Reliable Performance and Increasing Growth Hans-Peter Ring Chief Financial Officer EADS. North America Investor Forum New York 7 th October 2003

Save this PDF as:
 WORD  PNG  TXT  JPG

Size: px
Start display at page:

Download "Reliable Performance and Increasing Growth Hans-Peter Ring Chief Financial Officer EADS. North America Investor Forum New York 7 th October 2003"

Transcription

1 Reliable Performance and Increasing Growth Hans-Peter Ring Chief Financial Officer EADS North America Investor Forum New York 7 th October

2 Solid and Resilient Performance Financial Highlights in bn FY 01 FY 02 H1 03 Revenues EBIT* Net cash position EBIT- margin pre R&D FY 01 FY 02 H % 12.8 % 11.5 % 6.0% 7.0% 8.3% New orders Orderbook % 4.8% 4.5% * pre-goodwill amortisation and exceptional R&D in % of revenues EBIT margin 2 2

3 Productivity and Flexibility Cyclicality affects volume Capacity flexibility Cash retention programs EBIT improvement initiatives Portfolio re-balancing Increased focus on defence Reconfigure organization to quickly adapt to emerging customer needs 3 3

4 Growth Momentum Space and other commercial 1.2 years 1.3 years Commercial aviation 5.0 years 5.1 years Defense 3.7 years 6.9 years as of Dec. 02 as of June 03 Orderbook times revenues, except for Airbus (deliveries) 4 4

5 CFO Priorities Financial Flexibility Managing for Efficiency Ensuring Transparency 5 5

6 Financial Flexibility Policy: Optimizing cost of capital and ensuring financial flexibility by using diversified funding alternatives: Cash flow from operations Debt market Refundable governmental loans Governmentally funded defence programmes 6 6

7 Operational Cash Flow - Securing Organic Growth [in m] R&D net of tax** = 1,197 Capex = 1, Cash from Operating Activities* before self-funded R&D and before industrial Capex Cash from Operating Activities* after self-funded R&D and before industrial Capex Cash from Operating Activities* after self-funded R&D and after industrial Capex *) includes change in working capital requirements and launch aid variation **) assumed tax rate of 35% R&D net of tax** = 1, Capex = 2,093 Strong firms are those that invest during the downturn 7 7

8 Debt market Strong Rating Secures Debt Funding Potential 7 February 2003 Senior unsecured: A3 3 Sept 2003 Senior unsecured: A outlook stable outlook negative Leading worldwide market positions held by several of its businesses Strong balance sheet which should remain solid during the current severe downcycle in the commercial aircraft market (which is expected to last through at least 2004) Stable outlook is predicated on the favourable long-term outlook for the commercial aircraft business, and the expected gradual improvement in its defence and space businesses Removed from Credit Watch Maintenance of strong financial measures underpin rating Very strong backlog, increasing market share, gradual growth in defence activities Very conservatively leveraged balance sheet. The management has publicly pledged to maintain a strong balance sheet Liquidity should remain very satisfactory despite an increase in leverage EADS intends to retain Single-A rating 8 8

9 Debt Market Additions to Diversified Range of Debt Instruments Recent Issues Euro Bond 1.00bn (drawn) as part of EMTN program Maturity: bn (drawn) as part of EMTN program Maturity: 2018 Available EIB Loan 1.00bn (committed but undrawn) Maturity: up to 15 years Syndicated 2.85bn (committed but undrawn) Loan Maturity: 0.85 bn up to 1 year revolving Maturity: 2.00 bn up to 5 years Funding Alternatives ECP Program / Billets de Trésorerie, U.S. CP-Program, U.S. Bond market, Private Placements,

10 Refundable Governmental Loans Risk Mitigation A380 risk-sharing example (based on a total of US$10.7 bn) US$ 3.1 bn Risk sharing partners (e.g. suppliers) Cash impact of governmental loans Received Reimbursed 2002/2003 (Airbus only) [in m] US$ 2.5 bn Repayable Government Loans for 33% of R&D cost 52% US$ 5.1 bn Financing by Airbus (EADS 80%, BAe Systems 20%) 48% Jun

11 Governmentally Funded Defense Programs Commercial programs Self-financed Margins according to supply/demand Defence programs Customer financed Domestic customers cover market risk Fixed price EADS is growing its defense portfolio to balance financial risks and opportunities 11 11

12 CFO Priorities Financial Flexibility Managing for Efficiency Ensuring Transparency 12 12

13 Centralization of Treasury Functions Central Cash Pooling In order to leverage the significant cash position of the EADS group and its subsidiaries, all cash is pooled daily and invested centrally Provides an actual view on the cash position of the group, enabling control of cash consumption and cash generation Centralized Funding All debt funding activities are managed centrally on a group level Full control on debt profile and conditions - avoidance of structural subordination 13 13

14 Centralization of Treasury Functions Currency Hedging Roughly US$10 bn net exposure per year, arising from firm contracts Keep flexibility to hedge less than 100% to adapt to the business cycle US$ EADS Hedge Portfolio, as of June (6 mth) vs $ 0,95 0, ,96 0, vs $ 1, ,48 1,47 1, Centralization enables: realistic margin analysis during contract negotation phase protects margin after contract closing short and mid term planning reliability and to smooth short term currency fluctuations 14 14

15 Cost and Cash Discipline Cash and cost-improvement programs delivering further value creation Commercial Aviation Large scale efficiency program (1.5 bn recurring cost savings by 2006 at Airbus) Strict control of customer financing Outstanding gross customer financing exposure (US$bn) (excl. stipulated loss values) ,9 0,88 5,36 5,7 0,87 3,94 3,54 3,2 3,79 4,08 Defense Past restructuring pays off: Turnaround achieved, revenues and profitability growing 0,82 0,73 0,64 0, June % ATR 100% Airbus Space Restructuring to adapt capacity to market conditions 15 15

16 Transparency and Visibility Objectives EADS accounting and reporting standards and processes are based on: Reliability Transparency Realistic approach to guidance 16 16

17 Transparency and Visibility Systems and people are the key to outstanding risk management Strong commitment to shareholder interests Transparency underpins management s ability to define its vision 17 17

18 A Management Committed to Performance 18 18

19 Safe Harbor Statement Certain of the statements contained in this document are not historical facts but rather are statements of future expectations and other forward-looking statements that are based on management s beliefs. These statements reflect the Company s views and assumptions as of the date of the statements and involve known and unknown risk and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in such statements. When used in this document, words such as anticipate, believe, estimate, expect, may, intend, plan to and project are intended to identify forward-looking statements. Such forward-looking statements include, without limitation, projections for improvements in process and operations, new business opportunities, revenues and revenues growth, operating margin growth, cash flow, deliveries, launches, compliance with delivery schedules, performance against Company targets, new products, current and future markets for the Company products and other trend projections. This forward looking information is based upon a number of assumptions including without limitation: Assumption regarding demand Current and future markets for the Company s products and services Internal performance including the ability to successfully integrate EADS activities to control costs and maintain quality Customer financing Customer, supplier and subcontractor performance or contract negotiations Favourable outcomes of certain pending sales campaigns Forward looking statements are subject to uncertainty and actual future results and trends may differ materially depending on variety of factors including without limitation: General economic and labour conditions, including in particular economic conditions in Europe and North America, Legal, financial and governmental risk related to international transactions The Cyclical nature of some of the Company s businesses Volatility of the market for certain products and services Product performance risks Collective bargaining labour disputes Factors that result in significant and prolonged disruption to air travel world-wide The outcome of political and legal processes, including uncertainty regarding government funding of certain programs Consolidation among competitors in the aerospace industry The cost of developing, and the commercial success of new products Exchange rate and interest rate spread fluctuations between the Euro and the U.S. dollar and other currencies Legal proceeding and other economic, political and technological risk and uncertainties Additional information regarding these factors is contained in the Company s document de référence dated 2nd April The Company disclaims any intention or obligation to update these forward-looking statements. Consequently the Company is not responsible for any consequencies from using any of the above statements

20 Appendix 20 20

21 Net cash position as of June 2003 Positive net cash position Gross cash position 6.6 bn Reported Financial Debts 5.7 bn Net Cash position 0.9 bn and most of debts non-recourse or collaterised Reported Debt 5,7 bn (Nonrecourse Debt) Debt Excl. non-recourse 4,0 bn (Debt backed by aircraft collateral customer financing related) 0,9 bn Debt w/o collateral 21 21

22 Debt market Wide maturity spread of financial debt Total Gross Debt : 5.69 bn as of June 2003 EADS gross debt by maturity EADS gross debt by type 1,4 1,2 1,0 0,8 0,6 0,4 0,2 0,0 1Y 2Y 3Y 4Y 5Y 6Y 7Y 8Y 9Y 10Y 15Y 20Y total gross debt 1,1 0,6 0,5 2,2 1,2 Loans, liabilities and other debts Bonds Debt backed by deposit Non-recourse debt JV-Partners' share of cash deposited by EADS (BAE, Finmeccanica) 22 22

23 Airbus resists thanks to industrial flexibility Aircraft deliveries % Headcount Flexibility in Manufacturing Flextime Delivery plan before Sept11 Overtime Temporary Current Max. capacity: 380 Current rate ~ 300 a/c 20% ~ 250 ~240 Industrial flexibility ~225 (in 2005) % 8% Limited Short term subcontracting permanent Potentials (early retirement, mobility, stored work time, etc) Manufacturing (blue collar) * 20% industrial flexibility subject to SA/LR mix: ~ 70% SA / ~ 30% LR 23 23

Cash Drivers and Enterprise Value

Cash Drivers and Enterprise Value Cash Drivers and Enterprise Value Global Investor Forum 2009, Broughton, 1 st & 2 nd April 2009 Gérard Adsuar Corporate Executive Finance & Treasury, EADS 1 1 Safe Harbour Statement Disclaimer This presentation

More information

Global Investor Forum 2008

Global Investor Forum 2008 Global Investor Forum 2008 Airbus Financial Workshop Seville, 17 th / 18 th January 2008 1 Safe Harbor Statement Certain of the statements contained in this document are not historical facts but rather

More information

Q1 RESULTS 2015 30 APRIL 2015. Harald Wilhelm I Chief Financial Officer

Q1 RESULTS 2015 30 APRIL 2015. Harald Wilhelm I Chief Financial Officer 1 Q1 RESULTS 2015 30 APRIL 2015 Harald Wilhelm I Chief Financial Officer SAFE HARBOUR STATEMENT 2 Disclaimer This presentation includes forward-looking statements. Words such as anticipates, believes,

More information

9m RESULTS OCTOBER Harald Wilhelm I Chief Financial Officer

9m RESULTS OCTOBER Harald Wilhelm I Chief Financial Officer 1 9m RESULTS 2015 30 OCTOBER 2015 Harald Wilhelm I Chief Financial Officer SAFE HARBOUR STATEMENT 2 Disclaimer This presentation includes forward-looking statements. Words such as anticipates, believes,

More information

FY RESULTS 27 FEBRUARY 2015. Tom Enders I Chief Executive Officer Harald Wilhelm I Chief Financial Officer

FY RESULTS 27 FEBRUARY 2015. Tom Enders I Chief Executive Officer Harald Wilhelm I Chief Financial Officer 1 FY RESULTS 27 FEBRUARY 2015 Tom Enders I Chief Executive Officer Harald Wilhelm I Chief Financial Officer SAFE HARBOUR STATEMENT 2 Disclaimer This presentation includes forward-looking statements. Words

More information

Airbus Group Achieves Record Revenues, EBIT* And Order Backlog In 2014

Airbus Group Achieves Record Revenues, EBIT* And Order Backlog In 2014 Airbus Group Achieves Record Revenues, EBIT* And Order Backlog In Revenues increase five percent to 60.7 billion Reported EBIT* up 54 percent to 4.0 billion with a 6.7% return on sales Earnings per share

More information

Airbus Group Reports Improved Nine-Month (9m) Results 2014

Airbus Group Reports Improved Nine-Month (9m) Results 2014 Airbus Group Reports Improved Nine-Month () Results Financial performance reflects operational progress, guidance confirmed Revenues increase four percent to 40.5 billion EBIT* before one-off rises 12

More information

Airbus Group Reports Robust First Quarter 2015 Results

Airbus Group Reports Robust First Quarter 2015 Results Airbus Group Reports Robust First Quarter Results Solid operational performance supports EPS and cash flow, further enhanced by divestments Revenues 12.1 billion, EBIT* before one-off 651 million Earnings

More information

Customer Financing. Nigel Taylor SVP Customer, Project and Structured Finance. Global Investor Forum 2009, Broughton, 1 st & 2 nd April 2009

Customer Financing. Nigel Taylor SVP Customer, Project and Structured Finance. Global Investor Forum 2009, Broughton, 1 st & 2 nd April 2009 Customer Financing Nigel Taylor SVP Customer, Project and Structured Finance Global Investor Forum 2009, Broughton, 1 st & 2 nd April 2009 1 Safe Harbour Statement Disclaimer This presentation includes

More information

Annual Results 2010. Louis Gallois Chief Executive Officer. Hans Peter Ring Chief Financial Officer

Annual Results 2010. Louis Gallois Chief Executive Officer. Hans Peter Ring Chief Financial Officer Annual Results 2010 Louis Gallois Chief Executive Officer Hans Peter Ring Chief Financial Officer Safe Harbour Statement 2 Disclaimer This presentation includes forward-looking statements. Words such as

More information

A N N U A L RESULTS 27 FEBRUARY 2015 WELCOME TO THE ANNUAL PRESS CONFERENCE!

A N N U A L RESULTS 27 FEBRUARY 2015 WELCOME TO THE ANNUAL PRESS CONFERENCE! A N N U A L RESULTS 27 FEBRUARY 2015 WELCOME TO THE ANNUAL PRESS CONFERENCE! A N N U A L RESULTS 27 FEBRUARY 2015 TOM ENDERS I Chief Executive Officer HARALD WILHELM I Chief Financial Officer MARWAN LAHOUD

More information

Annual Results 2011 08 March 2012

Annual Results 2011 08 March 2012 Annual Results 2011 08 March 2012 Louis Gallois Chief Executive Officer Hans Peter Ring Chief Financial Officer Safe Harbour Statement 2 Disclaimer This presentation includes forward-looking statements.

More information

Cassidian Drivers of Business Success

Cassidian Drivers of Business Success Cassidian Drivers of Business Success Bernhard Gerwert Chief Executive Officer Cassidian Page 1 Safe Harbour Statement Disclaimer This presentation includes forward-looking statements. Words such as anticipates,

More information

PART IV. FINANCE CMD 16

PART IV. FINANCE CMD 16 PART IV. FINANCE 1 FINANCE IN SUPPORT OF STRATEGY Bernard DELPIT Group CFO 2 FINANCE IN SUPPORT OF STRATEGY Conservative accounting supporting transparency Hedging policy protecting performance Disciplined

More information

2014 HALF YEAR RESULTS 4 September 2014

2014 HALF YEAR RESULTS 4 September 2014 862m H1 2014 Revenues 2014 HALF YEAR RESULTS 4 September 2014 57% of Revenues for International in H1 2014 21,657 Employees In H1 2014 Disclaimer This presentation contains forward-looking statements (as

More information

Airbus Group. Marwan Lahoud Airbus Group, CSMO. London 10 December 2014

Airbus Group. Marwan Lahoud Airbus Group, CSMO. London 10 December 2014 1 Airbus Group Marwan Lahoud Airbus Group, CSMO London 10 December 2014 Safe Harbour Statement 2 Disclaimer This presentation includes forward-looking statements. Words such as anticipates, believes, estimates,

More information

Q2 and Half-Year 2010 Results

Q2 and Half-Year 2010 Results Q2 and Half-Year 2010 Results July 27, 2010 27.07.2010 1 Key financials in billions of Q2 2009 Q2 2010 Revenue 19.6 25.1 EBIT Net profit (loss) Earnings (loss) per share (in ) (1.0) (1.1) (0.99) 2.1 1.3

More information

Global Investor Forum Market Perspectives / Strategy. Marwan Lahoud, Chief Strategy and Marketing Officer London, 11th/12th December 2013

Global Investor Forum Market Perspectives / Strategy. Marwan Lahoud, Chief Strategy and Marketing Officer London, 11th/12th December 2013 Global Investor Forum Market Perspectives / Strategy Marwan Lahoud, Chief Strategy and Marketing Officer London, 11th/12th December 2013 Safe Harbour Statement Disclaimer This presentation includes forward-looking

More information

Financial Results Q1 2014. Jacques Purnode, Chief Finance Officer

Financial Results Q1 2014. Jacques Purnode, Chief Finance Officer Financial Results 2014 Jacques Purnode, Chief Finance Officer Forward Looking Statements This Presentation may include forward-looking statements. Forward-looking statements are statements regarding or

More information

Sappi Limited. Debt Update. September 2014. Sappi Debt Update June 2014

Sappi Limited. Debt Update. September 2014. Sappi Debt Update June 2014 Sappi Limited Debt Update September 2014 1 Forward looking statements Certain statements in this release that are neither reported financial results nor other historical information, are forward-looking

More information

Q2 / H1 2015 results. Investor Presentation 30 July 2015

Q2 / H1 2015 results. Investor Presentation 30 July 2015 Q2 / H1 2015 results Investor Presentation 30 July 2015 Information Full year consolidated financial statements at 31 December are audited Half year financial statements are subject to limited review by

More information

Fleet and funding strategy Solid foundation for growth

Fleet and funding strategy Solid foundation for growth Fleet and funding strategy Solid foundation for growth Erno Hildén, CFO Finnair Capital Markets Day, 22 May 2014 1 Disclaimer This document includes forward-looking statements. These forward-looking statements

More information

Metsä Board Debt investor presentation Q2/2015. 6 August 2015

Metsä Board Debt investor presentation Q2/2015. 6 August 2015 Metsä Board Debt investor presentation Q2/2015 Strong financing situation continues EUR million 1000 750 Net debt Gross debt EUR 671 million and net debt EUR 389 million at the end of Q2/2015 (EUR 319

More information

SAP Debt Investor Presentation First Quarter 2014 Update Call Walldorf, Germany April 28, 2014

SAP Debt Investor Presentation First Quarter 2014 Update Call Walldorf, Germany April 28, 2014 SAP Debt Investor Presentation First Quarter 2014 Update Call Walldorf, Germany April 28, 2014 Safe Harbor Statement Any statements contained in this document that are not historical facts are forward-looking

More information

Vattenfall Q2 2013 results

Vattenfall Q2 2013 results Vattenfall Q2 2013 results Øystein Løseth, CEO and Ingrid Bonde, CFO Conference call for analysts and investors, 23 July 2013 Q2 Highlights Impairment charges on thermal assets and goodwill amounting to

More information

Sappi Limited. Debt Update. March 2014. Sappi Debt Update March 2014

Sappi Limited. Debt Update. March 2014. Sappi Debt Update March 2014 Sappi Limited Debt Update March 2014 1 Forward looking statements Certain statements in this release that are neither reported financial results nor other historical information, are forward-looking statements,

More information

EADS management view on Some specific Balance Sheet items Hans Peter Ring, CFO Pierre de Bausset, SVP Investor Relations

EADS management view on Some specific Balance Sheet items Hans Peter Ring, CFO Pierre de Bausset, SVP Investor Relations EADS management view on Some specific Balance Sheet items Hans Peter Ring, CFO Pierre de Bausset, SVP Investor Relations Global Investors Forum Munich 28 th /29 th April 2003 The rationale behind this

More information

PRESENTATION TO DDF. 8 April 2014. Allan Bødskov Andersen (Group Treasurer & Head of IR) Kristian Borbos (Lead IR Manager)

PRESENTATION TO DDF. 8 April 2014. Allan Bødskov Andersen (Group Treasurer & Head of IR) Kristian Borbos (Lead IR Manager) PRESENTATION TO DDF 8 April 2014 Allan Bødskov Andersen (Group Treasurer & Head of IR) Kristian Borbos (Lead IR Manager) Disclaimer Certain statements in this presentation are based on the beliefs of our

More information

Commercial Update. John Leahy Chief Operating Officer Customers Airbus. Global Investor Forum 2009, Broughton, 1 st & 2 nd April 2009

Commercial Update. John Leahy Chief Operating Officer Customers Airbus. Global Investor Forum 2009, Broughton, 1 st & 2 nd April 2009 Commercial Update John Leahy Chief Operating Officer Customers Airbus Global Investor Forum 2009, Broughton, 1 st & 2 nd April 2009 1 1 Safe Harbour Statement Disclaimer This presentation includes forward-looking

More information

Focus on Security Business

Focus on Security Business EADS Security & Defence Focus on Security Business Hervé Guillou Head of Defence and Communications Systems Global Investor Forum 2009, Broughton, 1 st & 2 nd April 2009 1 1 Safe Harbour Statement Disclaimer

More information

Innovative Technology Solutions for Sustainability ABENGOA. Market Update

Innovative Technology Solutions for Sustainability ABENGOA. Market Update Innovative Technology Solutions for Sustainability ABENGOA Market Update November, 2014 Forward-looking Statement This presentation contains forward-looking statements (within the meaning of the U.S. Private

More information

DAIMLERCHRYSLER Q1 2007 RESULTS CONFERENCE CALL

DAIMLERCHRYSLER Q1 2007 RESULTS CONFERENCE CALL DAIMLERCHRYSLER Q1 2007 RESULTS CONFERENCE CALL Bodo Uebber Member of the Board of Management Finance & Controlling / Financial Services May 15, 2007 DaimlerChrysler Group SUMMARY Unit sales down 5% to

More information

1H15 Results Presentation July 31 st, 2015

1H15 Results Presentation July 31 st, 2015 1H15 Results Presentation July 31 st, 2015 Results Highlights Increasing visibility on revenues Strong order intake 1H15 Good operating results Operating margins increase Positive operating cash flow Working

More information

Finance. Peter Van Rossum. Chief Financial Officer September 19, 2014. SBM Offshore 2014. All rights reserved. www.sbmoffshore.com

Finance. Peter Van Rossum. Chief Financial Officer September 19, 2014. SBM Offshore 2014. All rights reserved. www.sbmoffshore.com Finance Peter Van Rossum Chief Financial Officer September 19, 2014 SBM Offshore 2014. All rights reserved. www.sbmoffshore.com Disclaimer Some of the statements contained in this presentation that are

More information

SAF-HOLLAND Annual Financial Statements 2012. Detlef Borghardt, CEO Wilfried Trepels, CFO. March 14, 2013

SAF-HOLLAND Annual Financial Statements 2012. Detlef Borghardt, CEO Wilfried Trepels, CFO. March 14, 2013 SAF-HOLLAND Annual Financial Statements 212 Detlef Borghardt, CEO Wilfried Trepels, CFO March 14, 213 Executive Summary business volume successfully expanded in 212 1 Group sales increased yoy by 3.4%

More information

Life Insurance: Focus on Quality Providers

Life Insurance: Focus on Quality Providers Life Insurance: Focus on Quality Providers 34 th Annual AIFA Conference March 2009 Peter Rubenovitch Senior Executive Vice President and Chief Financial Officer Legal Disclaimer Caution Regarding Forward-Looking

More information

Credit update. December 2014

Credit update. December 2014 Credit update December 2014 Highlights of the Third Quarter Operating environment Air France-KLM Economic environment remains weak Further currency volatility affecting revenues and results Slightly lower

More information

Focus on fleet customers SAF-HOLLAND Annual Financial Statements 2013

Focus on fleet customers SAF-HOLLAND Annual Financial Statements 2013 Focus on fleet customers SAF-HOLLAND Annual Financial Statements 213 Detlef Borghardt, CEO Wilfried Trepels, CFO March 13, 214 Agenda 1 Financials 3 2 Appendix 21 2 Executive Summary 1 2 3 Group sales

More information

March 2015 Debt Investor Update

March 2015 Debt Investor Update March 2015 Debt Investor Update E u r o p e s O n l y U l t r a L o w C o s t C a r r i e r Proven, resilient business model Europe s lowest fares/lowest unit costs Europe s No 1, Traffic Europe s No 1,

More information

Security Business a Growth Path

Security Business a Growth Path Business a Growth Path North America Investor Forum 2010 New York, 18 th March 2010 Hervé Guillou Head of EADS Defence & Communications Systems Safe Harbour Statement 2 Disclaimer This presentation includes

More information

Q3 2007 Results Conference Call October 25, 2007. Bodo Uebber. Member of the Board of Management Finance & Controlling and Daimler Financial Services

Q3 2007 Results Conference Call October 25, 2007. Bodo Uebber. Member of the Board of Management Finance & Controlling and Daimler Financial Services Q3 2007 Results Conference Call October 25, 2007 Bodo Uebber Member of the Board of Management Finance & Controlling and Daimler Financial Services Impact of Chrysler transaction YTD 2007 Cash impact:

More information

2 N D Q U A R T E R 2 0 1 6. O s l o, 1 8 J u l y 2 0 1 6

2 N D Q U A R T E R 2 0 1 6. O s l o, 1 8 J u l y 2 0 1 6 2 N D Q U A R T E R 2 1 6 O s l o, 1 8 J u l y 2 1 6 Agenda Per A Sørlie, President & CEO Highlights Business areas Outlook Per Bjarne Lyngstad, CFO Financial performance 2 Highlights 2 nd quarter 216

More information

Q1 2016 Results Conference Call

Q1 2016 Results Conference Call Q1 2016 Results Conference Call Karim Bohn, CFO 10 May 2016 PATRIZIA Immobilien AG PATRIZIA Bürohaus Fuggerstrasse 26 86150 Augsburg T +49 821 50910-000 F +49 821 50910-999 immobilien@patrizia.ag www.patrizia.ag

More information

Conference Call Q1 2009 Results

Conference Call Q1 2009 Results Conference Call Q1 2009 Results Bodo Uebber Member of the Board of Management Finance & Controlling and Daimler Financial Services Final separation from all Chrysler issues signed Daimler, Chrysler, Cerberus

More information

Investor & Analyst Presentation Acquisition of Centor US Holding Inc. Uwe Röhrhoff, CEO Rainer Beaujean, CFO Duesseldorf, July 28, 2015

Investor & Analyst Presentation Acquisition of Centor US Holding Inc. Uwe Röhrhoff, CEO Rainer Beaujean, CFO Duesseldorf, July 28, 2015 Investor & Analyst Presentation Acquisition of Centor US Holding Inc. Uwe Röhrhoff, CEO Rainer Beaujean, CFO Duesseldorf, July 28, 2015 Disclaimer 1. This presentation may contain certain forward-looking

More information

Full-year results 2014. December 02, 2014

Full-year results 2014. December 02, 2014 Full-year results 2014 December 02, 2014 Disclaimer Stabilus S.A. (the Company, later Stabilus ) has prepared this presentation solely for your information. It should not be treated as giving investment

More information

Management Discussion and Analysis of Financial Position and Operating Results

Management Discussion and Analysis of Financial Position and Operating Results Management Discussion and Analysis of Financial Position and Operating Results The purpose of this analysis is to provide the reader with an overview of how the financial position of Héroux-Devtek Inc.

More information

ManpowerGroup First Quarter Results

ManpowerGroup First Quarter Results ManpowerGroup First Quarter Results April 23, 2014 Forward-Looking Statements This presentation contains statements, including financial projections, that are forward-looking in nature. These statements

More information

Appendix. Debt Position and Debt Management

Appendix. Debt Position and Debt Management Appendix Debt Position and Debt Management BUDGET '97 BUILDING ALBERTA TOGETHER Table of Contents Debt Position and Debt Management... 349 The Consolidated Balance Sheet and Net Debt... 350 Liabilities...

More information

The following is the text of an announcement made today by HSBC Bank Malta p.l.c., a 70.03 per cent indirectly held subsidiary of HSBC Holdings plc.

The following is the text of an announcement made today by HSBC Bank Malta p.l.c., a 70.03 per cent indirectly held subsidiary of HSBC Holdings plc. We only advise on our own life assurance, pensions and unit trusts The following is the text of an announcement made today by HSBC Bank Malta p.l.c., a 70.03 per cent indirectly held subsidiary of HSBC

More information

Klöckner & Co SE. Q3 2014 Results

Klöckner & Co SE. Q3 2014 Results Klöckner & Co SE A Leading Multi Metal Distributor Gisbert Rühl CEO Marcus A. Ketter CFO Results Analysts and Investors Conference November 6, Disclaimer This presentation contains forward-looking statements

More information

Commerzbank: Operating profit more than doubled to EUR 685 m in the first quarter of 2015

Commerzbank: Operating profit more than doubled to EUR 685 m in the first quarter of 2015 Press release For business desks 7 May 2015 Commerzbank: Operating profit more than doubled to EUR 685 m in the first quarter of 2015 Revenues before loan loss provisions in the Group increased year-on-year

More information

Recall Holdings Limited 31 December 2013 Trading Update

Recall Holdings Limited 31 December 2013 Trading Update Document Management Solutions Secure Destruction Services Data Protection Services Recall Holdings Limited 31 December 2013 Trading Update February 19 th 2014 Presenters: CEO - Doug Pertz, CFO - Mark Wratten

More information

CONFERENCE CALL H1 2009. 12 August 2009

CONFERENCE CALL H1 2009. 12 August 2009 CONFERENCE CALL H1 2009 12 August 2009 Agenda Dr Margarete Haase, CFO Overview H1 2009 Key financials H1 2009 "MOVE" programme and outlook Appendix 2 Highlights of H1 2009 "MOVE" programme with very good

More information

News Release INVESTOR AND MEDIA CONTACT: George R. Kirkland Senior Vice President and Treasurer Phone: (229) 873-3830 gkirkland@sgfc.

News Release INVESTOR AND MEDIA CONTACT: George R. Kirkland Senior Vice President and Treasurer Phone: (229) 873-3830 gkirkland@sgfc. Southwest Georgia Financial Corporation 201 First Street S.E. Moultrie, GA 31768 PH: (229) 985-1120 FX: (229) 985-0251 News Release INVESTOR AND MEDIA CONTACT: George R. Kirkland Senior Vice President

More information

Recap of Recent Announcements

Recap of Recent Announcements Recap of Recent Announcements Donald Guloien President & Chief Executive Officer July 8, 2009 Legal Disclaimer Caution Regarding Forward-Looking Statements This document contains forward-looking statements

More information

Second Quarter 2015 Investor Conference Call

Second Quarter 2015 Investor Conference Call Second Quarter 2015 Investor Conference Call August 20, 2015 December 13, 2012 DRAFT 5 Safe Harbor Basis of Presentation Unless otherwise noted or unless the context otherwise requires, all references

More information

Commerzbank: Operating profit improved after nine months of 2015 to EUR 1.5 bn CET 1 ratio increased to 10.8%

Commerzbank: Operating profit improved after nine months of 2015 to EUR 1.5 bn CET 1 ratio increased to 10.8% IR release 2 November 2015 Commerzbank: Operating profit improved after nine months of 2015 to EUR 1.5 bn CET 1 ratio increased to 10.8% Operating profit in Group in third quarter at EUR 429 m (Q3 2014:

More information

Converting vision into value

Converting vision into value Converting vision into value June 10-11 2015 Karim Hajjar Chief Financial Officer Member of the Executive Committee Agenda Update on 2016 targets Cash conversion Returns 2 2016 targets confirmed Divestments,

More information

Software AG Results 1 st Quarter 2015 (IFRS, unaudited)

Software AG Results 1 st Quarter 2015 (IFRS, unaudited) Software AG Results 1 st Quarter (IFRS, unaudited) April 29, 1 Safe Harbor This presentation includes forward-looking statements based on the beliefs of Software AG management. Such statements reflect

More information

Northern Rock plc: Half Year Results 2011

Northern Rock plc: Half Year Results 2011 Press Release 3 August 2011 Northern Rock plc: Half Year Results 2011 Northern Rock has continued to build momentum during the first half of the year and considerably improved its position over 2010 The

More information

FY15 Supplemental Information January 5, 2016

FY15 Supplemental Information January 5, 2016 FY15 Supplemental Information January 5, 2016 Safe Harbor This document contains certain forward-looking statements. These statements are based on the company s current expectations as to the outcome and

More information

Investor Conference Call

Investor Conference Call Investor Conference Call Fiscal Year 2015 Third Quarter February 28, 2015 April 17, 2015 at 10:00 am ET 2 Forward-Looking Statements This presentation contains forward-looking statements, which are based

More information

Financial Overview. Olivier Dubois. Investor Presentation. President and CFO. Paris, October 17, 2007 - New York, October 19, 2007

Financial Overview. Olivier Dubois. Investor Presentation. President and CFO. Paris, October 17, 2007 - New York, October 19, 2007 Financial Overview Olivier Dubois President and CFO Investor Presentation Paris, October 17, 2007 - New York, October 19, 2007 Current situation 2 Technip financial statements FULL YEAR FIRST SEMESTER

More information

Nokia Conference Call 2Q 2012 Financial Results

Nokia Conference Call 2Q 2012 Financial Results Nokia Conference Call 2Q 2012 Financial Results July 19, 2012 15.00 Helsinki time 8.00 New York time Stephen Elop President & CEO Timo Ihamuotila CFO Matt Shimao Head of Investor Relations 1 Disclaimer

More information

Regal Beloit Corporation Third Quarter 2014 Earnings Conference Call

Regal Beloit Corporation Third Quarter 2014 Earnings Conference Call Regal Beloit Corporation Third Quarter 2014 Earnings Conference Call November 4, 2014 Mark Gliebe Chairman and Chief Executive Officer Jon Schlemmer Chief Operating Officer Chuck Hinrichs Vice President

More information

Conference Call Q1 2008 Results

Conference Call Q1 2008 Results Conference Call Q1 2008 Results Bodo Uebber Member of the Board of Management Finance & Controlling and Daimler Financial Services April 29, 2008 Date (year-month-day) Summary Q1 2008 Unit sales up 9%,

More information

Wealth Management and Securities Services

Wealth Management and Securities Services U.S. Bancorp Investor Day Wealth Management and Securities Services Terry Dolan Vice Chairman September 12, 2013 # Forward-looking Statements and Additional Information The following information appears

More information

ABENGOA. 2014: Financial Review. Barbara Zubiria. 8th Annual Analyst and Investor Day. EVP, Capital Markets & IR

ABENGOA. 2014: Financial Review. Barbara Zubiria. 8th Annual Analyst and Investor Day. EVP, Capital Markets & IR Innovative Technology Solutions for Sustainability ABENGOA 2014: Financial Review Barbara Zubiria EVP, Capital Markets & IR 8th Annual Analyst and Investor Day April 3 & 4, 2014 Forward-looking Statement

More information

Revenues before loan loss provisions almost stable at EUR 2.3 bn despite seasonal effects

Revenues before loan loss provisions almost stable at EUR 2.3 bn despite seasonal effects Press release For business desks 7 November 2013 Commerzbank: operating profit of EUR 103 m in third quarter Revenues before loan loss provisions almost stable at EUR 2.3 bn despite seasonal effects Annual

More information

FURTHER PROFIT GROWTH IN FIRST-HALF 2015

FURTHER PROFIT GROWTH IN FIRST-HALF 2015 FURTHER PROFIT GROWTH IN FIRST-HALF 2015 Net sales of 37.7bn, up +5.2% (+2.9% on an organic basis) Growth in Recurring Operating Income: 726m, +2.6% at constant rates Strong growth in adjusted net income,

More information

Q2 F2016 Conference Call

Q2 F2016 Conference Call Q2 F2016 Conference Call Driving Value April 28, 2016 Cautionary Statement Information in this presentation relating to projected growth and financial performance of the Company s business units, contribution

More information

CASSIDIAN Evolution of the Defence & Security business in EADS

CASSIDIAN Evolution of the Defence & Security business in EADS CASSIDIAN Evolution of the Defence & Security business in EADS Global Investor Forum, Toulouse 15-16 November 2010 Stefan Zoller CEO Cassidian 1 2 Disclaimer Disclaimer This presentation includes forward-looking

More information

Full Year Results 2014

Full Year Results 2014 Full Year Results 2014 18 March 2015 Conference call on FY Results 2014 Corporate Finance & Investor Relations AGENDA FY 2014 results presentation Highlights 2014 Financials 2014 Outlook 2015 Appendix

More information

STRATEGY Rīgā. Central Government Debt Management Strategy

STRATEGY Rīgā. Central Government Debt Management Strategy Treasury of the Republic of Latvia Smilšu iela 1, Rīga, LV-1919, Latvia, phone +371 67094222, fax +371 67094220, e-mail kase@kase.gov.lv, www.kase.gov.lv STRATEGY Rīgā APPROVED BY Minister of Finance J.Reirs

More information

Telesat Reports Results for the Quarter and Year Ended December 31, 2014

Telesat Reports Results for the Quarter and Year Ended December 31, 2014 Telesat Reports Results for the Quarter and Year Ended December 31, 2014 OTTAWA, CANADA, February 26, 2015. Telesat Holdings Inc. ( Telesat ) today announced its financial results for the three month and

More information

Europe: Growth of +7.8% in Recurring Operating Income France: New half of improved profitability

Europe: Growth of +7.8% in Recurring Operating Income France: New half of improved profitability 2014 FIRST HALF RESULTS: CONTINUED GROWTH Organic sales growth of 4.3% Increase in Recurring Operating Income of +13.8% Strong increase in adjusted net income, Group share of +16.7% Strong profit growth

More information

8th January 2016. SEB Nordic Seminar 2016

8th January 2016. SEB Nordic Seminar 2016 8th January 2016 SEB Nordic Seminar 2016 Disclaimer All statements in this presentation other than statements of historical fact are forward-looking statements, which are subject to a number of risks,

More information

Q1 Results Presentation

Q1 Results Presentation FY 2015 Q1 Results Presentation Berlin, 12 May 2015 Disclaimer This document has been prepared by Tele Columbus AG(the"Company") solely for informational purposes. This presentation may contain forward-looking

More information

9M2005 Consolidated Results Fulvio Conti Chief Executive Officer

9M2005 Consolidated Results Fulvio Conti Chief Executive Officer 9M2005 Consolidated Results Fulvio Conti Chief Executive Officer Rome, 9 November 2005 Agenda 1. 9M2005 Results 2. 2005 and 2006 outlook 3. Questions & Answers 1 9M2005 results - Highlights Results 9M05/9M04

More information

FLETCHER BUILDING INVESTOR STRATEGY DAY

FLETCHER BUILDING INVESTOR STRATEGY DAY FLETCHER BUILDING INVESTOR STRATEGY DAY 22 May 2013 Nick Olson Chief Financial Officer Investor Strategy Day Fletcher Building May 2013 Page 2 Disclaimer This presentation contains not only a review of

More information

Reed Elsevier Results 2013 Erik Engstrom, CEO Duncan Palmer, CFO

Reed Elsevier Results 2013 Erik Engstrom, CEO Duncan Palmer, CFO Reed Elsevier Results Erik Engstrom, CEO Duncan Palmer, CFO FORWARD-LOOKING STATEMENTS This presentation contains forward-looking statements within the meaning of Section 27A of the US Securities Act of

More information

Refinancing update. July 20, 2010

Refinancing update. July 20, 2010 July 20, 2010 Disclaimer Cautionary Note Regarding Forward-Looking Statements The statements contained herein may include statements of future expectations and other forward-looking statements that are

More information

INVESTOR PRESENTATION Q3-2015 RESULTS OCTOBER 22, 2015. October 22, 2015 Page 1

INVESTOR PRESENTATION Q3-2015 RESULTS OCTOBER 22, 2015. October 22, 2015 Page 1 INVESTOR PRESENTATION Q3-2015 RESULTS OCTOBER 22, 2015 October 22, 2015 Page 1 Safe Harbor Statement This presentation contains statements about management's future expectations, plans and prospects of

More information

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 May 8, 2014 Date of Report (Date of

More information

Conference Call Q1-2015/2016

Conference Call Q1-2015/2016 Conference Call Q1-2015/2016 DIRK KALIEBE August 12, 2015 Highlights Q1-2015/2016 Strategic reorientation is taking effect Good order situation, improved backlog Strong revenue growth due to solid order

More information

Eutelsat Communications Full Year 2013-2014 Results. July 31, 2014

Eutelsat Communications Full Year 2013-2014 Results. July 31, 2014 Eutelsat Communications Full Year 2013-2014 Results July 31, 2014 1 Agenda FY 2013-2014 highlights Operational performance Financial overview Outlook -2- FY 2013-2014: Key Figures Revenue Revenues of 1,348

More information

Electricity Supply Board

Electricity Supply Board Electricity Supply Board Investor Presentation 2012 Interim Results December 2012 Disclaimer Forward looking statements: This presentation contains certain forward-looking statements with respect to ESB

More information

1Q15 Results Presentation May 13 th, 2015

1Q15 Results Presentation May 13 th, 2015 1Q15 Results Presentation May 13 th, 2015 Results Highlights Revenues growth & solid backlog Relevant projects awarded Operating margins increase Reorganization is paying off Solid operating cash flow

More information

Results Presentation Jan-Sep 2014. November 25 th, 2014

Results Presentation Jan-Sep 2014. November 25 th, 2014 Results Presentation Jan-Sep 2014 November 25 th, 2014 Disclaimer This document has been prepared by Grupo Isolux Corsán, S.A.; therefore no part of it may be published, disclosed or distributed in any

More information

Agenda. Forward-looking Statements Denis Jasmin, Vice-President, Investor Relations

Agenda. Forward-looking Statements Denis Jasmin, Vice-President, Investor Relations SECOND QUARTER 2013 Conference Call Notes August 2, 2013 2 Agenda Forward-looking Statements Denis Jasmin, Vice-President, Investor Relations President and CEO Remarks Robert G. Card, President and Chief

More information

Raymond James Global Airline and Transportation Conference

Raymond James Global Airline and Transportation Conference Raymond James Global Airline and Transportation Conference United Continental Holdings, Inc. November 6, 2014 Jim Compton Vice Chairman and Chief Revenue Officer Safe Harbor Statement Certain statements

More information

Strong margin performance despite headwinds on topline

Strong margin performance despite headwinds on topline Strong margin performance despite headwinds on topline Q2 HIGHLIGHTS (Q2 08 vs. Q2 07) Revenues of 5.2 billion, down 1% ( -1% organically 1 ) Gross margin up 50 bps to 18.1% on an underlying 2 basis EBITA

More information

for Analysing Listed Private Equity Companies

for Analysing Listed Private Equity Companies 8 Steps for Analysing Listed Private Equity Companies Important Notice This document is for information only and does not constitute a recommendation or solicitation to subscribe or purchase any products.

More information

Investor conferences Asia, United Kingdom and United States September and October 2015

Investor conferences Asia, United Kingdom and United States September and October 2015 MARKET ANNOUNCEMENT Computershare Limited ABN 71 005 485 825 Yarra Falls, 452 Johnston Street Abbotsford Victoria 3067 Australia PO Box 103 Abbotsford Victoria 3067 Australia Telephone 61 3 9415 5000 Facsimile

More information

José Antonio Álvarez CFO Santander Group

José Antonio Álvarez CFO Santander Group José Antonio Álvarez CFO Santander Group Disclaimer Banco Santander, S.A. ("Santander") cautions that this presentation contains forward-looking statements. These forward-looking statements are found in

More information

Q2 and H1 2014 FINANCIAL RESULTS. 29 August 2014

Q2 and H1 2014 FINANCIAL RESULTS. 29 August 2014 Q and H1 014 FINANCIAL RESULTS 9 August 014 Forward Looking Statements This Presentation may include forward-looking statements. Forward-looking statements are statements regarding or based upon our management

More information

Aegean Airlines Nine Month 2008 Results. Analysts Conference Call November 12, 2008

Aegean Airlines Nine Month 2008 Results. Analysts Conference Call November 12, 2008 Aegean Airlines Nine Month 2008 Results Analysts Conference Call November 12, 2008 Key Highlights Turnover increased 26% to 468.2m from 370.5m Total passengers served reached 4.6m, +13% above 2007 (+23%

More information

2012 Southwest IDEAS Investor Conference

2012 Southwest IDEAS Investor Conference 2012 Southwest IDEAS Investor Conference November 14, 2012 This presentation contains statements which constitute forward-looking statements, within the meaning of the Private Securities Litigation Reform

More information