Senior plc · LSE:SNR
Senior — Shareholder Meeting (April 2005)
9 slides from Senior's shareholder meeting presentation, Apr 15, 2005
Slide 1: Senior plc Annual General Meeting
SENIOR PLC ANNUAL GENERAL MEETING 15 April 2005
Slide 2: Key Events 2004
KEY EVENTS 2004 1. Dealt with weak dollar. 2. Dealt with escalating raw material prices. 3. Completed disposal programme with the sale of five hose businesses. 4. Won significant new business in the Automotive Division. 5. Enjoyed recovery in the civil aerospace industry. 6. Underlying earnings per
Slide 3: Cash Flow Health Check
CASH FLOW HEALTH CHECK £M £M 2000 2004 1. Cash flow from operations 50.4 20.4 2. Net capital expendtiture (16.8) (9.7) 3. Tax recovered/(paid) (4.9) 2.7 4. Interest paid (8.7) (2.9) 5. Disposals/(acquisitions) (3.8) 4.5 6. Dividends paid (15.0) (6.1) 7. Retained cash 1.2 8.9 8. Exchange movement (6.
Slide 4: Automotive - 40% of Group Turnover
AUTOMOTIVE - 40% OF GROUP TURNOVER 1. Market analysis: 2003 2004 European production 14.82m 14.81m US Production 16.28m 16.24m Big 3 market share 60.2% 58.7% 2. Weak US demand. 3. Huge pressure on raw materials. 4. Operational problems in France. 5. Progress in UK, Germany, Czech Republic, India, So
Slide 5: Automotive - New Products
AUTOMOTIVE - NEW PRODUCTS Diesel Exhaust Gas Recycling (EGR) Cooler (US Trucks) Diesel Exhaust Gas Recycling (EGR) Cooler (European Cars) Diesel Common Rail Diesel Fuel Lines
Slide 6: Automotive - Secured New Business
AUTOMOTIVE - SECURED NEW BUSINESS Country Product Vehicle Capital Start of Annual Expenditure Production Sales From 2007 USA Common Rail Heavy Trucks 1.4 Late 05 2.0 India Exhaust Flex Cars 0.3 End 05 1.1 UK EGR Cooler Cars 0.5 End 05 0.9 USA Common Rail Heavy Trucks 1.3 Mid 06 1.6 Europe Common Rai
Slide 7: Aerospace - 45% Group Turnover
AEROSPACE - 45% GROUP TURNOVER 1. Market Analysis. Order Aircraft Deliveries – Actual and expected Book Dec 2004 2003 2004 2005 2006 Airbus 1,500 305 320 365 400 Boeing 1,097 281 285 320 350 2,597 586 605 685 750 2. Increasing build rates throughout civil sector. 3. A380 (£190k per shipset) now in p
Slide 8: Industrial - 15% of Group Turnover
INDUSTRIAL - 15% OF GROUP TURNOVER 1. Disposal programme now complete with the sale of the five hose businesses in 2004. 2. Canada improved in a good economy. 3. Pathway rationalised to save $2m annually in a poor market (now better). 4. Hargreaves rationalised and market now better. 5. Expect healt
Slide 9: Summary
SUMMARY 1. Expect continued Aerospace performance improvement. 2. Expect Automotive growth to start in mid 2006. 3. Expect Capex to be high in 2005 and 2006. 4. Expect healthy Industrial business profit recovery. 5. 2005 has started satisfactorily.