《Q3Hugininfo.ppt》由会员分享，可在线阅读，更多相关《Q3Hugininfo.ppt（21页珍藏版）》请在三一办公上搜索。
1、Q3-REPORT,Presented by Peter Assam,CEO 21 November,2001,Restructuring for Growth and Profit,2,FLS Three Business Areas,The F.L.Smidth Group offers service,machines and entire production lines to the cement and minerals processing industries world wide.FLS milj supplies biomass and desulphurisation e
2、quipment,high-tech boilers and air filters for power plants and process industry.FLS Building Materials products are based on cement with global production of white cement and densit and regional activities in grey cement,concrete and fibre cement.FLS Aerospace offers nose-to-tail aircraft maintenan
3、ce with lease and repair of components.,Restructuring for Growth and Profit,3,Agenda,Spring 2000 to Fall 2001improving earnings platform and transparencyBusiness Areasmixed market conditions and outlookGroup Figuresoperational earnings and CFFO improve in Q32001 and onwardsFocus,rightsizing and cutt
4、ing debt Down revision of EBIT 2001 Forecast Adjusting to collapse in demand and no/low growth scenario,Restructuring for Growth and Profit,4,Improving Earnings Platform and Transparency,Focus and Transparencybuy back of 50%of Aalborg Portlandmerger of Aalborg Portland Holding and FLS Industriessale
5、 of RMIGSale of property,CPHImproved Earnings PlatformEngineering integration of F.L.Smidth&Co.and Fuller CompanyFLS miljs new CEO continues rightsizing FLS milj Bulk Handling to FFE Bulk Handling”Waste to Energy”closedacquisitions broaden F.L.Smidth Groups product range and strengthen turnkey skill
6、sreorganising FLS miljs APC into one global business unit,Restructuring for Growth and Profit,5,Improving Earnings Platform and Transparency,Focus and Transparencybuy back of 50%of Aalborg Portlandmerger of Aalborg Portland Holding and FLS Industriessale of RMIGSale of property,CPHImproved Earnings
7、PlatformBuilding Materialsinvesting in new white cement capacity in Sinai and Malaysia new management to turn around US concrete operationPhillippine ready mix operation closedexit concrete products in US and SpainUnicons Norwegian acquisitions fortifie lead position in Scandinavia DEH reorganises f
8、rom country set up to functions Unicon focusses on ready mix concrete,Restructuring for Growth and Profit,6,Improving Earnings Platform and Transparency,Focus and Transparencybuy back of 50%of Aalborg Portlandmerger of Aalborg Portland Holding and FLS Industriessale of RMIGSale of property,CPHImprov
9、ed Earnings PlatformAerospacenew international management teamFormula One programme reduces turntimes and cuts man hours per checkless investments improve efficiency in Rotablesfalling overheads and pay rollRestructuring to post 11 September demand,Restructuring for Growth and Profit,7,F.L.Smidth Gr
10、oup,Restructuring for Growth and Profit,8,F.L.Smidth Group,Restructuring for Growth and Profit,9,FLS milj,Restructuring for Growth and Profit,10,FLS milj,Restructuring for Growth and Profit,11,FLS Building Materials,Restructuring for Growth and Profit,12,FLS Building Materials,Restructuring for Grow
11、th and Profit,13,FLS Aerospace,Restructuring for Growth and Profit,14,Reasons for Q1-Q3-Figures-Earnings and Cash Flow,F.L.Smidth Group Deficit from Weak US-Market and Higher Execution Coststime lag between slow demand from US-market and reaction heretoQ2:order intake,back log and target intact desp
12、ite US slow downlargest order in European marketacquisitions broaden product range and strengthen turnkey skillsFFE Minerals high performance reflects restructuringafter-market sales maintain growth target Q3:satisfactory order intake despite weak markets,Restructuring for Growth and Profit,15,Reaso
13、ns for Q1-Q3-Figures-Earnings and Cash Flow,FLS miljs Order Backlog End 2000 Was Poor order intake Q1 was below expectationscost base matches order potential in next monthsQ2:order intake and outlook improves in US and Europebusiness tracks new managements planQ3:slowing order intakeorder execution
14、off track on UK project,Restructuring for Growth and Profit,16,Reasons for Q1-Q3-Figures-Earnings and Cash Flow,FLS Building Materials Usually Posts Deficit in Q1Dansk Eternit suffers from DEF 1994s receivershipSales reflect normalised weather conditions Q2:Dansk Eternits sales slip further in Denma
15、rkUS slowdown dampens Unicons profit in turnaroundCement export offsets lower demand in DenmarkInternational price pressure on white cement Down revision of earnings forecast Q3:US and Polish stand still fuels down revision,Restructuring for Growth and Profit,17,Reasons for Q1-Q3-Figures-Earnings an
16、d Cash Flow,FLS Aerospace Improves Performance in High SeasonQ2Third consecutive quarter with EBIT in blackStrong USD hikes costs in Component ManagementHigher productivity and renegotiated contracts increase earnings expectationsQ3Continuous improvement untill 11 September,Restructuring for Growth
17、and Profit,18,FLS Group Profit and Loss Account,Restructuring for Growth and Profit,19,2001 and onwards,Optimise across F.L.Smidth Groupspeed up after-market sales-spares and serviceimprove turnkey and civil engineering skillsfocus on cement and minerals segments FLS milj Grows Three Segmentsmarketi
18、ng technologies via international partnershipsuse core knowhow in new businesses on ad hoc basisHarvest Synergies between Engineering Companies Grow Key Product Areas in FLS Building Materialsexpand global production capacity in white cementconsolidate industry and specialise fibre cement plants-exp
19、and product range transfer“best practise”in Unicons One Company programme-turnaround US concrete operationleverage Densits off-shore ordersOptimise Strategic Value of FLS AerospaceDivest Non-Core Assets,Prune Balance Sheet and Cut Debt,Restructuring for Growth and Profit,20,2001 and onwards,Optimise
20、 across F.L.Smidth Groupspeed up after-market sales-spares and serviceimprove turnkey and civil engineering skillsfocus on cement and minerals segments FLS milj Grows Three Segmentsmarketing technologies via international partnershipsuse core knowhow in new businesses on ad hoc basis Harvest Synergi
21、es between Engineering Companies Grow Key Product Areas in FLS Building Materialsexpand global production capacity in white cementconsolidate industry and specialise fibre cement plants-expand product range transfer“best practise”in Unicons One Company programme-turnaround US concrete operationlever
22、age Densits off-shore ordersOptimise Strategic Value of FLS AerospaceDivest Non-Core Assets,Prune Balance Sheet and Cut Debt,Restructuring for Growth and Profit,21,Down Revision of EBIT 2001 Forecast,Forecast is lowered to DKK 200mill:FLS Aerospaces earnings fall DKK 400mill from lower revenue and r
23、estructuring to subdued volumeFLS Building Materials suffers from US slump and Polish stand stillFLS milj increases deficit due to higher execution costs and slowing order intakeF.L.Smidth Groups order back log and intake is intact with order execution now on trackUnspecified DKK 100mill mirrows significant uncertainty and risks on wide range of itemsBoard recommends a dividend of DKK 0 for 2001,
