13 slides from Johnson Controls International's earnings presentation, Oct 27, 2011
Slide 1: Quarterly update FY 2011 fourth quarter
Exhibit 99.2 Quarterly update FY 2011 fourth quarter October 27, 2011
Slide 2: Agenda
Agenda Introduction Glen Ponczak, Vice President, Global 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 FORWARD-LOOKING STATEMENT Johnson Controls, Inc. has m
Slide 3: 2011 full year results: Record sales and earnings
2011 full year results Record sales and earnings Record FY 2011 results despite a mixed macro environment - (+) Benefitted from global automotive recovery - (-) Weak Building Efficiency markets - (-) Negative impact of Japan earthquake / tsunami Outperformed our underlying markets – FY 2011: Double-
Slide 4: 2011 full year results: Record sales and earnings
2011 full year results Record sales and earnings Sales: $40.8 billion vs. $34.3 billion in 2010 (+19%) Segment income*: $2.4 billion vs. $1.9 billion in 2010 Net income*: $1.7 billion vs. $1.4 billion in 2010 EPS*: $2.40 per diluted share vs. $1.99 in 2010 (+21%) *Excluding non-recurring items 4
Slide 5: Entering 2012
Entering 2012 Good momentum Benefits of strategic M&A and capital growth investments Strong backlogs – $2.3 billion in newly booked business leading to Automotive backlog of $4.2 billion (2012 – 14) – Building Efficiency up 8% at end of 2011 Geographic and capacity expansions in emerging markets Und
Slide 6: 2011 fourth quarter: Record sales and earnings
2011 fourth quarter Record sales and earnings Sales: $10.8 billion vs. $9.0 billion in 2010 (+19%) Segment income*: $725 million vs. $586 million in Q4 2010 Net income*: $514 million vs. $409 million in Q4 2010 EPS*: $0.75 per diluted share vs. $0.60 in Q4 2010 (+25%) Q4 results are consistent with
Slide 7: 2011 fourth quarter: Automotive Experience
2011 fourth quarter Automotive Experience 2011 2010 Fiscal Q4 production Net sales $5.1B $4.1B 24% North America up 6% Europe up 45% Europe up 5% – Up 26%, excluding acquisitions China up 8% North America up 7% Asia up 15%; strength in Korea; Japan slightly lower 2012-2014: $4.2B backlog China sales
Slide 8: 2011 fourth quarter: Building Efficiency
2011 fourth quarter Building Efficiency 2011 2010 Commercial backlog Net sales $4.1B $3.6B 14% and orders (at September 30, 2011) Higher revenues in all segments – Global Workplace Solutions up 24% Record $5.1B, up 8% – North America up 7% – Asia up 17% Backlog up in all – Middle East up 51% geograp
Slide 9: 2011 fourth quarter: Power Solutions
2011 fourth quarter Power Solutions 2011 2010 Q4 average lead prices Net sales $1.6B $1.3B 19% 2011: $2,558 / ton - up 26% Sales up 12%, excluding lead 2010: $2,030 / ton Aftermarket unit volume up 4% OE unit volume up 2% Benefitting from favorable product mix Segment income* $213M $182M 17% Improvi
Slide 10: Fourth quarter 2011 Financial highlights
Fourth quarter 2011 Financial highlights % 2011* 2010* 2011 2010 (in millions) (excluding items) (excluding items) change (reported) (reported) Sales $10,788 $9,040 19% $10,788 $9,040 Gross profit 1,732 1,502 15% 1,732 1,491 % of sales 16.1% 16.6% 16.1% 16.5% SG&A expenses 1,085 975 11% 1,128 985 Eq
Slide 11: Fourth quarter 2011 Financial highlights
Fourth quarter 2011 Financial highlights 2011* 2010* (excluding (excluding 2011 2010 (in millions, except earnings per share) items) items) (reported) (reported) Segment income $725 $586 $719 $604 Financing charges - net 50 53 50 53 Income before taxes 675 533 669 551 Income tax provision 126 96 96
Slide 12: 2011 fourth quarter: Balance sheet
2011 fourth quarter Balance sheet Cash provided by operations of $587 million Discretionary pension and post-retirement funding – Approximately $175 million in Q4 ($440m in FY11) Improved Q4 working capital performance – Adjusted for discretionary pension / retirement funding, source of $45 million
Slide 13: 2012 outlook
2012 outlook Near-term outlook Forecast: Fiscal year 2012 Automotive volumes remain stable Revenues: $44.2 billion, up 8% Operational and quality improvements EPS: $2.85 - $3.00, up 19 – 25% Integration of acquisitions No change to the Execution of backlogs October 12, 2011 guidance China battery pr