16 slides from Johnson Controls International's earnings presentation, Apr 23, 2010
Slide 1: Quarterly update FY 2010 second quarter
Quarterly update FY 2010 second quarter April 23, 2010 Exhibit 99.2
Slide 2: Agenda and forward-looking statement
Agenda Introduction Glen Ponczak, Executive Director, 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 (conclude at noon Eastern time) FORWARD-LOOKING STATEMENT
Slide 3: 2010 second quarter
2010 second quarter Benefitting from automotive production recovery in North America and Europe Emerging market demand improving across all businesses Margin improvements through cost and quality focus Automotive and power businesses executing well on the higher volumes SG&A discipline in Building E
Slide 4: Second quarter results
2010 second quarter Sales: $8.3 billion vs. $6.3 billion in 2009 (+32%) Segment income*: $427 million vs. loss of $113 million in Q2 2009 Net income*: $292 million vs. loss of $97 million in Q2 2009 EPS*: $0.43 per diluted share vs. loss of $0.16 in Q2 2009 of $0.16 in Q2 2009 of $0.16 in Q2 2009 of
Slide 5: Power Solutions update
Power Solutions update Vertical integration strategies on track Mexico lead recycling facility : October 2010 start-up Permit received for South Carolina lead recycling facility Accelerating investments in China capacity expansion Expansion activities to continue for several years JCI China volume:
Slide 6: Automotive Experience update
Automotive Experience update Strong, broad-based growth in all geographic regions China expansion continuing; now 23 joint ventures with 40 manufacturing plants Expect to add 10 additional manufacturing plants in the next year Expect $3.0 billion in sales in China in 2010, mostly non-consolidated (v
Slide 7: Building Efficiency update
Building Efficiency update Signs of recovery Second quarter orders up 5% Increases across all geographic regions ROW up 11% North America (systems and services) up 5% Europe level North America booking increase led by education, government vertical markets ARRA bookings of $143 million in Q2 Second
Slide 8: Outlook
2010 Outlook Increasing fiscal 2010 guidance Expected strength in 2H automotive production, coupled with our proven ability to execute well on the higher volumes Building Efficiency showing signs of improvement Improving backlog, higher orders Strong double-digit growth in the Global Workplace Solut
Slide 9: Business segment results
Business segment results Johnson J Controls
Slide 10: Second quarter Automotive Experience
2010 second quarter Automotive Experience 2010 2009 Net sales $4.2B $2.4B 70% Sales up 66% adjusted for currency North America: up 85% Europe: up 57% (51% excluding currency) China sales (including unconsolidated): $741M, up 91% Segment income $189M ($269M)* Higher volumes Benefits from restructurin
Slide 11: Second quarter Building Efficiency
2010 second quarter Building Efficiency 2010 2009 Net sales $3.0B $3.0B level Sales down 4% adjusted for currency Adjusted for currency Global Workplace Solutions up 14%, North America residential HVAC up 42% Regional sales: North America down 10%; ROW down 8%; Europe down 20% Segment income $104M $
Slide 12: Second quarter Power Solutions
2010 second quarter Power Solutions 2010 2009 Net sales $1.2B $0.9B 30% Unit volumes up 14% Improving markets, share gains Aftermarket unit volume up 9% OE unit volume up 44% Asia (primarily China) unit volume up 38% Segment income $134M $66M Higher volumes Operational improvements Increased investm
Slide 13: Financial review
Financial review sotnson Controls
Slide 14: Second quarter 2010 Financial highlights
Second quarter 2010 Financial highlights Financial highlights Financial highlights 14 FX - Euro to U.S. dollar average exchange rate at $1.39 in Q2 2010 vs. $1.29 in 2009 Gross profit - Higher volumes, restructuring initiatives and improved capacity utilization SG&A - Excluding currency, SG&A up 2%
Slide 15: Second quarter 2010 Financial highlights
Second quarter 2010 Financial highlights Financial highlights Financial highlights 15 Income tax provisions - Underlying 2010 tax rate of 18% Non-controlling interests- Profitability in consolidated Automotive JVs vs. 2009 losses *Excludes impairment charges and non-recurring tax items in 2009; excl
Slide 16: Revised fiscal 2010 outlook
Revised fiscal 2010 outlook Revised fiscal 2010 outlook 16