This document provides an overview of Terex Corporation and its business segments. It discusses how Terex is positioned for long-term trends in global construction and energy demand. It also notes that while the current economic environment presents near-term challenges, Terex has leading market positions and is taking actions to manage through the downturn such as reducing production and costs. Key long-term drivers for Terex's business are expected to be growth in developing markets and infrastructure and energy projects.
The majority down. 62% of our 72-stock universe suffered lower
sequential quarterly net profits, with 24% surprising on the downside.
The combined 1Q09 net profit of our research universe fell by just 3.5%
QoQ. But stripping out 5 large gainers, net profits fell a larger 13.6%
QoQ. Consumers and glove manufacturers’ defied gravity, but net
profits of virtually all stocks in nine sectors fell quarter-on-quarter.
A surprising combined result, but the devil is in the details. The
combined net profit of our research universe declined just 3.5% QoQ
despite an overwhelming 62% of companies reporting a sequential
quarterly decline. But excluding five companies, combined net profit fell
13.6% QoQ, an acceleration from previous quarters. A broad-based
earnings decline is being masked by a few companies, including some
monopolies.
Declines in nine sectors, but consumer sector unscathed. Every
stock in nine sectors, excluding monopolies Petronas Gas and KLCCP,
experienced a drop in quarterly sequential earnings. The sectors are
gaming, oil & gas, property, REITs, construction, building materials,
semi-conductors, plantations and toll roads. Consumer stocks and
glove manufacturers showed particular resilience.
An ‘energy dividend’ took effect; monopolies fared well. Lower oil
prices benefited heavy fuel users AirAsia and Tenaga. Their gains were
only partially offset by lower earnings at the oil & gas services
companies. Net profits of Telekom, Tenaga and Petronas Gas, all
effectively monopolies, improved on a quarterly basis although only
Petronas Gas raised prices in 1Q09.
The biggest disappointment and downgrade: 1Q GDP. First quarter
2009 GDP fell 6.2% YoY, against consensus expectations of a 3-4%
drop. We have revised our GDP forecasts to -3.8% in 2009 and +4.0%
YoY in 2010 (previously -1.3% and +3.5% respectively). The
government, to be ahead in the expectations game, is projecting 2009
GDP growth of -4% to -5%. The silver lining is the government is now
under greater pressure to implement its fiscal stimulus plans quickly.
A reversal of fortune ahead for construction, building materials.
Despite uniformly lower earnings this 1Q, we believe the construction
and building materials sectors are only 2-3 quarters away from
improved revenues. Share prices of stocks in these sectors will likely
be driven by newsflow from the fiscal stimulus rather than earnings.
Objective Capital Global Mining Investment Conference
30 Sep 2009
Mining financing through the cycle in frontier countries
by Sacha BackesDepartment for Oil, Gas, Mining and Chemicals
International Finance CorporationWorld Bank Group
The majority down. 62% of our 72-stock universe suffered lower
sequential quarterly net profits, with 24% surprising on the downside.
The combined 1Q09 net profit of our research universe fell by just 3.5%
QoQ. But stripping out 5 large gainers, net profits fell a larger 13.6%
QoQ. Consumers and glove manufacturers’ defied gravity, but net
profits of virtually all stocks in nine sectors fell quarter-on-quarter.
A surprising combined result, but the devil is in the details. The
combined net profit of our research universe declined just 3.5% QoQ
despite an overwhelming 62% of companies reporting a sequential
quarterly decline. But excluding five companies, combined net profit fell
13.6% QoQ, an acceleration from previous quarters. A broad-based
earnings decline is being masked by a few companies, including some
monopolies.
Declines in nine sectors, but consumer sector unscathed. Every
stock in nine sectors, excluding monopolies Petronas Gas and KLCCP,
experienced a drop in quarterly sequential earnings. The sectors are
gaming, oil & gas, property, REITs, construction, building materials,
semi-conductors, plantations and toll roads. Consumer stocks and
glove manufacturers showed particular resilience.
An ‘energy dividend’ took effect; monopolies fared well. Lower oil
prices benefited heavy fuel users AirAsia and Tenaga. Their gains were
only partially offset by lower earnings at the oil & gas services
companies. Net profits of Telekom, Tenaga and Petronas Gas, all
effectively monopolies, improved on a quarterly basis although only
Petronas Gas raised prices in 1Q09.
The biggest disappointment and downgrade: 1Q GDP. First quarter
2009 GDP fell 6.2% YoY, against consensus expectations of a 3-4%
drop. We have revised our GDP forecasts to -3.8% in 2009 and +4.0%
YoY in 2010 (previously -1.3% and +3.5% respectively). The
government, to be ahead in the expectations game, is projecting 2009
GDP growth of -4% to -5%. The silver lining is the government is now
under greater pressure to implement its fiscal stimulus plans quickly.
A reversal of fortune ahead for construction, building materials.
Despite uniformly lower earnings this 1Q, we believe the construction
and building materials sectors are only 2-3 quarters away from
improved revenues. Share prices of stocks in these sectors will likely
be driven by newsflow from the fiscal stimulus rather than earnings.
Objective Capital Global Mining Investment Conference
30 Sep 2009
Mining financing through the cycle in frontier countries
by Sacha BackesDepartment for Oil, Gas, Mining and Chemicals
International Finance CorporationWorld Bank Group
HMS Group presentation, Morgan Stanley EMEA Conference (April 2011)HMS Group
This presentation was created to present HMS Group at one-on-one meetings with investors within Morgan Stanley EMEA Conference (12-14 April 2011, London & New-York).
The solar energy market in China has been growing steadily and is expected to grow further. Major government initiatives coupled with large scale demand from the export market has been attracting investments in the sector.
The report begins with an introduction to the global solar energy market which includes current and expected growth in installed capacity and market size as well as the segmented share of the major solar markets across the globe. It also includes major initiatives in the international markets as well as the solar PV production chain. An overview of the energy market in China has been provided including estimated figures for increase in energy consumption. The solar energy market in China is given with existing and estimated figures for installed capacity and market size. This section also includes the cost entailed in solar power generation.
The drivers explain the factors influencing growth of the industry including geographical advantages, solar subsidies, and strong investment potential and global competitiveness. The key challenges identified encompass the rising raw materials and oversupply condition, high price of electricity generation and low per capita income. The trends in the market have been analyzed and include – international participation, players focusing on the export market, companies expanding businesses vertically and focus on silicon based solar cells.
The major government programmes and investments towards the development of the industry have been discussed including the national renewable energy standard, region specific plans and investments, feed-in-tariff, rural electrification programme and research and development initiatives.
Competition section profiles the major domestic as well as international players in the market. The section contains a snapshot of the corporations’ financial performance and business highlights, providing an insight into the existing competitive scenario.
HMS Group presentation, Morgan Stanley EMEA Conference (April 2011)HMS Group
This presentation was created to present HMS Group at one-on-one meetings with investors within Morgan Stanley EMEA Conference (12-14 April 2011, London & New-York).
The solar energy market in China has been growing steadily and is expected to grow further. Major government initiatives coupled with large scale demand from the export market has been attracting investments in the sector.
The report begins with an introduction to the global solar energy market which includes current and expected growth in installed capacity and market size as well as the segmented share of the major solar markets across the globe. It also includes major initiatives in the international markets as well as the solar PV production chain. An overview of the energy market in China has been provided including estimated figures for increase in energy consumption. The solar energy market in China is given with existing and estimated figures for installed capacity and market size. This section also includes the cost entailed in solar power generation.
The drivers explain the factors influencing growth of the industry including geographical advantages, solar subsidies, and strong investment potential and global competitiveness. The key challenges identified encompass the rising raw materials and oversupply condition, high price of electricity generation and low per capita income. The trends in the market have been analyzed and include – international participation, players focusing on the export market, companies expanding businesses vertically and focus on silicon based solar cells.
The major government programmes and investments towards the development of the industry have been discussed including the national renewable energy standard, region specific plans and investments, feed-in-tariff, rural electrification programme and research and development initiatives.
Competition section profiles the major domestic as well as international players in the market. The section contains a snapshot of the corporations’ financial performance and business highlights, providing an insight into the existing competitive scenario.
NO1 Uk Rohani Baba In Karachi Bangali Baba Karachi Online Amil Baba WorldWide...Amil baba
Contact with Dawood Bhai Just call on +92322-6382012 and we'll help you. We'll solve all your problems within 12 to 24 hours and with 101% guarantee and with astrology systematic. If you want to take any personal or professional advice then also you can call us on +92322-6382012 , ONLINE LOVE PROBLEM & Other all types of Daily Life Problem's.Then CALL or WHATSAPP us on +92322-6382012 and Get all these problems solutions here by Amil Baba DAWOOD BANGALI
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Empowering the Unbanked: The Vital Role of NBFCs in Promoting Financial Inclu...Vighnesh Shashtri
In India, financial inclusion remains a critical challenge, with a significant portion of the population still unbanked. Non-Banking Financial Companies (NBFCs) have emerged as key players in bridging this gap by providing financial services to those often overlooked by traditional banking institutions. This article delves into how NBFCs are fostering financial inclusion and empowering the unbanked.
USDA Loans in California: A Comprehensive Overview.pptxmarketing367770
USDA Loans in California: A Comprehensive Overview
If you're dreaming of owning a home in California's rural or suburban areas, a USDA loan might be the perfect solution. The U.S. Department of Agriculture (USDA) offers these loans to help low-to-moderate-income individuals and families achieve homeownership.
Key Features of USDA Loans:
Zero Down Payment: USDA loans require no down payment, making homeownership more accessible.
Competitive Interest Rates: These loans often come with lower interest rates compared to conventional loans.
Flexible Credit Requirements: USDA loans have more lenient credit score requirements, helping those with less-than-perfect credit.
Guaranteed Loan Program: The USDA guarantees a portion of the loan, reducing risk for lenders and expanding borrowing options.
Eligibility Criteria:
Location: The property must be located in a USDA-designated rural or suburban area. Many areas in California qualify.
Income Limits: Applicants must meet income guidelines, which vary by region and household size.
Primary Residence: The home must be used as the borrower's primary residence.
Application Process:
Find a USDA-Approved Lender: Not all lenders offer USDA loans, so it's essential to choose one approved by the USDA.
Pre-Qualification: Determine your eligibility and the amount you can borrow.
Property Search: Look for properties in eligible rural or suburban areas.
Loan Application: Submit your application, including financial and personal information.
Processing and Approval: The lender and USDA will review your application. If approved, you can proceed to closing.
USDA loans are an excellent option for those looking to buy a home in California's rural and suburban areas. With no down payment and flexible requirements, these loans make homeownership more attainable for many families. Explore your eligibility today and take the first step toward owning your dream home.
Introduction to Indian Financial System ()Avanish Goel
The financial system of a country is an important tool for economic development of the country, as it helps in creation of wealth by linking savings with investments.
It facilitates the flow of funds form the households (savers) to business firms (investors) to aid in wealth creation and development of both the parties
What price will pi network be listed on exchangesDOT TECH
The rate at which pi will be listed is practically unknown. But due to speculations surrounding it the predicted rate is tends to be from 30$ — 50$.
So if you are interested in selling your pi network coins at a high rate tho. Or you can't wait till the mainnet launch in 2026. You can easily trade your pi coins with a merchant.
A merchant is someone who buys pi coins from miners and resell them to Investors looking forward to hold massive quantities till mainnet launch.
I will leave the telegram contact of my personal pi vendor to trade with.
@Pi_vendor_247
US Economic Outlook - Being Decided - M Capital Group August 2021.pdfpchutichetpong
The U.S. economy is continuing its impressive recovery from the COVID-19 pandemic and not slowing down despite re-occurring bumps. The U.S. savings rate reached its highest ever recorded level at 34% in April 2020 and Americans seem ready to spend. The sectors that had been hurt the most by the pandemic specifically reduced consumer spending, like retail, leisure, hospitality, and travel, are now experiencing massive growth in revenue and job openings.
Could this growth lead to a “Roaring Twenties”? As quickly as the U.S. economy contracted, experiencing a 9.1% drop in economic output relative to the business cycle in Q2 2020, the largest in recorded history, it has rebounded beyond expectations. This surprising growth seems to be fueled by the U.S. government’s aggressive fiscal and monetary policies, and an increase in consumer spending as mobility restrictions are lifted. Unemployment rates between June 2020 and June 2021 decreased by 5.2%, while the demand for labor is increasing, coupled with increasing wages to incentivize Americans to rejoin the labor force. Schools and businesses are expected to fully reopen soon. In parallel, vaccination rates across the country and the world continue to rise, with full vaccination rates of 50% and 14.8% respectively.
However, it is not completely smooth sailing from here. According to M Capital Group, the main risks that threaten the continued growth of the U.S. economy are inflation, unsettled trade relations, and another wave of Covid-19 mutations that could shut down the world again. Have we learned from the past year of COVID-19 and adapted our economy accordingly?
“In order for the U.S. economy to continue growing, whether there is another wave or not, the U.S. needs to focus on diversifying supply chains, supporting business investment, and maintaining consumer spending,” says Grace Feeley, a research analyst at M Capital Group.
While the economic indicators are positive, the risks are coming closer to manifesting and threatening such growth. The new variants spreading throughout the world, Delta, Lambda, and Gamma, are vaccine-resistant and muddy the predictions made about the economy and health of the country. These variants bring back the feeling of uncertainty that has wreaked havoc not only on the stock market but the mindset of people around the world. MCG provides unique insight on how to mitigate these risks to possibly ensure a bright economic future.
If you are looking for a pi coin investor. Then look no further because I have the right one he is a pi vendor (he buy and resell to whales in China). I met him on a crypto conference and ever since I and my friends have sold more than 10k pi coins to him And he bought all and still want more. I will drop his telegram handle below just send him a message.
@Pi_vendor_247
Turin Startup Ecosystem 2024 - Ricerca sulle Startup e il Sistema dell'Innov...Quotidiano Piemontese
Turin Startup Ecosystem 2024
Una ricerca de il Club degli Investitori, in collaborazione con ToTeM Torino Tech Map e con il supporto della ESCP Business School e di Growth Capital
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what is the future of Pi Network currency.DOT TECH
The future of the Pi cryptocurrency is uncertain, and its success will depend on several factors. Pi is a relatively new cryptocurrency that aims to be user-friendly and accessible to a wide audience. Here are a few key considerations for its future:
Message: @Pi_vendor_247 on telegram if u want to sell PI COINS.
1. Mainnet Launch: As of my last knowledge update in January 2022, Pi was still in the testnet phase. Its success will depend on a successful transition to a mainnet, where actual transactions can take place.
2. User Adoption: Pi's success will be closely tied to user adoption. The more users who join the network and actively participate, the stronger the ecosystem can become.
3. Utility and Use Cases: For a cryptocurrency to thrive, it must offer utility and practical use cases. The Pi team has talked about various applications, including peer-to-peer transactions, smart contracts, and more. The development and implementation of these features will be essential.
4. Regulatory Environment: The regulatory environment for cryptocurrencies is evolving globally. How Pi navigates and complies with regulations in various jurisdictions will significantly impact its future.
5. Technology Development: The Pi network must continue to develop and improve its technology, security, and scalability to compete with established cryptocurrencies.
6. Community Engagement: The Pi community plays a critical role in its future. Engaged users can help build trust and grow the network.
7. Monetization and Sustainability: The Pi team's monetization strategy, such as fees, partnerships, or other revenue sources, will affect its long-term sustainability.
It's essential to approach Pi or any new cryptocurrency with caution and conduct due diligence. Cryptocurrency investments involve risks, and potential rewards can be uncertain. The success and future of Pi will depend on the collective efforts of its team, community, and the broader cryptocurrency market dynamics. It's advisable to stay updated on Pi's development and follow any updates from the official Pi Network website or announcements from the team.
how can I sell pi coins after successfully completing KYCDOT TECH
Pi coins is not launched yet in any exchange 💱 this means it's not swappable, the current pi displaying on coin market cap is the iou version of pi. And you can learn all about that on my previous post.
RIGHT NOW THE ONLY WAY you can sell pi coins is through verified pi merchants. A pi merchant is someone who buys pi coins and resell them to exchanges and crypto whales. Looking forward to hold massive quantities of pi coins before the mainnet launch.
This is because pi network is not doing any pre-sale or ico offerings, the only way to get my coins is from buying from miners. So a merchant facilitates the transactions between the miners and these exchanges holding pi.
I and my friends has sold more than 6000 pi coins successfully with this method. I will be happy to share the contact of my personal pi merchant. The one i trade with, if you have your own merchant you can trade with them. For those who are new.
Message: @Pi_vendor_247 on telegram.
I wouldn't advise you selling all percentage of the pi coins. Leave at least a before so its a win win during open mainnet. Have a nice day pioneers ♥️
#kyc #mainnet #picoins #pi #sellpi #piwallet
#pinetwork
What website can I sell pi coins securely.DOT TECH
Currently there are no website or exchange that allow buying or selling of pi coins..
But you can still easily sell pi coins, by reselling it to exchanges/crypto whales interested in holding thousands of pi coins before the mainnet launch.
Who is a pi merchant?
A pi merchant is someone who buys pi coins from miners and resell to these crypto whales and holders of pi..
This is because pi network is not doing any pre-sale. The only way exchanges can get pi is by buying from miners and pi merchants stands in between the miners and the exchanges.
How can I sell my pi coins?
Selling pi coins is really easy, but first you need to migrate to mainnet wallet before you can do that. I will leave the telegram contact of my personal pi merchant to trade with.
Tele-gram.
@Pi_vendor_247
Even tho Pi network is not listed on any exchange yet.
Buying/Selling or investing in pi network coins is highly possible through the help of vendors. You can buy from vendors[ buy directly from the pi network miners and resell it]. I will leave the telegram contact of my personal vendor.
@Pi_vendor_247
1. J.P. Morgan Global High Yield and
Leveraged Finance Conference
February 3, 2009
2. Forward Looking Statements &
Non-GAAP Measures
The following presentation contains forward-looking information based on the current expectations of Terex
Corporation. Because forward-looking statements involve risks and uncertainties, actual results could differ
materially. Such risks and uncertainties, many of which are beyond the control of Terex, include among others: our
business is highly cyclical and weak general economic conditions may affect the sales of its products and its
financial results; our business is sensitive to fluctuations in interest rates and government spending; the ability to
successfully integrate acquired businesses; the retention of key management personnel; our businesses are very
competitive and may be affected by pricing, product initiatives and other actions taken by competitors; the effects of
changes in laws and regulations; our business is international in nature and is subject to changes in exchange rates
between currencies, as well as international politics; our continued access to capital and ability to obtain parts and
components from suppliers on a timely basis at competitive prices; the financial condition of suppliers and
customers, and their continued access to capital; our ability to timely manufacture and deliver products to
customers; possible work stoppages and other labor matters; our debt outstanding and the need to comply with
restrictive covenants contained in our debt agreements; our ability to maintain adequate disclosure controls and
procedures, maintain adequate internal controls over financial reporting and file its periodic reports with the SEC on
a timely basis; the previously announced investigations by the SEC and the Department of Justice; compliance with
applicable environmental laws and regulations; product liability claims and other liabilities arising out of our
business; and other factors, risks, uncertainties more specifically set forth in our public filings with the SEC. Actual
events or the actual future results of Terex may differ materially from any forward looking statement due to those
and other risks, uncertainties and significant factors. The forward-looking statements speak only as of the date of
this presentation. Terex expressly disclaims any obligation or undertaking to release publicly any updates or
revisions to any forward-looking statement included in this presentation to reflect any changes in expectations with
regard thereto or any changes in events, conditions, or circumstances on which any such statement is based.
Non-GAAP Measures: Terex from time to time refers to various non-GAAP (generally accepted accounting
principles) financial measures in this presentation. Terex believes that this information is useful to understanding
its operating results and the ongoing performance of its underlying businesses without the impact of special items.
See the Investors section of our website www.terex.com for a complete reconciliation.
2
3. Terex Is…
• A diversified portfolio of equipment businesses
• Positioned for continuing long - term trends
• A leader in our industry
• Leveraging the Power of One Company
AERIAL WORK MATERIALS PROC.
CRANES
PLATFORMS AND MINING
ROADBUILDING AND
CONSTRUCTION
UTILITIES
3
4. Terex Is Diversified
Diversified Portfolio of Equipment Businesses
2008 YTD Sales by Geography
2008 LTM* Sales by Segment
RBU
7%
Developing
AWP
Markets
22% W. Europe
Construction 24% 32%
20%
Japan / ANZ
9%
Cranes USA /
MP&M
27% Canada
24%
35%
$ 10.4 billion $ 7.8 billion
$ 10.4 billion $ 7.8 billion
Balanced by business; Balanced geographically
4
* Last Twelve Months sales through Sep 30, 2008
5. Positioned for Long Term Trends
2009 GDP Forecasts: October 2008 versus Current Period
%
2009 Global GDP outlook has worsened but remains
positive for developing markets
5
*Source: The Economist (economic intelligence unit)
6. Positioned For Long-Term Trends
Global Non-Residential Construction Long Term Energy Outlook
$Billions
Spending (Real Dollars 2008)
$8,000
$7,000
5.6%
$6,000
CAGR
3.4 %
$5,000 CAGR
5.6 %
$4,000 CAGR
2.2 %
CAGR
$3,000
$2,000
$1,000
$0
'90'91'92'93'94'95'96'97'98'99'00'01'02'03'04'05'06'07'08'09'10'11'12'13'14'15'16'17'18
Infrastructure Industrial Other Non-Residential
* Source: Global Insights, October 30, 2008; 69 countries tracked by GI + 5% to account * Source: International Energy Agency
for rest of world … consistent with global GDP’s
• Global non-residential construction growth slowed but
continuing, driven by developing markets
• Global infrastructure and energy outlook remains positive
6
7. Terex Is A Leader In Our Industry
$31.8
$22.0
$10.4
$8.8 $8.7 $8.1
$5.3 $4.8 $4.5 $4.5 $4.4 $3.6
Deere (8) CNH Global (9) Oshkosh (11)
Liebherr (6) Sandvik (7) JCB (6) Doosan (10)
Komatsu (2) Terex (3)
Caterpillar (1) Hitachi (4) Volvo (5)
Based on last twelve months of available Construction Equipment Sales ($’s in Billions)
(1) Represents Machinery sales for the last twelve months ended December 31, 2008; excludes Engine and Financial Product sales
(2) Represents Komatsu’s Construction, Mining & Utility Equipment segment ended December 31, 2008 converted at an exchange rate of JPY/USD of 90.727
(3) Last twelve months ended September 30, 2008
(4) Represents the Construction Machinery segment ended September 30, 2008 converted at an exchange rate of USD/JPY 106.349
(5) Represents Volvo’s Construction Equipment segment as of September 30, 2008 converted at an exchange rate of USD/SEK 6.9252
(6) Estimated, as these are privately owned companies:
JCB: 2007 sales of GBP 2.25 billion converted at December 31, 2007 GBP/USD rate of 1.9870
Liebherr: 2007 Cranes/Mining/Construction sales of EUR 5.5 billion converted at December 31, 2007 EUR/USD rate of 1.4598
(7) Represents Mining & Construction sales through September 30, 2008 converted at an exchange rate of SEK/USD 6.9252
(8) Represents Deere’s Construction and Forestry segment last twelve months ended October 31, 2008
(9) Represents CNH Global’s Construction Equipment Segment last twelve months ended December 31, 2008
(10) Represents 2007 Construction Equipment sales of $1.5 billion converted at an exchange rate at December 31, 2007 of KRW/USD 936.07 plus estimated 2007 bobcat sales of $2.9 billion
(11) Represents Access & Commercial (both concrete & refuse trucks) for the last twelve months ended December 31, 2008
7
8. Leveraging The Power
Of One Company
• Our framework to
build a stronger
Terex
• Process
improvements for
long term benefits
8
9. Near Term Outlook Challenging
• Sales trends for AWP / Utilities (down 30%-40%),
Construction / Roadbuilding (down 25%-35%), and
Materials Processing (down 15%-20%) continue to be
impacted by current market conditions
• Mining and Cranes not immune to credit crisis but some
stability at the high end
• Continued slowdown in smaller cranes, smaller RT’s and
Towers
• Strong Dollar will have a negative translation impact
9
10. Aerial Work Platforms
$B
$2.5 30%
25%
$2.0
Current Environment
Current Environment
20%
$1.5
•• Strong global market share position (top 2)
Strong global market share position (top 2)
15%
$1.0
•• N. America downturn and accelerated
10%
N. America downturn and accelerated
$0.5
downturn in W. Europe back half of 2008
5%
downturn in W. Europe back half of 2008
$0.0 0%
•• Long-term growth expected in developing
Long-term growth expected in developing
2004 2005 2006 2007 Q3 '08
markets
(ltm)
markets
Terex Response
Sales Gross Margin Op. Margin
Terex Response
•• Production and head-count reductions
Sales by Product Sales by Geography
Production and head-count reductions
10%
8%
•• Temporary factory shutdowns
4%
11%
Temporary factory shutdowns
28%
•• Rescheduling/delaying of raw material
21%
Rescheduling/delaying of raw material
deliveries
deliveries
•• Increased emphasis on refurbishment
Increased emphasis on refurbishment
58%
60%
•• Continued TBS / /improvement initiatives
Continued TBS improvement initiatives
2008 Q3 YTD
2008 Q3 YTD
Developing Markets
Portable & Other
Japan / ANZ
Telehandlers
W. Europe
Scissors
USA / Canada
Booms
10
11. Construction
$B
Current Environment
30%
Current Environment
$2.0
25%
•• Largest market potential but small market
Largest market potential but small market
$1.5 position
20%
position
15%
•• N. America downturn and accelerated
$1.0
N. America downturn and accelerated
downturn in W. Europe back half of ’08
10%
downturn in W. Europe back half of ’08
$0.5
5%
•• Operational improvements - -TBS,
Operational improvements TBS,
distribution, developing markets ––expected
$0.0 0%
distribution, developing markets expected
2004 2005 2006 2007 Q3 '08
to drive future profit growth
to drive future profit growth
(ltm)
Terex Response
Terex Response
Sales Gross Margin Op. Margin
•• Production & head-count reductions
Production & head-count reductions
Sales by Product Sales by Geography
•• Strong Dollar creates opportunity in N.
Strong Dollar creates opportunity in N.
24%
17%
America
America
1%
19%
•• Temporary factory shutdowns
Temporary factory shutdowns
28%
•• Rescheduling/delaying of raw material
58%
Rescheduling/delaying of raw material
deliveries
deliveries
36%
•• Facility consolidations
17%
Facility consolidations
•• Continued TBS / /improvement initiatives
2008 Q2 YTD 2008 Q3 YTD
Continued TBS improvement initiatives
Trucks Developing Markets
Material Handling Japan / ANZ
Heavy W. Europe
11
Compact
USA / Canada
12. Cranes
$B
30%
$2.5
Current Environment
25% Current Environment
$2.0
•• Strong global market position (top 3)
20%
Strong global market position (top 3)
$1.5
15% •• Infrastructure and energy projects
Infrastructure and energy projects
$1.0
driving strength of larger cranes
10%
driving strength of larger cranes
(crawlers, ATC’s, larger RT’s)
$0.5 5% (crawlers, ATC’s, larger RT’s)
•• Tower crane and smaller capacity
$0.0 0%
Tower crane and smaller capacity
2004 2005 2006 2007 Q3 '08
cranes have been negatively impacted
cranes have been negatively impacted
(ltm)
by credit crisis
by credit crisis
Sales Gross Margin Op. Margin
Terex Response
Terex Response
•• Production and head-count reductions
Sales by Product Sales by Geography Production and head-count reductions
3%
•• Facility consolidation
15%
Facility consolidation
27%
•• Rescheduling/delaying of raw material
20% 6%
Rescheduling/delaying of raw material
deliveries
15%
deliveries
40%
•• Continued TBS / /improvement initiatives
Continued TBS improvement initiatives
47%
27%
2008 Q3 YTD
2008 Q2 YTD
Stackers Developing Markets
Towers Japan / ANZ
Crawlers
W. Europe
Other Mobile
USA / Canada
ATC / RT 12
13. Materials Processing & Mining
$B
Materials Processing
Materials Processing
$2.5 30%
Current Environment
Current Environment
25%
$2.0
• • Leading global market position in mobile products
Leading global market position in mobile products
20%
$1.5 • • Accelerated global downturn in back half of 2008
Accelerated global downturn in back half of 2008
15%
• • Long-term growth expected in developing markets
$1.0
Long-term growth expected in developing markets
10%
Terex Response
Terex Response
$0.5 5%
• • Production and head-count reductions
Production and head-count reductions
$0.0 0%
• • Temporary factory shutdowns
2004 2005 2006 2007 Q3 '08 Temporary factory shutdowns
(ltm)
• • Rescheduling/delaying of raw material deliveries
Rescheduling/delaying of raw material deliveries
• • Continued TBS / /improvement initiatives
Sales Gross Margin Op. Margin
Continued TBS improvement initiatives
Mining
Mining
Sales by Product Sales by Geography
• • Strong global market position (top 3)
Strong global market position (top 3)
34%
• • Significant commodities volatility
47%
Significant commodities volatility
• • Some rescheduling / /cancellations of order backlog
23%
Some rescheduling cancellations of order backlog
13%
Terex Response
Terex Response
17%
13%
• • Reconfirming backlog and delivery schedules
Reconfirming backlog and delivery schedules
27% 26%
• • More stringent production scheduling
More stringent production scheduling
• • Increased emphasis on customer support for installed
2008 Q2 YTD 2008 Q3 YTD
Increased emphasis on customer support for installed
base (parts & service)
base (parts & service)
Developing Markets
Materials Processing
Japan / ANZ
Drills/ Other
• • Continued TBS / /improvement initiatives
Continued TBS improvement initiatives
W. Europe
Trucks
USA / Canada
Shovels 13
14. Terex Response To Environment
• Focus on customers
• Developing markets distribution development, large infrastructure
projects, localized service and support
• Increased utilization of Terex Financial Services
• Customer support / refurbishment / parts and service
• Internal cash generation
• Discipline on terms and conditions
• Raw material demand planning and scheduling vigilance
• Capital spending scrutiny
• Discretionary spending – wage freeze, benefit reductions, travel
curtailment and reduced trade show activity …
• Internal improvement initiatives continue
14
15. Terex To Date:
Growth With Moderate Leverage
$10.4
Net Debt
Sales $9.1
$7.6
($ in billions)
$6.2
$4.8
$3.9
$2.8
$2.0
$1.9 $1.8
1999 2000 2001 2002 2003 2004 2005 2006 2007 Q3 2008*
Net leverage of 1.0x at Q3 2008 provides flexibility
• Q3 2008 sales is based on last 12 months sales as of Sept 30, 2008; Net Debt is as of Sept 30, 2008
• Net leverage ratio is defined as debt less cash and cash equivalents divided by last twelve months EBITDA
15
16. Terex Debt Profile
Major components of debt include:
• $700 million Revolver - July 2012
• $196 million Term Loan* - July 2013
• $300 million 7 3/8% Notes - January 2014
• $800 million 8.00% Notes - November 2017
Liquidity of $881 million at September 30, 2008, including:
• Cash of $488 million
• Revolver availability of $393 million
• Working capital reductions
No near-term debt maturities
Adequate liquidity
* Term Loan balance as of Sep 30, 2008
16
17. Summary
• Diversified portfolio – geographic and product
• Leadership position in over 75% of revenue base
• Positioned for long-term trends
• Aggressively responding to changing market conditions
• Internal initiatives will enhance operating performance
• No near term debt maturities, adequate liquidity
17