Tomkins Business Report FY2009
|(in million dollars)|
|FY2009||FY2008||Rate of change
|Consolidated Income Statement (selected)|
|Profit from operations||262.9||404.8||(35.1)||
|Industrial & Automotive (I&A)|
|Profit from operations||226.1||349.4||(35.3)||-|
Power Transmission segment
-Sales were $1,763.4 million (2008: $2,125.2 million), a decline of 17.0%. Sales fell $150.6 million due to exchange rate changes. Sales declined by $211.2 million, or 10.7%, on an underlying basis.
-Sales fell principally as a result of lower volumes in most of Power Transmission’s end markets in the regions in which it operates.
-Notable exceptions were China, which performed well in the year, showing double digit percentage growth, and the Gates automotive aftermarket business (38% of Power Transmission’s sales in 2009), which continued to demonstrate its resilience.
-Sales to the industrial OE and replacement markets (23% of Power Transmission’s sales in 2009) declined by 28%.
-Sales to the automotive OE market (39% of Power Transmission’s sales in 2009 were down by around 20%, driven by lower automotive production levels, particularly in North America and Europe.
Sensors & Valves segment
-Sales were $313.6 million (2008: $421.0 million), a decline of 25.5%. Sales fell $42.8 million due to exchange rate changes. Sales declined by $64.6 million, or 17.1%, on an underlying basis.
-Sales fell principally as a result of lower volumes in the automotive OE market (74% of Sensors & Valves’ sales in 2009).
-Schrader International’s industrial and automotive aftermarket business, which accounts for the remainder of Sensors & Valves’ sales, was affected by low customer demand and declined compared with 2008.
-Approximately 60% of Sensor $ Valves’ sales in 2009 were to the North American market.
Contracts-As for the Power Transmission product area, new contract wins in the automotive OE market totaled $84.9 million, with 62% of these relating to the Asia and European markets.
-Schrader Electronics won new business at Ford for TPMS, accounting for sales of around $20 million, and secured sole supplier status to Mercedes until 2016. Supply of TPMS to Mahindra & Mahindra commenced in the fourth quarter of 2009, and it extended Schrader Electronics’ sales in developing regions.
|(in million dollars)|