.
- European operations and content per vehicle continue to improve.
- The Grote & Hartmann acquisition will strengthen Lear's position in electrical distribution systems.
- Full year 2004 net income per share guidance remains unchanged at $5.55 to $5.85 despite challenges in the automotive industry.
The document is an agenda for the AANY Detroit Automotive Conference on January 8, 2004. It includes a strategic overview presentation by the Chairman and CEO of Lear Corporation, as well as presentations on industry challenges, Lear's sales backlog and 2004 financial guidance. Lear is a leading automotive interior supplier focused on profitable growth. It has a large sales backlog supporting continued growth and its 2004 outlook forecasts record sales and earnings. Lear is well positioned despite challenges in the automotive industry through its customer-focused strategy and flexible cost structure.
The document provides a summary of an automotive conference presentation by Bob Rossiter, Chairman and CEO of Lear Corporation. It discusses Lear's business and financial update, product strategy overview, and outlook. Specifically, it summarizes that Lear is implementing a global restructuring plan while working with customers on pricing. It is evaluating strategic options for its interior products business, including potential partnerships. Despite challenges, Lear remains committed to maintaining a strong financial position while focusing growth on its seating and electrical/electronics systems.
Lear provided an overview of its annual meeting and discussed its strategy, priorities, and financial results. It highlighted completing the divestiture of its interior business in 2006, focusing on its core businesses of seating, electronics, and electrical distribution. Lear also discussed expanding its presence in Asia, implementing a global restructuring initiative to reduce costs, and improving its financial results and liquidity position in 2006. For 2007, Lear outlined projections for flat production in North America, 1% growth in Europe, and expectations of $14.8 billion in net sales and $600-640 million in core operating earnings.
Everest Group Performance | Experience | Ability | Knowledge (PEAK) Matrix™ provides an objective, data-driven comparative assessment of third-party outsourcing service providers specific to a market segment (function, process, industry vertical).
dana holdings 9A1CE957-B9FA-4AEB-B390-1F304160E552_JPMorgan020309finance42
Dana Holding Corporation presented at the J.P. Morgan Global High Yield & Leveraged Finance Conference on February 3, 2009. The presentation focused on Dana's key priorities in 2008, which included rebuilding its management team, jump-starting operations through cost reduction actions, addressing strategic issues, and improving financial performance. Dana also discussed its diverse markets, geographic revenues, customer base, debt maturity profile, and pension management issues. The presentation provided an overview of Dana's actions taken in 2008 and outlook for 2009.
This document summarizes a presentation by Phil Martens, President of Light Vehicle Systems at ArvinMeritor, at the 2008 Morgan Stanley Global Automotive Conference. The presentation outlines ArvinMeritor's priorities for 2008, which include radically improving costs through restructuring, improving free cash flow, capitalizing on growth in emerging markets, aligning with key customers, and launching new products. Examples of actions taken to achieve the priorities are provided. Financial assumptions for 2008 are also presented.
- Goodrich provides an outlook for 2006 with sales expected between $5.6-5.7 billion and EPS expected between $2.25-2.45 per share excluding certain tax settlements.
- Cash flow from operations is expected to be $100-150 million after capital expenditures of $240-260 million. An additional $90 million in cash is expected from the sale of Turbomachinery Products.
- Strong sales and margin growth is expected to continue, with the goal of achieving mid-teens segment operating margins by 2009-2010 through operational excellence and volume leverage on new programs.
This document provides an overview of Goodrich Corporation presented at the 25th Annual Industrial Select Conference hosted by Lehman Brothers. It summarizes Goodrich's balanced portfolio, including original equipment and aftermarket sales across commercial aerospace, defense, and space markets. Charts are included showing trends in commercial aircraft delivery forecasts, key platform maturity, and growth in the A320 fleet.
This investor presentation provides an overview of AMG Advanced Metallurgical Group N.V.:
- AMG is a global specialty metals and mineral company with revenues of $1.35 billion in 2011 across four business units.
- Recent developments include appointing new presidents for AMG Mining and AMG Aluminum to improve operations.
- In Q1 2012, AMG acquired over 5.4% of shares in Graphit Kropfmühl through a voluntary tender offer.
The E-Truck Task Force drafted findings and recommendations from its work identifying barriers to electric truck adoption. The Task Force included over 30 members from fleets, manufacturers, utilities and government agencies. It conducted surveys to understand perceptions and needs regarding electric truck performance, business cases, manufacturing and incentives. The draft report includes action plans and tools to address key barriers to accelerate electric truck production and use.
dana holdings CC934DB3-89EA-454B-A087-C075C5972F55_AANYPres_011409finance42
Dana Holding Corporation presented at the Automotive Analysts' Society of New York Detroit Auto Conference on January 14, 2009. The presentation focused on Dana's key priorities in 2008, which included rebuilding the management team, jump-starting global operations, addressing strategic issues, and improving financial performance. Dana also discussed its actions to reduce costs through job cuts, plant closures, and supply chain improvements. Looking ahead, Dana will evaluate certain business units for strategic fit and focus on capturing pricing actions to boost margins.
This investor presentation provides an overview of AMG Advanced Metallurgical Group N.V. It describes AMG's business units which produce high-value specialty metals and engineering systems. These products are used in end markets like energy, aerospace, and infrastructure. The presentation also outlines AMG's financial performance in recent years and why investors should consider the company, noting its revenue and EBITDA growth as well as focus on critical and specialty raw materials.
The report analyzes the low voltage component distribution (LVCD) market in Bangladesh for Energypac Engineering Limited. It finds that ABB holds the largest market share at 33% followed by Legrand and Fuji at 15% each. Some of the key marketing problems identified for Energypac include a lack of competitive credit policies compared to other brands, inconsistent marketing strategies, and inadequate market segmentation. The report conducts a SWOT analysis and identifies opportunities for Energypac to improve brand awareness, pricing, and distribution to better compete in the growing LVCD market.
Tenneco Inc. is a global designer and manufacturer of emission control and ride control products for automotive and aftermarket applications. In 2005:
1) Revenues increased 5% to $4.44 billion from strong growth in Europe, South America, India, and China.
2) Earnings before interest and taxes were $215 million, up 24% over 2004.
3) The company continued expanding globally with new facilities, products, and platforms launched across North America, Europe, Asia, and South America.
Htuf new directions jan-30-13 webinar finalCALSTART
The document summarizes plans for the High-Efficiency Truck Users Forum (HTUF) in 2013, including refreshed strategies and goals. Key points include:
1. Forming new Commercial Truck and Military Truck Action Groups to identify priorities and form working groups around cross-cutting issues.
2. Shifting from vehicle-based working groups to focus on priority cross-cutting issues like expanding state incentives and improving fleet deployment practices.
3. Holding regional meetings in addition to an annual meeting to better engage fleets and showcase technologies.
The changes aim to increase industry engagement and ensure working groups are action-oriented on the most relevant issues to accelerate commercialization of efficient truck technologies.
Honeywell Bank of America 36th Annual Investment Conference Presentationfinance8
Dave Anderson, Senior Vice President and CFO of Bank of America, presented at an investment conference on September 18, 2006. He discussed Honeywell's financial performance in the first half of 2006, with sales up 12% and segment profit up 23% compared to the first half of 2005. He also projected full year 2006 sales to increase around 12% to approximately $31 billion, and segment profit margin to expand to around 13.4%. Anderson emphasized Honeywell's focus on organic growth and margin expansion across its four business segments.
This document provides a summary of Goodrich Corporation's presentation at the Gabelli 11th Annual Aircraft Supplier Conference in New York on September 8, 2005. Goodrich is one of the largest aerospace suppliers worldwide with over 22,100 employees. It has leadership positions in key aerospace markets such as nacelles, engines, sensors, and avionics. New programs like the Airbus A380 and Boeing 787 are expected to provide significant future sales growth opportunities. Goodrich aims to achieve top quartile returns through balanced growth, operational excellence, and effective resource allocation.
This document is an investor presentation for The Timken Company from March 2009. It provides an overview of Timken's businesses, strategies, and financial performance. Key points include:
- Timken operates in industrial and automotive markets globally, with a focus on friction management and power transmission solutions.
- The company has transformed its portfolio in recent years through acquisitions and divestitures to focus on more profitable industrial sectors.
- Timken aims to enhance existing products/services, leverage technology, capture new opportunities, and improve efficiency to drive shareholder returns.
- The presentation reviews Timken's strategic focus areas and financial targets for 2009 and beyond across its business segments.
The document summarizes Lear Corporation's presentation at the 2006 Paris Auto Show JPMorgan Investor Conference. It discusses Lear's strategic evolution from an automotive seat manufacturer to an interior systems supplier. It also reviews Lear's financial performance, global competitiveness improvements through restructuring initiatives, new product innovations, and customer awards. Major launches for the second half of 2006 and 2007 are highlighted for North America, Europe, and Asia.
This document provides an agenda and summaries from Lear Corporation's 2005 Annual Meeting of Shareholders. The agenda includes presentations on the company's strategic and financial review, and operating reviews of their Americas and International segments. Key points from the presentations include that Lear has rapidly grown sales from $3.1 billion in 1994 to $17 billion in 2004 through strategic acquisitions and diversification. They have also reduced debt levels and improved profitability in recent years. However, results in 2005 are expected to be negatively impacted by adverse platform mix and lower industry production volumes and higher raw material costs.
The document summarizes Lear Corporation's first quarter 2004 earnings review. Key points include:
- Record first quarter net sales of $4.5 billion and net income per share of $1.30.
- European operations and content per vehicle continue to improve.
- The Grote & Hartmann acquisition will strengthen Lear's position in electrical distribution systems.
- Full year 2004 net income per share guidance remains unchanged at $5.55 to $5.85 despite challenges in the automotive industry.
The document is an agenda for the AANY Detroit Automotive Conference on January 8, 2004. It includes a strategic overview presentation by the Chairman and CEO of Lear Corporation, as well as presentations on industry challenges, Lear's sales backlog and 2004 financial guidance. Lear is a leading automotive interior supplier focused on profitable growth. It has a large sales backlog supporting continued growth and its 2004 outlook forecasts record sales and earnings. Lear is well positioned despite challenges in the automotive industry through its customer-focused strategy and flexible cost structure.
The document provides a summary of an automotive conference presentation by Bob Rossiter, Chairman and CEO of Lear Corporation. It discusses Lear's business and financial update, product strategy overview, and outlook. Specifically, it summarizes that Lear is implementing a global restructuring plan while working with customers on pricing. It is evaluating strategic options for its interior products business, including potential partnerships. Despite challenges, Lear remains committed to maintaining a strong financial position while focusing growth on its seating and electrical/electronics systems.
Lear provided an overview of its annual meeting and discussed its strategy, priorities, and financial results. It highlighted completing the divestiture of its interior business in 2006, focusing on its core businesses of seating, electronics, and electrical distribution. Lear also discussed expanding its presence in Asia, implementing a global restructuring initiative to reduce costs, and improving its financial results and liquidity position in 2006. For 2007, Lear outlined projections for flat production in North America, 1% growth in Europe, and expectations of $14.8 billion in net sales and $600-640 million in core operating earnings.
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.
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.
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.
Goodrich Corporation's annual report summarizes the company's financial performance in 2007. Key highlights include:
- Sales increased 12% to $6.4 billion due to strong growth across commercial aerospace, aftermarket, and defense/space segments.
- Segment operating margins improved from 13.5% to 16.1% while net cash from operations more than doubled to $594 million.
- The company expects continued robust growth in 2008 driven by increasing demand in all market channels.
1) Jim Kelly, President of Cummins Engine Business, presents on Cummins' performance and future opportunities at a JP Morgan conference.
2) Cummins has doubled revenue over 5 years, generated high profits, improved debt levels, and actively repurchased shares.
3) The company is executing on strategic principles like pursuing complementary businesses and profitable growth through new platforms, markets, and products.
1) Jim Kelly, President of Cummins Engine Business, presents at the JPMorgan Basics & Industrials Conference on June 12, 2007. He discusses Cummins' financial performance, growth strategies, and outlook.
2) Cummins has doubled revenue in 5 years, generated high profits, improved its balance sheet significantly, and outperformed its peer group. It is executing on strategic principles to drive continued profitable growth.
3) Cummins is well-positioned for future performance due to its technology leadership, customer relationships, investments in new opportunities, and global diversification across business segments and markets.
This document provides a summary of Lear Corporation's fourth quarter and full year 2005 results. It discusses key highlights such as net sales of $17.1 billion for the full year. It also outlines Lear's operating priorities including retaining core values like quality and customer satisfaction, refocusing plans to better align with customer sourcing strategies, and pursuing customer and regional diversification. The document reviews financial results for Q4 and full year 2005, noting challenges from industry trends. It provides details on restructuring plans and their expected benefits.
This document analyzes various automotive suppliers and their competitive landscapes. It provides an overview of Delphi Packard's business lines and competitors, then analyzes each competitor's strengths, weaknesses, opportunities, and threats. It also includes sales data for the companies and recommends strategies for Delphi Packard to improve their position in the market.
This document analyzes Delphi Packard's communication operations and provides recommendations. It includes an agenda covering competitive analysis, marketing research, the marketing mix, consumer insights, SWOT analysis, and strategies. It examines Delphi Packard's business lines and competitors, provides sales analysis and market share data. It also analyzes key competitors like Tyco, Molex, Yazaki, and evaluates their strengths, weaknesses, opportunities and threats. Finally, it proposes strategies and recommendations for Delphi Packard's business lines to enhance market share and strategic partnerships.
This document provides an agenda and overview for Lear Corporation's annual industrial conference. The 3-sentence summary is:
Lear Corporation hosted its 22nd Annual Industrial Select Conference to provide an overview of the company's strategic direction, industry trends in automotive interiors, and its approach to creating shareholder value. The presentation highlighted Lear's focus on customer satisfaction, growth in Asia, leveraging its scale and expertise, and maintaining a balanced approach to investing in the business and returning cash to shareholders. Attendees also received an update on Lear's financial position and backlog of new business to support continued profitable growth.
The 7th Annual European Manufacturing Strategies Summit 2011 will take place from 17-19 October 2011 in Düsseldorf, Germany. The summit will bring together over 300 senior manufacturing experts to discuss strengthening manufacturing operations, capitalizing on growth markets, and improving operational excellence across global operations. Topics will include developing strategies for continuous improvement, implementing best practices and lean management systems, and extending operational excellence programs globally. There will be keynote speakers, workshops, and opportunities for business networking.
This document provides an overview of an industrial technology conference presentation by R.W. Baird. The presentation discusses trends in the automotive interior industry, Lear Corporation's strategic evolution, and financial updates.
Key points include:
1) The automotive interior industry is the fastest growing segment and consumers are demanding more interior features.
2) Lear has strategically evolved from a seat components supplier to a total interior systems integrator, and has diversified its geographic, customer, and product mixes.
3) Lear is focused on aggressively expanding in Asia and with Asian automakers globally, and leveraging its leadership in North American interiors to profitably grow its business worldwide.
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 provides consolidated financial highlights for Burlington Northern Santa Fe Corporation for the years 1991-1995. Some key points:
- Revenues grew from $4.559 billion in 1991 to $6.183 billion in 1995. Operating income improved from a loss of $239 million in 1991 to income of $526 million in 1995, excluding unusual merger-related charges.
- Net income was $92 million in 1995 but would have been $416 million without accounting changes and debt retirement costs related to the merger.
- Capital expenditures were $1.042 billion in 1995 and are planned to be nearly $1.7 billion in 1996 to support revenue growth and cost reduction initiatives.
This document summarizes the financial performance of Burlington Northern Santa Fe Corporation for the years 1992-1996. It reports that in 1996:
- Operating income increased 14% to $1.75 billion compared to 1995 on a comparable basis.
- Revenues reached $8.19 billion despite a drop in agricultural commodities revenues.
- Operating expenses were $178 million below 1995 levels, lowering the operating ratio to 78.6%.
- Net income grew 21% to $889 million, or $5.70 per share, compared to $733 million in 1995.
This annual report summarizes Burlington Northern Santa Fe Corporation's financial and operational performance in 1998. Some key highlights include:
- Revenues reached a record $8.94 billion, a 6.8% increase over 1997.
- Adjusted operating income grew 16% to a record $2.16 billion.
- Adjusted net income exceeded $1.12 billion, a 19% improvement over 1997.
- The operating ratio improved to 75.9%, nearly 2 points better than 1997's adjusted ratio.
- Safety continued to improve, with reductions in reportable injuries and rail accidents.
Burlington Northern Santa Fe Corporation's 1999 Annual Report summarizes the company's performance in 1999 and compares it to 1994, the year before the BNSF merger. Key points:
1) BNSF achieved record results in safety, customer service, efficiency and financial performance in 1999 compared to 1994.
2) Safety metrics like lost workdays and injuries dropped significantly. Customer service improved with 91% on-time performance. Operating expenses per ton-mile dropped 20-25%.
3) Financial results were also much stronger, with operating income reaching a record $2.24 billion, up 14% annually from 1994. The operating ratio improved 9 points to 75.4%.
Burlington Northern Santa Fe Corporation's 2000 Annual Report summarizes the company's performance for the year. Key points include:
- Revenues grew to $9.2 billion while operating expenses only increased 1% despite a $230 million rise in fuel costs.
- Intermodal revenues increased 6% to a record level while safety and efficiency improvements were made.
- However, weak coal demand, high fuel prices, and a slow US economy impacted results for the year.
- Over the past five years since the Burlington Northern and Santa Fe merger, significant progress has been made in safety, service, efficiency and financials.
This document is the 2001 Annual Report to Shareholders for Burlington Northern Santa Fe Corporation. It contains the following key information:
1) The CEO discusses BNSF's progress on its strategic priorities of People, Growth, Ease of Doing Business, Service, and Efficiency in 2001, noting challenges from the economic slowdown but some record achievements.
2) Safety improvements were made but injuries remained level, while discussions progressed with unions on safety agreements.
3) Revenues were flat in 2001 due to economic conditions, but some business lines like Mexico grew, and new customers and services helped capture additional market share.
4) Financial results disappointed expectations for revenue and operating ratio goals, though costs
BNSF is a major railroad network in the United States that transports a variety of goods. In 2003, BNSF saw revenue growth of 5% driven by strong intermodal growth, though on-time performance fell short of goals. Safety performance reached record levels with injury rates down significantly. Looking forward, BNSF aims to continue revenue growth through initiatives like expanding intermodal capacity and pursuing market-based pricing across all business lines.
Burlington Northern Santa Fe Corporation reported earnings of $0.36 per diluted share for the first quarter of 2001, compared to $0.55 per diluted share for the same period in 2000. Freight revenues were $2.26 billion, up slightly due to a 4% increase in ton-miles. Operating expenses increased 7% to $1.87 billion due to higher fuel costs, severe winter weather, and increased energy costs. The operating ratio was 81.5% compared to 77.3% in 2000. Revenue from agricultural commodities increased 11% while industrial revenues declined 3% and coal revenues declined 1% compared to the first quarter of 2000.
The document is Burlington Northern Santa Fe Corporation's 2nd Quarter 2001 Investors' Report. It summarizes that:
1) Earnings were $0.50 per diluted share compared to $0.53 per diluted share in the same period last year, with revenues remaining even despite 2% higher ton-miles.
2) Operating expenses were $65 million higher due to factors like flooding in the Midwest and higher fuel costs.
3) Operating income decreased to $428 million from $483 million last year, and the operating ratio increased to 80.9% from 78.4% last year.
The document is Burlington Northern Santa Fe Corporation's third quarter 2001 investors' report. Key points:
- Earnings per share were $0.58 compared to $0.64 in third quarter 2000. Freight revenues were $2.31 billion, even with last year.
- Operating expenses were higher by $69 million due to increased compensation, benefits, and fuel costs. Operating income was $502 million versus $571 million in 2000.
- 4.1 million shares were repurchased in the quarter, bringing the total under the buyback program to 101.1 million shares.
- The report provides financial statements and statistics on revenues, expenses, operations, and capital expenditures for
This document provides an annual investors' report for Burlington Northern Santa Fe Corporation for 2001. It includes key financial information such as earnings results for Q4 and full year 2001, operating revenues and expenses, balance sheet information, and cash flow information. Specifically, it notes that Q4 2001 earnings were $0.46 per share including workforce reduction costs, or $0.57 per share excluding those costs. For the full year, earnings were $1.87 per share including unusual items, or $2.08 per share excluding unusual items. It also highlights free cash flow of $443 million for the full year, up 3% from 2000.
1. Burlington Northern Santa Fe reported first quarter 2002 earnings of $0.45 per share, up from $0.34 per share in first quarter 2001, which included non-recurring losses.
2. Freight revenues decreased 6% to $2.14 billion due to softer demand across all major product sectors and mild winter weather reducing coal shipments.
3. Operating expenses decreased 4% to $1.8 billion due to reductions in fuel costs, compensation, and equipment rents, partially offsetting the revenue decline.
Burlington Northern Santa Fe reported earnings of $0.51 per share for Q2 2002, up slightly from $0.50 per share in Q2 2001. Freight revenues were $2.18 billion, down 3% from the previous year, with declines in coal, agricultural products, and industrial products offsetting growth in consumer products. Operating expenses decreased 2% despite lower fuel prices, helping maintain the operating ratio at 81.4%. The company also repurchased 4.2 million shares during the quarter.
The document is Burlington Northern Santa Fe Corporation's third quarter 2002 investors' report. It includes:
- BNSF reported earnings of $0.51 per share for Q3 2002, even with adjusted earnings of $0.56 per share for the same period in 2001.
- Freight revenues were $2.28 billion for Q3 2002, even with adjusted revenues of $2.28 billion for Q3 2001.
- Operating income decreased to $421 million for Q3 2002 compared to adjusted operating income of $470 million for Q3 2001, with the operating ratio increasing to 81.6% from 79.4%.
This document provides an annual investors' report for Burlington Northern Santa Fe Corporation for 2002. It includes:
1) Key financial highlights for Q4 2002 including $0.54 earnings per share, $2.27 billion in freight revenues, and $436 million in operating income.
2) Annual 2002 results including $2.00 earnings per share, $8.87 billion in freight revenues, and $1.66 billion in operating income.
3) Details of common stock repurchases totaling approximately 116 million shares under their repurchase program.
Economic Risk Factor Update: June 2024 [SlideShare]Commonwealth
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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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1. 2006 Morgan Stanley Global Automotive Conference
April 11, 2006
Increasing Our Product-Line Focus
and Improving Our Global
Competitiveness
1
2. Agenda
Company Overview
Bob Rossiter, Chairman and CEO
Product-Line Strategies and Operating Priorities
Doug DelGrosso, President and Chief Operating Officer
Financial Update
Jim Vandenberghe, Vice Chairman and Chief Financial Officer
2
4. Lear Overview
2005 Net Sales: $17.1B
Seating Systems Electronic & Electrical Interior Products
2005 Net Sales: $11.0B 2005 Net Sales: $3.0B 2005 Net Sales: $3.1B
Manufacture, assemble Manufacture, assemble Manufacture, assemble and
supply interior systems and
and supply vehicle and supply electronic
components
seating requirements systems and components
Instrument panels and cockpit
Produce seat systems for Electrical distribution systems
automobiles and light systems Headliners and overhead
trucks Interior control and systems
Fully assembled and entertainment systems Door panels
ready for installation Flooring and acoustic
Wireless systems
systems
4
5. Longer Term Strategy*
Manage the business to improve product-line returns
Strengthen leadership position in Seating
Grow Electrical Distribution Systems and Electronic Products
Finalize and execute Interior business strategy
Improve global competitiveness
Continuously improve quality and customer satisfaction levels
Base future “productivity” agreements on cost reduction
Increase low-cost country manufacturing, sourcing and engineering
Leverage scale, expertise and common architecture strategy
Maintain a strong and flexible balance sheet
Permits operating and customer focus through all market conditions
and industry cycles
* Please see slide titled “Forward-Looking Statements” at the end of this presentation for further information.
5
6. Lear Value Proposition*
Structural cost reductions to adjust business to changing
environment
Refocused resources on core businesses and operations
Strong relationships with existing customers and changing
pricing dynamic
Developing relationships with Asian OEMs, globally
Proactive, collaborative culture with vendor base
Profitable, disciplined growth and continuing sales
diversification
Management team with extensive industry experience and
relentless focus on value
Continued success as industry dynamics evolve over next
several years
* Please see slide titled “Forward-Looking Statements” at the end of this presentation for further information.
6
8. Seating Systems Market Leadership
Europe
North America
Market
Market
Lear
Lear JCI
42%
27% 29%
JCI
41%
Faurecia
Others
23%
9% Magna Others
8% 21%
$15 billion
$14 billion
Total Global Seating Market Including
Asia / ROW About $40 Billion
Source: Lear Market Research 2004
8
9. Seating Leadership Strengths
Customer / Platform Breadth Supply all major OEMs, globally
Products across all vehicle segments
“Best-in-class” expertise across platforms
Customer Focused Industry leading benchmarking capabilities via Cost
Technology Optimization (“CTO”)
Consumer benchmarking and consumer- driven
technology
Long-term collaborative partnerships
Global Footprint Leverage R&D globally
Execute on global program launches
Quality Leader Proven launch execution
Improve perceived customer / vehicle quality
Lower overall system costs
Cost Competitive Low-cost country footprint for components
JIT assembly expense
Vertical integration capabilities
Global Reach And Experience Provides
Continuing Competitive Advantage
9
10. Seating Systems Outlook*
Lear intends to strengthen its leadership
position in seating . . .
Superior quality, leveraging common architecture
strategy, selective vertical integration and new
product innovation
Global seating margin profile expected to
return to historical levels by 2008 . . .
Supported by backlog sales, continued
diversification (by customer and platform type),
cost improvements, restructuring savings and a
return to more normal launch cost levels
* Please see slide titled “Forward-Looking Statements” at the end of this presentation for further information.
10
11. Electrical Distribution Market Overview
Europe
North America
Market
Market
Delphi
Delphi
Lear 35%
Lear
37%
13% 15%
Valeo
Others
15%
19% Others
Yazaki
35%
31%
$7 billion
$5 billion
Total Global EDS Market Including
Asia / ROW About $20 Billion
Source: Lear Market Research 2004
11
12. Electronic and Electrical
Distribution Strengths*
Continue to maintain low-cost footprint for wire harnesses
Shifted operations to Eastern Europe, Honduras, Philippines and
North Africa
Offer full electrical distribution system through selective
vertical integration of terminals and connectors
Control cost, quality and functionality
Represents 30 - 40% of wire harness cost
Complements our interior expertise by:
Designing electrical distribution throughout the interior more
efficiently
Smart junction box expertise
Enhancing strategic product development and technologies
Tire Pressure Monitoring Systems
Universal Garage Door Opener
Infotainment systems
* Please see slide titled “Forward-Looking Statements” at the end of this presentation for further information.
12
13. Electronic and Electrical
Distribution Outlook*
Pursue profitable electrical and electronics
growth globally . . .
New programs with Asian OEMs, selective
vertical integration and enhanced revenue with
new products and technologies
Maintain healthy electronic and electrical
margin profile . . .
Expanding low-cost sourcing and engineering
cost improvements, restructuring savings and
product innovation
* Please see slide titled “Forward-Looking Statements” at the end of this presentation for further information.
13
14. Estimated Global Interior Products
Market Overview
By Major Product By Major Market
ROW
Other Trim Door Panels North America
37%
26% 24% 30%
Overhead
Systems
7%
Flooring &
Instrument
Acoustics Europe
Panels
19% 33%
24%
Total Global Interior Products
Market About $30 Billion
Source: Lear Market Research 2004
14
15. Interior Products
Exploring Strategic Alternatives*
Business characteristics
Industry over-capacity
High raw material costs
Insufficient pricing
Near-term operational actions
Restructuring actions to eliminate excess capacity
Improve or resource low-return programs / components
Marginal business not being renewed
Announced LOI with WL Ross with respect to European operations
WL Ross purchased C&A Europe operations
ISD Europe expected to be combined with C&A Europe in the International
Automotive Components Group (IAC) joint venture
Lear would retain initial non-controlling equity interest in the JV of 34%
Alternatives being explored with respect to North American operations
Continue to operate under a framework agreement with WL Ross to evaluate
C&A and / or other targets
May consider outright sale of segment
Continue to selectively exit lower return business
* Please see slide titled “Forward-Looking Statements” at the end of this presentation for further information.
15
16. Innovative Product Solutions
CORE DIMENSIONS STRATEGY
COMFORT &
SAFETY ENVIRONMENTAL FLEXIBILITY CONVENIENCE INFOTAINMENT COMMONIZATION CRAFTSMANSHIP
• ProTecTM PLuS • Cushion Tilt 2nd
• Lt. Weight • ComforTec • Premium • Lear Flexible Seat • Sculpted Seat
Back panel Row Audio Architecture Technology
• Adaptive Front • Climate Seat Amplifier
2nd
Light System • Soy Foam • Remote Release • Gateway Module • Flat Flexible
Row Easy Entry • Fluid Power Motion • Rear Seat Cable
• IntelliTireTM • Polyurethane Entertainment • Passive Junction
Foam • Thin Profile Folding • Passive Entry Box • Seamless
• Car2UTMTwo- Alternatives Rear • TV Receiver Airbag Cover
• Car2UTM
Way Remote Home Analog • Smart Junction
• SmartFoldTM
Keyless Entry • Battery 3rd Automation System Box • Trim Clip
Monitory Row
• Immobilizer System • Pneumatic Seat • Insert Molded
Carpet
• Foam in Place • DC/AC • Integrated Seat
Head Impact Inverters Adjuster Module
Countermeasure
16
17. Operating Priorities*
Retain Core Values
Quality First / Customer Satisfaction
Customer / Regional Diversification
Execute our Asian Strategy
Operational Excellence
Competitive Manufacturing Cost Structure
Collaborative Cost Reduction Capability
Maintaining Labor Competitiveness
Flawless Launch Management
* Please see slide titled “Forward-Looking Statements” at the end of this presentation for further information.
17
18. Retain Core Values
Customer Satisfaction
Quality
Internal Quality Measures “Best-In Class” Launch Execution for the
GMT900
Continuous improvement
Breakthrough technology for power remote
J.D. Power Seat Quality Survey 2nd row seats for the GMT900
6% improvement in TGW over FAW - Volkswagen “Excellent Localization
Award” in China
2004
GM “Service Parts Award” (100% on time
35% improvement since 1999 delivery) in Indiana and Ontario
4 Best-in-Segment vehicles Ford “Q1 Award” in Sweden and China
Nissan “Zero Defects” Toluca, Mexico
Full-size Car: Ford 500
Toyota “Quality Award” Port Huron, MI
Pickup: Chevrolet Avalanche
Volkswagen “Supplier Award 2005”
Sport Utility: BMW X3
Besigheim, Germany
Van: Chevrolet Express Autodata Magazine “Among the Best in the
Automotive Sector 2005”
Highest quality major seat
supplier for past five years Honored by Toyota for Superior Supplier
Diversity and Excellence in Quality 2006
Source: J.D. Power 2005
18
19. Key to Sales Diversification Success
• Customer Satisfaction
• Flawless Quality
• Increase Sales
Target Customers: Major Japanese, Korean
And Chinese Automakers
19
20. Continue to Diversify Customer Base*
Revenue in Asia and with Asian Manufacturers 2005 Performance Highlights
Supported successful launch of
(in millions)
Hyundai’s first North American plant
(seats, wiring, TPMS)
Four recent program awards with
Nissan (seats, wiring, carpets)
R
G 29%
CA
%
40 Two new manufacturing facilities in
$2,200
China to support Hyundai and BMW
$1,800
27%
Established TACLE JV - strategic for
$1,250 29% 71%
entry into Nissan seat programs
$800 73%
32%
71%
16%
68%
2006 Key Launches Lear Content
84%
Hyundai Santa Fe Seats, TPMS
Nissan Versa OH Systems, Trim
2002 2003 2004 2005 2008
Nissan Sentra OH Systems, Trim
Outlook
Non-consolidated Ford Galaxy (China) Seats
Consolidated
Rapid Growth In Asian Sales Led By Expanding
Relationships With Hyundai, Nissan And Toyota
* Please see slide titled “Forward-Looking Statements” at the end of this presentation for further information.
20
21. Operational Excellence
Competitive Manufacturing Cost Structure*
Pretax Restructuring Costs
Restructuring Objectives
(in millions)
Eliminate excess capacity
Eliminate excess capacity $120 - 150
Accelerate move to lower-
Accelerate move to lower-
cost sources
cost sources $103
Streamline organization and
Streamline organization and
improve operational efficiency
improve operational efficiency
2005 2006+
Estimated Payback Of Restructuring
Initiatives Is 2.5 Years
* Please see slide titled “Forward-Looking Statements” at the end of this presentation for further information.
21
22. Restructuring Actions – Update*
2005 Actions
Initiated closure of 7 manufacturing facilities in US, Mexico and Europe to improve competitiveness
– 4 plants closed to eliminate excess / inefficient manufacturing capacity
– 3 plants closed with operations moving to low-cost countries, including Romania, Turkey and
Mexico
Initiated actions affecting 27 other manufacturing facilities and administrative offices including:
– Improved or resourced low-return programs / components
– Eliminated excess / inefficient capacity
– Headcount reductions at manufacturing facilities and administrative offices
2006/2007 Actions
Evaluating closure of 10 additional manufacturing facilities
– 4 plants to be closed to eliminate excess manufacturing capacity
– 6 plants to be closed with operations moving to low-cost regions / countries, including Eastern
Europe and Mexico
Evaluating actions affecting 7 other manufacturing facilities and administrative offices
– Primarily headcount reduction actions at manufacturing facilities and administrative offices
Timing of individual plant actions remains flexible given labor, government and customer
negotiations
Announced customer capacity reductions considered in existing restructuring estimates
* Please see slide titled “Forward-Looking Statements” at the end of this presentation for further information.
22
23. Lear’s Low-Cost Global Footprint
Manufacturing, Supply and Engineering Locations
Manufacturing and Supply Sources
Europe
Europe
Czech Republic
Czech Republic
Estonia
Estonia
Hungary
Hungary
Poland
Poland
Romania
Romania
Slovakia
Slovakia
Turkey
Turkey
Asia
Asia
Philippines
Philippines
China
China
Korea
Korea
Taiwan
Taiwan
Thailand
Thailand
Engineering Centers
South America
South America
Asia
Brazil Asia
Brazil
China
China
Argentina
Argentina
India
India
Honduras
Honduras
Philippines
Philippines
Approximately 25% of sales manufactured in low-cost locations
Move to low-cost countries accelerated through restructuring activities
– Execution risk is limited due to existing operations and experience. Limited investment required, utilizing
existing facilities.
23
24. Global Footprint – Selection Criteria
High Labor Content
Examples Include:
High Pack Density
Connectors
–
Available Raw Material – Key Fobs
CRITERIA
Grab Handles
–
No Patent Issues
– Cut and Sew
– Misc. Switches
Minimal Investment Required
– Equipment / Tooling / Racks
– Seat Components
Minimal Engineering Changes
– Seat Motors
RKE Receiver
–
Quality LCC Supplier Available
Increased Low-Cost Buy From 17% In 2002
To 24% In 2005; Targeting Additional 3% In 2006
24
25. Cost Technology Optimization (CTO) Centers
North America
North America
Dearborn, Michigan
Dearborn, Michigan
Southfield, Michigan
Southfield, Michigan
Europe, EDS
Europe, EDS
Valls, Spain
Valls, Spain
Europe, Seating/Interior Products
Europe, Seating/Interior Products
Munich, Germany
Munich, Germany
Asia, Electrical
Asia, Electrical
Cebu, Philippines
Cebu, Philippines
South America
South America
Sao Paulo, Brazil
Sao Paulo, Brazil
6 Global CTO Centers Evaluate All Areas
For Cost Reduction
25
26. Collaborative Cost Reduction Example*
Toyota Sienna Seat Example:
Description of Opportunity Savings
Utilize Lear Leather Affected Vehicle Toyota Sienna
*All other New Potential Vehicles ie.,
Benefit(s) Canada and San Antonio
Current Sienna
• Expert in leather and product
development Vehicle Affected Volume
• Supplier to major OEM’s
Sienna 49,152
• Low logistical risk
All other vehicle volume 87,000
• Diversified crust supply base
• Improved supply chain management
Annual Savings
• Complete pipeline management
• Improved warranty costs
Sienna $1.5M
• Superior quality
All Other North American
Savings $1.0M
Proposed Seat Action Required
Lear Leather
• TEMA to approve Lear Leather Investment
(Place on Leather Shelf)
Sienna $98,100
• TEMA to write ECI to approve Lear
Leather on Sienna.
Current Customers Implementation Target Date Lifetime Savings
• September 2006 Sienna $7.5M (5 Years)
• Hyundai Ford GM
* Please see slide titled “Forward-Looking Statements” at the end of this presentation for further information.
26
27. Operational Excellence
Maintaining Labor Competitiveness*
Regular, open dialogue with all unions
Candid assessment of business outlook
Establish broad competitiveness framework
No master contract; considerable plant flexibility
Relatively young workforce; small percent of retirees
No significant legacy cost or barriers to competitiveness
Productive History Of Working Together With Labor;
Long-Term Competitiveness Expected To Continue
* Please see slide titled “Forward-Looking Statements” at the end of this presentation for further information.
27
28. Operational Excellence
2006 Key Product Launches
Product Lear Content
Americas Chevrolet Tahoe
GMT900 SUVs/Pickups Seats, doors
Hyundai Santa Fe Seats, TPMS
Nissan Versa Overhead systems, trim
Nissan Sentra Overhead systems, trim
DCX Caliber/Compass/Patriot Overhead systems, trim, doors, flooring, IP
International
Peugeot 207
VW Cabrio Seats
Peugeot 207 Seats
Hyundai EN (new SUV) Seats
Ford Galaxy Seats
Fiat Stilo Seats
Range Rover Seats, electronics
In Addition, Multiple Launches Throughout
Asia Represent A Significant Portion Of Our Backlog
28
30. Financial Update*
Received underwritten bank commitments for $800 million in
new secured term loans
Reached agreement in principle to contribute European
Interior business to Ross JV in return for a 34% stake in
European venture
Full year 2006 guidance being provided today
First quarter earnings conference call scheduled for April 26
Company Is Financially Sound And Operating Results
Are Expected To Improve This Year
* Please see slide titled “Forward-Looking Statements” at the end of this presentation for further information.
30
31. 2006 Guidance
Key Assumptions*
2006 Guidance 2006 vs. 2005
North America
15.7 mil down slightly
Industry
5.0 mil down about 5%
Lear's Top 15 Platforms
high level down from 2005 peak
Lear Launches
Europe
18.8 mil down slightly
Industry
9.3 mil down slightly
Lear's Top 5 Customers
moderate about the same
Lear Launches
$1.20 / Euro 4% weaker
Euro
* Please see slide titled “Forward-Looking Statements” at the end of this presentation for further information.
31
32. 2006 Guidance
Key Financial Projections*
2005 2006 Guidance
(in m illions)
$17,089 ≈$17,700
Net Sales
$325 $400 - 440
Core Operating Earnings
Incom e before interest, other expense,
incom e taxes, im pairm ents, restructuring
costs and other special item s
$183 $220 - 230
Interest Expense
$97 $120 - 160
Pretax Income
before im pairm ents, restructuring costs
and other special item s
$113 $80 - 100
Cash Taxes
$103 $120 - 150
Pretax Restructuring Costs
* Please see slides titled “Use of Non-GAAP Financial Information” and “Forward-Looking Statements”
at the end of this presentation for further information.
32
33. 2006 Guidance
Trend of Capital Spending*
(in millions)
$568
Capital Spending Impacts:
Capital Spending Impacts:
Record Launches
Record Launches
≈ $400
Lear Flexible Seating
Lear Flexible Seating
Architecture (LFSA)
Architecture (LFSA)
Low-Cost Country
Low-Cost Country
2005 2006 Guidance
Memo:
Depreciation
$410 to $420
and Amortization $ 393
Capital Spending Level Should
Trend Lower On An Ongoing Basis
* Please see slide titled “Forward-Looking Statements” at the end of this presentation for further information.
33
34. 2006 Guidance
Free Cash Flow Forecast*
(in millions)
$500
$50 - $100
$0
($419)**
-$500
2005 2006 Guidance
* Please see slides titled “Use of Non-GAAP Financial Information” and “Forward-Looking Statements”
at the end of this presentation for further information.
** Net cash provided by operating activities for 2005 was $561 million.
34
35. Summary*
New expected financing addresses 2007 maturities
Increased product-line focus to improve financials
Implementing global initiative to improve future
competitiveness
2006 results expected to improve
Longer-term outlook remains positive
* Please see slide titled “Forward-Looking Statements” at the end of this presentation for further information.
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36. R
ADVANCE RELENTLESSLY™
LEA
Listed
www.lear.com
NYSE
37. Use of Non-GAAP Financial Information
In addition to the results reported in accordance with accounting principles generally accepted in the United States (“GAAP”) included
throughout this presentation, the Company has provided information regarding certain non-GAAP financial measures. These measures
include “income before interest, other expense, income taxes, impairments, restructuring costs and other special items” (core operating
earnings), “pretax income before impairments, restructuring costs and other special items” and “free cash flow.” Free cash flow represents
net cash provided by operating activities before the net change in sold accounts receivable, less capital expenditures. The Company
believes it is appropriate to exclude the net change in sold accounts receivable in the calculation of free cash flow since the sale of
receivables may be viewed as a substitute for borrowing activity.
Management believes that the non-GAAP financial measures used in this presentation are useful to both management and investors in their
analysis of the Company’s financial position and results of operations. In particular, management believes that core operating earnings and
pretax income before impairments, restructuring costs and other special items are useful measures in assessing the Company’s financial
performance by excluding certain items that are not indicative of the Company’s core operating earnings or that may obscure trends useful
in evaluating the Company’s continuing operating activities. Management also believes that these measures are useful to both
management and investors in their analysis of the Company's results of operations and provide improved comparability between fiscal
periods. Management believes that free cash flow is useful to both management and investors in their analysis of the Company’s ability to
service and repay its debt. Further, management uses these non-GAAP financial measures for planning and forecasting in future periods.
Core operating earnings, pretax income before impairments, restructuring costs and other special items and free cash flow should not be
considered in isolation or as substitutes for net income (loss), pretax income (loss), cash provided by operating activities or other income
statement or cash flow statement data prepared in accordance with GAAP or as measures of profitability or liquidity. In addition, the
calculation of free cash flow does not reflect cash used to service debt and therefore, does not reflect funds available for investment or other
discretionary uses. Also, these non-GAAP financial measures, as determined and presented by the Company, may not be comparable to
related or similarly titled measures reported by other companies.
Set forth on the following slides are reconciliations of these non-GAAP financial measures for 2005 to the most directly comparable financial
measures calculated and presented in accordance with GAAP. Given the inherent uncertainty regarding special items and the net change
in sold accounts receivable in any future period, a reconciliation of forward- looking financial measures is not feasible. The magnitude of
these items, however, may be significant.
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38. Use of Non-GAAP Financial Information
Income before interest, other expense, income taxes,
impairments, restructuring costs and other special
items 2005
(in millions)
Loss before provision for income taxes $ (1,187.2)
Goodwill impairment charges 1,012.8
Interest expense 183.2
Other expense, net 96.6
Restructuring actions 106.3
Fixed asset impairment charges 82.3
Litigation charges 30.5
Income before interest, other expense, income taxes,
impairments, restructuring costs and other special items
(Core Operating Earnings) $ 324.5
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39. Use of Non-GAAP Financial Information
Pretax income before impairments, restructuring
costs and other special items 2005
(in millions)
Loss before provision for income taxes $ (1,187.2)
Goodwill impairment charges 1,012.8
Restructuring actions 102.8
Fixed asset impairment charges 82.3
Litigation charges 39.2
Sale and capital restructuring of joint ventures 46.7
Pretax income before impairments, restructuring costs and
other special items $ 96.6
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40. Use of Non-GAAP Financial Information
Free Cash Flow 2005
(in millions)
Net cash provided by operating activities $ 560.8
Net change in sold accounts receivable (411.1)
Net cash provided by operating activities
before net change in sold accounts receivable
$ 149.7
(cash from operations)
Capital expenditures (568.4)
$ (418.7)
Free cash flow
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41. Forward-Looking Statements
This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act
of 1995, including statements regarding anticipated financial results and liquidity. Actual results may differ materially from
anticipated results as a result of certain risks and uncertainties, including but not limited to, general economic conditions in
the markets in which the Company operates, including changes in interest rates, fluctuations in the production of vehicles
for which the Company is a supplier, labor disputes involving the Company or its significant customers or suppliers or that
otherwise affect the Company, the Company’s ability to achieve cost reductions that offset or exceed customer-mandated
selling price reductions, the outcome of customer productivity negotiations, the impact and timing of program launch costs,
the costs and timing of facility closures, business realignment or similar actions, increases in the Company’s warranty or
product liability costs, risks associated with conducting business in foreign countries, competitive conditions impacting the
Company’s key customers and suppliers, raw material costs and availability, the Company’s ability to mitigate the
significant impact of recent increases in raw material, energy and commodity costs, the outcome of legal or regulatory
proceedings to which the Company is or may become a party, unanticipated changes in cash flow, the finalization of the
Company’s restructuring strategy referred to herein and other risks described from time to time in the Company’s
Securities and Exchange Commission filings. In addition, the Company’s previously disclosed agreement in principle to
contribute its European Interiors business to a joint venture with WL Ross & Co. LLC and the Company’s previously
disclosed financing commitments for $800 million in term loans are subject to the negotiation and execution of definitive
agreements and other conditions. No assurances can be given that these proposed transactions will be completed on the
terms contemplated or at all.
The forward-looking statements in this presentation are made as of the date hereof, and the Company does not assume
any obligation to update, amend or clarify them to reflect events, new information or circumstances occurring after the
date hereof.
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