Slide 1: Full Year Results 2016
FULL YEAR RESULTS 2016 Full Year Results 2016
Slide 2: Agenda
AGENDA Introduction David Squires CEO 2016 Results Derek Harding FD Markets & Outlook David Squires CEO Full Year Results 2016
Slide 3: Cautionary Statement
2016 RESULTS Cautionary Statement This document contains certain forward-looking statements. Such statements have been made in good faith based on information available at the time of announcing the results for the year ended 31 December 2016. These statements should therefore be treated with cautio
Slide 4: Financial Highlights
FINANCIAL HIGHLIGHTS constant 2016 2015 Change currency Revenue £917.0m £849.5m +8% -2%(1) Adjusted Operating Profit £85.6m £107.8m -21% -28%(2) Adjusted Operating Margin 9.3% 12.7% -3.4ppts -3.4ppts(3) Adjusted Profit before Tax £75.3m £99.3m -24% -31% Adjusted Earnings per Share 14.37p 18.98p -24%
Slide 5: 2016 at a Glance
2016 AT A GLANCE £m 1,000 Revenue Large Commercial £34.4m 8.9 (54.6) 30.7 Regional Jet £6.2m 950 82.4 Business Jet £(13.7)m 0.1 917.0 Military £(13.0)m LPE - £4.3m 900 Steico - £26.4m Other £(5.0)m 850 849.5 Truck & Off-highway £(20.1)m $1.36 (15: 1.53) Oil and Gas £(23.4)m €1.23 (15:
Slide 6: Aerospace Results – constant exchange rates
AEROSPACE RESULTS – constant exchange rates(2) £m 670 Revenue Growth 2015 to 2016 34.4 26.4 665.2 £m 2016 2015 Change 660 Revenue 665.2 629.9 +5.6% (7.5) 650 Adj OP(1) 74.8 83.6 -10.5% 638.8 640 (13.0) Margin 11.2% 13.3% -2.1ppts 629.9 (5.0) 630 Organic(3) 620 Revenue 638.8 629.9 +1.4% 610 Adj OP(1)
Slide 7: Flexonics Results – constant exchange rates
FLEXONICS RESULTS – constant exchange rates(2) £m Revenue Growth 2015 to 2016 320 £m 2016 2015 Change 302.4 300 Revenue 252.1 302.4 -16.6% Adj OP(1) 20.7 43.5 -52.4% 280 (20.1) (5.8) Margin 8.2% 14.4% -6.2ppts 260 0.5 4.3 252.1 247.8 Organic(3) 240 (29.2) Revenue 247.8 302.4 -18.1% 220 Adj OP(1) 21.
Slide 8: Adjusted and Reported Profit
ADJUSTED AND REPORTED PROFIT 2016 2015 Change £m £m Adjusted operating profit 85.6 107.8 -21% (-28% on constant currency basis) Net interest payable – borrowings and cash (10.1) (8.0) – retirement benefits (0.2) (0.5) Adjusted profit before tax 75.3 99.3 -24% (-31% on constant currency basis) Tax (2
Slide 9: Cash Flow and Use of Funds
CASH FLOW AND USE OF FUNDS £m 130 Gross capex £(52.8)m 36.8 (0.4) (52.0) Disposal proceeds £0.8m 120 Gross capex of £52.8m includes: 110 £8.7m – Thailand, for 787 and A350 £7.7m – USA, for 737 ramp-up 100 £3.1m – India, for new EGR cooler and rail facility £1.7m – Malaysia, for A350 90 £0.9m – Flexo
Slide 10: Balance Sheet
BALANCE SHEET Dec Dec 2016 2015 £m £m Goodwill and other intangible assets 379.3 356.6 FX Impact from Dec 2015 Investment in JV 1.7 1.1 £m Property, plant and equipment 254.2 206.6 Non current assets 76.9 Other long-term assets 7.8 8.1 Working capital 20.7 Non current assets (before pension) 643.0 5
Slide 11: Working Capital
WORKING CAPITAL Working capital as a % of revenue 16.0% 1.0% (0.3)% 15.1% (0.6)% 15.1% 15.0% (0.1)% 14.0% 13.0% 12.0% 11.0% 10.0% Dec-15 Receivables Payables Inventories FX Dec-16 Balance Sheet Cash Flow Payables & Inventories Receivables Provisions Working Capital £m £m £m £m 31 December 2015 (page
Slide 12: 2016 Financial Summary
2016 FINANCIAL SUMMARY Continued good organic revenue growth in large commercial aerospace Land vehicle and industrial markets remain subdued Adjusted profit before tax of £75.3m, 24% below prior year (31% decrease on a constant currency basis) Strong free cash flow of £48.5m after investing
Slide 13: Markets & Outlook
MARKETS & OUTLOOK Full Year Results 2016
Slide 14: Senior's Markets – 2016
SENIOR’S MARKETS – 2016 27% Flexonics Division Aerospace Division 73% (32%) Heating, Ventilation & Solar 1% 3% Other (68%) (1%) (4%) Power & Energy 4% (4%) Oil and Gas 5% (7%) Passenger Vehicles 5% 45% Large Commercial Aircraft (6%) (40%) Truck & Off-Highway 9% (10%) Other Aerospace Division 5% (5%)
Slide 15: Senior's Customers – 2016
SENIOR’S CUSTOMERS – 2016 27% Flexonics Division Aerospace Division 73% (32%) Other Industrial & Aerospace 10% (68%) (13%) 12% Boeing (12%) Schlumberger 1% (1%) Emerson 2% all 1% of (2%) Group or Other Land Vehicle 8% less (8%) 10% Rolls-Royce all 1% of (10%) Caterpillar 2% Group or less (2%) Cummin
Slide 16: Large Commercial Aircraft (45% of Group)
LARGE COMMERCIAL AIRCRAFT (45% of Group) Avg.(1) Airframe Var. in avg. Shipset Value ($k) Deliveries x Avg.(1)Shipset Value ($m ) shipset value shipset 2016 Order value deliveries book 12/15 to 12/16 0 200 400 600 800 1000 1200 0 10 20 30 40 50 60 70 80 90 100 110 120 ($k) (number) ($k) 737 215 490
Slide 17: Regional and Business Jets (7% of Group)
REGIONAL AND BUSINESS JETS (7% of Group) Shipset Value ($k) Deliveries x Shipset Value ($m ) Var. in avg. Airframe shipset value 0 100 200 300 400 500 Shipset 2016 Order 0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 12/15 to 12/16 value ($k) deliveries book ($k) GL 5000/6000 Bombardier 285 51 ? +8 GL 500
Slide 18: Military and Defence (14% of Group)
MILITARY AND DEFENCE (14% of Group) Shipset Value ($k) (1) Avg.(1) Airframe Deliveries x Avg. Shipset Value ($m ) Var. in avg. shipset 2016 shipset value 0 200 400 600 800 1000 value deliveries 0 2 4 6 8 10 12 14 16 18 20 22 24 26 12/15 to 12/16 ($k) (number) ($k) C-130J 952 24 +1 C-130J Black Haw k
Slide 19: Truck and Off-Highway (9% of Group)
TRUCK AND OFF-HIGHWAY (9% of GROUP) North American Truck and Off-Highway (6% of Group) North American Class 8 Truck Production Forecast (Thousands) 350 9% 2016 compared to 2015: 300 9% 21% 21% 0% Market - N. Am. Class 8 truck production 29% 65% -9% 250 -11% -29% to 18% - N. Am. Class 8 truck sales
Slide 20: Passenger Vehicles (5% of Group)
PASSENGER VEHICLES (5% of GROUP) European Passenger Cars (4% of Group) ROW Passenger Cars (1% of Group) EU Passenger Car Production Forecast (Millions) 2016 compared to 2015: 20 18 3% 1% 1% 0% 0% -8% 9% 2% 5% 7% 16 -6% 1% North America: -12% 14 Market - production 2%; sales 2% 12 (1) Group - sal
Slide 21: Industrial (13% of Group)
INDUSTRIAL (13% of Group) Units Oil Price and Rig Count $ 4000 120 Group 2016 sales compared to 2015(1) 3500 100 3000 80 Oil & Gas (5% of Group): 2500 Total sales 31%; organic 35% (£23.4m) 2000 60 Lower oil and gas related demand and non-repeat of 1500 40 large petrochemical project from 2015 10
Slide 22: Operational Review
OPERATIONAL REVIEW Aerospace Flexonics Global footprint continues to provide Flexonics headcount has reduced by 281 opportunities for growth, as a result of (10%) since June 2015, net of an increase investment in Thailand, Malaysia, Mexico, of 108 employees in Mexico, India and the California a
Slide 23: Group 2017 Outlook
GROUP 2017 OUTLOOK Aerospace Flexonics Further revenue growth as new Production of North American Class 8 trucks is programmes ramp-up; however, impacted forecast to decline further in 2017, largely as a by recently announced reductions in 777 result of excess truck capacity build rates, MRJ del
Slide 24: Group Longer-Term Outlook
GROUP LONGER-TERM OUTLOOK Future prospects for the Aerospace Division are visible and remain strong Well positioned to resume growth when markets recover in the Flexonics Division Streamlining actions expected to deliver annualised savings of £4m across the Group from 2018 Strategic prioriti
Slide 25: Any Questions?
ANY QUESTIONS? Full Year Results 2016
Slide 26: Appendices
APPENDICES Full Year Results 2016
Slide 27: Group Evolution
GROUP EVOLUTION Revenue (£m) Adjusted Operating Profit (£m) Adjusted Operating Margin (%) 1000 120 18 Total after central costs 900 16 100 800 Total after central costs 14 700 80 12 600 10 500 60 8 400 300 40 6 200 4 20 100 2 0 0 0 2012 2013 2014 2015 2016 2012 2013 2014 2015 2016 2012 2013 2014 201
Slide 28: EU and North America
EU and North America Senior is an international 2016 split Sales OP Employees manufacturing Group with 33 N. America 62% 68% 3,122 operations in 14 countries UK 15% 4% 1,493 Within Europe, Senior has 12 Rest of Europe 12% 12% 1,146 operations across 5 countries, Rest of World 11% 16% 1,693 inclu
Slide 29: Changes in Accounting Standards IFRS 15 / 16
CHANGES IN ACCOUNTING STANDARDS IFRS 15 / 16 IFRS 15 Revenue IFRS 16 Leases Requires the recognition of revenue in a Requires lessees to recognise assets and manner that depicts the transfer of goods or liabilities for all leases, unless the lease term is 12 services to customers months or less
Slide 30: Exchange Rates
EXCHANGE RATES Profit and Loss Account Balance Sheet Average Rates Period End Rates 2016 2015 Change 2016 2015 Change £ : US Dollar 1.36 1.53 +12.5% 1.24 1.47 +18.5% £ : Euro 1.23 1.37 +11.4% 1.17 1.36 +16.2% £ : Rand 19.89 19.56 -1.7% 16.90 22.84 +35.1% Euro : Rand 16.17 14.28 -11.7% 14.44 16.79 +1
Slide 31: Currency Effect
CURRENCY EFFECT Translation FULL YEAR Impact on FY 2015(1) (£m) Avg. Avg. FY FYF Adj. 2015 Rates to GBP 2016 Revenue PBT(2) 1.53 US $ 1.36 65.7 8.1 1.37 Euro € 1.23 9.1 0.5 19.56 South African Rand 19.89 (0.2) (0.1) 52.34 Thai Baht 47.81 2.6 0.3 5.08 Brazilian Real 4.74 0.4 - 1.95 Canadian $ 1.80 0.
Slide 32: Division Results – As Reported
DIVISION RESULTS – AS REPORTED Revenue £m Adj Operating Profit(1) £m Margin(1) on Revenue 2016 2015 Currency 2016 2015 Currency 2016 2015 Impact(2) Impact(2) Aerospace 665.2 575.0 54.9 74.8 76.8 6.8 11.2% 13.4% Flexonics 252.1 274.9 27.5 20.7 39.4 4.1 8.2% 14.3% Share of JV - - - 0.7 0.4 - - - Inter
Slide 33: Geographic Results – As Reported
GEOGRAPHIC RESULTS – AS REPORTED Revenue £m Adj Operating Profit(1) £m Margin(1) on Revenue 2016 2015 Currency 2016 2015 Currency 2016 2015 Impact(2) Impact(2) North America 567.7 534.8 66.5 64.1 73.7 9.3 11.3% 13.8% United Kingdom 142.6 138.8 - 7.5 20.6 - 5.3% 14.8% Rest of Europe 107.5 93.1 10.8 1
Slide 34: Earnings per Share and Dividends
EARNINGS PER SHARE AND DIVIDENDS 2016 2015 Change Average number of shares Basic 418.8m 418.3m +0.5m Fully diluted 419.3m 422.7m -3.4m Adjusted earnings per share (1) Basic 14.37p 18.98p -24% Fully diluted 14.36p 18.78p -24% 2016 2015 Dividends (pence per share) Interim 1.95p 1.84p +6% Final 4.62p 4
Slide 35: Working Capital
WORKING CAPITAL Balance Sheet Cash Flow Payables & Inventories Receivables Provisions Working Capital £m £m £m £m 31 December 2015 (page 10) 126.9 140.6 (139.6) Movements in period: Aerospace 7.3 (0.5) (2.9) (3.9) Flexonics (0.9) (5.9) 3.9 2.9 Holding companies - (0.9) 0.3 0.6 Foreign exchange effec
Slide 36: Free Cash Flow
FREE CASH FLOW 2016 2015 £m £m Operating profit 65.8 72.3 Share of JV (0.7) (0.4) Depreciation 32.5 26.5 Amortisation of intangible assets from acquisitions 19.8 12.2 Amortisation of other intangible assets 1.7 1.3 Loss on sale and write-down of fixed assets - 1.5 Costs on disposal of business (0.3)
Slide 37: Change in Net Debt
CHANGE IN NET DEBT 2016 2015 £m £m Free cash flow (page 36) 48.5 51.7 Dividends (26.4) (24.3) Acquisitions (net of cash & o/d acquired) - (103.9) Proceeds on disposal of business 1.3 - Loan to JV 0.5 (0.1) Purchase of shares by employee benefit trust (1.1) (0.9) Net cash inflow / (outflow) 22.8 (77.
Slide 38: Gross Capital Expenditure
GROSS CAPITAL EXPENDITURE 2016 2015 Capex Depn (1) Capex Depn (1) £m £m £m £m Aerospace 40.1 23.5 38.2 18.2 Flexonics 12.2 10.5 9.7 9.4 Holding Companies 0.5 0.2 0.7 0.2 Total 52.8 34.2 48.6 27.8 (1) Depreciation of £32.5m (2015: £26.5m) and amortisation of computer software of £1.7m (2015: £1.3m).
Slide 39: Usage of Credit Facilities – December 2016
USAGE OF CREDIT FACILITIES – December 2016 Usage by Currency Interest Facility Usage £ $ € Other % £m £m Private placements: US $60.0m (Oct 2025) 3.75% 48.4 48.4 - 48.4 - - US $20.0m (Oct 2022) 3.42% 16.1 16.1 - 16.1 - - US $20.0m (Oct 2020) 6.94% 16.1 16.1 - 16.1 - - US $75.0m (Oct 2018) 6.84% 60.5
Slide 40: Maturity Profile of Credit Facilities
MATURITY PROFILE OF CREDIT FACILITIES Repaid £5m and rolled-forward £20m term loans in March 2016 In July 2016 the committed Harris facility was rolled-forward to June 2018 and increased by $10m In October 2016 the RCF facility was extended to March 2019 (£20m) and November 2021 (£60m) $30m
Slide 41: Covenants
COVENANTS Dec 2016 Jun 2016 Dec 2015 Jun 2015 Net Debt £198.1m £207.3m £194.6m £145.5m Net interest (1) - rolling 12 months £10.1m £9.0m £8.4m £8.2m EBITDA (1) - rolling 12 months £119.6m £130.0m £140.1m £145.7m Interest cover (to exceed 3.5 times) 11.8 x 14.4 x 16.7 x 17.8 x Net Debt to EBITDA(1) (
Slide 42: Pensions
PENSIONS 12 Months 2016 2015 UK USA Various Funded Funded Unfunded Total Total £m £m £m £m £m Scheme assets 255.4 42.0 - 297.4 299.8 Scheme liabilities (256.0) (48.5) (5.5) (310.0) (319.6) IAS19 Scheme deficit at 31 Dec 2015 (0.6) (6.5) (5.5) (12.6) (19.8) Current service cost - (0.4) (0.5) (0.9) (0
Slide 43: Senior's Locations
SENIOR’S LOCATIONS UK Rickmansworth H.O 2016 split Sales OP Massachusetts Crumlin Metal Bellows N. America 62% 68% Lymington Canada BWT (incl. Atlas) UK 15% 4% SF Canada Bird Bellows Thermal Rest of Europe 12% 12% Wisconsin Weston EU Rest of World 11% 16% GA Germany Washington SF GmbH AMT Czech Repu
Slide 44: Areas of Strategic Focus
AREAS OF STRATEGIC FOCUS Autonomous Autonomous and and High Performance Operating Focus Focus on on Growth Growth Collaborative Collaborative Business Business Model Model System Empowerment and Outgrow our end markets by: Implementing a high performance accountability operating system. Key elemen
Slide 45: Areas of Strategic Focus
AREAS OF STRATEGIC FOCUS Competitive Cost Country Considered and Effective Talent Development Strategy Capital Deployment Enhance global footprint to ensure The executive team continually A strong focus on improving businesses stay competitive at a reviews investment priorities organisational capabi
Slide 46: Acquisition Framework
ACQUISITION FRAMEWORK More Likely Less Likely Fluid Systems Structures New Markets Division Flexonics Large Commercial Rotorcraft Reg Jet Biz Jet VLJ Market Defence Energy Nuclear Truck Automotive Renewables General Industrial Medical Semi-conductor Aero Ducting Structural Composites Control Bellows
Slide 47: Senior's Products – 2016
SENIOR’S PRODUCTS – 2016 27% Flexonics Division Aerospace Division 73% (32%) Other machined parts 4% (68%) (5%) Industrial flexible parts 9% (11%) 22% Airframe structural parts Off-highway hydraulics (LV) 1% (21%) (1%) Exhaust flexes (LV) 3% (3%) Fuel distribution (LV) 4% (4%) Emission control (LV)
Slide 48: Aerospace Division
AEROSPACE DIVISION Full Year Results 2016
Slide 49: Aerospace – Orders and Deliveries
AEROSPACE – ORDERS AND DELIVERIES Deliveries Net Orders Order Book Large Commercial Dec Dec Dec Dec Aircraft 2016 2015 2014 2013 2016 2015 2014 2013 2016 2015 2014 2013 Boeing 748 762 723 648 668 768 1,432 1,355 5,715 5,795 5,789 5,080 Airbus 688 635 629 626 731 1,080 1,456 1,503 6,874 6,831 6,386 5
Slide 50: Aerospace – Large Commercial Aircraft Backlog
AEROSPACE – LARGE COMMERCIAL AIRCRAFT BACKLOG Boeing backlog by region: Dec 2016 Airbus backlog by region: Dec 2016 Australasia Australasia 1% 2% Undisclosed 13% Asia ex-India, 21% China Exec. & Private Jets 16% Asia ex-India, & Undisclosed China 5% China 31% 2% India 3% China 8% India 10% Middle Ea
Slide 51: Aerospace Division: A Summary
AEROSPACE DIVISION: A SUMMARY 2016 2015(2) Change 19 Operations Revenue £665.2m £629.9m +5.6% NAFTA 10 Europe 3 Adjusted Operating Profit(1) £74.8m £83.6m -10.5% UK 4 Adjusted Operating Margin(1) 11.2% 13.3% -2.1ppts ROW 2 Markets Customers Space & Non Military 7% Other Helicopter 2% 17% Boeing Regi
Slide 52: Shipset Value Progression – Large Commercial Aircraft
SHIPSET VALUE(1) PROGRESSION – LARGE COMMERCIAL AIRCRAFT $k % CAGR 1000 900 -3% +29% 800 700 Share of T1000 adjusted to 50% +3% 600 +6% 500 400 +8% 300 +5% +4% 200 +3% 100 0 737 737 MAX 787 A320 A320neo A330 A330neo A350 Dec-06 Dec-07 Dec-08 Dec-09 Dec-10 Dec-11 Dec-12 Dec-13 Dec-14 Dec-15 Dec-16 (1
Slide 53: Shipset Value Progression – Regional, Business and Military
SHIPSET VALUE(1) PROGRESSION – Regional, Business and Military $k % CAGR 1000 +17% 900 800 +6% 700 600 +5% 500 400 +20% Sikorsky insourcing +8% 300 +5% 200 +4% 100 0 G5000/6000 CSeries MRJ Black Hawk C-130J JSF (F-35) A400M Dec-06 Dec-07 Dec-08 Dec-09 Dec-10 Dec-11 Dec-12 Dec-13 Dec-14 Dec-15 Dec-16
Slide 54: Aerospace – Operations
AEROSPACE – OPERATIONS Sales as a % of Division Operation Location 2016 2015 Senior Aerospace AMT Seattle, USA 17% 18% Senior Aerospace Ketema San Diego, USA 10% 11% Senior Aerospace Weston EU Colne, UK 6% 7% Senior Aerospace Jet Products San Diego, USA 6% 7% Senior Aerospace Thailand Chonburi, Thai
Slide 55: Fluid Conveyance: Low Pressure Ducting
Fluid Conveyance: Low Pressure Ducting Engineered Silencer Duct Assembly Low Pressure Ducting Cabin Assembly Low Typical Regional Pressure Ducting Layout Ducting Engineered Assemblies Composite Duct Assembly Low Pressure Low Pressure Ducting Ducting Cabin Assembly Typical Business Jet Assembly Ducti
Slide 56: Fluid Conveyance: High Pressure Ducting
Fluid Conveyance: High Pressure Ducting HP Bleed Air Duct Welded Duct Assemblies Engineered Solutions Typical Bizjet Engine Bleed Ducting HP Bleed Air Duct Typical Wing Duct Products Bombardier CSeries High Pressure Ducting Layout Main Operations: SSP, Steico, Bird Bellows, Calorstat Main Customers:
Slide 57: Fluid Conveyance: Aerospace Control Products
Fluid Conveyance: Aerospace Control Products Hydraulic System Couplings Control Actuators Hydraulic Bellows Accumulators Pressure/Temp Sensors Hydraulic Control Manifold Compressor Assembly Main Operations: Metal Bellows, Calorstat, Bird Bellows, Ermeto Main Customers: Airbus, Boeing, Lockheed Marti
Slide 58: Fluid Conveyance: Non-Aerospace Control Products
Fluid Conveyance: Non-Aerospace Control Products Pin Lift Actuator Bellows Assembly (Semi-Conductor) (Nuclear industry) Process Control Valves Drug Pump Implant (Chemical process) (Medical) Main Operations: Calorstat, Metal Bellows, Ermeto, Bird Bellows Main Customers: AECL Nuclear, Volvo, LAM Indus
Slide 59: Gas Turbine Engines: Fluid Systems
Gas Turbine Engines: Fluid Systems Hydraulic/Fuel Feed Manifolds Active Clearance Control System Engine Bleed Ducting Bellows Face Seal Static Seal Main Operations: Bosman, Ermeto, Metal Bellows, Bird Bellows, SSP, Thermal Main Customers: Rolls-Royce, Snecma, MTU, UTC (Pratt & Whitney) Full Year Res
Slide 60: Gas Turbine Engine: Engine Components
Gas Turbine Engine: Engine Components 307 Combustion Silencer Case (Dassault 7X) TFE 731 Lear Typical Gas Turbine Jet/Hawker Front Aero-engine F-35 Front Strutted Frame Case Trent 1000 Engine Casing Trent 1000 Combustor Aerofoil for gas TFE 731 Learjet/Hawker (B787) Case (B787) turbine engine Bearin
Slide 61: Structures: Airframe
Structures: Airframe 747 Frame 787 Aft Engine 737 Main Landing Gear Support Assy. Wheel Well Pylon 747-8 Fuselage Fan Cowl component 737 Boeing Wing Ribs Main Operations: AMT, Absolute, Damar, Mexico, Weston, S A Thailand, S A Upeca Main Customers: Boeing, Spirit, UTC (Goodrich) Full Year Results 20
Slide 62: Structures: Assemblies
Structures: Assemblies 737 Air Inlet (2ea) 737 Wing to Body Ram Air 767 Engine Pylon Frame (Birdcage) 787 Wing to Body Frame Premium Seat Chassis Main Operations: AMT, Weston, S A Thailand Main Customers: Boeing, Spirit, Zodiac Full Year Results 2016 Page 62
Slide 63: Structures: Nacelles
Structures: Nacelles B777 Engine Nacelle Housing 777 Load Share Ring GE 90 Inlet Attach Rings (B777) CF34-10 Torque Box Ring, 737 Cascade (Embraer 190) Support Ring Thrust Reverser Detail Main Operations: Jet, Ketema, Thermal Main Customers: Boeing, Goodrich, Spirit, Middle River (GE) Full Year Resu
Slide 64: Structures: Helicopter Transmissions
Structures: Helicopter Transmissions Sikorsky UH60 Blackhawk Sikorsky S-92 Rotorcraft UH60 Blackhawk Housing Assy. Blackhawk Gear Housing Assy. S-92 Swash Plate Guide S-92 Carrier Assy. Blackhawk Carrier Assy. Blackhawk Spindle Main Operations: S A Connecticut Main Customers: Lockheed Martin (Sikors
Slide 65: Flexonics Division
FLEXONICS DIVISION Full Year Results 2016
Slide 66: Flexonics Division: A Summary
FLEXONICS DIVISION: A SUMMARY 2016 2015(2) Change 14 Operations Incl JV NAFTA 4 Revenue £252.1m £302.4m -16.6% Europe 3 Adjusted Operating Profit(1) £20.7m £43.5m -52.4% UK 2 ROW 4 Adjusted Operating Margin (1) 8.2% 14.4% -6.2ppts China JV 1 Markets Customers 2% Aerospace Other Industrial 11% 14% Cu
Slide 67: Flexonics – Operations
FLEXONICS – OPERATIONS Sales as % of Division Operation Location 2016 2015 Senior Flexonics Bartlett Chicago, USA & Saltillo, Mexico 21% 25% Senior Flexonics Pathway San Antonio & Maine, USA 15% 19% Senior Flexonics Germany Germany 12% 9% Senior Flexonics GA Milwaukee, USA 10% 9% Senior Flexonics Bl
Slide 68: Land Vehicle Emission Control
Land Vehicle Emission Control Common Rails Tubes Turbo-oil feed and drain High Pressure Fuel Lines Exhaust Bellows EGR Coolers/Heat Diesel fuel injector components Exchangers Main Operations: Bartlett, GA, Germany, Blois, Cape Town, Sao Paulo, New Delhi Main Customers: Cummins, Perkins, CAT, MAN, Sc
Slide 69: Industrial Process Control (1)
Industrial Process Control (1) Metal Expansion Joints Fabric Expansion Joints Refineries Steel Mills Power Generation Dampers/Diverters Oilfield Services Flow Control Valve Oil & Gas Directional Drilling Equipment Packers Bodies Main Operations: Pathway, S F Upeca, LPE Main Customers: US domestic op
Slide 70: Industrial Process Control (2)
Industrial Process Control (2) Vacuum Seal Bellows Flexible Tubes & Hoses CSP - Solar Troughs RotationFlex ® Instrument Control Medical Heat Fuel Cells – Dielectric Bellows Exchangers for fuel delivery Main Operations: Bartlett, Canada, Germany, Crumlin Main Customers: Medtronics, Valliant, Rioglass
Slide 71: Index
INDEX Presentation Appendices Financial highlights 4 Group evolution 27 2016 at a glance 5 EU and North America 28 Aerospace results - constant exchange rates 6 IFRS 15 and 16 29 Flexonics results - constant exchange rates 7 Exchange rates 30 Adjusted and reported profit 8 Currency effect 31 Cash fl