Johnson Controls International plc · NYSE:JCI
Johnson Controls International — Q1 2014 Earnings Presentation
10 slides from Johnson Controls International's earnings presentation, Jan 23, 2014
Slide 1: Quarterly update FY 2014 first quarter
Quarterly update FY 2014 first quarter January 23, 2014
Slide 2: Agenda and forward-looking statements
Agenda Introduction Glen Ponczak, Vice President, Global Investor Relations Overview Alex Molinaroli, Chairman and Chief Executive Officer Business results and financial review Bruce McDonald, Executive Vice President and Chief Financial Officer Q&A FORWARD-LOOKING STATEMENTS Johnson Controls,
Slide 3: Macro environment
2014 first quarter Macro environment Higher global automotive industry production – North America +5% – Europe +2% – China +14% Mixed aftermarket battery demand – Cold North America temperatures in December / January a positive – Europe aftermarket demand trending lower Signs of improving U.S.
Slide 4: 2014 first quarter results and outlook
2014 first quarter Sales: $10.9 billion, up 5% 2014 second quarter outlook vs. $10.4 billion in Q1 2013 EPS: $0.64 - $0.66, up approx. 45%* Segment income: $686 million, up 25% 2014 full year outlook vs. $549 million in Q1 2013 No change to fiscal 2014 guidance Net income: $469 million, up 3
Slide 5: 2014 first quarter highlights
2014 first quarter highlights Finalized agreement to sell remaining Electronics business Announced a 16% increase in quarterly dividend Completed $1.2 billion in share repurchases as part of a three-year $3.6 billion share repurchase program Memorandum of Understanding for joint venture with
Slide 6: Power Solutions
2014 first quarter Power Solutions 2014 2013 Net sales $1.8B $1.7B +6% Improved aftermarket volumes in North America and Asia along with strong OE sales globally – Americas up 3% AGM – Asia up 22% – Europe down 3% AGM volumes up 26% Micro Hybrid Segment income $308M $276M +12% Benefits of high
Slide 7: Building Efficiency
2014 first quarter Building Efficiency 2014 2013 Commercial backlog and orders Net sales $3.4B $3.5B -4% (at December 31, 2013) Soft demand across most markets Orders up 5%; – Asia up 1% increases in North – North America – flat America Systems & – Middle East down 31%; Europe down 17% Service a
Slide 8: Automotive Experience
2014 first quarter Automotive Experience 2014 2013 Fiscal Q1 production Net sales $5.8B $5.2B +10% North America up 5% Seating up 10%; Interiors up 13% and Electronics up 7% Europe up 2% China sales (mostly non-consolidated) up 33% to $1.9B China up 14% Higher revenue in North America, E
Slide 9: First quarter 2014 Financial highlights
First quarter 2014 Financial highlights % 2014 2013 (in millions) (reported) (revised) change Sales $10,908 $10,422 5% Gross profit 1,657 1,516 9% % of sales 15.2% 14.5% SG&A expenses 1,084 1,052 3% Equity income 113 85 33% Segment income $686 $549 25% 6.3% 5.3% Sales – Excluding FX, sales up 4% (
Slide 10: First quarter 2014 Financial highlights
First quarter 2014 Financial highlights 2014 2013 (in millions, except earnings per share) (reported) (revised) Segment income $686 $549 Financing charges - net 55 61 Income before taxes 631 488 Income tax provision 126 99 Net income 505 389 Income attributable to non-controlling interests 36 30 Net