Techtronic Industries Co., Ltd. · HKEX:669
Techtronic Industries — FY2010 Earnings Presentation
25 slides from Techtronic Industries's earnings presentation, Mar 25, 2011
Slide 1: 2010 Annual Results Presentation
2010 Annual Results Presentation March 25, 2011
Slide 2: 2010 Full Year Results
2010 Full Year Results 2009 2010 US$m US$m Change Sales 3,075 3,383 +10.0% Gross Profit Margin% 31.3% 32.2% +0.9pt SG&A % of Sales 27.7% 26.9% -0.8pt EBIT 125 167 +33.1% margin 4.1% 4.9% EBIT before restructuring 125 194 +54.4% margin 4.1% 5.7% Net Profit 63 95 +50.7% margin 2.0% 2.8% EPS (cents) 4.
Slide 3: 2010 Income Statement
2010 Income Statement 2009 2010 US$m US$m Change Total Revenue 3,075 3,383 10.0% Gross Profit 961 1,089 13.3% % of sales 31.3% 32.2% Selling, distribution, advertising & warranty exp 427 481 12.4% Administrative expenses 357 366 2.5% Research & development cost 66 65 -1.8% Total SG&A Expenses 851 91
Slide 4: Financial Position
2010 Financial Position 2009 2010 US$m US$m Change Non-current Assets 1,310 1,352 +3.2% Current Assets 1,739 1,914 +10.1% Current Liabilities 1,393 1,423 +2.2% Net Current Assets 346 491 +41.9% Long-term Liabilities 606 713 +17.7% Shareholders’ Funds 1,036 1,115 +7.6% Current Ratio 1.25 1.34 Quick R
Slide 5: Key Financial Figures
2010 Key Financial Figures 2009 2010 US$m US$m Change Inventory 611 645 +5.5% Days 73 70 -3 days Trade Receivables 456 508 +11.4% Days 54 55 +1 day Trade Payables -494 -483 -2.3% Days 59 52 -7 days Net Working Capital 573 670 +16.9% % of Sales 18.6% 19.8% +1.2pts Cash Balance 426 513 +20.4% CAPEX 89
Slide 6: Debts with Fixed Maturity Profile
2010 Debts with Fixed Maturity Profile 2009 2010 US$m US$m Change Cash 426 513 +20.4% Short-term Debt 342 312 -9.0% Short-term Debt Total 43% 342 33% 312 -9.0% Long-term Debt - Fixed 315 168 -46.7% Long-term Debt - Floating 17 298 +1,613.5% Long-term Debt - CB 122 127 +4.4% Long-term Debt Total 57%
Slide 7: Proforma Debt to Equity Ratio Assuming CB converted
Proforma Debt to Equity Ratio Assuming CB converted Dec 2010 (US$m) Dec 2010 CB Proforma Net Debt 812 -150 662 Equity 1,115 150 1,265 Debt-to-Equity 72.9% 52.3% Ratio 8
Slide 8: Proforma Debt Maturity Profile as at Feb 2011
Proforma Debt Maturity Profile as at 28 Feb 2011 148.4 150.0 143.3 141.0 95.8 35.8 2011 2012 2013 2014 2015 Term loan 2009 Conv Bond 9
Slide 9: 2010 Full Year Results
2010 Full Year Results 2009 2010 US$m US$m Change Sales 3,075 3,383 +10.0% GM% 31.3% 32.2% +0.9pt SG&A% 27.7% 26.9% -0.8pt EBIT 125 194 +54.4% before restructuring % of sales 4.1% 5.7% +1.6pts 11
Slide 10: 2010 Full Year Results
2010 Full Year Results 2009 2010 US$m US$m Change EBITDA 229 307 +34.3% before restructuring EBIT 125 194 +54.4% before restructuring Net Profit 63 95 +50.7% EPS 4.09 5.93 +45.1% 12
Slide 11: Sales Growth
2010 Sales Growth 2009 2010 US$m US$m % Growth North America 2,322 2,461 +6.0% ROW 753 922 +22.4% Total 3,075 3,383 +10.0% 13
Slide 12: Power Tool Market Share
Power Tool Market Share Region 2009 2010 US Canada Europe Australasia Latin America 14
Slide 13: Power Tool Accessories
Power Tool Accessories +16% 15
Slide 14: Industrial Park
INDUSTRIAL PARK
Slide 15: Productivity Progress
Productivity Progress +6.4% $3.4B Sales $3.2B -22.1% Headcount 23,685 18,440 Dec 2007 Dec 2010 17
Slide 16: Innovation Centre
INNOVATION CENTRE Res
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Slide 19: AEG Powertools
AEG POWERTOOLS
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Slide 23: Dirt Devil
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Slide 25: New Product Machine
New Product Machine
Techtronic Industries Company — FY2010 Earnings Presentation on 6ix