Senior Plc · LSE:SNR
Senior — Shareholder Meeting (April 2006)
10 slides from Senior's shareholder meeting presentation, Apr 28, 2006
Slide 1: Senior plc Annual General Meeting
SENIOR PLC ANNUAL GENERAL MEETING 28th April 2006
Slide 2: 2005 Highlights
2005 Highlights Turnover up 10.4% to £338.6m. Operating profit up 18.1% to £19.6m. Adjusted earnings per share up 11.7% to 4.01p. Dividend maintained at 2.0p. 2006 KEY EVENT Acquisition of Sterling Machine in January this year Page 2
Slide 3: Aerospace – 46% of Group Turnover
AEROSPACE – 46% of Group Turnover Divisional sales up 11.3% to £156.2m. Operating profit up 16.1% to £13.0m. Deliveries Net Orders Book to Bill Order Book 2005 2004 2003 2005 2004 2003 2005 2004 2003 Dec 05 Dec 04 Dec 03 Boeing 290 285 281 1,002 273 238 3.46 0.96 0.85 1,809 1,097 1,109 Airbus 378 32
Slide 4: Automotive – 40% of Group Turnover
AUTOMOTIVE – 40% of Group Turnover Divisional sales up 8.6% to £135.9m. Operating profit up 9.9% to £8.9m. 2005 2004 European car production 18.0m 18.2m US car production 16.3m 16.2m New programmes coming on stream. Heavy capital expenditure - £13.2m, in 2005. High in 2006. US heavy duty diesel prod
Slide 5: Industrial – 14% of Group Turnover
INDUSTRIAL – 14% of Group Turnover Divisional sales up 5.3% to £47.8m. Operating profit up 144% to £2.2m. Despite troublesome Wembley ducting contract - now nearly complete. Excellent oil and gas market, continues into 2006. Page 5
Slide 6: Cash Flow Health Check
Cash Flow Health Check 6 year cumulative Year 2005 June 2000 – Dec 2005 £m £m 206 Cash flow from operations 22 ( 68) Net capital expenditure (16) 7 Tax recovered (paid) ( 1) ( 33) Interest paid ( 3) 16 Disposals - ( 41) Dividends paid ( 6) 87 Retained cash ( 4) 14 Exchange movement ( 7) (163) Openin
Slide 7: Aerospace - Sterling Acquisition
AEROSPACE - STERLING ACQUISITION Page 7
Slide 8: Aerospace - Sterling Acquisition continued
AEROSPACE - STERLING ACQUISITION continued BLACKHAWK Magnesium Housing / Liner Titanium Carrier - Titanium Spindle Assy - Input - Intermediate Planetary Assy Pitch Control Shaft Gearbox Main Gearbox SIKORSKY S-92 Horn Assy Guide Swashplate Cam Assembly – Blade Rotary Wing Head Main Gearbox Positione
Slide 9: Aerospace - Sterling Acquisition continued
AEROSPACE - STERLING ACQUISITION continued 2005 sales $18.8m, EBIT $4.2m. Makes transmission and rotor-head components for helicopters. 95% sales to Sikorsky. Sikorsky delivered 100 helicopters in 2005. Plan to double their build rate. All essentially military – Blackhawk and Super Stallion. Modern
Slide 10: Outlook
OUTLOOK Organic growth in Automotive coming to fruition. Industrial prospects encouraging. Aerospace market growing. Sterling Machine - first acquisition in recent years - earnings enhancing Expect to make further progress in 2006. Page 10