Johnson Controls International plc · NYSE:JCI
Johnson Controls International — Q2 2013 Earnings Presentation
12 slides from Johnson Controls International's earnings presentation, Apr 23, 2013
Slide 1: Quarterly update FY 2013 second quarter
Quarterly update FY 2013 second quarter April 23, 2013
Slide 2: Forward-looking statements
Forward-looking statements Johnson Controls, Inc. has made statements in this document that are forward-looking and, therefore, are subject to risks and uncertainties. All statements in this document other than statements of historical fact are statements that are, or could be, deemed "forward-looki
Slide 3: Agenda
Agenda Introduction Glen Ponczak, Vice President, Global Investor Relations Overview Steve Roell, Chairman and Chief Executive Officer Business results and financial review Alex Molinaroli, Vice Chairman Bruce McDonald, Executive Vice President and Chief Financial Officer Q&A 3
Slide 4: 2013 second quarter: macro environment in-line with expectations
2013 second quarter Macro environment in-line with our expectations Mixed automotive industry production – Flattish y/y production in North America: +1% – Lower production in Europe: down 8% – Higher production in China: +10% Lower U.S., European commercial HVAC demand; Asia still positive – U.S
Slide 5: 2013 second quarter results and full year outlook
2013 second quarter* Sales: $10.4 billion Q2 results consistent with guidance vs. $10.6 billion in Q2 2012 provided on January 2013 earnings conference call Segment income: $463 million vs. $581 million in Q2 2012 2013 full year outlook No change to fiscal 2013 guidance Net income: $287 millio
Slide 6: Stronger year-over-year performance in the second half of fiscal 2013
Stronger year-over-year performance in the second half of fiscal 2013 Improved profitability consistent with market expectations Factors driving improved second half performance Benefits of restructuring – Initiatives on track; additional actions announced in South America and Europe Interiors I
Slide 7: 2013 second quarter: Power Solutions
2013 second quarter* Power Solutions 2013 2012 Net sales $1.6B $1.4B +10% Stronger unit shipments in Asia and Americas OEMs partially offset by lower volumes in Europe – Asia up 14% – Americas up 2% Florence, South Carolina Recycling Facility – Europe down 1% Segment income $221M $200M +11% Bene
Slide 8: 2013 second quarter: Building Efficiency
2013 second quarter* Building Efficiency 2013 2012 Commercial backlog Net sales $3.5B $3.6B -3% and orders (at March 31, 2013) Soft global demand negatively impacting sales, backlog and orders secured Higher sales in North America Systems offset by Backlog ($4.9B), down 6% lower revenue in Eur
Slide 9: 2013 second quarter: Automotive Experience
2013 second quarter* Automotive Experience 2013 2012 Fiscal Q2 production Net sales $5.4B $5.6B -3% North America up 1% Higher revenue in North America offset by lower sales in Europe Europe down 8% Seating and Interiors down modestly; Electronics down China up 10% 13% (higher exposure to
Slide 10: Second quarter 2013 Financial highlights
Second quarter 2013 Financial highlights % 2013 2012 2013 2012 (in millions) (excluding items1) (excluding items2) change (reported) (reported) Sales $10,430 $10,565 -1% $10,430 $10,565 Gross profit 1,488 1,553 -4% 1,488 1,553 % of sales 14.3% 14.7% 14.3% 14.7% SG&A expenses 1,091 1,051 4% 1,091 1,0
Slide 11: Second quarter 2013 Financial highlights
Second quarter 2013 Financial highlights 2013 2012 2013 2012 (in millions, except earnings per share) (excluding items 1) (excluding items 2) (reported) (reported) Segment income $463 $581 $545 $582 Restructuring costs ----- ----- 84 ----- Financing charges - net 66 63 66 63 Income before taxes 397
Slide 12: Concluding Comments
Concluding Comments Q2 an inflection point, strong confidence in second half outlook – Restructuring initiatives on track, additional actions announced – Positive outlook for Power Solutions – Seasonality of Building Efficiency combined with cost and pricing initiatives – Continued sequential impr