Ferguson Enterprises Inc. · NYSE:FERG
Ferguson Enterprises — Q3 FY2008 Earnings Presentation
6 slides from Ferguson Enterprises's earnings presentation, May 21, 2008
Slide 1: Interim Management Statement for the nine months ended 30 April 2008
The name the world builds on Interim Management Statement for the nine months ended 30 April 2008 21 May 2008 This presentation contains certain forward-looking statements. By their nature, such statements involve uncertainty; as a consequence, actual results and developments may differ from those e
Slide 2: Overview
Overview • Trading for 3 months ended 30 April 2008 follows a similar pattern to first half • Markets continue to soften, broadly as expected • US commercial and industrial markets have held up • European markets have softened, particularly the UK • Further action taken to adjust cost base with one-
Slide 3: Financial summary
Financial summary Nine months ended 30 April 2008 • Revenue up 2% • Trading profit down 23% • Profit before tax and amortisation and impairment of acquired intangibles down 30% • Spot cash to cash days improved to 53.0 days (30 April 2007: 58.2 days) and cash conversion was 150% • Cautious approach
Slide 4: North America
North America • Ferguson continued to take market share, although was adversely impacted by a weakening new residential market and a slowing RMI market • Local currency revenue up 1% due to acquisitions and trading profit 1% lower • Organic revenue decreased 3% • 75 branches to close in Q4 with loss
Slide 5: Europe
Europe • UK and Ireland revenue up 3% reflecting the slower new housing and RMI markets. Trading profit was 6% lower, although underlying trading profit up (excluding Ireland and property profits) • Wolseley France revenue was up 3% but trading profit was down 18% • Overall Nordic markets held up we
Slide 6: Outlook
Outlook • Challenging conditions in many markets are expected to continue • In the USA commercial and industrial markets should remain stable into the new financial year • Focus on cost reduction and cash maximisation The name the world builds on 6
Ferguson Enterprises — Q3 FY2008 Earnings Presentation on 6ix