Masco reported its first quarter 2013 results, with continued margin expansion and sales growth driven by increased North American new home construction activity. The Cabinet segment improved profitability and achieved break-even on an adjusted basis. Weakness continued in the Eurozone. Key highlights included margin improvement across several segments from operating leverage and cost control efforts, as well as successful new product launches and market share gains. Masco is focused on strategic growth initiatives, cost productivity, and debt reduction in 2013.
Enterprise Excellence is Inclusive Excellence.pdfKaiNexus
Enterprise excellence and inclusive excellence are closely linked, and real-world challenges have shown that both are essential to the success of any organization. To achieve enterprise excellence, organizations must focus on improving their operations and processes while creating an inclusive environment that engages everyone. In this interactive session, the facilitator will highlight commonly established business practices and how they limit our ability to engage everyone every day. More importantly, though, participants will likely gain increased awareness of what we can do differently to maximize enterprise excellence through deliberate inclusion.
What is Enterprise Excellence?
Enterprise Excellence is a holistic approach that's aimed at achieving world-class performance across all aspects of the organization.
What might I learn?
A way to engage all in creating Inclusive Excellence. Lessons from the US military and their parallels to the story of Harry Potter. How belt systems and CI teams can destroy inclusive practices. How leadership language invites people to the party. There are three things leaders can do to engage everyone every day: maximizing psychological safety to create environments where folks learn, contribute, and challenge the status quo.
Who might benefit? Anyone and everyone leading folks from the shop floor to top floor.
Dr. William Harvey is a seasoned Operations Leader with extensive experience in chemical processing, manufacturing, and operations management. At Michelman, he currently oversees multiple sites, leading teams in strategic planning and coaching/practicing continuous improvement. William is set to start his eighth year of teaching at the University of Cincinnati where he teaches marketing, finance, and management. William holds various certifications in change management, quality, leadership, operational excellence, team building, and DiSC, among others.
Unveiling the Secrets How Does Generative AI Work.pdfSam H
At its core, generative artificial intelligence relies on the concept of generative models, which serve as engines that churn out entirely new data resembling their training data. It is like a sculptor who has studied so many forms found in nature and then uses this knowledge to create sculptures from his imagination that have never been seen before anywhere else. If taken to cyberspace, gans work almost the same way.
Attending a job Interview for B1 and B2 Englsih learnersErika906060
It is a sample of an interview for a business english class for pre-intermediate and intermediate english students with emphasis on the speking ability.
RMD24 | Debunking the non-endemic revenue myth Marvin Vacquier Droop | First ...BBPMedia1
Marvin neemt je in deze presentatie mee in de voordelen van non-endemic advertising op retail media netwerken. Hij brengt ook de uitdagingen in beeld die de markt op dit moment heeft op het gebied van retail media voor niet-leveranciers.
Retail media wordt gezien als het nieuwe advertising-medium en ook mediabureaus richten massaal retail media-afdelingen op. Merken die niet in de betreffende winkel liggen staan ook nog niet in de rij om op de retail media netwerken te adverteren. Marvin belicht de uitdagingen die er zijn om echt aansluiting te vinden op die markt van non-endemic advertising.
"𝑩𝑬𝑮𝑼𝑵 𝑾𝑰𝑻𝑯 𝑻𝑱 𝑰𝑺 𝑯𝑨𝑳𝑭 𝑫𝑶𝑵𝑬"
𝐓𝐉 𝐂𝐨𝐦𝐬 (𝐓𝐉 𝐂𝐨𝐦𝐦𝐮𝐧𝐢𝐜𝐚𝐭𝐢𝐨𝐧𝐬) is a professional event agency that includes experts in the event-organizing market in Vietnam, Korea, and ASEAN countries. We provide unlimited types of events from Music concerts, Fan meetings, and Culture festivals to Corporate events, Internal company events, Golf tournaments, MICE events, and Exhibitions.
𝐓𝐉 𝐂𝐨𝐦𝐬 provides unlimited package services including such as Event organizing, Event planning, Event production, Manpower, PR marketing, Design 2D/3D, VIP protocols, Interpreter agency, etc.
Sports events - Golf competitions/billiards competitions/company sports events: dynamic and challenging
⭐ 𝐅𝐞𝐚𝐭𝐮𝐫𝐞𝐝 𝐩𝐫𝐨𝐣𝐞𝐜𝐭𝐬:
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➢CHILDREN ART EXHIBITION 2024: BEYOND BARRIERS
➢ WOW K-Music Festival 2023
➢ Winner [CROSS] Tour in HCM
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➢ Korean Vietnam Partnership - Fair with LG
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➢ Vietnam Food Expo with Lotte Wellfood
"𝐄𝐯𝐞𝐫𝐲 𝐞𝐯𝐞𝐧𝐭 𝐢𝐬 𝐚 𝐬𝐭𝐨𝐫𝐲, 𝐚 𝐬𝐩𝐞𝐜𝐢𝐚𝐥 𝐣𝐨𝐮𝐫𝐧𝐞𝐲. 𝐖𝐞 𝐚𝐥𝐰𝐚𝐲𝐬 𝐛𝐞𝐥𝐢𝐞𝐯𝐞 𝐭𝐡𝐚𝐭 𝐬𝐡𝐨𝐫𝐭𝐥𝐲 𝐲𝐨𝐮 𝐰𝐢𝐥𝐥 𝐛𝐞 𝐚 𝐩𝐚𝐫𝐭 𝐨𝐟 𝐨𝐮𝐫 𝐬𝐭𝐨𝐫𝐢𝐞𝐬."
[Note: This is a partial preview. To download this presentation, visit:
https://www.oeconsulting.com.sg/training-presentations]
Sustainability has become an increasingly critical topic as the world recognizes the need to protect our planet and its resources for future generations. Sustainability means meeting our current needs without compromising the ability of future generations to meet theirs. It involves long-term planning and consideration of the consequences of our actions. The goal is to create strategies that ensure the long-term viability of People, Planet, and Profit.
Leading companies such as Nike, Toyota, and Siemens are prioritizing sustainable innovation in their business models, setting an example for others to follow. In this Sustainability training presentation, you will learn key concepts, principles, and practices of sustainability applicable across industries. This training aims to create awareness and educate employees, senior executives, consultants, and other key stakeholders, including investors, policymakers, and supply chain partners, on the importance and implementation of sustainability.
LEARNING OBJECTIVES
1. Develop a comprehensive understanding of the fundamental principles and concepts that form the foundation of sustainability within corporate environments.
2. Explore the sustainability implementation model, focusing on effective measures and reporting strategies to track and communicate sustainability efforts.
3. Identify and define best practices and critical success factors essential for achieving sustainability goals within organizations.
CONTENTS
1. Introduction and Key Concepts of Sustainability
2. Principles and Practices of Sustainability
3. Measures and Reporting in Sustainability
4. Sustainability Implementation & Best Practices
To download the complete presentation, visit: https://www.oeconsulting.com.sg/training-presentations
Discover the innovative and creative projects that highlight my journey throu...dylandmeas
Discover the innovative and creative projects that highlight my journey through Full Sail University. Below, you’ll find a collection of my work showcasing my skills and expertise in digital marketing, event planning, and media production.
VAT Registration Outlined In UAE: Benefits and Requirementsuae taxgpt
Vat Registration is a legal obligation for businesses meeting the threshold requirement, helping companies avoid fines and ramifications. Contact now!
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Tata Group Dials Taiwan for Its Chipmaking Ambition in Gujarat’s DholeraAvirahi City Dholera
The Tata Group, a titan of Indian industry, is making waves with its advanced talks with Taiwanese chipmakers Powerchip Semiconductor Manufacturing Corporation (PSMC) and UMC Group. The goal? Establishing a cutting-edge semiconductor fabrication unit (fab) in Dholera, Gujarat. This isn’t just any project; it’s a potential game changer for India’s chipmaking aspirations and a boon for investors seeking promising residential projects in dholera sir.
Visit : https://www.avirahi.com/blog/tata-group-dials-taiwan-for-its-chipmaking-ambition-in-gujarats-dholera/
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.
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Kyiv PMDay 2024 Summer
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Looking for professional printing services in Jaipur? Navpack n Print offers high-quality and affordable stationery printing for all your business needs. Stand out with custom stationery designs and fast turnaround times. Contact us today for a quote!
Improving profitability for small businessBen Wann
In this comprehensive presentation, we will explore strategies and practical tips for enhancing profitability in small businesses. Tailored to meet the unique challenges faced by small enterprises, this session covers various aspects that directly impact the bottom line. Attendees will learn how to optimize operational efficiency, manage expenses, and increase revenue through innovative marketing and customer engagement techniques.
2. Safe Harbor Statement
2
Written and oral statements made in this presentation that reflect our views about our future
performance constitute "forward-looking statements" under the Private Securities Litigation Reform
Act of 1995. Forward-looking statements can be identified by words such as “believe,” “anticipate,”
“appear,” “may,” “will,” “should,” “intend,” “plan,” “estimate,” “expect,” “assume,” “seek,” “forecast,”
and similar references to future periods. These views involve risks and uncertainties that are
difficult to predict and, accordingly, our actual results may differ materially from the results
discussed in our forward-looking statements. We caution you against relying on any of these
forward-looking statements. Our future performance may be affected by our reliance on new
home construction and home improvement, our reliance on key customers, the cost and availability
of raw materials, uncertainty in the international economy, shifts in consumer preferences and
purchasing practices, our ability to improve our underperforming businesses, and our ability to
maintain our competitive position in our industries. These and other factors are discussed in detail
in Item 1A, “Risk Factors” in our Annual Report on Form 10-K, as well as in our Quarterly Reports
on Form 10-Q and in other filings we make with the Securities and Exchange Commission. Our
forward-looking statements in this presentation speak only as of the date of this presentation.
Factors or events that could cause our actual results to differ may emerge from time to time, and it
is not possible for us to predict all of them. Unless required by law, we undertake no obligation to
update publicly any forward-looking statements as a result of new information, future events or
otherwise.
Certain of the financial and statistical data included in this presentation and the related
materials are non-GAAP financial measures as defined under Regulation G. The Company believes
that non-GAAP performance measures and ratios used in managing the business may provide
attendees of this presentation with additional meaningful comparisons between current results and
results in prior periods. Non-GAAP performance measures and ratios should be viewed in addition
to, and not as an alternative for, the Company's reported results under accounting principles
generally accepted in the United States. Additional information about the Company is contained in
the Company's filings with the SEC and is available on Masco’s web site, www.masco.com.
3. Masco Q1 2013 Results – Agenda
3
Topic
• Summary of Results Tim Wadhams
• Financial/Operations Review John Sznewajs
• Outlook Tim Wadhams
• Q&A
4. Key Messages Today
4
Continued margin expansion
Sales growth driven by increased North American new
home construction activity
Cabinet segment improves profitability to break-even
Continued weakness in the Eurozone
5. Strategy Execution Highlights Q1 2013
5
Expand market
leadership
Reduce costs
Improve
underperforming
businesses
1
2
3
Strengthen
balance sheet
4
• Continued success with new product and program
introductions at retail with Plumbing and Decorative
Architectural Products
• Additional greenfield locations added in Installation and
Other Services
• Continued commitment to cost control
• Total cost productivity savings driven by lean and sourcing
efforts
• Cabinetry segment achieves break-even profitability on
an adjusted basis
• Continued improvement in operating performance at
Installation and Other Services
• Successfully negotiated a new five year unsecured $1.25B
revolving credit facility
• Strong working capital management
6. Masco Q1 2013 Results – Agenda
6
Topic
• Summary of Results Tim Wadhams
• Financial/Operations Review John Sznewajs
• Outlook Tim Wadhams
• Q&A
7. Best First Quarter Operating Margin Since 2007
7
($ in Millions)
First Quarter
2013
Revenue
Growth
$1,876
4%
Adjusted Operating Profit*
Y-O-Y Change
$140
$22
Adjusted Operating Margin*
Y-O-Y Change
7.5%
100 bps
Adjusted EPS* $0.13
Quarterly Highlights
• North American sales increased 6%; International sales
decreased 2% in local currency
• Sales growth driven by increased sales in new home construction
and retail
• Adjusted operating profit up 19%, benefitting from operating
leverage and continued cost control
*See appendix for reconciliation to GAAP information.
8. $118M
$11M $6M $5M $140M
Q1 2012
Operating Profit*
Net Price/Commodity Net Volume/Mix Profit Improvement
& All Other Net
Q1 2013
Operating Profit*
Commitment to Cost Control and Leverage on Increased
Volume Favorably Impacting Margins
8
Y-O-Y Change in
Operating Profit $22M
*See appendix for reconciliation
9. Plumbing Products:
Strong Performance in North America Partially offset
by International
9
Quarterly Highlights
• North American faucet and toilet sales increased mid-teens percent
• North American sales growth partially offset by lost bathware business
and sales declines in European markets
• Margins impacted by an unfavorable commodity hedge, unfavorable mix
and incremental marketing costs
($ in Millions)
First Quarter
2013
Revenue
Growth
$762
3%
Adjusted Operating Profit*
Y-O-Y Change
$87
($19)
Adjusted Operating Margin*
Y-O-Y Change
11.4%
(290) bps
*Excluding business rationalization charges of $1 million and $9 million in the first quarters of 2013 and 2012, respectively.
10. Decorative Architectural Products:
Weather Impacts Core Paint Sales Comparables; Direct to
Pro and Expansion into Mexico Continue to Grow
10
Quarterly Highlights
• Weather negatively impacts core paint business comparables
• Behr Pro, Behr’s expansion into Mexico, and retail sales of Builder’s
Hardware continue to grow
• Margins positively impacted by the anniversary of pricing actions and
reduced program costs
($ in Millions)
First Quarter
2013
Revenue
Growth
$432
0%
Operating Profit
Y-O-Y Change
$89
$16
Operating Margin
Y-O-Y Change
20.6%
380 bps
11. Cabinets and Related Products:
Segment Breaks Even; Profitable in North America
11
Quarterly Highlights
• North American sales increased 5% driven by new home construction
• Retail pricing and promotional strategies positively impacting results
• Excludes Danish RTA business, which is in discontinued operations
($ in Millions)
First Quarter
2013
Revenue
Y-O-Y Change
$236
4%
Adjusted Operating Profit*
Y-O-Y Change
$ -
$14
Adjusted Operating Margin*
Y-O-Y Change
0%
610 bps
*Excluding business rationalization charges of $4 million and $2 million in the first quarters of 2013 and 2012, respectively.
12. Installation and Other Services:
Continued Positive Momentum on Top and Bottom Line
12
Quarterly Highlights
• Sales growth driven by higher volumes in residential new home construction
partially offset by the mix shift in starts composition
• Installation sales to residential new home construction increased ~30%
• Margin improvement driven by operating leverage and continued cost control
($ in Millions)
First Quarter
2013
Revenue
Growth
$312
12%
Operating Loss
Y-O-Y Change
($4)
$10
Operating Margin
Y-O-Y Change
(1.3%)
370 bps
13. Other Specialty Products:
Strong Performance Reflects Share Gains and
Profit Improvement
13
Quarterly Highlights
• North American window sales increased ~20%
• Sales growth driven by increased new home construction and repair &
remodel sales, new product introductions and share gains
• Margin improvement driven by operating leverage and continued cost
control
($ in Millions)
First Quarter
2013
Revenue
Y-O-Y Change
$134
8%
Adjusted Operating Profit*
Y-O-Y Change
$2
$7
Adjusted Operating Margin*
Y-O-Y Change
1.5%
550 bps
*Excluding business rationalization charges of $3 million in the first quarter of 2013.
14. Strengthening the Balance Sheet
• Continued strong working capital execution
• We successfully entered into a new five year $1.25
billion unsecured revolving credit facility
14
$1.0 billion of cash as of 3/31/2013
15. Masco Q1 2013 Results – Agenda
15
Topic
• Summary of Results Tim Wadhams
• Financial/Operations Review John Sznewajs
• Outlook Tim Wadhams
• Q&A
16. Delivering on 2013 Priorities - Q1 Highlights
Investment in strategic growth initiatives
Geographic expansion
Total cost productivity
Reduce debt by ~$200M
Cabinet profit improvement
Profitably grow Installation
Grow share of key brands
16
Successfully launch new products and programs
17. 2013 Outlook
Risks Opportunities
• European economic
uncertainty
• Mix shifts
• Commodity volatility
• Improving demand in new
home construction
• Successful new product and
program launches at retail
• Share gains at retail and with
big builders
• Strong liquidity
• Capitalize on operating
leverage
17
20. Appendix – Profit Reconciliation – First Quarter
20
($ in Millions) Q1 2013 Q1 2012
Sales $ 1,876 $ 1,806
Gross Profit – As Reported $ 508 $ 484
Rationalization charges 6 10
Gross Profit – As Adjusted $ 514 $ 494
Gross Margin - As Reported 27.1% 26.8%
Gross Margin - As Adjusted 27.4% 27.4%
Operating Profit – As Reported $ 132 $ 109
Rationalization charges 8 11
Charge (income) for litigation settlements, net - (2)
Operating Profit – As Adjusted $ 140 $ 118
Operating Margin - As Reported 7.0% 6.0%
Operating Margin - As Adjusted 7.5% 6.5%
21. Appendix – EPS Reconciliation – First Quarter
21
(in Millions) Q1 2013 Q1 2012
Income from Continuing Operations before Income Taxes – As Reported $ 79 $ 60
Rationalization charges 8 11
Charge (income) for litigation settlements, net - (2)
Gain from financial investments, net (3) (16)
Income from Continuing Operations before Income Taxes – As Adjusted $ 84 $ 53
Tax at 36% rate benefit (expense) (30) (19)
Less: Net income attributable to non-controlling interest 9 11
Net Income, as adjusted $ 45 $ 23
Income per common share, as adjusted $ 0.13 $ 0.07
Shares Outstanding 352 350
22. ($ in Millions) 2013 Estimate1 2012 Actual
Rationalization Charges ~ $40 $78
Tax Rate ~ 25% 198%
Interest Expense ~ $240 $254
General Corp. Expense2 ~ $130 $126
Capital Expenditures ~ $165 $119
Depreciation & Amortization3 ~ $200 $214
Shares Outstanding for EPS 352 million 349 million
2013 Guidance Estimates
1 – Based on current business plans.
2 – Excludes rationalization expenses of $14M for the year ended December 31, 2012.
3 – Includes accelerated depreciation of $28M for the year ended December 31, 2012. Such expenses are also
included in the rationalization charges.
22
23. Segment Mix Full Year 2012 Estimate
Business Segment
Cabinets and
Related Products
Plumbing
Products
Installation and
Other Services
Decorative
Architectural
Products
$0.9B
$3.0B
$1.2B
$1.8B
Revenue 2012 % of Total
40%
24%
12%
16%
$7.5B 100%Total company
23
Other Specialty
Products $0.6B 8%
R&R% vs. NC NA% vs. Int’l
82% 59%
99% 100%
69% 92%
16% 100%
75% 75%
73% 80%
R&R = % of sales to repair and remodel channels
NC = % of sales to new construction channels
NA = % of sales within North America
Int’l = % of sales outside North America
24. 2012 Masco International Revenue Split*
24 *Based on company estimates
International Sales Accounted for ~20%
of Total 2012 Masco Sales
6%
26%
3%
5%
34%
11%
15%
Other
United Kingdom
Northern Europe
Southern Europe
Central Europe
Eastern Europe
Emerging Markets