Slide 1: 2011 Annual Results Presentation
2011 Annual Results Presentation March 23, 2012
Slide 2: Frank Chan
Frank Chan 2
Slide 3: 2011 Full Year Results
2011 Full Year Results (US$m) 2010 2011 Change Sales 3,383 3,667 +8.4% GM% 32.2% 32.6% +0.4pt EBIT 167 218 +30.6% % of sales 4.9% 5.9% Net Profit 95 151 +59.0% % of sales 2.8% 4.1% EPS (cents) 5.93 9.39 +58.4% 3
Slide 4: 2011 Income Statement
2011 Income Statement (US$m) 2010 2011 Change Total Revenue 3,383 3,667 +8.4% Gross Margin 1,089 1,194 +9.6% % of sales 32.2% 32.6% Selling, distribution, advertising & warranty exp 481 510 +6.2% Administrative expenses 366 405 +10.6% Research & development cost 65 69 +7.0% Total SG&A Expenses 911 9
Slide 5: 2011 Financial Position
2011 Financial Position (US$m) 2010 2011 Change Non-current Assets 1,352 1,394 +3.1% Current Assets 1,914 1,976 +3.2% Current Liabilities 1,423 1,603 +12.6% Net Current Assets 491 373 (24.0%) Long-term Liabilities 713 513 (28.1%) Equity 1,115 1,246 +11.7% Gearing 72.9% 59.3% Interest Coverage (x) 3.
Slide 6: Proforma Debt to Equity Ratio After $40m Converted January, 2012
Proforma Debt to Equity Ratio After $40m Converted January, 2012 (US$m) Dec 2011 Dec 2011 CB Proforma Net Debt 739 (40) 699 Equity 1,246 40 1,286 Debt-to-Equity 59.3% 54.4% Ratio 6
Slide 7: Proforma Debt to Equity Ratio Assuming 100% Conversion
Proforma Debt to Equity Ratio Assuming 100% Conversion (US$m) Dec 2011 Dec 2011 CB Proforma Net Debt 739 (150) 589 Equity 1,246 150 1,396 Debt-to-Equity 59.3% 42.2% Ratio 7
Slide 8: 2011 Dec Key Financial Figures
2011 Dec Key Financial Figures (US$m) 2010 2011 Change Inventory $645 $704 +9.3% Days 70 70 - Trade Rec $580 $607 +4.6% Days 63 60 -3 days Trade Payables -$483 -$619 +28.1% Days 52 62 +10 days Net Working Capital $741 $692 -6.6% % of Sales 21.9% 18.9% -3.0pts 8
Slide 9: 2011 Debts with Fixed Maturity Profile
2011 Debts with Fixed Maturity Profile (US$m) 2010 2011 Change Cash Balance 513 460 (10.4%) Short-term Debt - Fixed 0 164 - Short-term Debt - Floating 312 112 (64.1%) Short-term Debt Total 34% 312 41% 276 (11.5%) Long-term Debt - Fixed 295 134 (54.8%) Long-term Debt - Floating 298 263 (11.7%) Long-t
Slide 10: Joe Galli
Joe Galli 10
Slide 11: 2011 Full Year Results
2011 Full Year Results (US$m) 2010 2011 Change Sales $3,383 $3,667 +8.4.% GM% 32.2% 32.6% +0.4pt SG&A% 26.9% 26.8% (0.1pt) EBIT $167 $218 +30.6% % of sales 4.9% 5.9% +1.0pt 11
Slide 12: 2011 Full Year Results
2011 Full Year Results (US$m) 2010 2011 Change EBITDA $280 $338 +20.5% EBIT $167 $218 +30.6% Net Profit $95 $151 +59.0% EPS 5.93 9.39 +58.4% 12
Slide 13: Working Capital
Working Capital (US$m) 2010 2011 Change Inventory $645 $704 +9.3% Days 70 70 - Trade Rec $580 $607 +4.6% Days 63 60 (3 days) Trade Payables -$483 -$619 +28.1% Days 52 62 +10 days Net Working Capital $741 $692 (6.6%) % of Sales 21.9% 18.9% (3.0pts) 13
Slide 14: Free Cash Flow
Free Cash Flow 2010 2011 Change ($29m) +$149m +$178m 14
Slide 15: 2011 Sales Growth
2011 Sales Growth (US$m) 2010 2011 % Growth North America $2,461 $2,648 +7.6% ROW $922 $1,019 +10.5% Total $3,383 $3,667 +8.4% 15
Slide 16: Power Tool Market Share
Power Tool Market Share Region 2009 2010 2011 US Canada EMEA ANZ LA 16
Slide 17: Industrial Park
INDUSTRIAL PARK
Slide 18: Productivity Progress
Productivity Progress $3.7B Sales $3.4B +8.4% Headcount 18,440 17,818 (3.4%) Dec 2010 Dec 2011 18 18
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Slide 20: Wie
18 Wie
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Slide 23: Test & Measurement
TEST & MEASUREMENT
Slide 24: Hand Tools
HAND TOOLS
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Slide 29: Outdoor Products
OUTDOOR PRODUCTS
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Slide 31: Lithium Outdoor
LITHIUM OUTDOOR
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