15 slides from Johnson Controls International's earnings presentation, Apr 23, 2015
Slide 1: Quarterly update FY 2015 second quarter
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Slide 2: Agenda and forward-looking statements
Johnson Controls, Inc. — 2 1/6 2/6 4/6 5/6 1/4 3/4 1/2 Agenda Introduction Glen Ponczak, Vice President, Global Investor Relations Overview Alex Molinaroli, Chairman and Chief Executive Officer Business results Bruce McDonald, Vice Chairman and Executive Vice President Financial review Brian
Slide 3: 2015 Second Quarter (continuing operations)
Johnson Controls, Inc. — 3 1/6 2/6 4/6 5/6 1/4 3/4 1/2 2015 Second Quarter (continuing operations)* Net revenues: $9.2 billion, down 3% vs. $9.5 billion in Q2 2014 - Excluding currency, up 4% Segment income: $698 million, up 18% vs. $593 million in Q2 2014 Improved profitability : Segment inco
Slide 4: 2015 second quarter Improving Macroeconomic Environment
Johnson Controls, Inc. — 4 1/6 2/6 4/6 5/6 1/4 3/4 1/2 2015 second quarter Improving Macroeconomic Environment Increased orders in U.S. and Asia commercial HVAC markets – Double digit improvements in North America government and education vertical markets Higher global automotive industry produc
Slide 5: 2015 Second Quarter Highlights: Market Leadership
Johnson Controls, Inc. — 5 1/6 2/6 4/6 5/6 1/4 3/4 1/2 Market Leadership Named General Motors 2014 “Supplier of the Year” Awarded Toyota "Superior TNGA Promotion Award“ for next-gen seat structure Named to 2015 “World’s Most Ethical Company®” list by the Ethisphere Institute “Best Company in
Slide 6: 2015 Second Quarter Building Efficiency
Johnson Controls, Inc. — 6 1/6 2/6 4/6 5/6 1/4 3/4 1/2 2015 Second Quarter Building Efficiency* (GWS reported as a discontinued operation) Commercial backlog and orders (at March 31, 2015) Backlog $4.6B – level, adjusted for FX Orders up 8%, adjusted for FX and M&A - North American region +11% 2
Slide 7: 2015 Second Quarter Power Solutions
Johnson Controls, Inc. — 7 1/6 2/6 4/6 5/6 1/4 3/4 1/2 2015 2014 Net sales $1.6B $1.6B +2% Segment income $264M $234M +13% Segment income margin 16.6% 15.0% +160 bps Excluding foreign exchange, sales up 8% Improved aftermarket and OE volumes globally Americas up 2% Asia up 10% Europe up 21
Slide 8: 2015 Second Quarter Automotive Experience
Johnson Controls, Inc. — 8 1/6 2/6 4/6 5/6 1/4 3/4 1/2 2015 Second Quarter Automotive Experience* Fiscal Q2 production North America up 2% Europe level China up 6% 2015 2014 Net sales $5.2B $5.6B -7% Segment income $261M $232M +13% Segment income margin 5.0% 4.1% +90 bps Revenue decline due
Slide 9: Second Quarter 2015 Financial Highlights (continuing operations)
Johnson Controls, Inc. — 9 1/6 2/6 4/6 5/6 1/4 3/4 1/2 Second Quarter 2015 Financial Highlights (continuing operations) (in millions) 2015 1 2014 % Change 2015 (reported) 2014 (reported) Sales $9,198 $9,467 -3% $9,198 $9,467 Gross profit % of sales 1,573 17.1% 1,472 15.5% +7% 1,573 17.1% 1,472 15.5%
Slide 10: Second Quarter 2015 Financial Highlights (continuing operations)
Johnson Controls, Inc. — 10 1/6 2/6 4/6 5/6 1/4 3/4 1/2 Second Quarter 2015 Financial Highlights (continuing operations) (in millions, except earnings per share) 2015 1 2014 2015 (reported) 2014 (reported) Operating income $698 $593 $680 $593 Financing charges - net 69 56 69 56 Income from continuin
Slide 11: Financial Guidance
Johnson Controls, Inc. — 11 1/6 2/6 4/6 5/6 1/4 3/4 1/2 Updating guidance to reflect GWS as a discontinued operation and Euro at $1.05 Financial Guidance FY15 currency headwinds substantially offset by lower commodity prices and Johnson Controls Operating System benefits Johnson Controls Operati
Slide 12: GWS Reported as a Discontinued Operation
Johnson Controls, Inc. — 12 1/6 2/6 4/6 5/6 1/4 3/4 1/2 GWS Reported as a Discontinued Operation* FY 2014 Q1 Q2 Q3 Q4 FY14 Previously Adjusted - Continuing Ops 0.66$ 0.64$ 0.84$ 1.04$ 3.18$ GWS - Discontinued Ops (0.03) (0.03) (0.05) (0.07) (0.18) Adjusted - Continuing Ops 0.63$ 0.61$ 0.79$ 0.97$ 3.
Slide 13: Appendix
Johnson Controls, Inc. — 13 1/6 2/6 4/6 5/6 1/4 3/4 1/2 APPENDIX
Slide 14: Discontinued Ops Reconciliation
Johnson Controls, Inc. — 14 1/6 2/6 4/6 5/6 1/4 3/4 1/2 Appendix Discontinued Ops Reconciliation* *Excludes transaction / integration costs and other non-recurring items Sales FY15 Q1 Q2 Q3 Q4 Full Year Q1 Previously Reported Sales - Continuing Ops 10,574$ 10,463$ 10,812$ 10,979$ 42,828$ 10,666$ GWS
Slide 15: Continuing Ops & Discontinued Ops Reconciliation of Transaction / Integration Costs
Johnson Controls, Inc. — 15 1/6 2/6 4/6 5/6 1/4 3/4 1/2 Appendix Continuing Ops & Discontinued Ops Reconciliation of Transaction / Integration Costs and Non-recurring Items * May not sum due to rounding ** FY14 Q3 - $0.04 loss on business divestiture; FY14 Q4 - $0.05 foreign earnings repatriation pr