We think you have liked this presentation. If you wish to download it, please recommend it to your friends in any social system. Share buttons are a little bit lower. Thank you!
Presentation is loading. Please wait.
Published byKelsi Ringwood
Modified about 1 year ago
SKF First-quarter results 2014 Tom Johnstone, President and CEO 15 April 2014
© SKF Group 15 April 2014 Highlights Q Examples of new business Hindustan Aeronautics Ltd, India: customized bearings for helicopter transmission and main rotor Bell Helicopter Textron Inc.,USA: elastomeric bearings Turbogaz, Ukraina: magnetic bearings SCA, BillerudKorsnäs, Vattenfall, Sweden: condition monitoring solutions Geely Automobile, China: transmission seals Volkswagen, Germany: energy efficient tapered roller and ball bearings One of the largest cement producersmajor service contract in Latin America: Slide 2 Examples of new products: Extended range of infrared thermometers
© SKF Group 15 April 2014 Awards received in Q Customer awards Technical Cooperation Award, Goldwind Supplier of the Year Award, Varian Medical Systems Volvo Cars Quality Excellence (VQE) Award Excellent Supplier Award, Geely Excellent Quality Supplier Award, Hino Motors Supplier of the Year Award, General Motors Slide 3 Golden Mousetrap Awards Best Product of the Year for Electronics & Test, Editors of Design News
© SKF Group 15 April 2014 SKF Group – Q Slide 4 Financial performance Net sales, SEKm16,73415,152 Operating profit, SEKm2,0241,480 Operating margin, % Operating margin excl. one-time items, %11.4 Profit before tax, SEKm1,7871,237 Cash flow after investments before financing, SEKm Cash flow from operations, SEKm Organic sales growth in local currency: SKF Group:5.8%Europe:4% Strategic Industries:6.5%North America:3% Regional Sales and Service:3.0%Asia:11% Automotive:8.1%Latin America:4% Key points Sales volumes up by 6.2% y-o-y Manufacturing higher compared to last year
© SKF Group 15 April 2014 Organic sales growth in local currency Slide 5 % change y-o-y
© SKF Group 15 April 2014 Organic sales growth in local currency Slide 6 % y-o-y Structure in 2012: 0.4% Structure in 2013: 2.5% Structure in 2014: 4.7% -2.5% -0.7% 5.8%
© SKF Group 15 April 2014 Growth development by geography Organic growth in local currency Q vs Q Slide 7 Europe 4% Asia/Pacific 11% Middle East & Africa 21% Latin America 4% North America 3%
© SKF Group 15 April 2014 Components in net sales Slide Percent y-o-y Q1Q2Q3Q4Q1Q2Q3Q4Q1 Volume Structure Price/mix Sales in local currency Currency Net sales
© SKF Group 15 April 2014 Operating profit as reported Slide 9 SEKm
© SKF Group 15 April 2014 Operating profit excluding one-time items Slide 10 SEKm
© SKF Group 15 April 2014 Operating margin Slide 11 % * 11.9* One-time items * Excluding one-time items *
© SKF Group 15 April 2014 Slide 12 Regional Sales and Service Specialty Business Automotive % Excluding one-time items (eg. restructuring, impairments, capital gains) Operating margin per business area Strategic Industries
© SKF Group 15 April 2014 Net working capital as % of annual sales Slide 13 %
© SKF Group 15 April 2014 Return on capital employed Slide 14 % 14.6* * 15.1* One-time items * Excluding one-time items ROCE: Operating profit plus interest income, as a percentage of twelve months rolling average of total assets less the average of non-interest bearing liabilities.
© SKF Group 15 April 2014 Cash flow, after investments before financing Slide 15 SEKm Excl. acquisitions and divestments:*Q3 2012SEK 1,707 million **Q1 2013SEK -69 million ***Q3 2013SEK 871 million ****Q4 2013SEK 1,170 million ****
© SKF Group 15 April 2014 Net debt Slide 16 SEKm AB SKF, dividend paid (SEKm) : 2012 Q22, Q22,530 Cash out from acquisitions (SEKm) : 2012 Q Q Q47,900 Net debt:Loans and net provisions for post-employment benefits less short-term financial assets excluding derivatives.
© SKF Group 15 April 2014 Debt structure, maturity years Slide 17 Available credit facilities: EUR 500 million 2017 SEK 3,000 million 2016 SEK 3,000 million 2017 No financial covenants nor material adverse change clause
© SKF Group 15 April 2014 First quarter 2014 Slide 18 SEKm Net sales16,73415,152 Operating profit2,0241,480 Operating margin, % Operating margin excl. one-time items %11.4 Profit before taxes1,7871,237 Net profit1, Basic earnings per share, SEK Cash flow, after investments before financing Cash flow from operations314403
© SKF Group 15 April 2014 April 2014: SKF demand outlook Q Slide 19 Demand compared to the second quarter 2013 The demand for SKF’s products and services is expected to be slightly higher for the Group, North America and Asia. It is expected to be relatively unchanged for Europe and slightly lower for Latin America. For Strategic Industries and Automotive it is expected to be slightly higher and for Regional Sales and Service relatively unchanged. Demand compared to the first quarter 2014 The demand for SKF’s products and services is expected to be slightly higher for the Group, for North America and Asia. It is expected to be relatively unchanged for Latin America. For Strategic Industries and Automotive it is expected to be slightly higher and for Regional Sales and Service relatively unchanged. Manufacturing Manufacturing is expected to be higher year over year and slightly higher compared to the first quarter.
© SKF Group 15 April 2014 SKF demand outlook Q2 2014, main regions Share of net sales 2013 Europe42% Asia Pacific24% North America24% Latin America7% Total Q vs Q / Slide 20 Sequential trend for Q2 2014
© SKF Group 15 April 2014 SKF demand outlook Q2 2014, main business areas Share of net sales 2013 Strategic Industries 29% Regional Sales and Service 39% Automotive27% Total Q vs Q /- + + Slide 21 Sequential trend for Q2 2014
© SKF Group 15 April 2014 SKF sequential volume trend Q2 2014, Industries Slide 22 5%Energy 14%Cars and light vehicles 11%Vehicle service market 6%Aerospace 4%Railway 2%Two-wheelers and Electrical 29%Industrial distribution 13%Industrial, heavy, special and off-highway 11%Industrial, general 5%Trucks Share of net sales 2013
© SKF Group 15 April 2014 Guidance for the second quarter 2014* Slide 23 Tax level: around 30% Financial net for the second quarter: Around SEK -230 million Currency impact on operating profit versus 2013 Q2: SEK -125 million Full year: SEK -350 million Additions to PPE: Around SEK 1.6 billion for 2014 * Guidance is approximate and based on current assumptions and exchange rates.
© SKF Group 15 April 2014 SKF’s priorities Slide 24 Sustainable profitable growth Expand the platform concept Exploit the asset life cycle approach Develop new products and grow SKF BeyondZero portfolio Extend and grow second brands Acquisitions Investments & Innovation New and existing facilities Research and development IT systems and mobility Cost reduction Business Excellence Consolidation of manufacturing Optimization and productivity improvements Reduction in purchasing costs Capital efficiency Fixed capital Net working capital
© SKF Group 15 April 2014 Cautionary statement Slide 25 This presentation contains forward-looking statements that are based on the current expectations of the management of SKF. Although management believes that the expectations reflected in such forward-looking statements are reasonable, no assurance can be given that such expectations will prove to have been correct. Accordingly, results could differ materially from those implied in the forward-looking statements as a result of, among other factors, changes in economic, market and competitive conditions, changes in the regulatory environment and other government actions, fluctuations in exchange rates and other factors mentioned in SKF's latest annual report (available on under the Administration Report; “Important factors influencing the financial results", "Financial risks" and "Sensitivity analysis”.
Q1 2008/9 Results 31 July 2008 BT Group plc. Ian Livingston – Chief Executive BT Group plc.
Marsh & McLennan Companies Results through First Quarter 2006.
ANNOUNCEMENT OF PRELIMINARY RESULTS YEAR ENDED 31 MARCH June 2006.
© SKF Group1 June 2014Slide 0 Industrial Market, Strategic Industries.
Investor Presentation September 18, Safe Harbor Historical Financial Results This presentation contains historical financial information presented.
Restoring strength, Building value QinetiQ Group plc Interim Results for half year ended 30 September 2011 Wednesday 23 November 2011.
Click to edit Master subhead text styles Click Master title style 1June 2011 Click to edit Master text styles Second level Third level Fourth level Fifth.
DIeteren May 2004 Jean-Pierre Bizet Group Executive Vice President Benoît Ghiot Group Financial Manager.
LIMITED ACCESS State Street Corporation Third-Quarter 2012 Financial Highlights October 16, 2012.
March 2009 Preliminary Results Presentation Year Ended 31 December 2008 Simon Embley, Group Chief Executive Officer Dean Fielding, Group Finance Director.
WABCO CORPORATE OVERVIEW 2010 © 2010 WABCO Holdings Inc. All rights reserved.
Name Roll No: Ashutosh Agarkar 1 Fauzia Hasan 22 Jane Nazareth 37 Ankit Patel 41 Rajitha Pillai 44 Name Roll No: Ashutosh Agarkar 1 Fauzia Hasan 22 Jane.
BT Group plc Q3 2007/8 results February 7 th 2008.
Investor Information Presentation. 2 Disclaimer The materials contained in this announcement are neither an offer to purchase nor a solicitation of an.
Brandon H. LaVerne, Chief Financial Officer January 2013.
January – December Highlights January – December 2007 Solid order bookings for CisionPoint in the US Up-sell opportunities lead to larger contracts.
Business Plan Brief summary of Executive Summary and Business Plan.
Committed to sustainable productivity The Atlas Copco Group, 2011.
CHAPTER 1 FINANCIAL STATEMENT ANALYSIS: AN INTRODUCTION.
SHAREHOLDERS PRESENTATION. page 2 Certain statements contained in this press release are forward-looking statements within the meaning of federal securities.
Goldman Sachs Global Capital Goods Conference 2005.
2003 Annual Results Paris, February 20, 2004 Building a New Electric World.
Assisting XYZ Ltd. for valuation of intangible assets relating to its acquisition of Infologistics India Pvt. Ltd. Purchase Price Allocation Report August.
Camels Rating System in the context of Islamic Banking: a proposed 's' for sharia framework Adly, Aida, Nanang, Rusli, Rina,Widodo,Vani.
PUBLIC-PRIVATE PARTNERSHIPS: IN PURSUIT OF RISK SHARING AND VALUE FOR MONEY Philippe Burger University of the Free State OECD Workshop Amman – April 2008.
Learning Objectives 14.1 Describe the importance of accounting and financial information Differentiate between managerial and financial accounting.
1 Annual Results Year ended 30 April June 2011 Preliminary Results 2011.
CREDIT QUALITY AND DEBT CREDIT ANALYSTS EXPECTATIONS 18 novembre 2005.
1 Ratios & Trend Analysis Week 7 MN Accounting ratios and ratio analysis Six key ratios Pyramid of ratios Other important ratios.
2002 RESULTS A Year of Contrasts w Good growth of cash flow from operations: 17% w Successful reduction of debt by 1.5bn w Divestments realized.
© 2016 SlidePlayer.com Inc. All rights reserved.