Slide 1: Interim Results 2016
INTERIM RESULTS 2016 Interim Results 2016
Slide 2: Agenda
AGENDA Introduction David Squires CEO 2016 Interim Results Derek Harding FD Markets & Outlook David Squires CEO Interim Results 2016
Slide 3: Cautionary Statement
2016 INTERIM 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 six months ended 30 June 2016. These statements should therefore be treated w
Slide 4: Financial Highlights
FINANCIAL HIGHLIGHTS constant H1 2016 H1 2015 Change currency Revenue £450.5m £434.5m +4% -1%(1) Adjusted Operating Profit £47.2m £56.2m -16% -20%(2) Adjusted Operating Margin 10.5% 12.9% -2.4ppts -2.4ppts(3) Adjusted Profit before Tax £42.3m £52.1m -19% -23% Adjusted Earnings per Share 8.07p 9.86p
Slide 5: H1 2016 at a Glance
H1 2016 AT A GLANCE £m 490 Revenue 6.8 (30.9) Large Commercial £17.2m 480 Regional Jet £3.8m 18.6 Business Jet £(7.5)m 470 Military £(3.8)m 460 21.5 Other £(2.9)m 450.5 450 LPE - £4.3m Steico - £14.3m Truck & Off-highway £(13.2)m 440 434.5 Oil and Gas £(14.1)m Power & Energy £(4.1)m
Slide 6: Aerospace Results – Constant Exchange Rates
AEROSPACE RESULTS – constant exchange rates(2) £m 340 Revenue Growth H1 2015 to H1 2016 £m H1 2016 H1 2015 Change 17.2 (3.7) 14.3 323.8 320 (3.8) (2.9) 309.5 Revenue 323.8 302.7 +7.0% 302.7 300 Adj OP(1) 41.1 39.8 +3.3% 280 Margin 12.7% 13.1% -0.4ppts 260 Organic(3) 240 Revenue 309.5 302.7 +2.2% 220
Slide 7: Flexonics Results – Constant Exchange Rates
FLEXONICS RESULTS – constant exchange rates(2) £m Revenue Growth H1 2015 to H1 2016 160 £m H1 2016 H1 2015 Change 155 153.5 (13.2) Revenue 126.9 153.5 -17.3% 150 145 Adj OP(1) 10.8 23.2 -53.4% (0.4) (17.2) 140 Margin 8.5% 15.1% -6.6ppts 135 130 4.3 126.9 Organic(3) 125 (0.1) 122.6 Revenue 122.6 153.
Slide 8: Adjusted and Reported Profit
ADJUSTED AND REPORTED PROFIT H1 H1 2016 2015 Change £m £m Adjusted operating profit 47.2 56.2 -16% (-20% on constant currency basis) Net interest payable – borrowings and cash (4.8) (3.9) – retirement benefits (0.1) (0.2) Adjusted profit before tax 42.3 52.1 -19% (-23% on constant currency basis) Ta
Slide 9: Cash Flow and Use of Funds
CASH FLOW AND USE OF FUNDS £m 75 Gross capex £(22.8)m 16.1 (0.5) Disposal proceeds £0.5m 65 (12.9) Gross capex of £22.8m includes: £5.1m – Thailand, for 787 and A350 55 £1.7m – Malaysia, for A350 (22.3) £1.0m – India, for new EGR cooler facility 47.2 £2.4m – USA, for 737 ramp-up 45 35 (4.4) 25 (4.5)
Slide 10: Balance Sheet
BALANCE SHEET June Dec June 2016 2015 2015 £m £m £m Goodwill and other intangible assets 373.4 356.6 325.5 FX Impact from Dec 2015 Investment in JV 1.2 1.1 0.9 £m Property, plant and equipment 233.5 206.6 175.7 Non current assets 47.4 Other long-term assets 8.9 8.1 2.2 Working capital 9.2 Non curren
Slide 11: Working Capital
WORKING CAPITAL Working capital as a % of revenue 18.0% 0.6% 17.3% 17.0% 1.8% (1.2)% 1.0% 16.0% 15.1% 15.0% 14.0% 13.0% 12.0% 11.0% 10.0% Dec-15 Receivables Payables Inventories FX Jun-16 Working capital increased from 15.1% to 17.3% of sales at 30 June 2016 0.6% of this increase was due to exch
Slide 12: H1 2016 Financial Summary
H1 2016 FINANCIAL SUMMARY Aerospace performance in line with expectations with good organic growth in large commercial Market conditions for the Flexonics Division remain subdued, mitigating actions continue Adjusted profit before tax of £42.3m, 19% below prior year (23% decrease on a constant
Slide 13: Markets & Outlook
MARKETS & OUTLOOK Interim Results 2016
Slide 14: Senior's Markets – H1 2016
SENIOR’S MARKETS – H1 2016 28% Flexonics Division Aerospace Division 72% (34%) Heating, Ventilation & Solar 1% 3% Other Industrial (66%) (1%) (4%) & Aerospace Power & Energy 4% (4%) Oil and Gas 5% (8%) Passenger Vehicles 6% 45% Large Commercial Aircraft (6%) (40%) Truck & Off-Highway 9% (11%) Other
Slide 15: Senior's Customers – H1 2016
SENIOR’S CUSTOMERS – H1 2016 28% Flexonics Division Aerospace Division 72% (34%) Other Industrial & Aerospace 10% (66%) (13%) 13% Boeing (11%) Schlumberger 1% (2%) Emerson 2% all 1% of (2%) Group or Other Land Vehicle 7% less (8%) 10% Rolls-Royce (10%) Caterpillar 2% (2%) Renault 2% (1%) Cummins 4%
Slide 16: Large Commercial Aircraft (45% of Group)
LARGE COMMERCIAL AIRCRAFT (45% of Group) Shipset Value ($k) Avg.(1) Airframe H1 Deliveries x Avg.(1) Shipset Value ($m ) Var. in avg. shipset H1 2016 Order shipset value 0 200 400 600 800 1000 1200 value deliveries book 0 10 20 30 40 50 60 12/15 to 6/16 ($k) (number) ($k) 737 227 248 1,167 -9 737 78
Slide 17: Regional and Business Jets (8% of Group)
REGIONAL AND BUSINESS JETS (8% of Group) Shipset Value ($k) H1 Deliveries x Shipset Value ($m ) Var. in avg. Airframe shipset value 0 100 200 300 400 500 Shipset H1 2016 Order 0 1 2 3 4 5 6 12/15 to 6/16 value ($k) deliveries book ($k) GL 5000/6000 Bombardier 285 19 (1) ? +8 GL 5000/6000 CRJ700/900
Slide 18: Military and Defence (13% of Group)
MILITARY AND DEFENCE (13% of Group) Airframe Shipset Value ($k) (1) Avg.(1) Estimated Estim ated H1 Deliveries x Avg. Shipset Value ($m ) Var. in avg. shipset H1 2016 shipset value 0 200 400 600 800 1000 value deliveries 0 2 4 6 8 10 12 12/15 to 6/16 ($k) (number) ($k) C-130J 952 12 +1 C-130J Black
Slide 19: Truck and Off-Highway (9% of Group)
TRUCK AND OFF-HIGHWAY (9% of GROUP) North American Med/Heavy Truck (5% of Group) North American Off-Highway (2% of Group) North American Class 8 Truck Production Forecast (Thousands) H1 2016 compared to H1 2015: 350 9% 13% Market - sales 31% 21% (1) 300 9% 11% Group - N. Am. off-highway sales 31
Slide 20: Passenger Vehicles (6% of Group)
PASSENGER VEHICLES (6% of GROUP) European Passenger Cars (5% of Group) ROW Passenger Cars (1% of Group) EU Passenger Car Production Forecast (Millions) H1 2016 compared to H1 2015: 20 18 1% 1% 9% 2% 5% 7% 4% 16 -8% North America: -12% -6% 1% 14 Market - production 6%; sales 6% 12 (1) Group - sal
Slide 21: Industrial (13% of Group)
INDUSTRIAL (13% of Group) Oil Price and Rig Count Declines $ 4000 120 Group H1 2016 sales compared to H1 2015(1) 3500 100 3000 Oil and Gas (5% of Group): 2500 80 Total sales 34%; organic 42% (£14.1m) 2000 60 Lower oil and gas related demand and non-repeat of 1500 large petrochemical project from
Slide 22: Operational Review
OPERATIONAL REVIEW Aerospace Flexonics Global footprint continues to provide Near-term cost management actions have opportunities for growth, as a result of included headcount reductions, reduced investment in Thailand, Malaysia, Mexico, overtime, discretionary spend management California and So
Slide 23: Strategic Priorities
STRATEGIC PRIORITIES The Group’s overall strategy remains unchanged Strategic Priorities: 2016 Progress Enhance Senior’s autonomous and collaborative business model Focus on growth Introduce a high performance operating system Competitive cost country strategy Considered and effective capital deploy
Slide 24: Group Outlook
GROUP OUTLOOK Expectations for full year 2016 performance unchanged Future prospects for the Aerospace Division are visible and remain strong Continuing focus on short-term cost management actions in Flexonics Acceleration of longer-term structural cost improvements centred around Senior’s c
Slide 25: Any Questions?
ANY QUESTIONS? Interim Results 2016
Slide 26: Appendices
APPENDICES Interim 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 H1 2016 2012 2013 2014 2015 H1 2016 2012 2013 20
Slide 28: EU Referendum
EU REFERENDUM H1 2016 split Sales OP Employees Senior is an international N. America 63% 69% 3,196 manufacturing Group with 33 UK 15% 9% 1,407 operations in 14 countries Rest of Europe 12% 12% 1,137 Within Europe, Senior has 12 Rest of World 10% 10% 1,614 operations across 5 countries, including
Slide 29: Exchange Rates
EXCHANGE RATES Profit and Loss Account Balance Sheet Average Rates Period End Rates H1 H1 FY June June Dec 2016 2015 Change 2015 2016 2015 Change 2015 £ : US Dollar 1.42 1.53 +7.7% 1.53 1.34 1.57 +17.2% 1.47 £ : Euro 1.28 1.36 +6.3% 1.37 1.20 1.41 +17.5% 1.36 £ : Rand 21.71 18.21 -16.1% 19.56 19.58
Slide 30: Currency Effect
CURRENCY EFFECT Translation HALF YEAR Impact on H1 2015(1) (£m) Avg. Avg. H1 H1 Adj. 2015 Rates to GBP 2016 Revenue PBT(2) Translation FULL YEAR Impact on FY 1.53 US $ 1.42 20.7 2.6 2015(1) (£m) 1.36 Euro € 1.28 2.6 0.2 Avg. Avg. FY FYF Adj. 18.21 South African Rand 21.71 (1.1) (0.4) 2015 Rates to G
Slide 31: Division Results – As Reported
DIVISION RESULTS – AS REPORTED £m Revenue £m Adj Operating Profit(1) £m Margin(1) on Revenue 2016 2015 Currency 2016 2015 Currency 2016 2015 Impact(2) Impact(2) Aerospace 323.8 287.3 15.4 41.1 37.9 1.9 12.7% 13.2% Flexonics 126.9 147.4 6.1 10.8 22.3 0.9 8.5% 15.1% Share of JV - - - 0.2 0.2 - - - Int
Slide 32: Geographic Results – As Reported
GEOGRAPHIC RESULTS – AS REPORTED £m 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 282.2 272.9 20.7 34.8 38.2 2.9 12.3% 14.0% United Kingdom 68.7 70.1 - 6.5 10.6 - 9.5% 15.1% Rest of Europe 54.2 49.0 3.1 6.
Slide 33: Division Results – Half Yearly
DIVISION RESULTS – HALF YEARLY Revenue Adjusted Operating Profit (1) H1 H2 H1 H2 H1 H2 H1 H2 2016 2015 2015 2014 2016 2015 2015 2014 Aerospace 323.8 287.7 287.3 272.6 41.1 38.9 37.9 38.5 Flexonics 126.9 127.5 147.4 148.0 10.8 17.1 22.3 23.4 Inter-segment sales (0.2) (0.2) (0.2) (0.2) - - - - Share o
Slide 34: Earnings per Share and Dividends
EARNINGS PER SHARE AND DIVIDENDS H1 H1 2016 2015 Change Average number of shares Basic 418.8m 417.8m +1.0m Fully diluted 423.3m 422.6m +0.7m Adjusted earnings per share (1) Basic 8.07p 9.86p -18% Fully diluted 7.98p 9.75p -18% 2016 2015 Dividends (pence per share) Interim 1.95p 1.84p +6% Final 4.36p
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 7.2 13.2 (6.6) (13.8) Flexonics 0.3 1.7 (2.9) 0.9 Holding companies - (0.5) 0.5 - 7.5 14.4 (9.0) (12.9) Fore
Slide 36: Free Cash Flow
FREE CASH FLOW H1 H1 FY 2016 2015 2015 £m £m £m Operating profit 37.5 49.1 72.3 Share of JV (0.2) (0.2) (0.4) Depreciation 15.3 13.2 26.5 Amortisation of intangible assets from acquisitions 9.8 5.4 12.2 Amortisation of other intangible assets 0.8 0.4 1.3 (Profit)/loss on sale and write-down of fixed
Slide 37: Change in Net Debt
CHANGE IN NET DEBT Acquisition impact on net debt: H1 H1 FY LPE: £47.3m Steico: £60.3m 2016 2015 2015 £m £m £m Free cash flow (page 36) 17.3 24.7 51.7 Dividends (18.3) (16.6) (24.3) Acquisitions (net of cash & o/d acquired) - (43.6) (103.9) Proceeds on disposal of business 1.5 - - Loan to JV - - (0.
Slide 38: Gross Capital Expenditure
GROSS CAPITAL EXPENDITURE H1 2016 H1 2015 Capex Depn (1) Capex Depn (1) £m £m £m £m Aerospace 17.2 10.9 18.3 8.8 Flexonics 5.1 5.0 4.7 4.6 Holding Companies 0.5 0.2 0.3 0.2 Total 22.8 16.1 23.3 13.6 (1) Depreciation of £15.3m (H1 2015: £13.2m) and amortisation of computer software of £0.8m (H1 2015:
Slide 39: Usage of Credit Facilities – June 2016
USAGE OF CREDIT FACILITIES – June 2016 Usage by Currency Interest Facility Usage £ $ € Other % £m £m Private placements: US $60.0m (Oct 2025) 3.75% 44.8 44.8 - 44.8 - - US $20.0m (Oct 2022) 3.42% 14.9 14.9 - 14.9 - - US $20.0m (Oct 2020) 6.94% 14.9 14.9 - 14.9 - - US $75.0m (Oct 2018) 6.84% 56.0 56.
Slide 40: Maturity Profile of Credit Facilities
MATURITY PROFILE OF CREDIT FACILITIES Repaid £5m and rolled-forward £20m term loans in March 2016 Net Debt:EBITDA = 1.6x On 20 July 2016 the committed Harris facility was rolled-forward to June 2018 and increased by $10m £m 280 Net debt 260 Jan - £22m Jun 16 - £207.3m £72m headroom 240 Mar - £
Slide 41: Covenants
COVENANTS Jun 2016 Dec 2015 Jun 2015 Dec 2014 Net Debt £207.3m £194.6m £145.5m £105.0m Net interest (1) - rolling 12 months £9.0m £8.4m £8.2m £8.5m EBITDA (1) - rolling 12 months £130.0m £140.1m £145.7m £137.8m Interest cover (to exceed 3.5 times) 14.4 x 16.7 x 17.8 x 16.2 x Net Debt to EBITDA(1) (n
Slide 42: Pensions
PENSIONS 6 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 - (0.2) (0.1) (0.3) (0.
Slide 43: Senior's Locations
SENIOR’S LOCATIONS UK Rickmansworth H.O H1 2016 split Sales OP Massachusetts Crumlin Metal Bellows N. America 63% 69% Lymington Canada BWT (incl. Atlas) UK 15% 9% SF Canada Bird Bellows Thermal Rest of Europe 12% 12% Wisconsin Weston EU Rest of World 10% 10% GA Germany Washington SF GmbH AMT Czech R
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 – H1 2016
SENIOR’S PRODUCTS – H1 2016 28% Flexonics Division Aerospace Division 72% (34%) Industrial & Aerospace machined parts 4% (66%) (6%) Industrial flexible parts 9% (11%) 22% Airframe structural parts Off-highway hydraulics (LV) 1% (20%) (-%) Exhaust flexes (LV) 3% (4%) Fuel distribution (LV) 4% (5%) Em
Slide 48: Aerospace Division
AEROSPACE DIVISION Interim Results 2016
Slide 49: Aerospace – Orders and Deliveries
AEROSPACE – ORDERS AND DELIVERIES Deliveries Net Orders Order Book Large Commercial H1 H1 June Dec Dec Dec Aircraft 2016 2015 2014 2013 2016 2015 2014 2013 2016 2015 2014 2013 Boeing 375 762 723 648 273 768 1,432 1,355 5,693 5,795 5,789 5,080 Airbus 298 635 629 626 183 1,080 1,456 1,503 6,716 6,831
Slide 50: Aerospace – Large Commercial Aircraft Backlog
AEROSPACE – LARGE COMMERCIAL AIRCRAFT BACKLOG Boeing backlog by region: June 2016 Airbus backlog by region: June 2016 Australasia Australasia 1% 2% 14% Asia ex-India, Undisclosed 17% Exec. & Private Jets China 17% Asia ex-India, & Undisclosed China 5%China 32% 1% China 2% India 9% India North Americ
Slide 51: Aerospace Division: A Summary
AEROSPACE DIVISION: A SUMMARY H1 2016 H1 2015(2) Change 19 Operations Revenue £323.8m £302.7m +7.0% NAFTA 10 Europe 3 Adjusted Operating Profit(1) £41.1m £39.8m +3.3% UK 4 Adjusted Operating Margin(1) 12.7% 13.1% -0.4ppts ROW 2 Markets Customers Space & Non Military 6% Other Non Aerospace Helicopter
Slide 52: Shipset Value Progression – Large Commercial Aircraft
SHIPSET VALUE(1) PROGRESSION – LARGE COMMERCIAL AIRCRAFT $k % CAGR 1000 900 -% +31% 800 700 Share of T1000 adjusted to 60% +6% 600 +7% 500 400 +9% 300 +6% +7% 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 Jun-16 (1)
Slide 53: Shipset Value Progression – Regional, Business and Military
SHIPSET VALUE(1) PROGRESSION – Regional, Business and Military $k % CAGR 1000 +18% 900 800 +7% 700 600 +5% 500 400 +21% 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 Jun-16
Slide 54: Aerospace – Operations
AEROSPACE – OPERATIONS Sales as a % of Division Operation Location H1 2016 H1 2015 Senior Aerospace AMT Seattle, USA 17% 18% Senior Aerospace Ketema San Diego, USA 10% 11% Senior Aerospace Weston EU Colne, UK 6% 8% Senior Aerospace Jet Products San Diego, USA 6% 7% Senior Aerospace Thailand Chonburi
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) Interim Resul
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) Interim Results 2016
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 Interim 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) Interim Result
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 Interim Results 2016
Slide 66: Flexonics Division: A Summary
FLEXONICS DIVISION: A SUMMARY H1 2016 H1 2015(2) Change 14 Operations Incl JV NAFTA 4 Revenue £126.9m £153.5m -17.3% Europe 3 Adjusted Operating Profit(1) £10.8m £23.2m -53.4% UK 2 ROW 4 Adjusted Operating Margin (1) 8.5% 15.1% -6.6ppts China JV 1 Markets Customers 2% Aerospace Other Industrial 11%
Slide 67: Flexonics – Operations
FLEXONICS – OPERATIONS Sales as % of Division Operation Location H1 2016 H1 2015 Senior Flexonics Bartlett Chicago, USA & Saltillo, Mexico 22% 26% Senior Flexonics Pathway San Antonio & Maine, USA 15% 17% Senior Flexonics Germany Germany 11% 9% Senior Flexonics GA Milwaukee, USA 9% 10% Senior Flexon
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, WahlcoMetroflex, S F Upeca, LPE Main Customer
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 H1 2016 at a glance 5 EU Referendum 28 Aerospace results - constant exchange rates 6 Exchange rates 29 Flexonics results - constant exchange rates 7 Currency effect 30 Adjusted and reported profit 8 Division results - as reporte