Slide 1: Full Year Results 2011
FULL YEAR RESULTS 2011 Full Year Results 2011
Slide 2: Agenda
AGENDA Introduction Martin Clark Chairman “Senior delivered a record set of results in 2011. Adjusted profit before tax increased by 19%, driven by strong revenue growth and continuing margin improvements, and healthy operating cash flows resulted in a net debt to EBITDA ratio of only 0.8 times afte
Slide 3: 2011 Results
2011 RESULTS Full Year Results 2011
Slide 4: Financial Highlights
FINANCIAL HIGHLIGHTS 2011 2010 Change Revenue £640.7m £566.9m +13%(1) Adjusted Operating Profit £88.3m £75.4m +17%(2) Adjusted Operating Margin 13.8% 13.3% +0.5ppts Adjusted Profit before Tax £78.0m £65.3m +19% Adjusted Earnings per Share 14.55p 12.01p +21% Total Dividend 3.80p 3.12p +22% Net Borrow
Slide 5: Aerospace Results – constant exchange rates
AEROSPACE RESULTS – constant exchange rates (2) Turnover £m Adj Operating Profit(1) £m Margin on Sales 2011 2010 Change 2011 2010 Change 2011 2010 382.6 325.7 +17.5% 59.6 48.7 +22.4% 15.6% 15.0% Continuing benefit from increasing build rates on large commercial aircraft programmes • Boeing 737, 747-
Slide 6: Flexonics Results – constant exchange rates
FLEXONICS RESULTS – constant exchange rates (2) Turnover £m Adj Operating Profit(1) £m Margin on Sales 2011 2010 Change 2011 2010 Change 2011 2010 258.5 230.9 +12.0% 36.0 31.1 +15.8% 13.9% 13.5% Overall healthy increase in sales in land vehicles markets • Significant increase in North America medium
Slide 7: Division Results – constant exchange rates
DIVISION RESULTS – constant exchange rates (2) £m Turnover Adj Operating Profit (1) Margin on Sales 2011 2010 Change 2011 2010 Change 2011 2010 Aerospace 382.6 325.7 +17.5% 59.6 48.7 +22.4% 15.6% 15.0% Flexonics 258.5 230.9 +12.0% 36.0 31.1 +15.8% 13.9% 13.5% Inter-Segment sales (0.4) (0.4) - - - -
Slide 8: Geographic Results – constant exchange rates
GEOGRAPHIC RESULTS – constant exchange rates (2) £m Turnover by Origin Adj Operating Profit (1) Margin on Sales 2011 2010 Change 2011 2010 Change 2011 2010 North America 425.3 364.6 +16.6% 65.9 55.0 +19.8% 15.5% 15.1% Rest of Europe 100.6 96.4 +4.4% 6.1 4.6 +32.6% 6.1% 4.8% United Kingdom 71.7 57.0
Slide 9: Adjusted and Reported Profit
ADJUSTED AND REPORTED PROFIT 2011 2010 Change £m £m Adjusted operating profit (1) 88.3 75.4 +17% Net interest payable - borrowings and cash (7.9) (7.9) - retirement benefits (2.4) (2.2) Adjusted profit before tax (1) 78.0 65.3 +19% Tax (2011: 25.0%; 2010: 26.5%) (19.5) (17.3) Adjusted profit for the
Slide 10: Earnings per Share and Dividends
EARNINGS PER SHARE AND DIVIDENDS 2011 2010 Change Average number of shares Basic 402.0m 399.6m +2.4m Fully diluted 416.3m 413.6m +2.7m Adjusted earnings per share(1) Basic 14.55p 12.01p +21% Fully diluted 14.05p 11.61p +21% Dividends (pence per share) Interim 1.15p 1.00p +15% Final 2.65p 2.12p +25%
Slide 11: Free Cash Flow Bridge
FREE CASH FLOW BRIDGE £m 120 Adj OP(1) Free Cash Flow 18.6 (7.8) Flexonics (7.3) 100 1.8 (8.2) 16.5 Aerospace (13.8) 88.3 (10.7) 80 (21.8) Flexonics Aerospace 60 55.6 Gross capex £22.1m Disposal proceeds £0.3m 40 20 - Adjusted Depreciation Pensions in Inventory Receivables Payables Other Items Net I
Slide 12: Change in Net Debt
CHANGE IN NET DEBT 2011 2010 £m £m Free cash flow (page 34) 55.6 58.8 Dividends (13.1) (10.8) Acquisitions (68.6) (8.3) Sale of shares held by employee benefit trust - 1.4 Share issues - 0.3 Net cash (outflow)/ inflow (26.1) 41.4 Exchange variations (2.3) (2.8) Finance leases entered into during the
Slide 13: Balance Sheet
BALANCE SHEET 2011 2010 £m £m Goodwill and other intangible assets 226.8 176.6 Property, plant and equipment 126.4 114.0 Other long-term assets 9.7 1.6 Non current assets 362.9 292.2 Inventories 90.3 75.1 Receivables 106.8 80.7 Payables (140.6) (110.5) Working capital (page 11) 56.5 45.3 Current tax
Slide 14: Working Capital
WORKING CAPITAL Balance Sheet Cash Flow Working Inventories Receivables Payables Capital £m £m £m £m 31 December 2010 (page 10) 75.1 80.7 (110.5) Movements in period: Aerospace 7.1 10.2 (9.8) (7.5) Flexonics 0.2 3.7 (3.0) (0.9) Holding companies - (0.1) (3.7) 3.8 Cash flow 7.3 13.8 (16.5) (4.6) Acqu
Slide 15: Markets & Outlook
MARKETS & OUTLOOK Full Year Results 2011
Slide 16: Senior's Markets – 2011
SENIOR’S MARKETS – 2011 40% Flexonics Division Aerospace Division 60% Other Industrial 4% (41%) Petrochemical 3% (4% ) (59%) (4%) Heating, Ventilation & Solar 5% (5%) 25% Large Commercial Aircraft (23%) Power & Energy 7% (6%) Truck 9% (8%) Passenger Vehicles 12% 17% Military/Defence Aerospace (14%)
Slide 17: Large Commercial Aircraft (25% of Group)
LARGE COMMERCIAL AIRCRAFT (25% of Group) Shipset Value ($k) Avg.(1) 2011 Order Deliveries x Avg.(1) Shipset Value ($m ) Var. in avg. shipset deliveries book 0 200 400 600 800 1000 1200 0 10 20 30 40 50 60 70 80 90 100 shipset value value ($k) (number) ’11-’10 ($k) 737 241 372 2,365 +43 737 A318/9/20
Slide 18: Acquisitions
ACQUISITIONS Damar Weston Acquisition date: 25 March 2011 25 November 2011 Consideration paid: £15.8m total consideration £53.0m plus £4.1m £15.5m paid in 2011 plus reimbursement for cash £0.1m acquired overdraft; acquired £0.3m paid in January 2012. Location: Monroe, Colne, UK and Washington State,
Slide 19: Weston Group Acquisition
WESTON GROUP ACQUISITION UK Thailand 100,000 sq ft over a 2 adjacent 30,000 sq number of sites ft facilities New facility for 2013 Aerofoil forging = 2 future adjacent house next door sites Aerofoil machining for Aerofoil machining Rolls-Royce and for Rolls-Royce and premium seat structural componen
Slide 20: Large Commercial Aircraft (25% of Group)
LARGE COMMERCIAL AIRCRAFT (25% of Group) Average Monthly Aircraft Deliveries 2.2 60 120 3.5 +42% 7.3 55 10.0 50 100 45 42.0 35.1 40 80 35 2.0 0.8 30 60 10.0 0.2 6.1 25 8.3 20 40 15 31.0 42.0 10 20 5 0 0 2011 2011 2012 2013 2014 2014 737 777 787 747-8 A320 A330 A380 Combined (RHS) Source: Boeing & Ai
Slide 21: A320neo and 737 MAX
A320neo and 737 MAX A320neo 737 MAX 1,420 orders and commitments since December 2010 launch with Over 1,000 orders and commitments since August 2011 nearly 1,300 firm. Entry into service 2015 launch with over 450 firm. Entry into service 2017 Current Average(1) shipset value – $117k Current Average(
Slide 22: Regional and Business Jets (9% of Group)
REGIONAL AND BUSINESS JETS (9% of Group) Shipset Value ($k) Deliveries x Shipset Value ($m ) 2011 Order Var. in avg. shipset value 0 50 100 150 200 250 300 350 400 450 500 deliveries book 0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 ’11-’10 ($k) GL 5000/XRS Bombardier 53 ? +95 GL 5000/XRS (1) +14 G500/550
Slide 23: Regional and Business Jets (9% of Group)
REGIONAL AND BUSINESS JETS (9% of Group) Average Monthly Aircraft Deliveries 10 25 4.4 9 +3% 5.1 8 20 7 4.9 4.9 6 15 0.4 1.0 1.4 5 1.5 2.4 4 10 1.0 1.4 3 2 5 7.0 7.7 1 0 0 2011 2011 2012 2013 2014 2014 ERJ 190/195 CRJ700/900 CRJ1000 SuperJet CSeries G500/550/650 GL 5000/XRS Combined (RHS) Business J
Slide 24: Military and Defence (17% of Group)
MILITARY AND DEFENCE (17% of Group) Shipset Value ($k) Avg.(1) Estimated shipset 2011 Estim ated Deliveries x Avg.(1)Shipset Value ($m ) Var. in avg. value deliveries shipset value 0 200 400 600 800 1000 0 10 20 30 40 50 ’11-’10 ($k) ($k) (number) Black Haw k 194 215 -3 Black Hawk C-130J 841 33 -30
Slide 25: Military and Defence (17% of Group)
MILITARY AND DEFENCE (17% of Group) Average Monthly Aircraft Deliveries 0.8 28 35 0.9 1.5 2.8 +3% 2.1 24 30 4.2 3.0 1.1 20 25 3.6 2.8 0.8 16 20 2.8 12 15 17.9 8 10 15.8 4 5 0 0 2011 2011 2012 2013 2014 2014 Black Hawk C-130J C17 Eurofighter V-22 (Osprey) JSF (F35) A400M Boeing P-8A Combined (RHS) So
Slide 26: Land Vehicles (21% of Group)
LAND VEHICLES (21% of Group) Passenger Vehicles (12% of Group) European Car Production(1) (9% of Group) (rolling 12 month million vehicles) EU car sales 2%; production 2% 18 16 European sales at PSA, Renault and Ford 7% 14 Brazil car sales flat; production 2% 12 India car sales 4%; production 7% 10
Slide 27: Land Vehicles (21% of Group)
LAND VEHICLES (21% of Group) Passenger Vehicles (12% of Group) Vehicle Production(1) Forecast (million vehicles) European sales down at PSA ( 9%), Renault ( 8%), 20 Ford ( 3%) +5% +4% Near term outlook remains challenging for Senior’s -6% 15 European customers 10 Brazil (2% of Group) and India (1%)
Slide 28: Industrial (19% of Group)
INDUSTRIAL (19% of Group) Group Sales 15%(1) over 2010 2011 Industrial sales split Power & Energy: 27%(1) fuel cell dielectrics and diesel genset rails Other 12% (13%) Other Renewable 1% Petrochemical: 12%(1) partly Canadian oil sands (1%) 33% Power & Boiler Nuclear 2% (29%) (3%) HVAC: 15%(1) UK nuc
Slide 29: Aerospace – Strategy
AEROSPACE – STRATEGY Sector Strategic Objectives Fluid Conveyance Systems Seek proprietary add-ons & adjacent products Low Pressure Ducting Further develop strategic customer relationships Fluid Systems High Pressure Ducting Increase customer value add through more complete product offering, includi
Slide 30: Flexonics – Strategy
FLEXONICS – STRATEGY Sector Strategic Objectives Land Vehicle Emission Control Continue to develop product portfolio in line with increasing emission regulation standards Heat Exchangers Exhaust Flexes Growth in heat exchanger applications, including fuel cell technologies Common Rail Diesel Growth
Slide 31: Acquisition Framework
ACQUISITION FRAMEWORK More Likely Less Likely Fluid Systems Structures New Markets Division Flexonics Large Commercial Biz Jet Rotorcraft Reg Jet VLJ Energy Renewables Nuclear Truck Defence Automotive Market General Industrial Medical Semi-conductor Aero Ducting Control Bellows Simple Composites Jet
Slide 32: Group Outlook
GROUP OUTLOOK Large Commercial Aerospace: Very healthy and visible outlook Business and Regional Jets: Gradual increase from low base Military and Defence: 2012-2013 solid; 2014+ less certain but have new programmes Land Vehicles: N. American trucks ; Europe trucks – new programme benefit European p
Slide 33: Any Questions?
ANY QUESTIONS? Full Year Results 2011
Slide 34: Appendices
APPENDICES Full Year Results 2011
Slide 35: Group Evolution
GROUP EVOLUTION Revenue (£m) Adjusted Operating Profit (£m) Adjusted Operating Margin (%) 700 100 18 Total after central costs 90 16 600 Total after central costs 80 14 500 70 12 400 60 10 50 300 8 40 30 6 200 20 4 100 10 2 0 0 0 2007 2008 2009 2010 2011 2007 2008 2009 2010 2011 2007 2008 2009 2010
Slide 36: Exchange Rates
EXCHANGE RATES Profit and Loss Account Balance Sheet Average Rates Period End Rates 2011 2010 Change 2011 2010 Change £ : US Dollar 1.60 1.55 -3.1% 1.55 1.57 +1.3% £ : Euro 1.15 1.16 +0.9% 1.20 1.17 -2.5% £ : Rand 11.56 11.32 -2.1% 12.55 10.36 -17.5% Euro : Rand 10.05 9.76 -2.9% 10.46 8.85 -15.4% Us
Slide 37: Division Results – As Reported
DIVISION RESULTS – AS REPORTED £m Turnover Adj Operating Profit (1) Margin on Sales 2011 2010 Currency 2011 2010 Currency 2011 2010 Impact(2) Impact(2) Aerospace 382.6 333.8 (8.1) 59.6 50.0 (1.3) 15.6% 15.0% Flexonics 258.5 233.5 (2.6) 36.0 31.6 (0.5) 13.9% 13.5% Inter-Segment sales (0.4) (0.4) - -
Slide 38: Geographic Results – As Reported
GEOGRAPHIC RESULTS – AS REPORTED £m Turnover by Origin Adj Operating Profit (1) Margin on Sales 2011 2010 Currency 2011 2010 Currency 2011 2010 Impact(2) Impact(2) North America 425.3 375.9 (11.3) 65.9 56.8 (1.8) 15.5% 15.1% Rest of Europe 100.6 95.3 1.1 6.1 4.5 0.1 6.1% 4.7% United Kingdom 71.7 57.
Slide 39: Division Results – Half Yearly
DIVISION RESULTS – HALF YEARLY Turnover Adjusted Operating Profit H2 2011 H1 2011 H2 2010 H1 2010 H2 2011 H1 2011 H2 2010 H1 2010 Aerospace 194.7 187.9 163.9 169.9 30.0 29.6 24.7 25.3 Flexonics 130.7 127.8 115.5 118.0 19.0 17.0 16.4 15.2 Inter-segment sales (0.3) (0.1) (0.2) (0.2) - - - - Central co
Slide 40: Aerospace – Weston Group Acquisition
AEROSPACE – WESTON GROUP ACQUISITION Weston Group, comprising Weston EU Ltd (based in the UK) and Weston SEA Ltd (based in Thailand), is a manufacturer of precision machined parts and assemblies for the commercial aerospace industry supplying components for aircraft structures, interiors and for gas
Slide 41: Aerospace – Weston Group Acquisition continued
AEROSPACE – WESTON GROUP ACQUISITION continued Owner managed business, UK and Thailand locations Total 160,000 sq ft of manufacturing and office space. 460 employees Markets: over 90% commercial aerospace Airbus platforms represented over 70% of sales in 2011 Content on A320 family, A330, A350, A380
Slide 42: Weston Group Acquisition – UK operations
AEROSPACE – WESTON GROUP ACQUISITION continued UK based operations 100,000 sq ft of manufacturing and office space over three main sites Senior to invest in new Structures facility for consolidation of existing operations Hard and soft metal structural components machining for Spirit Aerofoil machin
Slide 43: Weston Group Acquisition – Thailand operations
AEROSPACE – WESTON GROUP ACQUISITION continued Thailand based operations Founded in 2005 Two adjacent 30,000 sq ft facilities in Chonburi, approx. one hour’s drive from Bangkok international airport 150 total employees Located close to Thailand’s main sea port, Sriracha Aerofoil manufacture for Roll
Slide 44: Aerospace – Damar Acquisition
AEROSPACE – DAMAR ACQUISITION Damar (located in Washington State, USA) is a manufacturer and integrator of precision machined parts and assemblies for the commercial aerospace industry. It specialises principally in air beams, wing skins, stow bin parts, interior decorative assemblies, panels and bu
Slide 45: Free Cash Flow
FREE CASH FLOW 2011 2010 £m £m Operating profit 83.0 62.2 Depreciation 18.0 19.4 Amortisation of intangible assets 5.0 5.2 Charge for share-based plans 2.5 1.4 Loss/(profit) on disposal of fixed assets 0.3 (0.2) Goodwill impairment - 8.7 Pension payments above service cost (7.8) (5.8) Additional dis
Slide 46: Gross Capital Expenditure
GROSS CAPITAL EXPENDITURE 2011 2010 Capex Depn (1) Capex Depn (1) £m £m £m £m Aerospace 14.1 11.5 8.9 11.5 Flexonics 7.6 7.0 5.2 8.4 Holding Companies 0.4 0.1 0.1 0.1 Total 22.1 18.6 14.2 20.0 (1) Depreciation excludes amortisation of intangible assets arising on acquisitions of £4.4m (2010: £4.6m)
Slide 47: Usage of Credit Facilities – December 2011
USAGE OF CREDIT FACILITIES – December 2011 Headroom of £94m on committed facilities Usage by Currency Interest Facility Usage £ $ € Other % £m £m Private placements: US $ 20.0m (Oct 2020) 6.94% 12.9 12.9 - 12.9 - - US $ 75.0m (Oct 2018) 6.84% 48.4 48.4 - 48.4 - - US $ 30.0m (Jan 2017) 5.85% 19.4 19.
Slide 48: Maturity Profile of Credit Facilities
MATURITY PROFILE OF CREDIT FACILITIES £m 220 200 £94m headroom May 180 Oct 160 Oct 140 120 Net debt Oct Dec 11 - £93m 100 80 Jan 60 40 Oct 20 Oct 0 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 Committed facilities: Fixed rate Floating rate Full Year Results 2011 Page 37
Slide 49: Covenants
COVENANTS Dec 2011 Dec 2010 Dec 2009 Net Debt £93.0m £63.7m £102.3m Net interest (1) £8.0m £8.0m £7.2m EBITDA (1) £109.8m £94.0m £76.0m Interest cover (to exceed 3.5 times) 13.7 x 11.8 x 10.6 x Net Debt to EBITDA (not to exceed 3 times) 0.8 x 0.7 x 1.3 x (1) The Group’s results only include Weston,
Slide 50: Pensions – Deficit Movement
PENSIONS – DEFICIT MOVEMENT 2011 2010 UK USA Various Total Total Funded Funded Unfunded £m £m £m £m £m IAS19 Scheme deficit at 31 Dec 2010 (29.8) (3.3) (5.1) (38.2) (48.1) Service cost (1.0) (0.5) (0.2) (1.7) (1.7) Total employer cash contributions 8.1 1.2 0.2 9.5 13.4 Interest cost of liabilities (
Slide 51: Pensions – UK Plan Funding
PENSIONS – UK PLAN FUNDING Actuarial Valuations Last valuation 6 April 2010 Scheme assets/(liabilities) at valuation £155.5m / (£207.6m) Funding level 75% IAS 19 Valuations Dec 2011 Dec 2010 Dec 2009 £m £m £m Scheme Assets Equities 52.4 55.3 62.5 Bonds 67.1 57.1 52.1 Gilts 67.9 54.6 33.1 Cash & net
Slide 52: Senior's Products – 2011
SENIOR’S PRODUCTS – 2011 40% Flexonics Division Aerospace Division 60% (41%) (59%) 13% Airframe structural parts Expansion joints, bellows, hoses (Ind) 14% (12%) (14%) HVAC ducting (Ind) 5% (5%) 13% Engine structures Fuel distribution (LV) 4% (14%) and mountings (6%) Exhaust flexes (LV) 8% (9%) 13%
Slide 53: Senior's Customers – 2011
SENIOR’S CUSTOMERS – 2011 40% Flexonics Division Aerospace Division 60% (41%) (59%) 9% Boeing (8%) Industrial 19% (19% ) 7% UTC (7%) all 1% of Group or less 4% Spirit (4%) Other Land Vehicle 5% (6%) Fiat 1% 4% Rolls-Royce (1%) (4%) Caterpillar 1% (1%) 2% Bombardier (3%) Renault 1% (2%) GM 2% 2% Good
Slide 54: Senior's Locations
SENIOR’S LOCATIONS Full Year Results 2011 Page 43
Slide 55: Aerospace – Orders and Deliveries
AEROSPACE – ORDERS AND DELIVERIES Large Deliveries Net Orders Order Book Commercial Aircraft Dec Dec Dec Dec 2011 2010 2009 2008 2011 2010 2009 2008 2011 2010 2009 2008 Boeing 477 462 481 375 805 530 142 662 3,771 3,443 3,375 3,714 Airbus 534 510 498 483 1,419 574 271 777 4,437 3,552 3,488 3,715 Tot
Slide 56: Aerospace Division
AEROSPACE DIVISION Full Year Results 2011
Slide 57: Aerospace Division: A Summary
AEROSPACE DIVISION: A SUMMARY 2011 2010(2) Change 18 Operations Revenue £382.6m £325.7m +17.5% NAFTA 11 Europe 3 Adjusted Operating Profit(1) £59.6m £48.7m +22.4% UK 3 Adjusted Operating Margin(1) 15.6% 15.0% +0.6ppts ROW 1 Other Non Markets Customers Other Non Aerospace 12% Aerospace 12% Boeing 15%
Slide 58: Aerospace – Operations
AEROSPACE – OPERATIONS Operation Location Senior Aerospace AMT Seattle, USA Senior Aerospace SSP Los Angeles, USA Senior Aerospace Jet Products San Diego, USA Senior Aerospace Metal Bellows Boston, USA Senior Aerospace Sterling Machine Enfield, CT, USA Senior Aerospace Ketema San Diego, USA Senior A
Slide 59: Fluid Conveyance: Low Pressure Ducting
Fluid Conveyance: Low Pressure Ducting Engineered Composite Duct Assembly Low Pressure Ducting Typical Rotorcraft Assembly Ducting Layout Various Composite Duct Products Typical Business Jet Composite Wall Panels Ducting Layout Main Operations: BWT, Composites Main Customers: Bombardier, Cessna, Haw
Slide 60: Fluid Conveyance: High Pressure Ducting
Fluid Conveyance: High Pressure Ducting HP Bleed Air Duct Engineered Solutions Typical Bizjet Engine Bleed Ducting HP Bleed Air Duct Typical Wing Duct Products Bombardier C Series High Pressure Ducting Layout Main Operations: SSP, Bird Bellows, Calorstat Main Customers: Airbus, Boeing, Bombardier, E
Slide 61: Fluid Conveyance: Aerospace Control Products
Fluid Conveyance: Aerospace Control Products Hydraulic System Couplings Control Actuators Hydraulic Bellows Accumulators Pressure/Temp Sensors Hydraulic Control Manifold Compressor Assembly Main Operations: Metal Bellows, Calorstat, Bird Bellows, Ermeto Main Customers: Airbus, Boeing, Lockheed Marti
Slide 62: Fluid Conveyance: Non-Aerospace Control Products
Fluid Conveyance: Non-Aerospace Control Products Pin Lift Actuator Bellows Assembly (Semi-Conductor) (Nuclear industry) Process Control Valves Drug Pump Implant (Chemical process) (Medical) Main Operations: Calorstat, Metal Bellows, Ermeto, Bird Bellows Main Customers: AECL Nuclear, Volvo, LAM Indus
Slide 63: Gas Turbine Engines: Fluid Systems
Gas Turbine Engines: Fluid Systems Hydraulic/Fuel Feed Manifolds Active Clearance Control System Engine Bleed Ducting Bellows Face Seal Main Operations: Bosman, Ermeto, Metal Bellows, Bird Bellows, SSP Main Customers: Rolls Royce, Snecma, MTU, Pratt & Whitney Full Year Results 2011 Page 48/1
Slide 64: Gas Turbine Engine: Engine Components
Gas Turbine Engine: Engine Components 307 Combustion TFE 731 Lear Case (Dassault 7X) Jet/Hawker Front F-35 Front Strutted Frame Case Typical Gas Turbine Aero-engine Trent 1000 Engine Casing Trent 1000 Combustor Aerofoil for gas TFE 731 Learjet/Hawker (B787) Case (B787) turbine engine Bearing Support
Slide 65: Structures: Airframe
Structures: Airframe 747 Frame 737 Main Landing Gear 787 Aft Engine Support Assy. Wheel Well Pylon 747-8 Fuselage 787 Vertical Fin component 737 Boeing Wing Ribs Main Operations: AMT, Absolute, Damar, Mexico, Weston Main Customers: Boeing, Spirit, Goodrich Full Year Results 2011 Page 49/1
Slide 66: Structures: Assemblies
Structures: Assemblies 737 Air Inlet (2ea) 737 Wing to Body Ram Air 767 Engine Pylon Frame (Birdcage) 787 Wing to Body Frame Premium Seat Chassis Main Operations: AMT, Weston Main Customers: Boeing, Spirit, Contour (Zodiac) Full Year Results 2011 Page 49/2
Slide 67: Structures: Nacelles
Structures: Nacelles 777 Load Share Ring GE 90 Inlet Attach Rings (B777) B777 Engine Nacelle Housing CF34-10 Torque Box Ring, 737 Cascade (Embraer 190) Support Ring Main Operations: Jet, Ketema Main Customers: Boeing, Goodrich, Spirit, Middle River (GE) Full Year Results 2011 Page 49/3
Slide 68: Structures: Helicopter Transmissions
Structures: Helicopter Transmissions Sikorsky UH60 Blackhawk Sikorsky S-92 Rotorcraft UH60 Blackhawk Housing Assy. Blackhawk Gear Housing Assy. S-92 Swash Plate Guide S-92 Carrier Assy. Blackhawk Carrier Assy. Blackhawk Spindle Main Operations: Sterling Main Customers: Sikorsky, Rolls-Royce Full Yea
Slide 69: Flexonics Division
FLEXONICS DIVISION Full Year Results 2011
Slide 70: Flexonics Division: A Summary
FLEXONICS DIVISION: A SUMMARY 2011 2010(2) Change 11 Operations Revenue £258.5m £230.9m +12.0% NAFTA 3 Europe 3 Adjusted Operating Profit (1) £36.0m £31.1m +15.8% UK 2 Adjusted Operating Margin(1) 13.9% 13.5% +0.4ppts ROW 3 Markets Customers Other Industrial 9% Cummins 15% Petrochemical 9% Passenger
Slide 71: Flexonics – Operations
FLEXONICS – OPERATIONS Operation Location Senior Flexonics Bartlett Chicago, USA Senior Flexonics Pathway(1) San Antonio & Maine, USA Senior Flexonics Germany Germany Senior Flexonics Cape Town South Africa Senior Flexonics Blois France Senior Hargreaves Bury, UK Senior Flexonics Sao Paulo Brazil Se
Slide 72: Land Vehicle Emission Control
Land Vehicle Emission Control Common Rails Tubes Turbo-oil feed and drain High Pressure Fuel Lines Exhaust Bellows EGR Coolers/Heat Exchangers Main Operations: Bartlett, Germany, Blois, Cape Town, Sao Paulo, New Delhi Main Customers: Cummins, Perkins, CAT, Man, Scania, JCB, PSA, Ford, Renault, Faure
Slide 73: Industrial Process Control (1)
Industrial Process Control (1) Metal Expansion Joints Fabric Expansion Joints Refineries Power Steel Mills Generation Metal Expansion Joints Dampers/Diverters Main Operations: Pathway, WahlcoMetroflex Main Customers: US domestic operators (400+), Constructors (Global), Engineering specifiers Full Ye
Slide 74: Industrial Process Control (2)
Industrial Process Control (2) Instrument Control Flexible Tubes & Hoses Bellows HVAC Ducting Vacuum Seal Bellows Medical Heat Fuel Cells – Dielectric Exchangers for fuel delivery CSP - Solar Troughs RotationFlex ® Main Operations: Bartlett, Hargreaves, Canada, Berghofer, Crumlin Main Customers: Mai
Slide 75: Index
INDEX Presentation Appendices Financial highlights 1 Group evolution 27 Aerospace results - constant exchange rates 2 Exchange rates 28 Flexonics results - constant exchange rates 3 Division results - as reported 29 Division results - constant exchange rates 4 Geographic results - as reported 30 Geo