Techtronic Industries Co., Ltd. · HKEX:669
Techtronic Industries — 1H 2014 Earnings Presentation
38 slides from Techtronic Industries's earnings presentation, Aug 21, 2014
Slide 1: 2014 1H Interim Results Presentation
2014 1H Interim Results Presentation August 21, 2014
Slide 2: Frank Chan
Frank Chan
Slide 3: 1H 2014 Results
1H 2014 Results
Slide 4: 2014 1st Half Results
2014 1st Half Results (US$ m) 1H 2013 1H 2014 Change Sales $2,042 $2,250 +10.2% Gross Margin % 34.0% 35.0% +1.0pt EBIT $142 $162 +13.6% % of sales 7.0% 7.2% Net Profit $118 $136 +15.9% % of sales 5.8% 6.1% EPS (cents) 6.43₵ 7.45₵ +15.9%
Slide 5: 2014 1st Half Segment Results
2014 1st Half Segment Results (US$ m) 1H 2013 1H 2014 Change Segment Sales $1,519 $1,678 +10.5% Power Segment % 74.4% 74.6% Equip. Op Profit $128 $143 +11.2% % of sales 8.4% 8.5% Sales $523 $572 +9.3% Floorcare Segment % 25.6% 25.4% Op Profit $19 $26 +38.3% % of sales 3.6% 4.6%
Slide 6: 2014 1st Half Region Sales
2014 1st Half Region Sales (US$ m) 1H 2013 1H 2014 Change Region North $1,479 $1,585 +7.2% America Region % 72.4% 70.5% EMEA $426 $491 +15.4% Region % 20.9% 21.8% ROW $138 $174 +25.8% (Rest of World) Region % 6.7% 7.7%
Slide 7: 2014 1st Half Income Statement
2014 1st Half Income Statement (US$ m) 1H 2013 1H 2014 Change Sales $2,042 $2,250 +10.2% Gross Margin $694 $787 +13.4% % of sales 34.0% 35.0% Selling, Distribution, & Advertising $279 $319 +14.5% Administrative Expenses $227 $251 +10.6% Research & Development $48 $57 +17.7% Total SG&A Expenses $554
Slide 8: 2014 1st Half Financial Position
2014 1st Half Financial Position (US$ m) 1H 2013 1H 2014 Change Non-current Assets $1,464 $1,588 +8.5% Current Assets $2,356 $2,735 +16.1% Current Liabilities $1,741 $2,013 +15.6% Net Current Assets $615 $722 +17.5% Long-term Liabilities $435 $489 +12.4% Equity $1,636 $1,818 +11.1% Interest Coverage
Slide 9: 2014 1st Half Gearing
2014 1st Half Gearing 1H 2011 1H 2012 1H 2013 1H 2014 Gearing 66.1% 37.4% 26.2% 22.8%
Slide 10: 2014 1st Half Key Financial Figures
2014 1st Half Key Financial Figures (US$ m) 1H 2013 1H 2014 Change Inventory $818 $1,025 Days 74 83 +9 days Receivables $788 $846 Days 71 69 -2 days Payables ($861) ($1,043) Days 78 84 +6 days Net Working Capital $745 $828 % of Sales 18.4% 18.4% --- Cash Balance $573 $656 +14.4% CAPEX $47 $64 +35.3%
Slide 11: Debts with Fixed Maturity Profile
2014 1st Half Debts with Fixed Maturity Profile (US$ m) 1H 2013 1H 2014 Change Cash Balance $573 $656 +14.4% Debt with Fixed Maturities $509 $574 +12.7% Working Capital Financing $494 $496 +0.4% Total Debt $1,003 $1,069 +6.6% Total Net Debt $429 $414 (3.7%) Floating Rate 91% $907 91% $974 +7.3% Fixe
Slide 12: Joe Galli
Joe Galli
Slide 13: 2014 1st Half Sales Growth
2014 1st Half Sales Growth (US $m) 1H 2013 1H 2014 Sales $2,042 $2,250 % chg +10.2%
Slide 14: 2014 1st Half Results
2014 1st Half Results (US$ m) 1H 2013 1H 2014 Change Sales $2,042 $2,250 +10.2% Gross Margin % 34.0% 35.0% +1.0pt SG&A % 27.1% 27.9% +0.8pt EBIT $ 142 $ 162 +13.6% % of sales 7.0% 7.2% +0.2pt
Slide 15: Continuous Improvement: Gross Margin and EBIT
2014 1st Half Continuous Improvement 2011 2012 2013 2014 Gross Margin +35.0% +34.0% +33.5% +32.9% EBIT +6.4% +6.8% +7.0% +7.2%
Slide 16: 2014 1st Half Results
2014 1st Half Results (US$ m) 1H 2013 1H 2014 Change EBIT $ 142 $ 162 +13.6% Net Profit $ 118 $ 136 +15.9% EPS (cents) 6.43₵ 7.45₵ +15.9%
Slide 17: Sales Growth
2014 1st Half Sales Growth Power Equipment: + 10.5% Floorcare: +9.3%
Slide 18: 2014 1st Half Sales
2014 1st Half Sales REGION 1H 2013 1H 2014 Change NA $1,479 $1,585 +7.2% EMEA $426 $491 +15.4% ROW $138 $174 +25.8%
Slide 19: Productivity Progress
Productivity Progress $2,250 M Sales $2,042M +10.2% 20,355 Headcount 19,248 +5.8% Jun 2013 Jun 2014 19
Slide 20: Confidential Document Property of Milwaukee Electric Tool Corporation Brookfield, Wisconsin 53005
Confidential Document Property of Milwaukee Electric Tool Corporation Brookfield, Wisconsin 53005
Slide 21: Confidential Document Property of Milwaukee Electric Tool Corporation Brookfield, Wisconsin 53005
Confidential Document Property of Milwaukee Electric Tool Corporation Brookfield, Wisconsin 53005
Slide 22: Confidential Document Property of Milwaukee Electric Tool Corporation Brookfield, Wisconsin 53005
Confidential Document Property of Milwaukee Electric Tool Corporation Brookfield, Wisconsin 53005
Slide 23: Lighting Products
LIGHTING PRODUCTS Confidential Document Property of Milwaukee Electric Tool Corporation Brookfield, Wisconsin 53005
Slide 24: Confidential Document Property of Milwaukee Electric Tool Corporation Brookfield, Wisconsin 53005
Confidential Document Property of Milwaukee Electric Tool Corporation Brookfield, Wisconsin 53005
Slide 25: Confidential Document Property of Milwaukee Electric Tool Corporation Brookfield, Wisconsin 53005
Confidential Document Property of Milwaukee Electric Tool Corporation Brookfield, Wisconsin 53005
Slide 26: Accessories
ACCESSORIES Confidential Document Property of Milwaukee Electric Tool Corporation Brookfield, Wisconsin 53005
Slide 27: Hand Tools
HAND TOOLS Confidential Document Property of Milwaukee Electric Tool Corporation Brookfield, Wisconsin 53005
Slide 28: Slide 28
Slide 29: Confidential Document Property of Empire Level Mfg. Corp Mukwonago, Wisconsin 53149
Confidential Document Property of Empire Level Mfg. Corp Mukwonago, Wisconsin 53149
Slide 30: Outdoor Products
OUTDOOR PRODUCTS Confidential Document Property of Empire Level Mfg. Corp Mukwonago, Wisconsin 53149
Slide 31: Outdoor Products
OUTDOOR PRODUCTS Confidential Document Property of Empire Level Mfg. Corp Mukwonago, Wisconsin 53149
Slide 32: Slide 32
Slide 33: Slide 33
Slide 34: Floormate Steamscrub
FLOORMA/E STEAMSCRUB"2-/N-7
Slide 35: Cordless
_ ‘e Ir oe cordless
Slide 36: Lift & Go
LIFT & GO
Slide 37: Slide 37
Slide 38: Slide 38
Techtronic Industries — 1H 2014 Earnings Presentation on 6ix