12 slides from Johnson Controls International's earnings presentation, Apr 23, 2013
Slide 1: Quarterly update FY 2013 second quarter
April 23, 2013 Quarterly update FY 2013 second quarter Exhibit 99.2
Slide 2: Forward-looking statements
Forward-looking statements Johnson Controls, Inc. has made statements in this document that are forward-looking and, therefore, are subject to risks and uncertainties. All statements in this document other than statements of historical fact are statements that are, or could be, deemed "forward-looki
Slide 3: Agenda
Agenda Introduction Glen Ponczak, Vice President, Global Investor Relations Overview Steve Roell, Chairman and Chief Executive Officer Business results and financial review Alex Molinaroli, Vice Chairman Bruce McDonald, Executive Vice President and Chief Financial Officer Q&A 3
Slide 4: Macro environment in-line with our expectations
Macro environment in-line with our expectations Mixed automotive industry production – Flattish y/y production in North America: +1% – Lower production in Europe: down 8% – Higher production in China: +10% Lower U.S., European commercial HVAC demand; Asia still positive – U.S.: Positives in rece
Slide 5: 2013 second quarter and full year outlook
Sales: $10.4 billion vs. $10.6 billion in Q2 2012 Segment income: $463 million vs. $581 million in Q2 2012 Net income: $287 million vs. $378 million in Q2 2012 EPS: $0.42 per diluted share vs. $0.55 in Q2 2012 5 2013 full year outlook No change to fiscal 2013 guidance EPS $2.60 - $2.70 Q
Slide 6: Stronger year-over-year performance in the second half of fiscal 2013
Stronger year-over-year performance in the second half of fiscal 2013 Improved profitability consistent with market expectations Factors driving improved second half performance Benefits of restructuring – Initiatives on track; additional actions announced in South America and Europe Interiors I
Slide 7: 2013 second quarter: Power Solutions
2013 second quarter* Power Solutions 2013 2012 Net sales $1.6B $1.4B +10% Stronger unit shipments in Asia and Americas OEMs partially offset by lower volumes in Europe – Asia up 14% – Americas up 2% – Europe down 1% Segment income $221M $200M +11% Benefits of higher volume, increased vertical in
Slide 8: 2013 second quarter: Building Efficiency
2013 second quarter* Building Efficiency 2013 2012 Net sales $3.5B $3.6B -3% Soft global demand negatively impacting sales, backlog and orders secured Higher sales in North America Systems offset by lower revenue in Europe, Asia and North America Service – North America Systems up 2%: North Amer
Slide 9: 2013 second quarter: Automotive Experience
2013 second quarter* Automotive Experience 2013 2012 Net sales $5.4B $5.6B -3% Higher revenue in North America offset by lower sales in Europe Seating and Interiors down modestly; Electronics down 13% (higher exposure to Europe) China sales (mostly non-consolidated) up 31% to $1.3B Segment inc
Slide 10: Second quarter 2013 Financial highlights
Second quarter 2013 Financial highlights 10 (in millions) 2013 (excluding items1) 2012 (excluding items2) % change 2013 (reported) 2012 (reported) Sales $10,430 $10,565 -1% $10,430 $10,565 Gross profit % of sales 1,488 14.3% 1,553 14.7% -4% 1,488 14.3% 1,553 14.7% SG&A expenses 1,091 1,051 4% 1,091
Slide 11: Second quarter 2013 Financial highlights
Second quarter 2013 Financial highlights Financing – Higher average debt levels Income tax provision – Underlying 2013 tax rate of 20%, consistent with 2012 Non-controlling interests – Increased ownership in Automotive JVs (in millions, except earnings per share) 2013 (excluding items 1) 2012
Slide 12: Concluding Comments
Concluding Comments Q2 an inflection point, strong confidence in second half outlook – Restructuring initiatives on track, additional actions announced – Positive outlook for Power Solutions – Seasonality of Building Efficiency combined with cost and pricing initiatives – Continued sequential impr