Finning International Inc. · TSX:FTT
Finning International — Q1 2013 Earnings Presentation
9 slides from Finning International's earnings presentation, May 9, 2013
Slide 1: Q1 2013 Investor Call
Q1 2013 Investor Call May 9, 2013
Slide 2: Forward Looking Information
Forward Looking Information This report contains statements about the Company’s business outlook, objectives, plans, strategic priorities and other statements that are not historical facts. A statement Finning makes is forward-looking when it uses what the Company knows and expects today to make a s
Slide 3: Q1 2013 Highlights
Q1 2013 Highlights Revenue up 8%; EBIT up 21%; EPS of $0.43 – first quarter record Solid quarter; however, SG&A remains work-in-progress Continue to advance on operational excellence initiatives; Q1 results include severance costs of ~$4 million or approximately $0.02 per share Revenues on plan FINS
Slide 4: Q1 2013 Results
Q1 2013 Results C$ millions Q1 2013 Q1 2012* Q1-13/Q1-12 Q4 2012* Q1-13/Q4-12 Revenue 1,584 1,472 8% 1,779 (11%) Gross profit 498 444 12% 522 (5%) GP margin 31.4% 30.2% 29.3% SG&A (382) (347) (10%) (384) 1% SG&A as % of revenue (24.1)% (23.6)% (21.6)% Equity earnings 2 2 2 Other income (expenses) (1
Slide 5: Canada – Q1 2013
Canada – Q1 2013 C$ millions Q1 2013 Q1 2012* Change Q4 2012* Q1-13/Q4-12 Revenue 756 778 (3%) 788 (4%) Operating costs (676) (712) 5% (700) 4% Depreciation/amortization (26) (29) (27) Equity earnings in JV 3 2 2 Other income - - 10 EBIT 57 39 46% 73 (22%) EBIT margin 7.5% 5.0% 9.2% * Restated to re
Slide 6: FINSA – Q1 2013
FINSA – Q1 2013 C$ millions Q1 2013 Q1 2012* Change Change Q4 2012* Q1-13/Q4-12 C$ US$ C$ US$ Revenue 638 481 33% 31% 774 (18%) (19%) Operating costs (563) (420) (34%) (33%) (679) 17% 17% Depreciation/amortization (17) (12) (18) Other expenses (1) (1) (1) EBIT 57 48 19% 17% 76 (25%)(26%) EBIT margin
Slide 7: UK and Ireland – Q1 2013
UK and Ireland – Q1 2013 C$ millions Q1 2013 Q1 2012* Change Change Q4 2012* Q1-13/Q4-12 C$ GBP C$ GBP Revenue 191 213 (10%) (10%) 217 (12%) (10%) Operating costs (172) (193) 11% 11% (197) 12% 13% Depreciation/amortization (9) (7) (10) Other expenses - (1) (1) EBIT 10 12 (17%) (17%) 9 13% 16% EBIT m
Slide 8: Outlook
Outlook Softer market conditions for mining equipment; however, well-positioned for a solid year Expect slower new equipment sales in 2013 compared to 2012 Expect continued growth in product support Large installed machine population Good equipment utilization levels Full-year’s contribution from ex
Slide 9: Operations Update
Operations Update UK & Ireland Uncertain outlook Good opportunities in product support Canada Slowing equipment sales to resource customers Good activity in heavy construction and forestry Healthy demand for product support South America Reduced spending on new equipment in mining Solid activity in
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