Exide Technologies Business Report FY2007
Business Highlights
Financial
overview
Factors
(1)Net sales for fiscal 2008 were $196.1 million, or 21.1%, higher than fiscal 2007 due to favorable pricing actions and increases in unit volume, particularly in the aftermarket channel which experienced a 6.3% increase, partially offset by a 10.0% decline in the OEM channel.
(2)Net sales in fiscal 2008, excluding the favorable impact of $117.3 million in foreign currency translation, increased by $206.5 million, or 24.8% compared to fiscal 2007. The increase was primarily due to favorable pricing actions, partially offset by an 7.9% reduction in overall unit sales.
Contracts
-In Mar. 2008, the Company announces a new supply agreement with Toyota Motor Engineering and Manufacturing North America. The Company has begun shipping lead-acid starting batteries for the next generation of Toyota Corolla and Matrix passenger vehicles assembled at Toyota Motor Manufacturing Canada (TMMC) in Cambridge, Ontario. The Company will provide TMMC up to 244,000 group size 24 and 35 starting batteries annually for the Canada-produced passenger vehicles. The batteries are manufactured at its Bristol, Tennessee facility and shipped from its distribution center in Mississauga, Canada. The Company currently supplies Toyota with batteries for its North American-produced Camry and Avalon cars, Tundra trucks and Sequoia sport-utility vehicles. (From a press release on Mar. 18, 2008)
| (in thousand dollars) | FY2008 |
FY2007 |
Rate of change (%) | Factors |
| Consolidated figures | ||||
| Sales | 3,696,671 | 2,939,785 | 25.7 | - |
| Gross profit | 593,190 | 472,776 | 25.5 | |
| Sales results in the Transportation segment | ||||
| Transportation North America |
1,126,388 | 930,334 | 21.1 |
See note (1) below |
| Transportation European and ROW | 1,156,007 | 832,219 | 38.9 | See note (2) below |
Factors
(1)Net sales for fiscal 2008 were $196.1 million, or 21.1%, higher than fiscal 2007 due to favorable pricing actions and increases in unit volume, particularly in the aftermarket channel which experienced a 6.3% increase, partially offset by a 10.0% decline in the OEM channel.
(2)Net sales in fiscal 2008, excluding the favorable impact of $117.3 million in foreign currency translation, increased by $206.5 million, or 24.8% compared to fiscal 2007. The increase was primarily due to favorable pricing actions, partially offset by an 7.9% reduction in overall unit sales.
Contracts
-In Mar. 2008, the Company announces a new supply agreement with Toyota Motor Engineering and Manufacturing North America. The Company has begun shipping lead-acid starting batteries for the next generation of Toyota Corolla and Matrix passenger vehicles assembled at Toyota Motor Manufacturing Canada (TMMC) in Cambridge, Ontario. The Company will provide TMMC up to 244,000 group size 24 and 35 starting batteries annually for the Canada-produced passenger vehicles. The batteries are manufactured at its Bristol, Tennessee facility and shipped from its distribution center in Mississauga, Canada. The Company currently supplies Toyota with batteries for its North American-produced Camry and Avalon cars, Tundra trucks and Sequoia sport-utility vehicles. (From a press release on Mar. 18, 2008)
R&D
Patent,
Trademarks and Licenses
-At the end of March 2008, the Company owned approximately 300 trademarks and licenses from others the right to use fewer than 20 trademarks worldwide.
-The Company generated a number of patents in the operation of its business and currently owns all or a partial interest in approximately 350-375 patents and applications for patents pending worldwide.
-At the end of March 2008, the Company owned approximately 300 trademarks and licenses from others the right to use fewer than 20 trademarks worldwide.
-The Company generated a number of patents in the operation of its business and currently owns all or a partial interest in approximately 350-375 patents and applications for patents pending worldwide.
Investment Activities
Overseas
Investments
-In Dec. 2007, the Company announced plans for the capacity expansion at its transportation manufacturing facility in Gujarat, (Ahmedabad) India. The Company is investing in equipment upgrades, line expansions, infrastructure and utilities at its Tudor India Ltd. (TIL) location in its efforts to increase operational capacity from 600,000 batteries up to 1,000,000 batteries per year. TIL is the Indian arm of Chloride Motive Power Batteries, UK, a wholly owned subsidiary of the Company. TIL registered a 44 percent increase in net sales to US $15 million for the last fiscal year compared to the same period for the previous year. The newest planned capacity expansion is expected to be completed by June 2008. (From a press release on Dec. 13, 2007)
-In Dec. 2007, the Company announced plans for the capacity expansion at its transportation manufacturing facility in Gujarat, (Ahmedabad) India. The Company is investing in equipment upgrades, line expansions, infrastructure and utilities at its Tudor India Ltd. (TIL) location in its efforts to increase operational capacity from 600,000 batteries up to 1,000,000 batteries per year. TIL is the Indian arm of Chloride Motive Power Batteries, UK, a wholly owned subsidiary of the Company. TIL registered a 44 percent increase in net sales to US $15 million for the last fiscal year compared to the same period for the previous year. The newest planned capacity expansion is expected to be completed by June 2008. (From a press release on Dec. 13, 2007)