Slide 1: Interim Results 2011
INTERIM RESULTS 2011 Interim Results 2011
Slide 2: Agenda
AGENDA Introduction Martin Clark Chairman “Senior has performed strongly in the first half of 2011, with adjusted profit before tax increasing by 17% to £38 million. Improved product mix and operational execution resulted in record margins of 13.6% and superior cash generation continues to provide S
Slide 3: Interim Results 2011
2011 INTERIM RESULTS Interim Results 2011
Slide 4: Financial Highlights
FINANCIAL HIGHLIGHTS H1 2011 H1 2010 Change Revenue £315.6m £287.7m +10% (+12% at CER(1)) Adjusted Operating Profit £43.0m £37.7m +14% (+17% at CER(1)) Adjusted Operating Margin 13.6% 13.1% +0.5ppts Adjusted Profit before Tax £38.0m £32.5m +17% Adjusted Earnings per Share 7.00p 5.94p +18% Interim Di
Slide 5: Aerospace Results – constant exchange rates
AEROSPACE RESULTS – constant exchange rates (2) Turnover £m Adj Operating Profit(1) £m Margin on Sales 2011 2010 Change 2011 2010 Change 2011 2010 187.9 164.1 +14.5% 29.6 24.4 +21.3% 15.8% 14.9% Increased build rates on large commercial aerospace programmes • Boeing 777, 787; Airbus A330, A380 Conti
Slide 6: Flexonics Results – constant exchange rates
FLEXONICS RESULTS – constant exchange rates (1) Turnover £m Adj Operating Profit £m Margin on Sales 2011 2010 Change 2011 2010 Change 2011 2010 127.8 117.5 +8.8% 17.0 15.3 +11.1% 13.3% 13.0% Increased sales of land vehicles in majority of key markets • healthy increases in North America and Europe m
Slide 7: Division Results – constant exchange rates
DIVISION RESULTS – constant exchange rates (2) £m Turnover Adj Operating Profit (1) Margin on Sales 2011 2010 Change 2011 2010 Change 2011 2010 Aerospace 187.9 164.1 +14.5% 29.6 24.4 +21.3% 15.8% 14.9% Flexonics 127.8 117.5 +8.8% 17.0 15.3 +11.1% 13.3% 13.0% Inter-Segment sales (0.1) (0.2) - - - - -
Slide 8: Geographic Results – constant exchange rates
GEOGRAPHIC RESULTS – constant exchange rates (2) £m Turnover by Origin Adj Operating Profit (1) Margin on Sales 2011 2010 Change 2011 2010 Change 2011 2010 North America 207.8 178.7 +16.3% 31.7 26.6 +19.2% 15.3% 14.9% Rest of Europe 52.7 52.5 - 3.6 1.4 +157.1% 6.8% 2.7% United Kingdom 32.1 29.4 +9.2
Slide 9: Adjusted and Reported Profit
ADJUSTED AND REPORTED PROFIT H1 H1 2011 2010 Change £m £m Adjusted operating profit (1) 43.0 37.7 +14% Net interest payable - borrowings and cash (3.8) (4.1) - retirement benefits (1.2) (1.1) Adjusted profit before tax (1) 38.0 32.5 +17% Tax (2011: 26.0%; 2010: 27.1%) (9.9) (8.8) Adjusted profit for
Slide 10: Earnings per Share and Dividends
EARNINGS PER SHARE AND DIVIDENDS H1 H1 2011 2010 Change Average number of shares Basic 401.7m 399.0m +2.7m Fully diluted 416.0m 412.5m +3.5m Adjusted earnings per share(1) Basic 7.00p 5.94p +18% Fully diluted 6.75p 5.75p +17% Dividends (pence per share) Interim 1.15p 1.00p (32%) +15% Final 2.12p (68
Slide 11: Free Cash Flow Bridge
FREE CASH FLOW BRIDGE £m Adj OP(1) Free Cash 60 Flow 9.2 (3.5) 50 Flexonics (1.5) (17.6) Aerospace 43.0 1.2 (3.8) 10.2 40 (5.3) (8.7) 30 Flexonics Aerospace 23.2 20 10 - Adjusted Depreciation Pensions in Inventory Receivables Payables Other Non Net Interest Tax paid Net Capital Free Cash Operating &
Slide 12: Change in Net Debt
CHANGE IN NET DEBT H1 H1 FY 2011 2010 2010 £m £m £m Free cash flow 23.2 27.6 58.8 Dividends (8.5) (6.8) (10.8) Acquisitions (15.3) - (8.3) Sale of shares held by employee benefit trust - - 1.4 Share issues - 0.1 0.3 Net cash inflow (0.6) 20.9 41.4 Exchange variations 1.4 (6.0) (2.8) Net debt - openi
Slide 13: Balance Sheet
BALANCE SHEET June June Dec 2011 2010 2010 £m £m £m Goodwill and other intangible assets 183.1 185.9 176.6 Property, plant and equipment 115.6 116.2 114.0 Other long-term assets 1.1 0.8 1.6 Non current assets 299.8 302.9 292.2 Inventories 78.1 70.8 75.1 Receivables and construction contracts 99.4 87
Slide 14: Working Capital
WORKING CAPITAL Balance Sheet Cash Flow Receivables Working Inventories (and construction Payables contracts) Capital £m £m £m £m 31 December 2010 (page 10) 75.1 80.7 (110.5) Movements in period: Aerospace 2.3 12.5 (4.0) (10.8) Flexonics (0.8) 5.3 (5.6) 1.1 Holding companies - (0.2) (0.6) 0.8 Cash f
Slide 15: Markets & Outlook
MARKETS & OUTLOOK Interim Results 2011
Slide 16: Senior's Markets – H1 2011
SENIOR’S MARKETS – H1 2011 40% Flexonics Division Aerospace Division 60% Other Industrial 4% (41%) (4% ) (59%) Petrochemical 4% (4%) Heating, Ventilation & Solar 5% (6%) 24% Large Commercial Aircraft (23%) Power & Energy 6% (5%) Truck 8% (6%) Passenger Vehicles 13% (16%) 18% Military/Defence Aerospa
Slide 17: Large Commercial Aircraft (24% of Group)
LARGE COMMERCIAL AIRCRAFT (24% of Group) Shipset Value ($k) Avg.(1) H1 11 Order H1 Deliveries x Avg.(1) Shipset Value ($m ) shipset deliveries book Outlook 0 200 400 600 800 1000 1200 0 10 20 30 40 50 2012/13 value ($k) (number) 737 238 181 2,109 737 A318/9/20/21 71 202 2,834 A318/19/20/21 777 392 3
Slide 18: Large Commercial Aircraft (24% of Group)
LARGE COMMERCIAL AIRCRAFT (24% of Group) Average Monthly Aircraft Deliveries 1.5 60 120 3.5 7.3 55 +41% 9.9 50 100 45 42.0 33.4 40 80 35 30 60 2.0 10.0 6.2 25 8.0 20 40 15 31.3 10 20 37.0 5 0 0 2010 2010 2011 2012 2013 2013 737 777 787 747-8 A320 A330 A380 Combined (RHS) Source: Boeing & Airbus Boei
Slide 19: A320neo
A320neo Airbus decision to re-engine A320 from 2015 has been popular with customers: – over 1,300 orders and commitments since December 2010 launch This decision offers opportunities for Senior to increase its shipset value: Current Average shipset value(1) – $71k Airframe: Titanium housings, bleed
Slide 20: Regional and Business Jets (8% of Group)
REGIONAL AND BUSINESS JETS (8% of Group) Shipset Value ($k) H1 Deliveries x Shipset Value ($m ) H1 11 Order Outlook 0 50 100 150 200 250 300 350 400 deliveries book 0 1 2 3 4 5 6 7 2012/13 G500/550 Gulfstream 29 (1) ? G500/550 (1) GL 5000/XRS GL 5000/XRS Bombardier 18 ? CRJ 700/900 Bombardier 18 29
Slide 21: Regional and Business Jets (8% of Group)
REGIONAL AND BUSINESS JETS (8% of Group) Average Monthly Aircraft Deliveries 10 25 +35% 4.1 9 6.4 8 20 7 4.2 3.8 6 15 0.2 0.3 5 1.3 1.2 2.6 4 10 2.7 3 2 5 7.7 6.3 1 0 0 2010 2010 2011 2012 2013 2013 ERJ 190/195 CRJ 700/900 CRJ 1000 SuperJet CSeries G500/550/650 GL 5000/XRS Combined (RHS) Business Je
Slide 22: Military and Defence (18% of Group)
MILITARY AND DEFENCE (18% of Group) Shipset Value ($k) Avg.(1) Estimated shipset H1 11 Estim ated H1 Deliveries x Avg.(1) Shipset Value ($m ) value deliveries Outlook 0 200 400 600 800 1000 0 5 10 15 20 25 2012/13 ($k) (number) Black Haw k 198 115 Black Hawk C-130J 854 13 C-130J V-22 (Osprey) 178 18
Slide 23: Military and Defence (18% of Group)
MILITARY AND DEFENCE (18% of Group) Average Monthly Aircraft Deliveries 28 35 2.4 3.9 24 30 4.3 +7% 3.4 1.2 20 25 2.1 5.3 16 20 0.8 2.5 12 15 17.5 8 10 13.3 4 5 0 0 2010 2010 2011 2012 2013 2013 Black Hawk C-130J C17 Eurofighter V-22 (Osprey) JSF (F35) Combined (RHS) Source: Teal Group and internal
Slide 24: Land Vehicles (21% of Group)
LAND VEHICLES (21% of Group) Passenger Vehicles (13% of Group) European Car Production(1) (9% of Group) (rolling 12 month million vehicles) EU car sales 2%; Q1 production 5% 18 16 NA car/SUV sales 11%; production 9% 14 Brazil car sales 7%; production 6% 12 India car sales 16%; production 21% 10 Q1 Q
Slide 25: Land Vehicles (21% of Group)
LAND VEHICLES (21% of Group) Vehicle Production(1) Forecast (million vehicles) H1 European sales down at PSA ( 7%), 25 Renault ( 11%), Ford ( 7%) Near term outlook remains challenging for Senior’s +10% 20 European customers 15 Brazil (2% of Group) and India (1%) continue to grow at healthy rate 10 F
Slide 26: Industrial (19% of Group)
INDUSTRIAL (19% of Group) Group Sales 9% over H1 2010 H1 2011 Industrial sales split Power & Boiler: Relatively stable markets but benefited from inclusion of WahlcoMetroflex Other 12% (14%) Petrochemical: Improved oil sands and on-site activity but Other Renewable 1% (1%) 29% Power & Boiler weaker
Slide 27: Acquisition Framework
ACQUISITION FRAMEWORK More Likely Less Likely Fluid Systems Structures New Markets Division Flexonics Large Commercial Rotorcraft Regional Jet Business Jet VLJ Defence Renewables Nuclear Energy Truck Automotive Market General Industrial Medical Semi-conductor Aero Ducting Control Bellows Simple Comp
Slide 28: Group Outlook
GROUP OUTLOOK Large Commercial Aerospace: Visible future, growing fast from strong base Business and Regional Jets: Gradual increase from current weak level Military and Defence: Solid outlook due to strategic importance of main programmes Land Vehicles: European passenger vehicle markets remain cha
Slide 29: Any Questions?
ANY QUESTIONS? Interim Results 2011
Slide 30: Appendices
APPENDICES Interim Results 2011
Slide 31: Group Evolution
GROUP EVOLUTION Revenue (£m) Adjusted Operating Profit (£m) Adjusted Operating Margin (%) 700 90 18 Total after central costs 80 Total after central 16 600 costs 70 14 500 60 12 400 50 10 300 40 8 30 6 200 20 4 100 10 2 0 0 0 2007 2008 2009 2010 H1 2011 2007 2008 2009 2010 H1 2011 2007 2008 2009 201
Slide 32: Exchange Rates
EXCHANGE RATES Profit and Loss Account Balance Sheet Average Rates Period End Rates June June Dec June June Dec 2011 2010 Change 2010 2011 2010 Change 2010 £ : US Dollar 1.61 1.54 -4.3% 1.55 1.60 1.52 -5.0% 1.57 £ : Euro 1.14 1.15 +0.9% 1.16 1.11 1.21 +9.0% 1.17 £ : Rand 11.00 11.53 +4.8% 11.32 10.8
Slide 33: Division Results – As Reported
DIVISION RESULTS – AS REPORTED £m Turnover Adj Operating Profit (1) Margin on Sales 2011 2010 Currency 2011 2010 Currency 2011 2010 Impact(2) Impact(2) Aerospace 187.9 169.9 (5.8) 29.6 25.3 (0.9) 15.8% 14.9% Flexonics 127.8 118.0 (0.5) 17.0 15.2 0.1 13.3% 12.9% Inter-Segment sales (0.1) (0.2) - - -
Slide 34: Geographic Results – As Reported
GEOGRAPHIC RESULTS – AS REPORTED £m Turnover by Origin Adj Operating Profit (1) Margin on Sales 2011 2010 Currency 2011 2010 Currency 2011 2010 Impact(2) Impact(2) North America 207.8 186.5 (7.8) 31.7 27.8 (1.2) 15.3% 14.9% Rest of Europe 52.7 51.8 0.7 3.6 1.3 0.1 6.8% 2.5% United Kingdom 32.1 29.4
Slide 35: Division Results – Half Yearly
DIVISION RESULTS – HALF YEARLY Turnover Adjusted Operating Profit H1 2011 H2 2010 H1 2010 H2 2009 H1 2011 H2 2010 H1 2010 H2 2009 Aerospace 187.9 163.9 169.9 150.0 29.6 24.7 25.3 16.8 Flexonics 127.8 115.5 118.0 114.3 17.0 16.4 15.2 16.6 Inter-segment sales (0.1) (0.2) (0.2) (0.1) - - - - Central co
Slide 36: Aerospace – Damar Acquisition (25 March 2011)
AEROSPACE – DAMAR ACQUISITION (25 March 2011) Damar (located in Washington State, USA) is a manufacturer and integrator of precision machined parts and assemblies for the commercial aerospace industry. It specialises principally in air beams, wing skins, stow bin parts, interior decorative assemblie
Slide 37: Free Cash Flow
FREE CASH FLOW H1 H1 FY 2011 2010 2010 £m £m £m Operating profit 40.6 35.4 62.2 Depreciation 8.9 9.6 19.4 Amortisation of intangible assets 2.6 2.6 5.2 Charge for share-based plans 1.5 0.8 1.4 Profit on disposal of fixed assets - - (0.2) Goodwill impairment - - 8.7 Pension payments above service cos
Slide 38: Gross Capital Expenditure
GROSS CAPITAL EXPENDITURE H1 2011 H1 2010 Capex Depn (1) Capex Depn (1) £m £m £m £m Aerospace 5.5 5.5 3.8 5.6 Flexonics 3.4 3.7 1.8 4.3 Holding Companies 0.2 - - - Total 9.1 9.2 5.6 9.9 (1) Depreciation excludes amortisation of intangible assets arising on acquisitions of £2.3m (2010: £2.3m) but inc
Slide 39: Usage of Credit Facilities – June 2011
USAGE OF CREDIT FACILITIES – June 2011 Headroom of £148m on committed facilities Usage by Currency Facility Usage £ $ € Other £m £m Private placements: US $ 20.0m (Oct 2020) 12.5 12.5 - 12.5 - - US $ 75.0m (Oct 2018) 46.9 46.9 - 46.9 - - US $ 30.0m (Jan 2017) 18.7 18.7 - 18.7 - - US $ 25.0m (Oct 201
Slide 40: Maturity Profile of Credit Facilities
MATURITY PROFILE OF CREDIT FACILITIES £m 220 £148m headroom 200 180 July 160 140 May 120 Oct 100 Net debt Oct Jun 11 - £63m 80 Jan 60 40 Oct 20 Oct 0 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 Committed facilities: Fixed rate Floating rate Interim Results 2011 Page 34
Slide 41: Covenants
COVENANTS June 2011 Dec 2010 June 2010 Dec 2009 Net Debt £62.9m £63.7m £87.4m £102.3m Net interest (1) - rolling 12 months £7.7m £8.0m £8.1m £7.2m EBITDA (1) - rolling 12 months £99.2m £94.0m £85.0m £76.0m Interest cover (to exceed 3.5 times) 12.9 x 11.8 x 10.5 x 10.6 x Net Debt to EBITDA (not to ex
Slide 42: Pensions – Deficit Movement
PENSIONS – DEFICIT MOVEMENT 6 Months 2011 2010 UK USA Various Total Total Funded Funded Unfunded £m £m £m £m £m IAS19 Scheme deficit at 31 Dec 2010 (29.8) (3.3) (5.1) (38.2) (48.1) Service cost (0.4) (0.2) (0.1) (0.7) (1.7) Total employer cash contributions 3.9 0.3 0.1 4.3 13.4 Interest cost of liab
Slide 43: Pensions – UK Plan Funding
PENSIONS – UK PLAN FUNDING Actuarial Valuations Last valuation 6 April 2010 Scheme assets/(liabilities) at valuation £155.5m / (£207.6m) Funding level 75% IAS 19 Valuations June 2011 Dec 2010 Dec 2009 £m £m £m Scheme Assets Equities 57.4 55.3 62.5 Bonds 60.5 57.1 52.1 Gilts 57.0 54.6 33.1 Cash & net
Slide 44: Senior's Products – H1 2011
SENIOR’S PRODUCTS – H1 2011 40% Flexonics Division Aerospace Division 60% (41%) (59%) 13% Engine structures and mountings Expansion joints, bellows, hoses (Ind) 14% (15%) (13%) HVAC ducting (Ind) 5% (6%) 13% Airframe structural parts Fuel distribution (LV) 4% (12%) (6%) Emission control (LV) 8% (6%)
Slide 45: Senior's Customers – H1 2011
SENIOR’S CUSTOMERS – H1 2011 40% Flexonics Division Aerospace Division 60% (41%) (59%) 9% Boeing (7%) Industrial 19% (19% ) 7% UTC (7%) all 1% of Group or less 4% Spirit (4%) Other Land Vehicle 5% (6%) 3% Rolls-Royce Caterpillar 1% (3%) (1%) Volvo 1% 3% Bombardier (-%) (3%) Renault 2% (2%) 3% Goodri
Slide 46: Aerospace – Orders and Deliveries
AEROSPACE – ORDERS AND DELIVERIES Large Deliveries Net Orders Order Book Commercial Aircraft H1 H1 June Dec Dec Dec 2011 2010 2009 2008 2011 2010 2009 2008 2011 2010 2009 2008 Boeing 222 462 481 375 171 530 142 662 3,392 3,443 3,375 3,714 Airbus 258 510 498 483 640 574 271 777 3,934 3,552 3,488 3,71
Slide 47: Aerospace Division
AEROSPACE DIVISION Interim Results 2011
Slide 48: Aerospace Division: A Summary
AEROSPACE DIVISION: A SUMMARY H1 2011 H1 2010(2) Change 16 Operations Revenue £187.9m £164.1m +14.5% NAFTA 11 Europe 3 Adjusted Operating Profit(1) £29.6m £24.4m +21.3% UK 2 Adjusted Operating Margin(1) 15.8% 14.9% +0.9ppts ROW - Other Non Markets Customers Other Non Aerospace 14% Aerospace 14% Boei
Slide 49: Aerospace – Operations
AEROSPACE – OPERATIONS Operation Location Senior Aerospace AMT Seattle, USA Senior Aerospace SSP Los Angeles, USA Senior Aerospace Metal Bellows Boston, USA Senior Aerospace Jet Products San Diego, USA Senior Aerospace Sterling Machine Enfield, CT, USA Senior Aerospace Ketema San Diego, USA Senior A
Slide 50: Aerospace – What Do We Do?
AEROSPACE – WHAT DO WE DO? Sector Strategic Objectives Fluid Conveyance Systems Seek proprietary add-ons & adjacent products Low Pressure Ducting Further develop strategic customer relationships Fluid Systems High Pressure Ducting Increase customer value add through more complete product offering, i
Slide 51: 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 Main Customers: Bombardier, Cessna, Haw
Slide 52: 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 C Series High Pressure Ducting Layout Main Operations: SSP, Bird Bellows, Calorstat Main Customers: Airbus, Boeing, Bombardier, E
Slide 53: 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 54: 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 55: Gas Turbine Engines: Fluid Systems
Gas Turbine Engines: Fluid Systems Hydraulic/Fuel Feed Manifolds Active Clearance Control System Engine Bleed Ducting Bellows Face Seal Main Operations: Bosman, Ermeto, Metal Bellows, Bird Bellows, SSP Main Customers: Rolls Royce, Snecma, MTU, Pratt & Whitney Interim Results 2011 Page 45/1
Slide 56: Gas Turbine Engine: Engine Components
Gas Turbine Engine: Engine Components 307 Combustion TFE 731 Lear Case (Dassault 7X) Jet/Hawker Front F-35 Front Strutted Frame Case Typical Gas Turbine Aero-engine Trent 1000 Engine Casing Trent 1000 Combustor TFE 731 Learjet/Hawker (B787) Case (B787) Bearing Support Housing Main Operations: Ketema
Slide 57: 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 Main Customers: Boeing, Spirit, Goodrich Interim Results 2011 Page 46/1
Slide 58: Structures: Assemblies
Structures: Assemblies 737 Air Inlet (2ea) 737 Wing to Body Ram Air 767 Engine Pylon Frame (Birdcage) 787 Wing to Body Frame 737 V-Blade Assembly (potential) Main Operations: AMT, Jet (potential) Main Customers: Boeing, Spirit, Goodrich Interim Results 2011 Page 46/2
Slide 59: Structures: Nacelles
Structures: Nacelles 777 Load Share Ring GE 90 Inlet Attach Rings (B777) B777 Engine Nacelle Housing CF34-10 Torque Box Ring, 737 Cascade (Embraer 190) Support Ring Main Operations: Jet, Ketema Main Customers: Boeing, Goodrich, Spirit, Middle River (GE) Interim Results 2011 Page 46/3
Slide 60: 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: Sterling Main Customers: Sikorsky, Rolls-Royce Interim
Slide 61: Flexonics Division
FLEXONICS DIVISION Interim Results 2011
Slide 62: Flexonics Division: A Summary
FLEXONICS DIVISION: A SUMMARY H1 2011 H1 2010(1) Change 11 Operations Revenue £127.8m £117.5m +8.8% NAFTA 3 Europe 3 Adjusted Operating Profit £17.0m £15.3m +11.1% UK 2 Adjusted Operating Margin 13.3% 13.0% +0.3ppts ROW 3 Markets Customers Other Industrial 10% Cummins 12% Petrochemical 10% Other For
Slide 63: Flexonics – Operations
FLEXONICS – OPERATIONS Operation Location Senior Flexonics Bartlett Chicago, USA Senior Flexonics Pathway(1) San Antonio & Maine, USA Senior Flexonics Berghofer Germany Senior Flexonics Blois France Senior Flexonics Cape Town South Africa Senior Hargreaves Bury, UK Senior Flexonics Sao Paulo Brazil
Slide 64: Flexonics – What Do We Do?
FLEXONICS – WHAT DO WE DO? Sector Strategic Objectives Land Vehicle Emission Control Continue to develop product portfolio in line with increasing emission regulation standards Heat Exchangers Exhaust Flexes Growth in heat exchanger applications, including fuel cell technologies Common Rail Diesel G
Slide 65: 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 Exchangers Main Operations: Bartlett, Berghofer, Blois, Cape Town, Sao Paulo, New Delhi Main Customers: Cummins, Perkins, CAT, Man, Scania, JCB, PSA, Ford, Renault, Fau
Slide 66: 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 Interim
Slide 67: Industrial Process Control (2)
Industrial Process Control (2) Instrument Control Flexible Tubes & Hoses Medical Heat Bellows Exchangers HVAC Ducting Heat Exchangers Fluid Lines Vacuum Seal Bellows Fuel Cells – CHP/Power Gen CSP - Solar Troughs RotationFlex ® Main Operations: Bartlett, Hargreaves, Canada, Berghofer, Crumlin Main C
Slide 68: Index
INDEX Presentation Appendices Financial highlights 1 Group evolution 25 Aerospace results - constant exchange rates 2 Exchange rates 26 Flexonics results - constant exchange rates 3 Division results - as reported 27 Division results - constant exchange rates 4 Geographic results - as reported 28 Geo