The document summarizes Liberty Global's first quarter 2008 investor call. It highlights that consolidated operating cash flow was $1.1 billion, a 14% rebased growth. Several small acquisitions were completed in the first quarter. Strong liquidity and continued stock buybacks were also noted, with over $900 million spent on buybacks year-to-date. Subscriber and revenue trends were provided for key operations.
This document provides an overview and summary of Liberty Global's 3rd Quarter 2008 Investor Call. It begins with introductory remarks noting the company's stable growth, diverse markets, and strategy remaining intact. The agenda outlines sections on operating updates, financial results, and Q&A. Key highlights include rebased growth rates of 6% for revenue and 13% for OCF year-to-date, record OCF margins in Q3, and growing penetration of advanced services driving ARPU and net adds across various markets. Financial results show continued OCF and free cash flow growth. The balance sheet maintains significant liquidity and leverage metrics trending lower. Limited near-term debt amaturities provide flexibility.
Presentación de Resultados Ferrovial 2011Ferrovial
Ferrovial reported its 2011 full year results. The document contained forward-looking statements that are based on estimates and assumptions, and are subject to risks and uncertainties. Analysts and investors are cautioned not to place undue reliance on forward-looking statements.
Ferrovial had a strong year of cash generation, debt reduction, and divestments. Key highlights included over €1.4 billion in cash flow excluding infrastructure projects, a net cash position of €907 million excluding projects, and value obtained from divestments exceeding market expectations. Business units reported revenue and EBITDA growth across most segments. Ferrovial is well positioned with a strong balance sheet and liquidity to invest in future growth opportunities
liberty global 98D59FD4-AEFE-4E07-94BE-1D6D7EDB882C_Q4_2008_Presentation_FINALfinance43
This document provides a summary of Liberty Global's fiscal 2008 investor call held on February 24, 2009. It discusses Liberty Global's 2008 financial highlights including strong organic growth, opportunistic M&A activity, and a stable balance sheet and liquidity. Key metrics such as operating cash flow growth, margin expansion, and free cash flow growth are reviewed. Liberty Global's 2009 operating outlook targets continued growth in operating cash flow, operating cash flow margin expansion, and at least 25% free cash flow growth. Regional performance and trends in revenue, operating cash flow, and margins are also summarized.
This document summarizes Comcast's 4th quarter and full year 2008 results. In 2008, Comcast met or exceeded its financial goals and made solid progress on strategic initiatives to enhance growth and competitiveness. For the 4th quarter, cable revenue grew 7% year-over-year to $8.3 billion, while cable operating cash flow decreased 14% to $0.9 billion due to higher programming and marketing costs. For the full year, revenue grew 8% to $34.3 billion and operating cash flow increased 8.5% to $13.1 billion. Comcast will focus on profitable growth, improving returns, and free cash flow generation in 2009.
federal mogul 9E16462A-2277-45CF-98D1-FD0F18782C97_Q408_Presentationfinance33
Federal-Mogul Corporation held a conference call on February 24, 2009 to discuss its financial results for Q4 and full year 2008. The company reported a net loss for the year driven by restructuring charges and impairment of intangible assets due to the economic downturn. However, operational EBITDA was stable and the company generated positive cash flow through aggressive cost reduction actions. Looking ahead, Federal-Mogul aims to strengthen its market position and pursue strategic acquisitions while continuing global restructuring efforts to adapt to challenging market conditions.
Northrop Grumman reported financial results for Q1 2008. Earnings per share were reduced by $0.61 due to a shipbuilding charge. The dividend was increased to $0.40 per share and the company repurchased $600 million in stock. Despite the charge, new business awards totaled over $12 billion and the company maintained confidence in achieving 2012 financial targets of $42 billion in sales, 10% operating margin, and $8 EPS.
Merrill lynch global metals and mining conference barcelona, 12 140509evraz_company
This corporate presentation by EVRAZ Group provides an overview of the company's strategic highlights and financial results for 2008. Key points include EVRAZ advancing its leadership in long steel products in Russia and CIS, expanding internationally in flat and tubular markets through acquisitions, and enhancing its cost leadership position. The presentation also discusses EVRAZ's liquidity and debt profile, extraordinary charges that impacted 2008 profits, geographic and product diversification efforts, and cost advantages from vertical integration. An update is given on operations in the company's Russian and Ukrainian steel segments.
Merrill Lynch Global Telco and Media Conference - Marco Patuano presentation ...Gruppo TIM
Telecom Italia provided an update on its performance in the first quarter of 2012. Total revenues for the Group increased 5.3% year-over-year to €7.39 billion due to growth in Brazil and Argentina, which offset declines in Italy. EBITDA was up slightly at €2.97 billion. The presentation focused on progress in the domestic Italian market, where revenues declined 2.4% and EBITDA declined 3.4% due to continued declines in fixed line revenues, and on the Group's UBB fiber broadband strategy.
This document provides an overview and summary of Liberty Global's 3rd Quarter 2008 Investor Call. It begins with introductory remarks noting the company's stable growth, diverse markets, and strategy remaining intact. The agenda outlines sections on operating updates, financial results, and Q&A. Key highlights include rebased growth rates of 6% for revenue and 13% for OCF year-to-date, record OCF margins in Q3, and growing penetration of advanced services driving ARPU and net adds across various markets. Financial results show continued OCF and free cash flow growth. The balance sheet maintains significant liquidity and leverage metrics trending lower. Limited near-term debt amaturities provide flexibility.
Presentación de Resultados Ferrovial 2011Ferrovial
Ferrovial reported its 2011 full year results. The document contained forward-looking statements that are based on estimates and assumptions, and are subject to risks and uncertainties. Analysts and investors are cautioned not to place undue reliance on forward-looking statements.
Ferrovial had a strong year of cash generation, debt reduction, and divestments. Key highlights included over €1.4 billion in cash flow excluding infrastructure projects, a net cash position of €907 million excluding projects, and value obtained from divestments exceeding market expectations. Business units reported revenue and EBITDA growth across most segments. Ferrovial is well positioned with a strong balance sheet and liquidity to invest in future growth opportunities
liberty global 98D59FD4-AEFE-4E07-94BE-1D6D7EDB882C_Q4_2008_Presentation_FINALfinance43
This document provides a summary of Liberty Global's fiscal 2008 investor call held on February 24, 2009. It discusses Liberty Global's 2008 financial highlights including strong organic growth, opportunistic M&A activity, and a stable balance sheet and liquidity. Key metrics such as operating cash flow growth, margin expansion, and free cash flow growth are reviewed. Liberty Global's 2009 operating outlook targets continued growth in operating cash flow, operating cash flow margin expansion, and at least 25% free cash flow growth. Regional performance and trends in revenue, operating cash flow, and margins are also summarized.
This document summarizes Comcast's 4th quarter and full year 2008 results. In 2008, Comcast met or exceeded its financial goals and made solid progress on strategic initiatives to enhance growth and competitiveness. For the 4th quarter, cable revenue grew 7% year-over-year to $8.3 billion, while cable operating cash flow decreased 14% to $0.9 billion due to higher programming and marketing costs. For the full year, revenue grew 8% to $34.3 billion and operating cash flow increased 8.5% to $13.1 billion. Comcast will focus on profitable growth, improving returns, and free cash flow generation in 2009.
federal mogul 9E16462A-2277-45CF-98D1-FD0F18782C97_Q408_Presentationfinance33
Federal-Mogul Corporation held a conference call on February 24, 2009 to discuss its financial results for Q4 and full year 2008. The company reported a net loss for the year driven by restructuring charges and impairment of intangible assets due to the economic downturn. However, operational EBITDA was stable and the company generated positive cash flow through aggressive cost reduction actions. Looking ahead, Federal-Mogul aims to strengthen its market position and pursue strategic acquisitions while continuing global restructuring efforts to adapt to challenging market conditions.
Northrop Grumman reported financial results for Q1 2008. Earnings per share were reduced by $0.61 due to a shipbuilding charge. The dividend was increased to $0.40 per share and the company repurchased $600 million in stock. Despite the charge, new business awards totaled over $12 billion and the company maintained confidence in achieving 2012 financial targets of $42 billion in sales, 10% operating margin, and $8 EPS.
Merrill lynch global metals and mining conference barcelona, 12 140509evraz_company
This corporate presentation by EVRAZ Group provides an overview of the company's strategic highlights and financial results for 2008. Key points include EVRAZ advancing its leadership in long steel products in Russia and CIS, expanding internationally in flat and tubular markets through acquisitions, and enhancing its cost leadership position. The presentation also discusses EVRAZ's liquidity and debt profile, extraordinary charges that impacted 2008 profits, geographic and product diversification efforts, and cost advantages from vertical integration. An update is given on operations in the company's Russian and Ukrainian steel segments.
Merrill Lynch Global Telco and Media Conference - Marco Patuano presentation ...Gruppo TIM
Telecom Italia provided an update on its performance in the first quarter of 2012. Total revenues for the Group increased 5.3% year-over-year to €7.39 billion due to growth in Brazil and Argentina, which offset declines in Italy. EBITDA was up slightly at €2.97 billion. The presentation focused on progress in the domestic Italian market, where revenues declined 2.4% and EBITDA declined 3.4% due to continued declines in fixed line revenues, and on the Group's UBB fiber broadband strategy.
ежегодная конференция Bcp securities для инвесторов москва, 100609evraz_company
Evraz Group is a leading global steel and mining company. In 2008, the company expanded its presence in international markets through acquisitions and organic growth. While revenue increased 58% due to strategic acquisitions and pricing trends, net profit declined 11% due to extraordinary charges. Looking ahead, Evraz aims to enhance its leadership position and cost advantage through further vertical integration and cost reduction initiatives.
- Operating revenue for Q3 FY 2007 was Rs. 298.62 crore, up 44% year-over-year and 24% quarter-over-quarter. Total revenue was Rs. 300.41 crore, up 42% year-over-year and 24% quarter-over-quarter.
- EBITDA for Q3 FY 2007 was Rs. 29.20 crore, up 142% year-over-year and 70% quarter-over-quarter. Profit before tax was Rs. 28.23 crore, up 114% year-over-year and 84% quarter-over-quarter. Profit after tax was Rs. 20.40 crore, up 69
Fortis reported a net profit of EUR 1.6 billion for the first half of 2008, up 3% from the second quarter but down 41% from the first half of 2007. The results were impacted by credit market turmoil, higher loan impairments, and lower capital gains. Fortis remains focused on executing its capital strengthening plan and integrating acquired ABN AMRO businesses to ensure financial flexibility in the challenging market environment.
Tempo reported strong financial results in 2Q08, with net revenue increasing 27% to R$169 million and EBITDA growing 87% to R$18.9 million. The health segment saw revenue growth of 37% and a 15.5% EBITDA margin. The dental segment, including recent acquisitions, grew revenue 202% with a 24.7% EBITDA margin. The assistance segment grew revenue 13% with an 11.7% EBITDA margin. Tempo continues to grow organically and through acquisitions while maintaining asset-light operations.
- Deutsche Telekom reported Q1 2012 results with group revenue of €14.4 billion, a 1.1% decline year-over-year, but an improved organic decline of 1.7%. Adjusted EBITDA was stable at €4.5 billion.
- In Germany, revenue declined 2.3% organically due to lower voice and wholesale revenues, but adjusted EBITDA margin improved further to 40.7% due to cost savings. Mobile data revenue grew 20% and smartphone sales were strong.
- In the US, revenues declined 2.3% in US dollars but adjusted EBITDA grew 8% to US$1.3 billion due to cost reductions, with the margin improving
The document summarizes Antonio Marti's presentation at the 10th Annual European & EMEA Telecommunications Conference in 2010. It discusses Telefonica Espana's 2009 results, highlighting a focus on cash flow generation and improving revenue trends in the second half of 2009. It also looks ahead, noting the impact of external factors and Telefonica's priorities. The results showed declining revenues but increased efficiency, with a focus on further developing data, IT, and new revenue sources.
This document provides an earnings report for Northrop Grumman Corporation for Q2 2008. It includes highlights from the CEO on sales growth, earnings per share, share repurchases, backlog, and new business awards. The COO highlights provide program updates, including milestones for the LHD-8 amphibious assault ship. Sales and operating margin rates are presented for each business segment for Q2 2008 and full year 2008 estimates. Cash flow details and the company's 2008 outlook are also summarized, along with definitions of non-GAAP financial measures used in the presentation.
Third Quarter 2007 results:
- Embraer delivered 47 jets in 3Q07 bringing total deliveries for the year to 108 jets.
- Net revenues increased to $1.4 billion in 3Q07, with a gross margin of 21.8%.
- Net income was $195 million in 3Q07, with a net margin of 13.6%.
- Backlog reached a record high of $17.2 billion at the end of 3Q07.
The document discusses Aegean Marine Petroleum Network Inc.'s Q4 2012 financial results and outlook. It highlights that sales volumes increased 6.2% in Q4 2012 compared to Q4 2011. While gross profit declined slightly year-over-year, EBITDA adjusted for asset sales increased 13.5% for the full year. The company has built-in capacity to further scale its business through a modern, largely double-hull fleet and growing marine lubricant business. Gross profit is driven by both sales volumes and gross spread per metric ton.
Primero corporate presentation june finalPrimeromine
The document discusses Primero Mining Corp.'s acquisition of the San Dimas gold-silver mine from Goldcorp Inc. for $489 million in 2010. It achieved strong production and financial results in subsequent quarters, with earnings from operations of $13.25 million in Q4 2010. Primero aims to further optimize operations and increase production at San Dimas through continued development, exploration and infrastructure investments over the next few years.
Charter Communications reported financial results for the second quarter of 2007 that showed double-digit revenue and adjusted EBITDA growth compared to the second quarter of 2006. Revenue grew 11% due to increases in high-speed internet, telephone, and commercial business, while adjusted EBITDA rose 11%. The company added 166,300 total RGUs in the quarter, up 47% year-over-year, driven by growth in digital video, high-speed internet, and telephone customers. Bundled customers grew 17.7% and now make up 42% of total customers.
1) Mike Waites, President and CEO of Finning International Inc., presented at the CIBC Whistler Institutional Investor Conference on January 19, 2012.
2) Finning is well positioned for growth as the exclusive Caterpillar dealer in resource-rich territories with unmatched product support capabilities.
3) Waites discussed Finning's strategic priorities to become CAT's best global partner, including operational excellence, sales and solutions growth, and safety. He also outlined expectations to meet financial commitments around revenue growth, improved operating leverage, and investing to maintain competitive advantage.
Cabo Drilling Corp is a drilling services company that provides drilling rigs and services to mining companies. It acquired five drilling companies between 2004-2005. The presentation provides an overview of Cabo's business including its revenues from 2008-2012, fleet size, international operations, financial position, and goals to improve profitability through cost controls and expanding capacity. Cabo aims to take advantage of strong demand in the mining industry and growing metals prices.
- Embraer announced strong commercial jet sales in the third quarter including 30 firm orders and options, and its order backlog reached a record high of $21.6 billion despite currency volatility negatively impacting earnings. However, the majority of Embraer's revenues are dollar-denominated, providing a natural hedge against currency fluctuations. Embraer also uses hedging instruments to further mitigate currency exposure, recognizing a $92.9 million loss this quarter from marking currency hedges to market.
- Gross sales were down 9% to CHF 626 million, a reduction of CHF 64 million, of which CHF 55 million was due to currency effects. After adjusting for currency and floorspace changes, sales were about the same as the previous year.
- Operating costs were kept at a low level of CHF 330 million. However, the sharp fall in the EUR value led to a CHF 36 million goodwill impairment in Germany and Austria.
- As a result, the net loss for the period was CHF 62 million, compared to a CHF 7 million loss in the previous corresponding period. Implementation of the company's 3-pillar strategy is taking longer than expected.
El Paso Corporation is an oil and gas exploration and production company. It has significant reserves of 2.8 trillion cubic feet of gas equivalent and a large inventory of unproved resources. It is focusing growth through investments in unconventional plays like the Haynesville Shale and through international developments in Brazil and Egypt. El Paso aims to deliver production growth of 8-12% per year through 2010 by developing its inventory of proved and unproved reserves.
This document provides financial and operating metrics for Ameriprise Financial for the third quarter of 2008 compared to prior periods. Some key highlights include:
- Net revenue declined 22% compared to the third quarter of 2007 and 17% sequentially.
- Adjusted return on equity was 8.1% compared to a target of 12-15%.
- Total client assets declined 15% from the prior year to $253 billion.
- Total advisor cash sales declined 28% from the prior year and 27% sequentially.
- Equity declined 13% from the prior year to $6.7 billion.
This annual report summarizes Ameriprise Financial's performance in 2006. Some key points:
- Revenues grew 11% to $8.1 billion and earnings grew 25% to $866 million.
- Total client assets grew 9% to $466 billion and life insurance in force grew 9% to $174 billion.
- The company continued to invest in its brand, advisor force, products, and technology to capitalize on serving the growing mass affluent and affluent market, especially retiring baby boomers who will need financial advice and solutions.
This document is Ameriprise Financial's annual report on Form 10-K, filed with the SEC. It summarizes Ameriprise's business operations for the fiscal year ended December 31, 2006. Ameriprise provides financial planning and products to help clients achieve their asset accumulation, income and protection needs through long-term relationships with over 12,000 affiliated financial advisors serving around 2.8 million clients. As a holding company, Ameriprise primarily conducts business through its subsidiaries. The Form 10-K includes details on Ameriprise's business segments, risk factors, legal proceedings, financial statements and other required disclosures.
The 1999 Nordstrom annual report discusses the company's transition to better position itself for future competition. While sales growth was achieved through new store openings, existing store sales did not grow as expected due to excess inventory levels. The company took steps to better align inventory levels with sales. It also streamlined its buying structure to improve accountability and gain leverage in the market. Going forward, Nordstrom aims to generate quality sales growth from both new and existing stores through various new initiatives focused on the customer experience.
The document contains a single name - "Dinisha". It does not provide any other context, details, or information about an individual, event, or topic named Dinisha. The limited content of only a single name makes it difficult to provide a more detailed or informative summary in 3 sentences or less.
This one sentence document provides the title of a song "Say Say Say" performed by Paul McCartney and Michael Jackson. It also lists the creator of the document and includes a link to their SlideShare profile.
ежегодная конференция Bcp securities для инвесторов москва, 100609evraz_company
Evraz Group is a leading global steel and mining company. In 2008, the company expanded its presence in international markets through acquisitions and organic growth. While revenue increased 58% due to strategic acquisitions and pricing trends, net profit declined 11% due to extraordinary charges. Looking ahead, Evraz aims to enhance its leadership position and cost advantage through further vertical integration and cost reduction initiatives.
- Operating revenue for Q3 FY 2007 was Rs. 298.62 crore, up 44% year-over-year and 24% quarter-over-quarter. Total revenue was Rs. 300.41 crore, up 42% year-over-year and 24% quarter-over-quarter.
- EBITDA for Q3 FY 2007 was Rs. 29.20 crore, up 142% year-over-year and 70% quarter-over-quarter. Profit before tax was Rs. 28.23 crore, up 114% year-over-year and 84% quarter-over-quarter. Profit after tax was Rs. 20.40 crore, up 69
Fortis reported a net profit of EUR 1.6 billion for the first half of 2008, up 3% from the second quarter but down 41% from the first half of 2007. The results were impacted by credit market turmoil, higher loan impairments, and lower capital gains. Fortis remains focused on executing its capital strengthening plan and integrating acquired ABN AMRO businesses to ensure financial flexibility in the challenging market environment.
Tempo reported strong financial results in 2Q08, with net revenue increasing 27% to R$169 million and EBITDA growing 87% to R$18.9 million. The health segment saw revenue growth of 37% and a 15.5% EBITDA margin. The dental segment, including recent acquisitions, grew revenue 202% with a 24.7% EBITDA margin. The assistance segment grew revenue 13% with an 11.7% EBITDA margin. Tempo continues to grow organically and through acquisitions while maintaining asset-light operations.
- Deutsche Telekom reported Q1 2012 results with group revenue of €14.4 billion, a 1.1% decline year-over-year, but an improved organic decline of 1.7%. Adjusted EBITDA was stable at €4.5 billion.
- In Germany, revenue declined 2.3% organically due to lower voice and wholesale revenues, but adjusted EBITDA margin improved further to 40.7% due to cost savings. Mobile data revenue grew 20% and smartphone sales were strong.
- In the US, revenues declined 2.3% in US dollars but adjusted EBITDA grew 8% to US$1.3 billion due to cost reductions, with the margin improving
The document summarizes Antonio Marti's presentation at the 10th Annual European & EMEA Telecommunications Conference in 2010. It discusses Telefonica Espana's 2009 results, highlighting a focus on cash flow generation and improving revenue trends in the second half of 2009. It also looks ahead, noting the impact of external factors and Telefonica's priorities. The results showed declining revenues but increased efficiency, with a focus on further developing data, IT, and new revenue sources.
This document provides an earnings report for Northrop Grumman Corporation for Q2 2008. It includes highlights from the CEO on sales growth, earnings per share, share repurchases, backlog, and new business awards. The COO highlights provide program updates, including milestones for the LHD-8 amphibious assault ship. Sales and operating margin rates are presented for each business segment for Q2 2008 and full year 2008 estimates. Cash flow details and the company's 2008 outlook are also summarized, along with definitions of non-GAAP financial measures used in the presentation.
Third Quarter 2007 results:
- Embraer delivered 47 jets in 3Q07 bringing total deliveries for the year to 108 jets.
- Net revenues increased to $1.4 billion in 3Q07, with a gross margin of 21.8%.
- Net income was $195 million in 3Q07, with a net margin of 13.6%.
- Backlog reached a record high of $17.2 billion at the end of 3Q07.
The document discusses Aegean Marine Petroleum Network Inc.'s Q4 2012 financial results and outlook. It highlights that sales volumes increased 6.2% in Q4 2012 compared to Q4 2011. While gross profit declined slightly year-over-year, EBITDA adjusted for asset sales increased 13.5% for the full year. The company has built-in capacity to further scale its business through a modern, largely double-hull fleet and growing marine lubricant business. Gross profit is driven by both sales volumes and gross spread per metric ton.
Primero corporate presentation june finalPrimeromine
The document discusses Primero Mining Corp.'s acquisition of the San Dimas gold-silver mine from Goldcorp Inc. for $489 million in 2010. It achieved strong production and financial results in subsequent quarters, with earnings from operations of $13.25 million in Q4 2010. Primero aims to further optimize operations and increase production at San Dimas through continued development, exploration and infrastructure investments over the next few years.
Charter Communications reported financial results for the second quarter of 2007 that showed double-digit revenue and adjusted EBITDA growth compared to the second quarter of 2006. Revenue grew 11% due to increases in high-speed internet, telephone, and commercial business, while adjusted EBITDA rose 11%. The company added 166,300 total RGUs in the quarter, up 47% year-over-year, driven by growth in digital video, high-speed internet, and telephone customers. Bundled customers grew 17.7% and now make up 42% of total customers.
1) Mike Waites, President and CEO of Finning International Inc., presented at the CIBC Whistler Institutional Investor Conference on January 19, 2012.
2) Finning is well positioned for growth as the exclusive Caterpillar dealer in resource-rich territories with unmatched product support capabilities.
3) Waites discussed Finning's strategic priorities to become CAT's best global partner, including operational excellence, sales and solutions growth, and safety. He also outlined expectations to meet financial commitments around revenue growth, improved operating leverage, and investing to maintain competitive advantage.
Cabo Drilling Corp is a drilling services company that provides drilling rigs and services to mining companies. It acquired five drilling companies between 2004-2005. The presentation provides an overview of Cabo's business including its revenues from 2008-2012, fleet size, international operations, financial position, and goals to improve profitability through cost controls and expanding capacity. Cabo aims to take advantage of strong demand in the mining industry and growing metals prices.
- Embraer announced strong commercial jet sales in the third quarter including 30 firm orders and options, and its order backlog reached a record high of $21.6 billion despite currency volatility negatively impacting earnings. However, the majority of Embraer's revenues are dollar-denominated, providing a natural hedge against currency fluctuations. Embraer also uses hedging instruments to further mitigate currency exposure, recognizing a $92.9 million loss this quarter from marking currency hedges to market.
- Gross sales were down 9% to CHF 626 million, a reduction of CHF 64 million, of which CHF 55 million was due to currency effects. After adjusting for currency and floorspace changes, sales were about the same as the previous year.
- Operating costs were kept at a low level of CHF 330 million. However, the sharp fall in the EUR value led to a CHF 36 million goodwill impairment in Germany and Austria.
- As a result, the net loss for the period was CHF 62 million, compared to a CHF 7 million loss in the previous corresponding period. Implementation of the company's 3-pillar strategy is taking longer than expected.
El Paso Corporation is an oil and gas exploration and production company. It has significant reserves of 2.8 trillion cubic feet of gas equivalent and a large inventory of unproved resources. It is focusing growth through investments in unconventional plays like the Haynesville Shale and through international developments in Brazil and Egypt. El Paso aims to deliver production growth of 8-12% per year through 2010 by developing its inventory of proved and unproved reserves.
This document provides financial and operating metrics for Ameriprise Financial for the third quarter of 2008 compared to prior periods. Some key highlights include:
- Net revenue declined 22% compared to the third quarter of 2007 and 17% sequentially.
- Adjusted return on equity was 8.1% compared to a target of 12-15%.
- Total client assets declined 15% from the prior year to $253 billion.
- Total advisor cash sales declined 28% from the prior year and 27% sequentially.
- Equity declined 13% from the prior year to $6.7 billion.
This annual report summarizes Ameriprise Financial's performance in 2006. Some key points:
- Revenues grew 11% to $8.1 billion and earnings grew 25% to $866 million.
- Total client assets grew 9% to $466 billion and life insurance in force grew 9% to $174 billion.
- The company continued to invest in its brand, advisor force, products, and technology to capitalize on serving the growing mass affluent and affluent market, especially retiring baby boomers who will need financial advice and solutions.
This document is Ameriprise Financial's annual report on Form 10-K, filed with the SEC. It summarizes Ameriprise's business operations for the fiscal year ended December 31, 2006. Ameriprise provides financial planning and products to help clients achieve their asset accumulation, income and protection needs through long-term relationships with over 12,000 affiliated financial advisors serving around 2.8 million clients. As a holding company, Ameriprise primarily conducts business through its subsidiaries. The Form 10-K includes details on Ameriprise's business segments, risk factors, legal proceedings, financial statements and other required disclosures.
The 1999 Nordstrom annual report discusses the company's transition to better position itself for future competition. While sales growth was achieved through new store openings, existing store sales did not grow as expected due to excess inventory levels. The company took steps to better align inventory levels with sales. It also streamlined its buying structure to improve accountability and gain leverage in the market. Going forward, Nordstrom aims to generate quality sales growth from both new and existing stores through various new initiatives focused on the customer experience.
The document contains a single name - "Dinisha". It does not provide any other context, details, or information about an individual, event, or topic named Dinisha. The limited content of only a single name makes it difficult to provide a more detailed or informative summary in 3 sentences or less.
This one sentence document provides the title of a song "Say Say Say" performed by Paul McCartney and Michael Jackson. It also lists the creator of the document and includes a link to their SlideShare profile.
The annual report summarizes Nordstrom's financial performance in 2002. Net sales increased 6.1% to $5.975 billion compared to 2001. Earnings before taxes decreased 4.3% to $195.6 million. Net earnings decreased 27.6% to $90.2 million and basic earnings per share decreased 28% to $0.67. Nordstrom made progress increasing sales and reducing expenses as a percentage of sales but recognizes there is still work to be done to reach its goals.
This document provides a summary of a fiscal 2007 investor call by a company:
- The company achieved its organic operating cash flow growth targets for 2007 and strong growth in the fourth quarter, excluding an acquisition. It also opportunistically acquired and consolidated another company.
- Subscriber and customer counts grew significantly year-over-year. Bundling of services also increased and drove higher average revenue per user.
- The company successfully managed its capital structure in 2007 through financing activities and stock repurchases, even during the credit crunch period.
Liberty Global reported strong financial results for fiscal year 2007. Organic operating cash flow growth was 16% excluding acquisitions. The company achieved robust subscriber growth, increased bundling of services, and improved operating cash flow margins. Liberty Global also increased its tax loss carryforwards, generated significant free cash flow, and maintained a strong liquidity and leverage position providing flexibility for strategic initiatives.
In this document:
1) The company reported strong growth in value added services such as digital cable and data in the second quarter of 2008.
2) Financial results for the first half of 2008 were stable with rebased revenue growth of 6% and rebased operating cash flow growth of 14%.
3) The company generated a record $318 million in free cash flow for the second quarter and continued repurchasing stock.
In this 2nd quarter 2008 investor call, the following key points were made:
1) The company reported strong growth in value added services such as digital cable and broadband internet. Digital cable additions reached a record of 336,000.
2) Financial results for the first half of the year were stable with rebased revenue growth of 6% and rebased operating cash flow growth of 14%. Operating cash flow margin improved.
3) Subscriber growth trends were positive with voice, data, and video additions in line with or exceeding prior year comparisons. Digital cable penetration continued increasing across markets.
4) International operations reported rebased revenue and operating cash flow growth rates between 5-29% for the first
This document provides an overview and agenda for Liberty Global's 3rd Quarter 2008 Investor Call. It begins with introductory remarks noting the company's stable growth, diverse markets, and intact strategy. The agenda outlines sections on operating updates, financial results, and Q&A. Under operating updates, it summarizes key metrics and trends for UPC Broadband, J:COM, VTR and other segments. The financial results section reviews revenue, operating cash flow, capital expenditures, balance sheet, debt amortization schedule and conclusions. It directs readers to an appendix for definitions of terms used.
liberty global 98D59FD4-AEFE-4E07-94BE-1D6D7EDB882C_Q4_2008_Presentation_FINALfinance43
This document provides an overview and summary of Liberty Global's fiscal 2008 investor call on February 24, 2009. The document discusses Liberty Global's strong organic growth in 2008, with over 1 million organic subscriber additions and 14% growth in operating cash flow. It also summarizes opportunistic M&A activity during the year and Liberty Global's stable balance sheet and liquidity position. The agenda outlines that the call will review 2008 highlights, financial results, and include a question and answer section.
1) The company reported strong first quarter 2008 results with revenue increasing 14% to $8.4 billion and operating cash flow growing 15% to $3.2 billion.
2) Cable revenue increased 10% to $7.9 billion driven by growth in high-speed internet and phone subscribers, while advertising revenue saw continued softness.
3) The company returned 142% of free cash flow to shareholders through $1 billion in stock repurchases and dividend payments, demonstrating its commitment to enhancing shareholder value.
CP's first quarter 2009 earnings review showed:
- Revenues were down 13% due to an 18.6% decline in carloads and 22.4% drop in revenue ton-miles from volume declines and negative mix changes.
- Operating expenses were managed well through cost control initiatives, offsetting some of the revenue declines and limiting the operating income decrease to 35%.
- The company is focused on further reducing structural costs through process improvements and efficiency gains to strengthen performance.
Chip McClure, Chairman and CEO of ArvinMeritor, addressed shareholders at their 2009 meeting. He noted that while the company met its financial targets for 2008, the economic outlook for 2009 is very uncertain with declining vehicle production expected. As a result, the company is withdrawing guidance and implementing cost cuts, including layoffs, salary reductions, and discretionary spending cuts. Key priorities for 2009 will be accelerating cost reductions, improving operations, executing the Light Vehicle Systems restructuring, growing high-margin businesses like aftermarket and military, and continuing technology investments.
Chip McClure, Chairman and CEO of ArvinMeritor, addressed shareholders at their 2009 meeting. He noted that while the company met its financial targets for 2008, the economic outlook for 2009 is very uncertain with declining vehicle production expected. As a result, the company is withdrawing guidance and implementing cost cuts, including layoffs, salary reductions, and discretionary spending cuts. ArvinMeritor will also separate its Light Vehicle Systems unit and focus on commercial vehicles, military, off-highway, and aftermarket segments. Key priorities for 2009 include accelerating cost reductions, operational improvements, executing the LVS strategy, growing high-margin businesses, and continuing technology investments.
Goodrich Corporation reported first quarter 2008 results with sales growth of 13% and segment operating income margin increasing from 14.9% to 17.3%. Net income per diluted share increased 59% to $1.24, including $0.03 from discontinued operations. For full-year 2008, Goodrich increased its sales outlook to $7.2-7.3 billion (13-14% growth) and net income per diluted share outlook to $4.30-$4.45 (14-18% growth). Key drivers included strong commercial aircraft production and aftermarket demand as well as positions on new defense platforms.
Goodrich Corporation reported first quarter 2008 results with sales growth of 13% and segment operating income margin increasing from 14.9% to 17.3%. Net income per diluted share increased 59% to $1.24, which includes $0.03 from discontinued operations. For full-year 2008, Goodrich increased its sales outlook to $7.2-7.3 billion (13-14% growth) and net income per diluted share outlook to $4.30-$4.45 (14-18% growth). Key drivers include strong demand for commercial aircraft and aftermarket services as well as defense programs.
cardinal health Conference Call Presentationfinance2
This document contains the key details from Cardinal Health's Q1 FY2009 investor call on October 29, 2008. It discusses Cardinal's financial results for Q1, including revenue of $24.3 billion (up 11% year-over-year) and operating earnings of $426 million (down 13% year-over-year). It also provides updates on Cardinal's Healthcare Supply Chain Services and Clinical and Medical Products segments. The document outlines Cardinal's financial goals for FY2009 and assumptions, and addresses questions from analysts on the call.
CSX reported first quarter earnings results. Surface transportation revenues increased 10% to $2.1 billion due to an 8.6% increase in revenue per car, driven by strong price increases and fuel surcharges partially offsetting rising fuel costs. Surface transportation operating income increased 72% to $351 million through a 2% reduction in operating expenses from productivity gains and management reductions, limiting expense growth. EPS from continuing operations increased 152% to $0.68 per share due to the significant increase in surface transportation operating income.
CSX reported first quarter earnings results. Surface transportation revenues increased 10% to $2.1 billion due to an 8.6% increase in revenue per car. Operating expenses increased only 2% through operations and management productivity. Surface transportation operating income increased 72% and drove a 152% increase in earnings per share. Looking forward, CSX expects tougher comparables but their foundation of strategies and financial improvements provide confidence.
CSX reported first quarter earnings results. Surface transportation revenues increased 10% to $2.1 billion due to an 8.6% increase in revenue per car, driven by strong price increases and fuel surcharges partially offsetting rising fuel costs. Surface transportation operating income increased 72% to $351 million through a 2% reduction in operating expenses from productivity gains and management reductions, limiting expense growth. EPS from continuing operations increased 152% to $0.68 per share due to the significant increase in surface transportation operating income.
CSX reported first quarter earnings results. Surface transportation revenues increased 10% to $2.1 billion due to an 8.6% increase in revenue per car. Operating expenses increased only 2% through operations and management productivity. Surface transportation operating income increased 72% and drove a 152% increase in earnings per share. Looking forward, CSX expects tougher comparables but their foundation of strategies and financial improvements provide confidence.
The document provides an overview of Deutsche Telekom's Q4 2011 results. Key highlights include:
- Revenue declined 3.7% year-over-year to €14.9 billion due to foreign exchange impacts. Adjusted EBITDA rose 1.3% to €4.6 billion.
- In Germany, revenue fell 6.1% but adjusted EBITDA margin improved 1.2 percentage points to 37.8% due to cost cutting.
- The company maintained its leading position in the German broadband and mobile service markets.
The document provides an overview of Banco Santander's financial performance for the first nine months of 2011. Some key points:
- Profits were down 13% compared to the same period last year, impacted by lower revenues from financial markets and higher provisions for loan losses in the current economic environment.
- However, the bank has maintained solid basic revenue generation driven by growth in Latin America, consumer finance, and the acquisition of BZ WBK.
- Liquidity and capital positions remain strong, with capital gains expected in Q4 that will be used to further strengthen the balance sheet.
- Expenses are being tightly controlled to offset pressure on revenues, though costs related to acquisitions
Apresentação de resultados 3 T 2011 Banco SantanderBANCO SANTANDER
The document provides an overview of Banco Santander's financial performance for the first nine months of 2011. Some key points:
- Profits were down 13% compared to the same period last year, impacted by lower revenues from financial markets and higher provisions for loan losses in the current economic environment.
- However, the bank has maintained solid basic revenue generation from net interest income, fees, and insurance. Revenues increased 6% overall compared to peers.
- While macroeconomic conditions worsened in the third quarter of 2011 due to factors like the sovereign debt crisis, Santander has a good liquidity and capital position with a solid balance sheet.
- Capital gains expected in the fourth quarter will
The 1999 Nordstrom annual report discusses the company's transition to better position itself for future success and increased competition. Key points include:
- Sales growth was driven by new full-line store openings and Rack store expansion. However, inventory levels had expanded faster than sales.
- The company realigned its buying structure to streamline decision making and gain leverage in the market.
- Initiatives are outlined to drive quality sales growth from existing stores through listening to customers and inspiring brand loyalty.
- The company is well positioned for future growth through new store opportunities and adapting to changing customer demands.
This annual report from Nordstrom provides an overview of the company's financial performance in 2000 and discusses some changes made that year based on customer feedback. It highlights that Nordstrom's greatest asset is its employees and salespeople. The report emphasizes focusing resources on supporting employees and giving them ownership over merchandise selection to best meet customer needs at the local level. It provides examples of top performing salespeople to illustrate Nordstrom's culture of customer service.
This annual report from Nordstrom provides an overview of the company's financial performance in 2000 and discusses some changes made that year based on customer feedback. It highlights that Nordstrom's greatest asset is its employees and salespeople. The report emphasizes focusing resources on supporting employees and giving them ownership over merchandise selection to best meet customer needs at the local level. It provides examples of top performing salespeople to illustrate Nordstrom's culture of customer service.
Nordstrom's 2001 Annual Report provides key financial highlights and performance metrics for the fiscal year. It discusses comparable store sales growth, total sales growth, earnings per share, and other metrics. The report also features interviews with Nordstrom employees discussing how the company is responding to challenges in retail by focusing on great products, customer service, and relationships. Employees discuss benefits of new initiatives like Perpetual Inventory and how Nordstrom transfers its core values to new markets. An operations executive also discusses bringing expenses under control by focusing on the customer experience and leveraging the company's size.
Nordstrom reported financial results for fiscal year 2001 with net sales increasing 1.9% to $5.6 billion and net earnings growing 22.3% to $124.7 million. Nordstrom saw comparable store sales growth and increased sales per square foot. The company focused on offering great styles, value, and customer service during challenging times for retail. Nordstrom implemented Perpetual Inventory to improve inventory management and the customer experience.
The annual report for 2002 provides financial highlights for the company including:
- Net sales increased 6.1% from 2001 to $5.975 billion.
- Earnings before income taxes decreased 4.3% to $195.6 million.
- Net earnings decreased 27.6% to $90.2 million.
Nordstrom reported strong financial results for fiscal year 2003, with net sales increasing 8.6% to $6.49 billion and net earnings increasing 169.2% to $242.8 million. The company saw improvements in key metrics like gross profit margin and inventory turnover. Nordstrom aims to further enhance the customer experience through new technologies like touchscreen registers and personal book software. The report discusses Nordstrom's focus on listening to customers, providing quality service, and investing in employees and tools to build long-term customer loyalty and competitive advantage.
Nordstrom reported strong financial results for fiscal year 2003, with net sales increasing 8.6% to $6.49 billion and net earnings increasing 169.2% to $242.8 million. The company saw improvements in key metrics like gross profit margin and inventory turnover. Nordstrom aims to further enhance the customer experience through new technologies like touchscreen registers and personal book software. The report discusses Nordstrom's focus on disciplined growth, delivering the right merchandise assortments to each store, and leveraging technology improvements to better serve customers and drive profitable growth.
The document lists various job roles within the fashion retail business, including designers, salespeople, managers, and support staff. It then provides financial highlights and key metrics for Nordstrom, Inc. for the year 2004, including total revenue, net earnings, earnings per share, and total number of employees. The roles listed help illustrate the wide range of positions involved in operating a large retail fashion business.
The document lists various job roles within the fashion retail business of Nordstrom, Inc. It includes designers, salespeople, managers, servers, and other operational roles across the company. The roles support functions like design, sales, store operations, visual merchandising, and supply chain management.
This document is Nordstrom's annual report on Form 10-K filed with the SEC, summarizing its business operations for the fiscal year ended January 31, 2009. It discusses Nordstrom's segments including retail stores, direct, credit, and other. It provides an overview of Nordstrom's operations, including its store count, real estate strategy, brands, suppliers, seasonality, inventory management, and competitive environment. The report also addresses risks to Nordstrom's business from economic conditions, consumer spending, competition, and other factors.
This document is Nordstrom's annual report on Form 10-K for the fiscal year ending January 31, 2009. It provides information on Nordstrom's business operations and financial results. Specifically, [1] it describes Nordstrom's retail operations including its full-line department stores, Nordstrom Rack off-price stores, and clearance stores; [2] it notes that Nordstrom operates 171 stores across 28 U.S. states as of March 2009; and [3] it divides Nordstrom's business into four segments: Retail Stores, Direct, Credit, and Other. The filing also includes details on store openings, financial and operating results, risk factors, properties, legal proceedings, and other disclosures required in an annual
- Nordstrom reported strong financial results for fiscal year 2005 with total sales increasing 8.3% to $7.7 billion and same-store sales growth of 6%. Net earnings increased 40.1% to $551 million compared to 2004.
- The company aims to continue its growth in 2006 by focusing on maximizing sales in women's apparel, providing a seamless shopping experience across channels, and expanding into new markets like Boston.
- Nordstrom's strategies for continuous improvement include testing new store concepts, enhancing its online presence, leveraging technology investments, and refining inventory management tools.
Nordstrom reported strong financial results for fiscal year 2006. Total sales increased 10.8% to a record $8.6 billion and net earnings increased 23% to $678 million. Other highlights included gross profit and earnings before taxes reaching record high percentages of net sales. Nordstrom also announced a $2.8 billion capital plan to fund new stores, remodels, and other customer-facing initiatives to drive further growth. The company is well positioned for future growth given its focus on serving customers through both stores and online channels.
Nordstrom reported strong financial results for fiscal year 2006. Total sales increased 10.8% to a record $8.6 billion, with earnings before taxes exceeding $1 billion for the first time. The gross profit rate was 37.5% and expenses as a percentage of sales improved for the sixth consecutive year. Nordstrom also announced a $2.8 billion capital investment plan focused on new stores, remodels, and technology improvements to enhance the customer experience across channels. The Chairman expressed optimism for Nordstrom's future given its focus on serving customers and executing narrow initiatives through the lens of its values.
The document is Nordstrom's annual report (Form 10-K) filed with the SEC for the fiscal year ended February 2, 2008. It provides an overview of Nordstrom's business segments and operations, discusses competitive conditions and risks. Key points include:
- Nordstrom has four business segments: Retail Stores, Direct, Credit, and Other. Retail Stores and Direct are the main segments.
- In 2007, Nordstrom opened new stores and remodeled existing stores. It also sold its Façonnable boutiques.
- Nordstrom faces competition from other retailers and risks including its ability to respond to fashion trends, effective inventory management, and economic conditions.
The document is Nordstrom's annual report (Form 10-K) filed with the SEC for the fiscal year ended February 2, 2008. It provides an overview of Nordstrom's business segments and operations, discusses competitive conditions and risks. Key points include:
- Nordstrom has four business segments: Retail Stores, Direct, Credit, and Other. Retail Stores and Direct are the main segments.
- In 2007, Nordstrom opened new stores and remodeled existing stores. It also sold its Façonnable boutiques.
- Nordstrom faces competition from other retailers and risks including its ability to respond to fashion trends, effective inventory management, and economic conditions.
This document is Nordstrom's annual report on Form 10-K filed with the SEC, summarizing its business operations for the fiscal year ended January 31, 2009. It discusses Nordstrom's segments including Retail Stores, Direct, Credit, and Other. It provides an overview of Nordstrom's operations including its store count, real estate strategy, and sales by segment. It also outlines the company's trademarks, return policy, seasonality, inventory management, competition, employees, and risk factors associated with its business.
This document is Nordstrom's annual report on Form 10-K filed with the SEC, summarizing its business operations for the fiscal year ended January 31, 2009. It discusses Nordstrom's segments including Retail Stores, Direct, Credit, and Other. It provides an overview of Nordstrom's operations including its store count, real estate strategy, and sales by segment. It also outlines the company's trademarks, return policy, seasonality, inventory management, competition, employees, and regulatory filings. Key risks to Nordstrom's business from economic conditions, consumer spending patterns, competitive pricing, and effective execution of its strategies are also summarized.
sonic automotive SAHStephens20June20Conference20Presentationfinance43
This document contains forward-looking statements by a company and its management regarding future performance. These statements are predictions and not guarantees. Readers are cautioned that actual results may differ from projected results due to various risks and uncertainties. Historical financial data is also presented regarding the company's revenues, profits, expenses, capitalization, and same-store sales growth. The company's strategic plans to improve performance through initiatives regarding used vehicles, parts and service, marketing, associate training, and financial management are summarized.
5 Tips for Creating Standard Financial ReportsEasyReports
Well-crafted financial reports serve as vital tools for decision-making and transparency within an organization. By following the undermentioned tips, you can create standardized financial reports that effectively communicate your company's financial health and performance to stakeholders.
In a tight labour market, job-seekers gain bargaining power and leverage it into greater job quality—at least, that’s the conventional wisdom.
Michael, LMIC Economist, presented findings that reveal a weakened relationship between labour market tightness and job quality indicators following the pandemic. Labour market tightness coincided with growth in real wages for only a portion of workers: those in low-wage jobs requiring little education. Several factors—including labour market composition, worker and employer behaviour, and labour market practices—have contributed to the absence of worker benefits. These will be investigated further in future work.
Fabular Frames and the Four Ratio ProblemMajid Iqbal
Digital, interactive art showing the struggle of a society in providing for its present population while also saving planetary resources for future generations. Spread across several frames, the art is actually the rendering of real and speculative data. The stereographic projections change shape in response to prompts and provocations. Visitors interact with the model through speculative statements about how to increase savings across communities, regions, ecosystems and environments. Their fabulations combined with random noise, i.e. factors beyond control, have a dramatic effect on the societal transition. Things get better. Things get worse. The aim is to give visitors a new grasp and feel of the ongoing struggles in democracies around the world.
Stunning art in the small multiples format brings out the spatiotemporal nature of societal transitions, against backdrop issues such as energy, housing, waste, farmland and forest. In each frame we see hopeful and frightful interplays between spending and saving. Problems emerge when one of the two parts of the existential anaglyph rapidly shrinks like Arctic ice, as factors cross thresholds. Ecological wealth and intergenerational equity areFour at stake. Not enough spending could mean economic stress, social unrest and political conflict. Not enough saving and there will be climate breakdown and ‘bankruptcy’. So where does speculative design start and the gambling and betting end? Behind each fabular frame is a four ratio problem. Each ratio reflects the level of sacrifice and self-restraint a society is willing to accept, against promises of prosperity and freedom. Some values seem to stabilise a frame while others cause collapse. Get the ratios right and we can have it all. Get them wrong and things get more desperate.
"Does Foreign Direct Investment Negatively Affect Preservation of Culture in the Global South? Case Studies in Thailand and Cambodia."
Do elements of globalization, such as Foreign Direct Investment (FDI), negatively affect the ability of countries in the Global South to preserve their culture? This research aims to answer this question by employing a cross-sectional comparative case study analysis utilizing methods of difference. Thailand and Cambodia are compared as they are in the same region and have a similar culture. The metric of difference between Thailand and Cambodia is their ability to preserve their culture. This ability is operationalized by their respective attitudes towards FDI; Thailand imposes stringent regulations and limitations on FDI while Cambodia does not hesitate to accept most FDI and imposes fewer limitations. The evidence from this study suggests that FDI from globally influential countries with high gross domestic products (GDPs) (e.g. China, U.S.) challenges the ability of countries with lower GDPs (e.g. Cambodia) to protect their culture. Furthermore, the ability, or lack thereof, of the receiving countries to protect their culture is amplified by the existence and implementation of restrictive FDI policies imposed by their governments.
My study abroad in Bali, Indonesia, inspired this research topic as I noticed how globalization is changing the culture of its people. I learned their language and way of life which helped me understand the beauty and importance of cultural preservation. I believe we could all benefit from learning new perspectives as they could help us ideate solutions to contemporary issues and empathize with others.
Abhay Bhutada, the Managing Director of Poonawalla Fincorp Limited, is an accomplished leader with over 15 years of experience in commercial and retail lending. A Qualified Chartered Accountant, he has been pivotal in leveraging technology to enhance financial services. Starting his career at Bank of India, he later founded TAB Capital Limited and co-founded Poonawalla Finance Private Limited, emphasizing digital lending. Under his leadership, Poonawalla Fincorp achieved a 'AAA' credit rating, integrating acquisitions and emphasizing corporate governance. Actively involved in industry forums and CSR initiatives, Abhay has been recognized with awards like "Young Entrepreneur of India 2017" and "40 under 40 Most Influential Leader for 2020-21." Personally, he values mindfulness, enjoys gardening, yoga, and sees every day as an opportunity for growth and improvement.
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
A toxic combination of 15 years of low growth, and four decades of high inequality, has left Britain poorer and falling behind its peers. Productivity growth is weak and public investment is low, while wages today are no higher than they were before the financial crisis. Britain needs a new economic strategy to lift itself out of stagnation.
Scotland is in many ways a microcosm of this challenge. It has become a hub for creative industries, is home to several world-class universities and a thriving community of businesses – strengths that need to be harness and leveraged. But it also has high levels of deprivation, with homelessness reaching a record high and nearly half a million people living in very deep poverty last year. Scotland won’t be truly thriving unless it finds ways to ensure that all its inhabitants benefit from growth and investment. This is the central challenge facing policy makers both in Holyrood and Westminster.
What should a new national economic strategy for Scotland include? What would the pursuit of stronger economic growth mean for local, national and UK-wide policy makers? How will economic change affect the jobs we do, the places we live and the businesses we work for? And what are the prospects for cities like Glasgow, and nations like Scotland, in rising to these challenges?
STREETONOMICS: Exploring the Uncharted Territories of Informal Markets throug...sameer shah
Delve into the world of STREETONOMICS, where a team of 7 enthusiasts embarks on a journey to understand unorganized markets. By engaging with a coffee street vendor and crafting questionnaires, this project uncovers valuable insights into consumer behavior and market dynamics in informal settings."
Optimizing Net Interest Margin (NIM) in the Financial Sector (With Examples).pdfshruti1menon2
NIM is calculated as the difference between interest income earned and interest expenses paid, divided by interest-earning assets.
Importance: NIM serves as a critical measure of a financial institution's profitability and operational efficiency. It reflects how effectively the institution is utilizing its interest-earning assets to generate income while managing interest costs.
2. “Safe Harbor”
Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995:
Forward-Looking Statements: The following slides contain forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995, including our expectations with respect to our future growth prospects, the timing
and impact of our roll-out of digital products and services, and our borrowing availability; our insight and expectations
p g p , g y; g p
regarding competition in our markets; the impact of our M&A activity on our operations and financial performance; our
expectations concerning future repurchases of our stock; and other information and statements that are not historical fact.
These forward-looking statements involve certain risks and uncertainties that could cause actual results to differ materially
from those expressed or implied by these statements. These risks and uncertainties include the continued use by subscribers
and potential subscribers of the Company's services and willingness to upgrade to our more advanced offerings, our ability to
meet competitive challenges continued growth in services for digital television at a reasonable cost and the positive impact of
challenges,
such growth on our European video ARPU, the effects of changes in technology and regulation, our ability to achieve expected
operational efficiencies and economies of scale, and our ability to generate expected revenue and operating cash flow, control
capital expenditures as measured by percentage of revenue and achieve assumed margins, as well as other factors detailed
from time to time in the Company's filings with the Securities and Exchange Commission (“SEC”) including our most recently
filed Form 10-K and Form 10-Q. These forward-looking statements speak only as of the date of this presentation. The
Company expressly disclaims any obligation or undertaking to disseminate any updates or revisions to any forward-looking
statement contained herein to reflect any change in the Company's expectations with regard thereto or any change in events,
conditions or circumstances on which any such statement is based.
Additional Information Relating to Defined Terms:
Please refer to the Appendix at the end of this presentation, as well as the Company’s Press Release dated May 7, 2008 and
SEC fili
filings, f d fi iti
for definitions of th f ll i t
f the following terms which may b used h i i l di
hi h be d herein including: O
Operating C h Fl
ti Cash Flow (“OCF”) F
(“OCF”), Free C h
Cash
Flow (“FCF”), Unlevered FCF, Revenue Generating Units (“RGUs”), Average Revenue per Unit (“ARPU”), and OCF Margin, as
well as GAAP reconciliations.
2
4. Q1 2008 Highlights
Consolidated OCF(1) of $1.1 billion Organic
Growth
Rebased OCF growth of 14%
Achieved record 42% OCF margin Capital
M&A
Structure
Few actionable M&A opportunities
Completed several small acquisitions in Q1 (JP & CZ)
Exploring opportunities in emerging markets
St o g qu d ty continued stock buybacks
Strong liquidity & co t ued stoc buybac s
Purchased over $900 mm YTD; ~$650 mm remaining on program
Ample undrawn capacity available to maintain leverage
(1) Please see Appendix for information on rebased growth, the definition of OCF and OCF margin and the reconciliation of OCF. 4
5. Q1 Highlights
Q1 2008 Q1 2007
Total RGUs (000s) 24,383 22,811
Total Customers (000s) 16,123
16 123 15,942
15 942
Organic RGU Adds 301,600 357,000
Revenue ($mm) $2,611 $2,106
(1)
OCF ($mm) $1,101 $825
(1)
OCF Margin % 42.2% 39.2%
(1) Please see Appendix for definition of OCF and OCF Margin, as well as our OCF reconciliation.
5
6. Rebased Revenue Growth (1)
Most operations at or above FY guidance range
14%
10%
9%
7-9% guidance range
7%
6%
3%
Austar VTR Telenet J:COM Total LGI UPC
(1) Please see Appendix for information on rebased growth. 6
7. Subscriber Growth Trends
Net Additi
N t Additions (000’ )
(000’s)
Total RGUs Video
4 6
438
385
357
302
Average
266
(34)
(54)
(57)
Q1 '07 Q2 '07 Q3 '07 Q4 '07 Q1 '08 Q1 '07 Q2 '07 Q3 '07 Q4 '07 Q1 '08
Voice Data
217 219 214
191 190 182
177
Average
172
161 159
Q1 '07 Q2 '07 Q3 '07 Q4 '07 Q1 '08 Q1 '07 Q2 '07 Q3 '07 Q4 '07 Q1 '08
7
8. Key Performance Factors
Operating Update
Performance Factor
Up 10% over Q1 ’07
Penetration of advanced
services (digital, voice & Higher revenue and gross margin products
data) is ramping Driving customer ARPUs up ~6%
Net adds up 47% over Q1 ’07
07
Digital video is launched Digital cable penetration 27% and growing
and making a difference
Digital video ARPU uplift of 25% - 50%
_ Broadband competition and voice usage
Voice & data ARPUs
Aggressive bundling to drive market share
(especially in Europe)
remain under pressure Accelerating DOCSIS 3.0 speed upgrades
_ Primarily three markets (NL, AT, CZ)
Higher churn in low-end Digital and retention strategies taking hold
video sub base in Europe
Romania back to positive RGU growth
8
9. UPC Broadband Update
Operational Highlights Organic VAS Growth(1) (000s)
432
Growth across all advanced services Average = 306
g
319
Digital becoming 2008 growth engine
304
285
Organic voice adds up 14% from new bundles 188
“Mega” broadband will extend speed advantage
Q1 '07 Q2 '07 Q3 '07 Q4 '07 Q1 '08
Strong OCF growth & margin expansion
OCF Growth(2) ($mm)
Not sacrificing spend on sales & marketing
$514
UPC sales 84,000 ahead of Q1 last year
$389
Competition continuing as expected
32%
ARPU compression & analog losses
Special situations in RO, HU, & AT
Q '07 Q '08
Q1 Q1
13% Rebased Growth
(1) VAS is defined as value-added services which includes digital cable and DTH,
broadband internet and telephony.
(2) Please see Appendix for the OCF definition and reconciliation and for information on
9
rebased growth.
10. Digital Cable Update
European Highlights Digital Cable RGUs (000s)
Digital deployed across all markets in Q2
g py Q 1,380
1,255
Digital revenue growth at UPC over 35% 1,108
1,020
969
Digital penetration of 16% vs. 11% last year
Q1 '07 Q2 '07 Q3 '07 Q4 '07 Q1 '08
Advanced features deployed in 7 countries
NL Digital ARPU(1)
Netherlands Spotlight
€10
Advanced services gaining traction €8
€4
NL digital penetration now 27%
25%
Successfully reducing churn
Q4 '06 Q4 '07 Q1 '08
Momentum bu d g around HD
o e tu building a ou d
Up 150% since Q4 ’06
(1) Represents incremental digital ARPU, above €16.37 analog rate.
10
11. VTR Update
Organic VAS Growth (000s)
Operational Themes & Results
85
Further penetrating value added services
p g 68 68
69
Digital penetration > 25%
49 Avg = 68
All new triple play sales are digital
Focus on 2P bundles (Data & Voice)
Q1 '07 Q2 '07 Q3 '07 Q4 '07 Q1 '08
Reached 1 mm customers at end of Q1 ’08
OCF(1) ($mm)
56% of customer base is bundled
$76
Competition increasing in Southern Region $55
Q1 OCF financial performance was strong 39%
OCF margin > 40%
>70% OCF conversion ratio(2)
Q1 '07 Q1 '08
Focus on SG&A & FTE cost controls
19% Rebased Growth
(1) Please see Appendix for information on rebased growth and for the definition and reconciliation of OCF.
(2) Represents the variance between reported Q1 2008 OCF and rebased Q1 2007 OCF divided by the variance
for reported Q1 2008 revenue and rebased Q1 2007 revenue.
11
12. J:COM Update
Organic VAS Growth (000s)
Operational Themes & Results
Organic adds were up 7% over Q1 ’07
07 187
185 174 144
Digital penetration now stands at 70% 137
Avg = 165
Launched 160 Mbps nationwide
Gross adds stronger in 160 Mbps areas Q1 '07 Q2 '07 Q3 '07 Q4 '07 Q1 '08
Reviewing data tiering strategy
OCF(1) ($mm)
Competitive FTTH growth slowing
$284
Completed 2 M&A deals (Kyoto & Kobe) $218
Consistent OCF growth with margin of ~42%
g g 30%
Realizing cost savings from JTV
More effective sales channels
Q1 '07 Q1 '08
J:COM announced dividend (this summer)
dd d d(h )
11% Rebased Growth
12
(1) Please see Appendix for information on rebased growth and for the definition and reconciliation of OCF.
14. Financial Highlights
(US$ in Millions)
(1)
Revenue OCF
$1,101
$2,611
$2,106
$825
24% 34%
Q1 '07 Q1 '08 Q1 '07 Q1 '08
Rebased Growth of 6% Rebased Growth of 14%
(1) Please see Appendix for the definition and reconciliation of OCF and for information on rebased growth.
14
15. Financial Breakdown
(In US$ Millions)
Operating Cash Flow(1)
Revenue
Q1 Rebased Q1 Rebased
Growth(2) Growth(2)
2008 2008
Western Europe
p $ 782 3% $ 404 12%
C & E Europe 335 4% 170 9%
Other(3) 3 -- (60) --
UPC Broadband 1,119
, 3% 514 13%
Telenet (Belgium) 374 9% 175 12%
J:COM (Japan) 679 7% 284 11%
VTR (Chile) 187 10% 76 19%
Other 252 -- 53 --
Total LGI $ 2,611 6% $ 1,101 14%
(1) Please see Appendix for a definition and reconciliation of OCF.
(2) Please see Appendix for information on rebased growth.
(3) Represents central and corporate operations of UPC Broadband. 15
16. OCF Margin & Conversion
OCF Margin(1) OCF Conversion(2)
42.2% 89%
54%
39.2%
300
bps
Q1 '07 Q1 '08 Q1 '07 Q1 '08
OCF margin and conversion continue to improve
(1) Please see Appendix for definition of OCF Margin.
(2) For Q1 2008, represents the variance between reported Q1 2008 OCF and rebased Q1 2007 OCF divided by the variance for reported Q1 2008
revenue and rebased Q1 2007 revenue. For Q1 2007, represents the variance between reported Q1 2007 OCF and rebased Q1 2006 OCF divided by
16
the variance for reported Q1 2007 revenue and rebased Q1 2006 revenue.
17. Free Cash Flow & CapEx
CapEx (% of Rev)
Free Cash Flow(1)
(In US$ Millions)
$128
24%
20%
$58
122%
Q1 '07 Q1 '08 Q1 '07 Q1 '08
Higher cash from operations $520 mm of CapEx in Q1 ’08
FCF positively impacted by FX 45% CPE-related
Large outflows associated with CapEx down year-over-year,
cash interest & taxes in quarter after neutralizing FX
(1) Please see Appendix for a definition and reconciliation of FCF.
17
18. Balance Sheet Snapshot
For periods ended
Dec. 31, 2007 Mar. 31, 2008
(US$ in Millions)
Total Debt $ 18,353 $ 19,524
T t l Cash(1)
Total C h (2,520)
( ) (1,854)
( )
Net Debt $ 15,833 $ 17,671
Leverage(2)
Gross L
G 4.8x
48 4.4x
44
Net Leverage(2) 4.1x 4.0x
Leverage ratios have decreased from Q4
(1) Cash includes restricted cash related to our debt instruments of approximately $485 million at December 31, 2007 and at March 31, 2008.
(2) Gross and Net Leverage equals total and net debt, respectively, divided by annualized OCF for the three months ended as of the date indicated.
18
19. Conclusions
OCF growth & margin expansion ahead of plan
Positive subscriber trends in advanced services
Competitive challenges being addressed
Ample liquidity for stock buybacks and future M&A
19
21. Appendix
Definitions and Additional Information
Revenue Generating Unit (“RGU”) is separately an Analog Cable Subscriber, Digital Cable Subscriber, DTH Subscriber, MMDS Subscriber, Internet Subscriber or
Telephone Subscriber. A home may contain one or more RGUs. For example, if a residential customer in our Austrian system subscribed to our digital cable service,
telephone service and broadband Internet service, the customer would constitute three RGUs. Total RGUs is the sum of Analog Cable, Digital Cable, DTH, MMDS,
Internet and Telephone Subscribers. In some cases, non-paying subscribers are counted as subscribers during their free promotional service period. Some of these
subscribers choose to disconnect after their free service period. Please refer to our May 7, 2008 press release for additional subscriber definitions.
Average Revenue Per Unit (“ARPU”) refers to the average monthly subscription revenue per average RGU. ARPU per customer relationship refers to the average
monthly subscription revenue per average customer relationship. In both cases, the amounts are calculated by dividing the average monthly subscription revenue
(excluding installation and mobile telephony revenue) for the indicated period, by the average of the opening and closing balances for RGUs or customer
relationships, as the case may be, for the period. RGUs and customer relationships of entities acquired during the period are normalized.
OCF margin is calculated by dividing OCF by total revenue for the applicable period.
Information on Rebased Growth: For purposes of calculating rebased growth rates on a comparable basis for all businesses that we owned during 2008, we
have adjusted our historical revenue and OCF for the three months ended March 31, 2007, respectively to (i) include the pre-acquisition revenue and OCF of certain
entities acquired during 2007 and 2008 in our rebased amounts for the three months ended March 31, 2007 to the same extent that the revenue and OCF of such
entities are included in our results for the three months ended March 31, 2008, (ii) exclude the pre-disposition revenue and OCF of certain entities that were
disposed of during 2007 and 2008 from our rebased amounts for the three months ended March 31 2007 to the same extent that such entities were excluded from
31,
our results for the three months ended March 31, 2008, and (iii) reflect the translation of our rebased amounts for the three months ended March 31, 2007 at the
applicable average exchange rates that were used to translate our results for the three months ended March 31, 2008. The acquired entities that have been included
in whole or in part in the determination of our rebased revenue and OCF for the three months ended March 31, 2007 include JTV Thematics, Telesystems Tirol, ten
small acquisitions in Europe and three small acquisitions in Japan. Additionally, the disposed entities that were excluded in whole or in part from the determination of
our rebased revenue and OCF for the three months ended March 31, 2007 include our broadband communications operations in Brazil and Peru and our Liveshop
operations in the Netherlands. In terms of acquired entities, we have reflected the revenue and OCF of these acquired entities in our 2007 rebased amounts based
on what we believe to be the most reliable information that is currently available to us (generally pre-acquisition financial statements) as adjusted for the estimated
statements),
effects of (i) any significant differences between U.S. generally accepted accounting principles (“GAAP”) and local generally accepted accounting principles, (ii) any
significant effects of post-acquisition purchase accounting adjustments, (iii) any significant differences between our accounting policies and those of the acquired
entities and (iv) other items we deem appropriate. As we did not own or operate the acquired businesses during the pre-acquisition periods, no assurance can be
given that we have identified all adjustments necessary to present the revenue and OCF of these entities on a basis that is comparable to the corresponding post-
acquisition amounts that are included in our historical 2008 results or that the pre-acquisition financial statements we have relied upon do not contain undetected
errors. The adjustments reflected in our 2007 rebased amounts have not been prepared with a view towards complying with Article 11 of the SEC's Regulation S-X.
In addition the rebased growth percentages are not necessarily indicative of the revenue and OCF that would have occurred if these transactions had occurred on
addition,
the dates assumed for purposes of calculating our rebased 2007 amounts or the revenue and OCF that will occur in the future. The rebased growth percentages
have been presented as a basis for assessing 2008 growth rates on a comparable basis, and are not presented as a measure of our pro forma financial performance
for 2007. Therefore, we believe our rebased data is not a non-GAAP measure as contemplated by Regulation G or Item 10 of Regulation S-K.
21
22. Appendix
Operating Cash Flow Definition and Reconciliation
Operating cash flow is not a GAAP measure. Operating cash flow is the primary measure used by our chief operating decision maker to evaluate segment operating
performance and to decide how to allocate resources to segments. As we use the term, operating cash flow is defined as revenue less operating and SG&A
expenses (excluding stock-based compensation, depreciation and amortization, provisions for litigation, and impairment, restructuring and other operating charges
or credits). We believe operating cash flow is meaningful because it provides investors a means to evaluate the operating performance of our segments and our
company on an ongoing basis using criteria that is used by our internal decision makers. Our internal decision makers believe operating cash flow is a meaningful
measure and is superior to other available GAAP measures because it represents a transparent view of our recurring operating performance and allows
management to (i) readily view operating trends, (ii) perform analytical comparisons and benchmarking between segments and (iii) identify strategies to improve
operating performance in the different countries in which we operate. For example, our internal decision makers believe that the inclusion of impairment and
restructuring charges within operating cash flow would distort the ability to efficiently assess and view the core operating trends in our segments. In addition, our
internal decision makers believe our measure of operating cash flow is important because analysts and investors use it to compare our performance to other
companies in our industry. However, our definition of operating cash flow may differ from cash flow measurements provided by other public companies. A
reconciliation of total segment operating cash fl
ili i f l i h flow to our l
loss b f
before i
income taxes and minority i
d i i interests i presented b l
is d below. OOperating cash fl
i h flow should b viewed
h ld be i d
as a measure of operating performance that is a supplement to, and not a substitute for, operating income, net earnings (loss), cash flow from operating activities
and other GAAP measures of income.
Three months ended
March 31,
2008 2007
amounts in millions
Total segment operating cash flow...................................................... $ 1,100.7 $ 824.6
Stock-based compensation expense .................................................... (40.3) (43.5)
Depreciation and amortization ............................................................ (704.1) (594.0)
Impairment, restructuring and other operating credits (charges), net..... 1.5 (5.3)
Operating income .......................................................................... 357.8 181.8
Interest expense ............................................................................... (279.6) (233.0)
Interest and dividend income ............................................................. 34.8
34 8 24.4
24 4
Share of results of affiliates, net ......................................................... 2.5 13.6
Realized and unrealized losses on derivative instruments, net................ (335.4) (10.3)
Foreign currency transaction gains, net ............................................... 172.6 24.3
Unrealized gains (losses) due to changes in fair values of certain
22.0 (71.6)
investments and debt, net ................................................................
Other expense, net ............................................................................ (0.4) (3.0)
Loss before income taxes and minority interests .............................. $ (25.7) $ (73.8)
22
23. Appendix
Free Cash Flow Definition and Reconciliation
FCF is defined as net cash provided by operating activities less capital expenditures, each as reported in our consolidated statements of cash flows. Adjusted FCF
represents FCF less non-cash capital lease additions. Unlevered FCF represents FCF excluding cash paid for interest and excluding cash flows on derivative
instruments that hedge interest rate risk. FCF, Adjusted FCF and Unlevered FCF are not GAAP measures of liquidity. We believe that our presentation of FCF,
Adjusted FCF and Unlevered FCF provides useful information to our investors because these measures can be used to gauge our ability to service debt and fund
j p gg y
new investment opportunities. These FCF measures should not be understood to represent our ability to fund discretionary amounts, as we have various
mandatory and contractual obligations, including debt repayments, which are not deducted to arrive at these amounts. Investors should view these FCF measures
as a supplement to, and not a substitute for, GAAP measures of liquidity included in our consolidated cash flow statements. The table below highlights the
reconciliation of net cash from operating activities to FCF, FCF to Adjusted FCF and FCF to Unlevered FCF for the three months ended March 31, 2008 and 2007,
respectively:
Three months ended
Th th dd
March 31,
2008 2007
Amounts in millions
Net cash provided by continuing operations ........................... $ 647.5 $ 562.7
Capital expenditures ............................................................ (519.8) (505.2)
FCF ............................................................................... $ 127.7 $ 57.5
FCF .................................................................................... $ 127.7 $ 57.5
(41.4) (48.3)
Capital lease additions..........................................................
Adjusted FCF .................................................................. $ 86.3 $ 9.2
FCF .................................................................................... $ 127.7 $ 57.5
473.2 210.4
Cash interest .......................................................................
(39.2) 25.3
Cash flows on interest-related derivative instruments .............
Unlevered FCF ................................................................ $ 561.7 $ 293.2
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