Slide 1: Full Year Results 2013
FULL YEAR RESULTS 2013 Full Year Results 2013
Slide 2: Agenda
AGENDA Welcome Mark Rollins CEO 2013 Results Derek Harding FD Markets & Outlook Mark Rollins CEO Full Year Results 2013
Slide 3: 2013 Results
2013 RESULTS Full Year Results 2013
Slide 4: Financial Highlights
FINANCIAL HIGHLIGHTS 2013 2012(1) Change Revenue £775.1m £729.8m +6%(2) Adjusted Operating Profit £107.6m £101.4m +6%(3) Adjusted Operating Margin 13.9% 13.9% -(4) Adjusted Profit before Tax £98.1m £91.1m +8% Adjusted Earnings per Share 19.00p 17.75p +7% Total Dividend per Share 5.12p 4.65p +10% Fre
Slide 5: Aerospace Results – constant exchange rates
AEROSPACE RESULTS – constant exchange rates(2) £m Turnover Growth 2012 to 2013 530 £m 2013 2012 Change 520 6 (13) 36 Turnover 506.6 476.2 +6.4% 510 4 507 (2) 503 Adj OP(1) 76.5 72.8 +5.1% 500 Margin 15.1% 15.3% -0.2ppts 490 Organic(3) 480 476 Turnover 502.6 476.2 +5.5% 470 Adj OP(1) 76.5 72.8 +5.1%
Slide 6: Flexonics Results – constant exchange rates
FLEXONICS RESULTS – constant exchange rates(2) £m Turnover Growth 2012 to 2013 Continuing Operations 280 £m 2013 2012 Change 270 30 269 Turnover 269.3 241.7 +11.4% 260 Adj OP(1) 40.4 36.6 +10.4% 250 242 1 (1) (3) 239 Margin 15.0% 15.1% -0.1ppts 240 230 Organic(3) 220 Turnover 239.4 241.7 -1.0% 210 A
Slide 7: Division Results – constant exchange rates
DIVISION RESULTS – constant exchange rates(2) £m Turnover £m Adj Operating Profit(1) £m Margin on Sales 2013 2012 Change 2013 2012 Change 2013 2012 Aerospace 506.6 476.2 +6.4% 76.5 72.8 +5.1% 15.1% 15.3% Flexonics 269.3 241.7 +11.4% 40.4 36.6 +10.4% 15.0% 15.1% Share of JV - - - (0.3) (0.1) - - - In
Slide 8: Geographic Results – constant exchange rates
GEOGRAPHIC RESULTS – constant exchange rates(2) £m Turnover £m Adj Operating Profit(1) £m Margin on Sales 2013 2012 Change 2013 2012 Change 2013 2012 North America 512.0 477.4 +7.2% 78.0 73.3 +6.4% 15.2% 15.4% Rest of Europe 97.3 95.8 +1.6% 8.9 9.1 -2.2% 9.1% 9.5% United Kingdom 115.4 101.6 +13.6% 2
Slide 9: Adjusted and Reported Profit
ADJUSTED AND REPORTED PROFIT 2013 2012 Change £m £m Adjusted operating profit (1) 107.6 101.4 +6% Net interest payable - borrowings and cash (8.1) (7.7) - retirement benefits (1.4) (2.6) Adjusted profit before tax (1) 98.1 91.1 +8% Tax (2013: 19.7%; 2012: 20.4%) (19.3) (18.6) Adjusted profit for the
Slide 10: Earnings per Share and Dividends
EARNINGS PER SHARE AND DIVIDENDS 2013 2012 Change Average number of shares Basic 414.7m 408.5m +6.2m Fully diluted 420.1m 418.8m +1.3m Adjusted earnings per share(1) Basic 19.00p 17.75p +7% Fully diluted 18.76p 17.31p +8% Dividends (pence per share) Interim 1.52p 1.38p +10% Final 3.60p 3.27p +10% To
Slide 11: Cash Flow and Use of Funds
CASH FLOW AND USE OF FUNDS £m 140 3.4 (19.1) 130 22.3 120 (28.8) 110 107.6 100 90 (7.7) 80 Gross capex £29.7m (7.9) Disposal proceeds £0.9m (6.0) 70 63.8 (0.8) (31.0) 60 50 40 (19.9) 30 20 12.1 10 - Adjusted Depreciation Other Non Working Net Capital Pensions in Net Interest Tax Paid Free Cash Share
Slide 12: Balance Sheet
BALANCE SHEET 2013 2012 £m £m Goodwill and other intangible assets 242.5 238.8 Investment in JV 1.0 0.8 Property, plant and equipment 142.6 134.8 Other long-term assets 7.5 13.0 Non current assets 393.6 387.4 Inventories 99.4 91.2 Receivables 113.7 100.9 Payables (129.0) (128.5) Working capital (pag
Slide 13: Working Capital
WORKING CAPITAL Balance Sheet Cash Flow Working Inventories Receivables Payables Capital £m £m £m £m 31 December 2012 (page 9) 91.2 100.9 (128.5) Movements in period: Aerospace 8.9 7.6 (5.7) (10.8) Flexonics (0.3) 1.1 4.9 (5.7) Holding companies - 0.5 2.1 (2.6) 8.6 9.2 1.3 (19.1) Acquisitions and di
Slide 14: 2013 Financial Summary
2013 FINANCIAL SUMMARY Strong set of results against a challenging economic backdrop Group operating margins maintained at 13.9% Adjusted profit before tax of £98.1m, 8% ahead of the prior year Strong cash flows resulting in a continued prudent level of net debt Good organic revenue growth of 15% in
Slide 15: Markets & Outlook
MARKETS & OUTLOOK Full Year Results 2013
Slide 16: Senior's Markets – 2013
SENIOR’S MARKETS – 2013 35% Flexonics Division Aerospace Division 65% (34%) Other Industrial 3% 1% Aerospace (66%) Heating, Ventilation & Solar 2% (4%) (-%) Petrochemical 3% (2%) (4%) Power & Energy 7% (6%) 36% Large Commercial Aircraft (33%) Passenger Vehicles 7% (8%) Truck & Off-Highway 12% (10%)
Slide 17: Senior's Customers – 2013
SENIOR’S CUSTOMERS – 2013 35% Flexonics Division Aerospace Division 65% (34%) (66%) Other Industrial & Aerospace 14% 11% Rolls-Royce (15% ) (10%) Bloom Energy 2% all 1% of (1%) Group or less 11% Boeing Other Land Vehicle 6% (10%) (5%) Renault 1% (1%) PSA 1% (2%) 6% Spirit Ford 2% (6%) (2%) Caterpill
Slide 18: Large Commercial Aircraft (36% of Group)
LARGE COMMERCIAL AIRCRAFT (36% of Group) Shipset Value ($k) Avg.(1) 2013 Order Deliveries x Avg.(1)Shipset Value ($m ) Var. in avg. shipset deliveries book shipset value 0 200 400 600 800 1000 1200 0 10 20 30 40 50 60 70 80 90 100 12/12 to 12/13 value ($k) (number) ($k) 737 213 440 1,917 -11 737 A31
Slide 19: Shipset Value Progression – Large Commercial Aircraft
(1) SHIPSET VALUE PROGRESSION – LARGE COMMERCIAL AIRCRAFT $k % CAGR 900 +3% 800 700 600 +11% 500 +8% +3% +26% 400 300 +7% 200 +3% 100 0 737 777 787 A320 A330 A380 A350 Dec-06 Dec-07 Dec-08 Dec-09 Dec-10 Dec-11 Dec-12 Dec-13 (1) Average based on programme share and estimated engine variant Full Year
Slide 20: Regional and Business Jets (8% of Group)
REGIONAL AND BUSINESS JETS (8% of Group) Shipset Value ($k) Deliveries x Shipset Value ($m) Var. in avg. Shipset 2013 Order shipset value 0 100 200 300 400 500 600 value ($k) deliveries book 0 2 4 6 8 10 12 14 16 18 12/12 to 12/13 ($k) GL 5000/6000 Bombardier 267 62 ? +1 GL 5000/6000 G500/550 Gulfst
Slide 21: Military and Defence (14% of Group)
MILITARY AND DEFENCE (14% of Group) Shipset Value ($k) Avg.(1) Estimated shipset 2013 Estim ated Deliveries x Avg.(1) Shipset Value ($m) Var. in avg. value deliveries shipset value 0 200 400 600 800 1000 0 2 4 6 8 10 12 14 16 18 20 22 24 26 28 12/12 to 12/13 ($k) (number) ($k) Black Haw k 150 172 -2
Slide 22: Shipset Value Progression – Regional, Business and Military
(1) SHIPSET VALUE PROGRESSION – Regional, Business and Military $k % CAGR 1000 +24% 900 800 700 +12% 600 +11% 500 400 Sikorsky +19% +6% insourcing 300 +6% +9% 200 100 0 G5000/6000 CSeries MRJ Black Hawk C-130J JSF (F-35) A400M Dec-06 Dec-07 Dec-08 Dec-09 Dec-10 Dec-11 Dec-12 Dec-13 (1) Average based
Slide 23: Land Vehicles (19% of Group)
LAND VEHICLES (19% of Group) Truck & Off-Highway Vehicles (12% of Group) 2013 market(1) compared to 2012: Group sales 37%(2) from 2012; organic basis 2%(3) N. American truck sales 1%; production 3% N. America (10% of Group) Group organic sales 4%(3) ; higher HP rails but lower cooler volumes and low
Slide 24: Industrial (15% of Group)
INDUSTRIAL (15% of Group) 2013 Industrial sales split Group Organic Sales 3%(1) over 2012 Power & Energy: 11%(1) £5m; fuel cell dielectrics Other 15% Petrochemical: 29%(1) £9m; non repeat of 2012 large (13%) Tianjin project 43% Power & Boiler (38%) Nuclear 2% HVAC: 8%(1) £1m; German domestic market
Slide 25: Acquisition Framework
ACQUISITION FRAMEWORK More Likely Less Likely Fluid Systems Structures New Markets Division Flexonics Large Commercial Biz Jet Rotorcraft Reg Jet VLJ Market Energy Renewables Nuclear Truck Defence Automotive various General Industrial Medical Semi-conductor Aero Ducting Structural Composites Control
Slide 26: Aerospace – Thermal Acquisition
AEROSPACE – THERMAL ACQUISITION Thermal Engineering, (based in Royston, Hertfordshire) manufactures hot and cold formed components, complex fabricated assemblies and thermal insulation heat shields and systems for the aerospace market. Thermal operates out of a 70,000 sq ft facility and has 250 empl
Slide 27: Site Expansion & Consolidation
SITE EXPANSION & CONSOLIDATION SSP Additional 59,000 sq ft building to be built & leased near the existing facility to support growth, principally for the A320neo China JV Commenced common rail production at end of 2013; flexible exhaust connector Illinois production expected to Bartlett commence mi
Slide 28: Group 2014 Outlook
GROUP 2014 OUTLOOK Large Commercial Aerospace: Healthy: underlying strength, 737 & 787 build rates continue to rise. Engineering activity on A320neo and 737 MAX ongoing. A350 entry into service expected before end of the year. Thailand ramping up 787 production and building new facility. Price press
Slide 29: Currency Effect
CURRENCY EFFECT Translation Impact on 2013(1) (£m) Avg. At 28th Adjusted 2013 Rates to GBP Feb 14 Revenue PBT(2) 1.57 US $ 1.67 (29.9) (3.9) 1.18 Euro € 1.21 (2.1) (0.1) 15.14 South African Rand 17.91 (2.7) (0.9) 48.44 Thai Baht 54.52 (2.1) (0.3) 3.41 Brazilian Real 3.90 (1.6) (0.2) 1.62 Canadian $
Slide 30: Group Longer-Term Outlook
GROUP LONGER-TERM OUTLOOK Large Commercial Aerospace: 787 ($782k per s/s): 10 pm (2014), 12 pm (2016), 14 pm (2019)? A350 ($381k per s/s): 3 pm (2015), 6 pm (2016), 13 pm (2018)? A320neo & 737 MAX (higher s/s & rates?) launch in 2015 & 2017. Thailand expansion effective mid 2015 when R-R XWB/T1000 l
Slide 31: Any Questions?
ANY QUESTIONS? Full Year Results 2013
Slide 32: Appendices
APPENDICES Full Year Results 2013
Slide 33: Group Evolution
GROUP EVOLUTION Revenue (£m) Adjusted Operating Profit (£m) Adjusted Operating Margin (%) 900 120 18 110 Total after central costs 800 Total after central costs 16 100 700 14 90 600 80 12 500 70 10 60 400 8 50 300 40 6 200 30 4 20 100 2 10 0 0 0 2009 2010 2011 2012 2013 2009 2010 2011 2012 2013 2009
Slide 34: Exchange Rates
EXCHANGE RATES Profit and Loss Account Balance Sheet Average Rates Period End Rates 2013 2012 Change 2013 2012 Change £ : US Dollar 1.57 1.59 +1.3% 1.66 1.63 -1.8% £ : Euro 1.18 1.23 +4.2% 1.20 1.23 +2.5% £ : Rand 15.14 12.99 -14.2% 17.35 13.79 -20.5% Euro : Rand 12.83 10.56 -17.7% 14.46 11.21 -22.5
Slide 35: Division Results – As Reported
DIVISION RESULTS – AS REPORTED £m Turnover £m Adj Operating Profit(1) £m Margin on Sales 2013 2012 Currency 2013 2012 Currency 2013 2012 Impact(2) Impact(2) Aerospace 506.6 470.5 5.7 76.5 72.1 0.7 15.1% 15.3% Flexonics 269.3 242.0 (0.3) 40.4 37.3 (0.7) 15.0% 15.4% Share of JV - - - (0.3) (0.1) - - -
Slide 36: Geographic Results – As Reported
GEOGRAPHIC RESULTS – AS REPORTED £m Turnover £m Adj Operating Profit(1) £m Margin on Sales 2013 2012 Currency 2013 2012 Currency 2013 2012 Impact(2) Impact(2) North America 512.0 471.7 5.7 78.0 72.4 0.9 15.2% 15.3% Rest of Europe 97.3 92.2 3.6 8.9 8.9 0.2 9.1% 9.7% United Kingdom 115.4 101.6 - 20.7
Slide 37: Division Results – Half Yearly
DIVISION RESULTS – HALF YEARLY Turnover Adjusted Operating Profit H2 2013 H1 2013 H2 2012 H1 2012 H2 2013 H1 2013 H2 2012 H1 2012 Aerospace 252.4 254.2 228.0 242.5 39.7 36.8 35.6 36.5 Flexonics 123.7 145.6 118.8 123.2 19.8 20.6 19.4 17.9 Inter-segment sales (0.3) (0.5) (0.3) (0.2) - - - - Share of J
Slide 38: Aerospace – Atlas Composites Ltd Acquisition
AEROSPACE – Atlas Composites Ltd ACQUISITION Atlas Composites Ltd, (based in Ilkeston, Derbyshire) designs and manufactures composite structures, components and tooling for aerospace (25%), motor sport (29%), defence (18%), satellite communications (25%) and sports (3%) markets. Example products 201
Slide 39: Free Cash Flow
FREE CASH FLOW 2013 2012 £m £m Operating profit from continuing ops. 93.3 93.7 Operating profit from discontinued ops. - 0.8 Share of JV loss 0.3 0.1 Depreciation 21.6 20.1 Amortisation of intangible assets 4.9 5.0 Goodwill impairment & reversal of contingent consideration payable 8.9 - Restructurin
Slide 40: Change in Net Debt
CHANGE IN NET DEBT 2013 2012 £m £m Free cash flow (page 33) 63.8 57.6 Dividends (19.9) (16.4) Acquisitions and JV (31.0) (29.0) (1) Disposals - 4.5 Share issues 0.1 2.3 Purchase of shares by employee benefit trust (0.9) (1.0) Net cash inflow 12.1 18.0 Exchange variations (0.2) 4.1 Finance leases ass
Slide 41: Gross Capital Expenditure
GROSS CAPITAL EXPENDITURE 2013 2012 Capex Depn (1) Capex Depn (1) £m £m £m £m Aerospace 21.7 14.0 16.4 13.5 Flexonics 7.8 8.1 9.4 7.0 Holding Companies 0.2 0.2 0.2 0.1 Discontinued Ops. - - 0.1 0.2 Total 29.7 22.3 26.1 20.8 (1) Depreciation excludes amortisation of intangible assets arising on acqui
Slide 42: Usage of Credit Facilities – December 2013
USAGE OF CREDIT FACILITIES – December 2013 Usage by Currency Interest Facility Usage £ $ € Other % £m £m Private placements: US $20.0m (Oct 2020) 6.94% 12.0 12.0 - 12.0 - - US $75.0m (Oct 2018) 6.84% 45.2 45.2 - 45.2 - - US $30.0m (Jan 2017) 5.85% 18.1 18.1 - 18.1 - - US $25.0m (Oct 2015) 6.42% 15.1
Slide 43: Maturity Profile of Credit Facilities
MATURITY PROFILE OF CREDIT FACILITIES £m 220 200 £124m headroom 180 Oct 160 May Oct 140 120 Oct 100 Net debt 80 Dec 13 - £59.2m Jan 60 40 Oct 20 Oct 0 2013 2014 2015 2016 2017 2018 2019 2020 Committed facilities: Fixed rate Floating rate Full Year Results 2013 Page 37
Slide 44: Covenants
COVENANTS Dec 2013 June 2013 Dec 2012 June 2012 Net Debt £59.2m £65.5m £70.9m £74.8m Net interest (1) - rolling 12 months £8.4m £8.2m £7.8m £8.0m EBITDA (1) - rolling 12 months £129.7m £124.9m £122.7m £115.3m Interest cover (to exceed 3.5 times) 15.4 x 15.2 x 15.7 x 14.4 x Net Debt to EBITDA (not to
Slide 45: Pensions – Deficit Movement
PENSIONS – DEFICIT MOVEMENT 12 Months 2013 2012 UK USA Various Total Total Funded Funded Unfunded £m £m £m £m £m IAS19 Scheme deficit at 31 Dec 2012 (23.3) (8.4) (5.4) (37.1) (34.5) Service cost (1.0) (0.7) (0.3) (2.0) (1.9) Running costs – revised IAS 19 (0.8) - - (0.8) na Curtailment gain/ (charge
Slide 46: Pensions – UK Plan Funding
PENSIONS – UK PLAN FUNDING Actuarial Valuations Last valuation 5 April 2013 UK Plan to close to future Scheme assets/(liabilities) at valuation £226.3m / (£275.3m) accrual from April 2014 Funding level 82% IAS 19 Valuations Dec 2013 Jun 2013 Dec 2012 £m £m £m Scheme Assets Equities 72.4 64.5 58.7 Bo
Slide 47: Senior's Locations
SENIOR’S LOCATIONS UK Rickmansworth H.O 2013 split Sales OP Massachusetts Crumlin Metal Bellows N. America 66% 67% BWT (incl. Atlas) Canada Bird Bellows UK 15% 18% SF Canada Thermal Weston EU Rest of Europe 12% 7% Wisconsin Rest of World 7% 8% GA Germany Washington SF GmbH AMT Czech Republic Absolut
Slide 48: Senior's Products – 2013
SENIOR’S PRODUCTS – 2013 35% Flexonics Division Aerospace Division 65% (34%) Aerospace products 1% (66%) (-%) Expansion joints, bellows, hoses (Ind) 13% 19% Engine structures (14%) (19%) and mountings HVAC ducting (Ind) 2% (2%) Off-highway hydraulics (LV) 1% (-%) Fuel distribution (LV) 5% (3%) Exhau
Slide 49: Aerospace Division
AEROSPACE DIVISION Full Year Results 2013
Slide 50: Aerospace – Orders and Deliveries
AEROSPACE – ORDERS AND DELIVERIES Deliveries Net Orders Order Book Large Commercial Dec Dec Dec Dec Aircraft 2013 2012 2011 2010 2013 2012 2011 2010 2013 2012 2011 2010 Boeing 648 601 477 462 1,355 1,203 805 530 5,080 4,373 3,771 3,443 Airbus 626 588 534 510 1,503 833 1,419 574 5,559 4,682 4,437 3,5
Slide 51: Aerospace – Large Commercial Aircraft Backlog
AEROSPACE – LARGE COMMERCIAL AIRCRAFT BACKLOG Boeing backlog by region: Dec 2013 Airbus backlog by region: Dec 2013 Australasia Exec. & Private Jets 2% & Undisclosed 4% 2% Australasia Undisclosed 14% 13% Asia ex-India, China North America 20% Asia ex-India, 4% China China 25% 2% India 8% Middle East
Slide 52: Aerospace Division: A Summary
AEROSPACE DIVISION: A SUMMARY 2013 2012(2) Change 19 Operations Revenue £506.6m £476.2m +6.4% NAFTA 11 Europe 3 Adjusted Operating Profit(1) £76.5m £72.8m +5.1% UK 4 Adjusted Operating Margin(1) 15.1% 15.3% -0.2ppts ROW 1 Markets Customers 9% Other Non Aerospace Other Non Space & Non Military Aerosp
Slide 53: Aerospace – Operations
AEROSPACE – OPERATIONS Operation Location Senior Aerospace AMT Seattle, USA Senior Aerospace SSP Los Angeles, USA Senior Aerospace Weston EU Colne, UK Senior Aerospace Ketema San Diego, USA Senior Aerospace Jet Products San Diego, USA Senior Aerospace Metal Bellows Boston, USA Senior Aerospace BWT (
Slide 54: Aerospace – Strategy
AEROSPACE – STRATEGY Sector Strategic Objectives Fluid Conveyance Systems Continue to develop products for new platforms Low Pressure Ducting Fluid Systems Further develop strategic customer relationships High Pressure Ducting Successful execution of new development programmes Aerospace Control Prod
Slide 55: Fluid Conveyance: Low Pressure Ducting
Fluid Conveyance: Low Pressure Ducting Engineered Composite Duct Assembly Low Pressure Ducting Typical Rotorcraft Assembly Ducting Layout Various Composite Duct Products Typical Business Jet Composite Wall Panels Ducting Layout Main Operations: BWT, Composites, Atlas Main Customers: Bombardier, Cess
Slide 56: Fluid Conveyance: High Pressure Ducting
Fluid Conveyance: High Pressure Ducting HP Bleed Air Duct Engineered Solutions Typical Bizjet Engine Bleed Ducting HP Bleed Air Duct Typical Wing Duct Products Bombardier CSeries High Pressure Ducting Layout Main Operations: SSP, Bird Bellows, Calorstat Main Customers: Airbus, Boeing, Bombardier, Lo
Slide 57: Fluid Conveyance: Aerospace Control Products
Fluid Conveyance: Aerospace Control Products Hydraulic System Couplings Control Actuators Hydraulic Bellows Accumulators Pressure/Temp Sensors Hydraulic Control Manifold Compressor Assembly Main Operations: Metal Bellows, Calorstat, Bird Bellows, Ermeto Main Customers: Airbus, Boeing, Lockheed Marti
Slide 58: Fluid Conveyance: Non-Aerospace Control Products
Fluid Conveyance: Non-Aerospace Control Products Pin Lift Actuator Bellows Assembly (Semi-Conductor) (Nuclear industry) Process Control Valves Drug Pump Implant (Chemical process) (Medical) Main Operations: Calorstat, Metal Bellows, Ermeto, Bird Bellows Main Customers: AECL Nuclear, Volvo, LAM Indus
Slide 59: Gas Turbine Engines: Fluid Systems
Gas Turbine Engines: Fluid Systems Hydraulic/Fuel Feed Manifolds Active Clearance Control System Engine Bleed Ducting Bellows Face Seal Static Seal Main Operations: Bosman, Ermeto, Metal Bellows, Bird Bellows, SSP, Thermal Main Customers: Rolls-Royce, Snecma, MTU, Pratt & Whitney Full Year Results 2
Slide 60: Gas Turbine Engine: Engine Components
Gas Turbine Engine: Engine Components 307 Combustion Silencer TFE 731 Lear Case (Dassault 7X) Typical Gas Turbine Jet/Hawker Front Aero-engine F-35 Front Strutted Frame Case Trent 1000 Engine Casing Trent 1000 Combustor Aerofoil for gas TFE 731 Learjet/Hawker (B787) Case (B787) turbine engine Bearin
Slide 61: Structures: Airframe
Structures: Airframe 747 Frame 737 Main Landing Gear 787 Aft Engine Support Assy. Wheel Well Pylon 747-8 Fuselage 787 Vertical Fin component 737 Boeing Wing Ribs Main Operations: AMT, Absolute, Damar, Mexico, Weston Main Customers: Boeing, Spirit, Goodrich (UTC) Full Year Results 2013 Page 50/1
Slide 62: Structures: Assemblies
Structures: Assemblies 737 Air Inlet (2ea) 737 Wing to Body Ram Air 767 Engine Pylon Frame (Birdcage) 787 Wing to Body Frame Premium Seat Chassis Main Operations: AMT, Weston Main Customers: Boeing, Spirit, Contour (Zodiac) Full Year Results 2013 Page 50/2
Slide 63: Structures: Nacelles
Structures: Nacelles B777 Engine Nacelle Housing 777 Load Share Ring GE 90 Inlet Attach Rings (B777) CF34-10 Torque Box Ring, 737 Cascade (Embraer 190) Support Ring Thrust Reverser Detail Main Operations: Jet, Ketema, Thermal Main Customers: Boeing, Goodrich, Spirit, Middle River (GE) Full Year Resu
Slide 64: Structures: Helicopter Transmissions
Structures: Helicopter Transmissions Sikorsky UH60 Blackhawk Sikorsky S-92 Rotorcraft UH60 Blackhawk Housing Assy. Blackhawk Gear Housing Assy. S-92 Swash Plate Guide S-92 Carrier Assy. Blackhawk Carrier Assy. Blackhawk Spindle Main Operations: S A Connecticut Main Customers: Sikorsky, Rolls-Royce F
Slide 65: Flexonics Division
FLEXONICS DIVISION Full Year Results 2013
Slide 66: Flexonics Division: A Summary
FLEXONICS DIVISION: A SUMMARY 2013 2012(2) Change 12 Operations NAFTA 4 Revenue £269.3m £241.7m +11.4% Europe 3 Adjusted Operating Profit(1) £40.4m £36.6m +10.4% UK 1 ROW 3 Adjusted Operating Margin(1) 15.0% 15.1% -0.1ppts China JV 1 Markets Customers Aerospace 2% Woodward 2% Other Industrial 10% Cu
Slide 67: Flexonics – Operations
FLEXONICS – OPERATIONS Operation Location Senior Flexonics Bartlett Chicago, USA & Saltillo, Mexico Senior Flexonics Pathway San Antonio & Maine, USA Senior Flexonics GA Wisconsin, USA Senior Flexonics Germany Germany Senior Flexonics Cape Town South Africa Senior Flexonics Blois France Senior Flexo
Slide 68: Flexonics – Strategy
FLEXONICS – STRATEGY Sector Strategic Objectives Land Vehicle Emission Control Develop product portfolio as emission regulation thresholds increase globally Heat Exchangers Exhaust Flexes Build programmes with new truck and off-highway customers Common Rail Diesel Invest further in emerging market f
Slide 69: Land Vehicle Emission Control
Land Vehicle Emission Control Common Rails Tubes Turbo-oil feed and drain High Pressure Fuel Lines Exhaust Bellows EGR Coolers/Heat Diesel fuel injector components Exchangers Main Operations: Bartlett, GA, Germany, Blois, Cape Town, Sao Paulo, New Delhi Main Customers: Cummins, Perkins, CAT, MAN, Sc
Slide 70: Industrial Process Control (1)
Industrial Process Control (1) Metal Expansion Joints Fabric Expansion Joints Refineries Power Steel Mills Generation Metal Expansion Joints Dampers/Diverters Main Operations: Pathway, WahlcoMetroflex Main Customers: US domestic operators (400+), Constructors (Global), Engineering specifiers Full Ye
Slide 71: Industrial Process Control (2)
Industrial Process Control (2) Vacuum Seal Bellows Flexible Tubes & Hoses CSP - Solar Troughs RotationFlex ® Instrument Control Medical Heat Fuel Cells – Dielectric Bellows Exchangers for fuel delivery Main Operations: Bartlett, Canada, Germany, Crumlin Main Customers: Medtronics, Valliant, Schott,
Slide 72: Index
INDEX Presentation Appendices Financial highlights 1 Group evolution 27 Aerospace results - constant exchange rates 2 Exchange rates 28 Flexonics results - constant exchange rates 3 Division results - as reported 29 Division results - constant exchange rates 4 Geographic results - as reported 30 Geo