Ferguson Enterprises Inc. · NYSE:FERG
Ferguson Enterprises — Q1 FY2009 Earnings Presentation
7 slides from Ferguson Enterprises's earnings presentation, Nov 18, 2008
Slide 1: Interim Management Statement for the 3 months ended 31 October 2008
The name the world builds on Interim Management Statement for the 3 months ended 31 October 2008 18 November 2008 This presentation contains certain forward-looking statements. By their nature, such statements involve uncertainty; as a consequence, actual results and developments may differ from tho
Slide 2: Overview
Overview • Further expected deterioration in trading environment in Q1, particularly UK and Nordic region • Overall scale and pattern of market deterioration broadly in line with Group’s expectations in September outlook statement • Group revenue marginally up and trading profit down around 30% • Pr
Slide 3: North America
North America • Revenue marginally up and trading profit down around 15% • Results continued to be affected by ongoing US housing decline and failing consumer confidence • Ferguson performed well and continued to gain market share • Stock revenue down around 20% in US$, trading loss for 3 months end
Slide 4: Europe
Europe • European revenue marginally up and trading profit down by around 50% mainly resulting from lower level of profitability in the UK • UK revenue down around 10% and trading profit down by around 65%, trading patterns mixed across the UK • French revenue marginally up and underlying trading pr
Slide 5: Exceptional costs and benefits from restructuring actions identified between 1 August & 31 October
Exceptional costs and benefits from restructuring actions identified between 1 August & 31 October 2008 Cost £m Headcount Benefit Benefit reduction £m 2009 £m pa UK 6 170 7 8 Nordic - 170 8 10 Central and Eastern Europe 17 180 4 6 Europe 23 520 19 24 US plumbing and heating 14 1,100 20 29 US buildin
Slide 6: Exceptional costs and benefits from restructuring actions since 31 October 2008
Exceptional costs and benefits from restructuring actions since 31 October 2008 Cost £m Headcount Benefit Benefit reduction £m 2009 £m pa UK 45 2000 40 80 Nordic - 380 19 23 Europe 45 2,380 59 103 North America - - - - Total 45 2,380 59 103 The name the world builds on 6
Slide 7: Outlook
Outlook The Group expects the markets in which it operates to continue to deteriorate in the short term Action will continue to be taken to right size the Group’s businesses over the remainder of this financial year Selective actions will be pursued to reduce debt to ensure continued complianc