Techtronic Industries Co., Ltd. · HKEX:669
Techtronic Industries — FY2015 Earnings Presentation
47 slides from Techtronic Industries's earnings presentation, Mar 16, 2016
Slide 1: 2015 Annual Results Presentation
2015 Annual Results Presentation March 16, 2016
Slide 2: Frank Chan
Frank Chan 2
Slide 3: 2015 Full Year Results
2015 Full Year Results (US$ m) 2014 2015 Change Excl. F/X Sales $4,753 $5,038 +6.0% +10.5% Gross Profit $1,673 $1,798 +7.4% Gross Margin % 35.2% 35.7% +50bps EBIT $351 $400 +14.0% % of sales 7.4% 7.9% Net Profit $300 $354 +18.0% % of sales 6.3% 7.0% EPS (cents) 16.41₵ 19.37₵ +18.0% Final Dividend (H
Slide 4: 2015 Segment Results
2015 Segment Results (US$ m) 2014 2015 Change Excl. F/X Segment Sales $3,553 $3,972 +11.8% +16.8% Power Segment % 74.7% 78.8% Equip. Op Profit $292 $379 +29.7% % of sales 8.2% 9.5% Sales $1,200 $1,066 -11.2% -8.1% Floor Care Segment % 25.3% 21.2% Op Profit $58 $21 -64.6% % of sales 4.8% 2.0% 4
Slide 5: 2015 Region Sales
2015 Region Sales (US$ m) 2014 2015 Change Excl. F/X Region North $3,393 $3,772 +11.2% +12.1% America Region % 71.4% 74.9% EMEA $969 $861 -11.1% +5.1% Region % 20.4% 17.1% ROW $391 $405 +3.5% +18.9% (Rest of World) Region % 8.2% 8.0% 5
Slide 6: 2015 Income Statement
2015 Income Statement (US$ m) 2014 2015 Change Sales $4,753 $5,038 +6.0% Gross Margin $1,673 $1,798 +7.4% % of sales 35.2% 35.7% Selling, Distribution, & Advertising $644 $697 +8.4% Administrative Expenses $564 $578 +2.4% Research & Development $118 $128 +8.3% Total SG&A Expenses $1,326 $1,403 +5.8%
Slide 7: 2015 Financial Position
2015 Financial Position (US$ m) 2014 2015 Change Non-current Assets $1,616 $1,809 +12.0% Current Assets $2,736 $2,993 +9.4% Current Liabilities $1,947 $2,069 +6.3% Net Current Assets $788 $924 +17.2% Long-term Liabilities $437 $578 +32.2% Equity $1,967 $2,156 +9.6% Interest Coverage (x) 13.0x 24.8x
Slide 8: 2015 Gearing Ratio
2015 Gearing Ratio (Net Debt / Equity) 2011 2012 2013 2014 2015 Gearing 59.3% 25.8% 10.6% 10.0% 13.4% * * 9.9% excluding $70M Corporate Office purchase 8
Slide 9: 2015 Key Financial Figures
2015 Key Financial Figures (US$ m) 2014 2015 Change Inventory $1,056 $1,190 Days 81 86 +5 days Receivables $773 $828 Days 59 60 +1 day Payables $1,135 $1,160 Days 87 84 -3 days Net Working Capital $694 $858 % of Sales 14.6% 17.0% Cash Balance $690 $775 +12.2% CAPEX $154 $162 +4.7% 9
Slide 10: 2015 Debt Profile
2015 Debt Profile (US$ m) 2014 2015 Change Cash Balance $690 $775 +12.3% Debt with Fixed Maturities $550 $498 -9.5% Working Capital Financing $338 $566 +67.6% Total Debt $888 $1,064 +19.8% Total Net Debt $198 $289 +46.3% Floating Rate 89% $792 100% $1,064 +34.3% Fixed Rate 11% $96 0% $0 N/A 10
Slide 11: Joe Galli
Joe Galli 11
Slide 12: 2015 Full Year Sales
2015 Full Year Sales (US $m) 2014 2015 Sales $4,753 $5,038 % chg +6.0% % chg excluding F/X +10.5% 12
Slide 13: 2015 Sales
2015 Sales Floorcare Power 21% Equipment 79% +16.8% -8.1% Excl. F/X Excl. F/X 13
Slide 14: 2015 Sales by Region
2015 Sales REGION (US $m) Sales Excl. F/X NA $3,772 +12.1% EMEA $861 +5.1% ROW $405 +18.9% 14
Slide 15: 2015 Full Year Results
2015 Full Year Results (US $m) 2014 2015 Change Excl. F/X Sales $4,753 $5,038 +6.0% +10.5% Gross Margin % 35.2% 35.7% +50bps EBIT $351 $400 +14.0% % of sales 7.4% 7.9% Net Profit $300 $354 +18.0% % of sales 6.3% 7.0% EPS (cents) 16.41₵ 19.37₵ +18.0% 15
Slide 16: Gross Margin Trend
Gross Margin Trend 2011 2012 2013 2014 2015 +35.7% +35.2% +34.2% +33.5% +32.6% 16
Slide 17: 2015 Working Capital
2015 Working Capital (US$ m) 2014 2015 Change Inventory $1,056 $1,190 Days 81 86 +5 days Trade Rec $773 $828 Days 59 60 +1 day Trade Payables $1,135 $1,160 Days 87 84 -3 days Net Working Capital $694 $858 WC % of Sales 14.6% 17.0% 17
Slide 18: Productivity Progress
Productivity Progress Change +10.5% Sales Excl. F/X Headcount +2.2% 18
Slide 19: 2015 Sales
2015 Sales +23.7% Excl. F/X 19
Slide 20: 2015 Sales by Region
2015 Sales REGION Excl. F/X NA +24.6% EMEA +24.0% ROW +15.5% 20
Slide 21: Power Equipment
Power Equipment 2015 Sales +16.8% Excl. F/X POWER TOOLS OUTDOOR PRODUCTS 21
Slide 22: Confidential Document Property of Milwaukee Electric Tool Corporation Brookfield, Wisconsin 53005
Confidential Document Property of Milwaukee Electric Tool Corporation Brookfield, Wisconsin 53005
Slide 23: Confidential Document Property of Milwaukee Electric Tool Corporation Brookfield, Wisconsin 53005
Confidential Document Property of Milwaukee Electric Tool Corporation Brookfield, Wisconsin 53005
Slide 24: Confidential Document Property of Milwaukee Electric Tool Corporation Brookfield, Wisconsin 53005
Confidential Document Property of Milwaukee Electric Tool Corporation Brookfield, Wisconsin 53005
Slide 25: Confidential Document Property of Milwaukee Electric Tool Corporation Brookfield, Wisconsin 53005
Confidential Document Property of Milwaukee Electric Tool Corporation Brookfield, Wisconsin 53005
Slide 26: Milwaukee
Mile us
Slide 27: Confidential Document Property of Milwaukee Electric Tool Corporation Brookfield, Wisconsin 53005
Confidential Document Property of Milwaukee Electric Tool Corporation Brookfield, Wisconsin 53005
Slide 28: Confidential Document Property of Milwaukee Electric Tool Corporation Brookfield, Wisconsin 53005
Confidential Document Property of Milwaukee Electric Tool Corporation Brookfield, Wisconsin 53005
Slide 29: Confidential Document Property of Milwaukee Electric Tool Corporation Brookfield, Wisconsin 53005
Confidential Document Property of Milwaukee Electric Tool Corporation Brookfield, Wisconsin 53005
Slide 30: Confidential Document Property of Milwaukee Electric Tool Corporation Brookfield, Wisconsin 53005
Confidential Document Property of Milwaukee Electric Tool Corporation Brookfield, Wisconsin 53005
Slide 31: Confidential Document Property of Milwaukee Electric Tool Corporation Brookfield, Wisconsin 53005
Confidential Document Property of Milwaukee Electric Tool Corporation Brookfield, Wisconsin 53005
Slide 32: Confidential Document Property of Milwaukee Electric Tool Corporation Brookfield, Wisconsin 53005
Confidential Document Property of Milwaukee Electric Tool Corporation Brookfield, Wisconsin 53005
Slide 33: Confidential Document Property of Milwaukee Electric Tool Corporation Brookfield, Wisconsin 53005
Confidential Document Property of Milwaukee Electric Tool Corporation Brookfield, Wisconsin 53005
Slide 34: Confidential Document Property of Milwaukee Electric Tool Corporation Brookfield, Wisconsin 53005
Confidential Document Property of Milwaukee Electric Tool Corporation Brookfield, Wisconsin 53005
Slide 35: Confidential Document Property of Milwaukee Electric Tool Corporation Brookfield, Wisconsin 53005
Confidential Document Property of Milwaukee Electric Tool Corporation Brookfield, Wisconsin 53005
Slide 36: Confidential Document Property of Milwaukee Electric Tool Corporation Brookfield, Wisconsin 53005
Confidential Document Property of Milwaukee Electric Tool Corporation Brookfield, Wisconsin 53005
Slide 37: Empire
Empiré>
Slide 38: Confidential Document Property of MILWAUKEE TOOL Brookfield, Wisconsin 53005
Confidential Document Property of MILWAUKEE TOOL Brookfield, Wisconsin 53005
Slide 39: Ryobi ONE+ 18V Lithium
Slide 40: Outdoor Products
OUTDOOR PRODUCTS
Slide 41: Outdoor Products
AOV Lira OUTDOOR PRODUCTS
Slide 42: Outdoor Products Pressure Washers
OUTDOOR PRODUCTS PRESSURE WASHERS
Slide 43: jr) orRECK VaXx Devil
jr) orRECK VaXx Devil
Slide 44: Cordless
cordless
Slide 45: Cordless
Van CORDLESS
Slide 46: Commercial
COMMERCIAL
Slide 47: TTI logo
Techtronic Industries Company — FY2015 Earnings Presentation on 6ix