11 slides from Johnson Controls International's earnings presentation, Oct 26, 2010
Slide 1: Quarterly update FY 2010 fourth quarter
October 26, 2010 Quarterly update FY 2010 fourth quarter Exhibit 99.2
Slide 2: Agenda and forward-looking statement
Agenda Introduction Glen Ponczak, Vice President, Investor Relations Overview Steve Roell, Chairman and Chief Executive Officer Business results and financial review Bruce McDonald, Executive Vice President and Chief Financial Officer Q&A FORWARD-LOOKING STATEMENT Johnson Controls, Inc. has made for
Slide 3: 2010 fourth quarter
2010 fourth quarter Sales: $9.0 billion vs. $7.9 billion in 2009 (+15%) Segment income*: $586 million vs. $514 million in Q4 2009 Net income*: $409 million vs. $339 million EPS*: $0.60 per diluted share vs. $0.52 in Q4 2009 3 *Excluding non-recurring items in 2010 and 2009 quarters Net debt to total
Slide 4: Full year 2010
2010 full year Sales: $34.3 billion vs. $28.5 billion in 2009 (+20%) Segment income*: $1.9 billion vs. $635 million in 2009 Net income*: $1.4 billion vs. $311 million in 2009 EPS*: $1.99 per diluted share vs. $0.52 in 2009 4 *Excluding non-recurring items Outperformed our underlying markets Market s
Slide 5: Entering 2011: Good momentum
Entering 2011 Good momentum Solid growth in backlogs; evidence of market share gains Automotive up from $2.5 billion to $4.0 billion Building efficiency up 10% at end of 2010 Q4 orders up 32%, excluding currency Significantly higher Global Workplace Solutions contract bids Accelerating demand for SL
Slide 6: Automotive Experience
2010 fourth quarter Automotive Experience 2010 2009 Net sales $4.1B $3.5B 18% North America up 32% Europe down 2% (up 8%, excluding currency) Asia up 74%; strength in Japan and Korea China sales (non-consolidated--not included in Asia revenue): up 41% to $875 million Segment income* $129M $77M 68% H
Slide 7: Building Efficiency
2010 fourth quarter Building Efficiency 2010 2009 Net sales $3.6B $3.3B 10% Higher revenues in all segments except Europe NA Systems up 7%, Services up 11% Global Workplace Solutions up 20% ROW up 19% Europe down 12% (down 4%, excluding currency) Segment income* $275M $243M 13% Higher volume UPG (re
Slide 8: Power Solutions
2010 fourth quarter Power Solutions 2010 2009 Net sales $1.3B $1.1B 19% Unit volumes up 13% Aftermarket unit volume up 12% OE unit volume up 19% Segment income* $182M $194M - 6% Operational improvements Improved product mix 2009 quarter benefits from timing and magnitude of lead purchases 8 *Excludi
Slide 9: Fourth quarter 2010 Financial highlights
Fourth quarter 2010 Financial highlights (in millions) 2010* (excluding items) 2009* (excluding items) % change 2010 (reported) 2009 (reported) Sales $9,040 $7,867 15% $9,040 $7,867 Gross profit % of sales 1,502 16.6% 1,248 15.9% 20% 1,491 16.5% 1,143 14.5% SG&A expenses 975 761 28% 985 761 Equity i
Slide 10: Fourth quarter 2010 Financial highlights (EPS)
Fourth quarter 2010 Financial highlights (in millions, except earnings per share) 2010* (excluding items) 2009* (excluding items) 2010 (reported) 2009 (reported) Segment income $586 $514 $604 $409 Financing charges - net (53) (72) (53) (183) Income before taxes 533 442 551 226 Income tax provision /
Slide 11: Balance sheet
2010 fourth quarter Balance sheet Strong liquidity position Liquidity cushion in excess of $3.3 billion Revolver expires in December 2011 Net debt to capitalization 22% vs 26% in Q4 2009 Cash provided by operations of $66 million ($506 million excluding discretionary pension funding of approximately