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Presentation to Investors
by
Dr John Ferrie
Group Managing Director Cheltenham Thursday 26th May 2005
US defence spending flattening The civil aerospace industry is recovering Airline customers are still making huge losses So why is Aerospace attractive?
Smiths Aerospace
APU door door/slides actuators Fuel and hydraulic tubes/hoses High lift actuation system Wing structures Remote input/output Nacelles fairings Propellers Integrated Landing Gear Actuation and Control System Hydraulic Control Valves Hydraulic Fuses Airdrop System Components Auxiliary Power Engine Instrument Displays Integrated Avionics Panels and Light Control Data Management Self-contained Navigation System Landing Gear Actuation and Control Nose Wheel Steering System Hydraulic Control Valves Cable Harnesses and Connectors Environmental Control Power Distribution and Control Generators/Power Conversion 05/05 JF Investors Briefing 3
Smiths Aerospace
Capabilities on fighters
(Applications: JSF, F-22, F-18, Eurofighter, Hawk, F-16)
Battery Charging System Power Supplies Prognostics and Health Monitoring System Fuel Dump Airbrake Actuator Remote Input/Output Secondary Flight Control Fin Control Actuator Auto Target Recognition Gun Pod Cable Harnesses and Connecters Canopy/Windscreen System/Canopy Actuators Refueling Probe
Mission Planning And Debrief Systems (Ground Based)
Variable Exit Nozzle/Thrust Vectoring Actuation System Engine Distress And Monitoring System Tailcone Primary Flight Control Actuators Stores/Weapon Deployment Actuation System Wing Structures
Landing Gear Actuation and Uplock Mechanism Nose Wheel Steering Hydraulic Valves Holdback Bar Fuel and Hydraulic Tubes/Hoses Integrated Cockpit Suite Data Recording/Displays Pitch Feel
Seat Actuator Doors Air Intake Control Hydraulic Fuses Reservoir Valves Accumulator Engine Components
Pylons Pylon Interface Unit Missile Lock Landing Gear Actuation Door Lock Fuel Tank Active Fuel Probes Integrated Modular Avionics Mission Computer Utilities Computer Stores Management Systems Interface Blanker Unit Supplementary Power and Cooling System Environmental Control System 05/05 JF Investors Briefing
Smiths Aerospace
Capabilities on UAVs
(Applications: X-47, X-45)
Variable Speed Constant Frequency Generator Power Distribution System Regulated/Transformer Rectifier Unit Fuel and Hydraulic Tubes/Hoses Cable Harnesses And Connectors
Composite Structures Utilities Computer Remote Input/Output Flight Control Actuation System Active Fuel Probes
Utility/Accessory Actuators Engine Components Engine Distress and Monitoring System Landing Gear Control Landing Gear Chemical and Biological Detection Stores Management System Weapon Door Control Data Recording Mission Computer Vehicle Management System Prognostics And Health Monitoring Supplementary Power and Cooling System Environmental Control System Battery Charging System Remote Interface Unit
Refueling Probe
Smiths Aerospace
Remote Input/Output
Power Generation Cable Harnesses and Connecters Doors and Door Actuators Integrated Avionics Flight Management Data Management Displays Landing Gear Actuation and Control Structures Power Distribution Doors and Door Actuators Utilities Management Wing Structures Landing Gear Actuation And Control Thrust Reverser and Cowl Opening Actuation System Engine Components Engine Actuation Flying Control Surfaces Primary Flight Control Actuators Wing Structures Fuel Systems Power Generation Environmental Control
Smiths Aerospace
Programme Status
Firm Orders = 64 Options = 24 Entry into Service = 2008
Airbus A380
Programme Status
Engine Components
Growth fueled by Competitiveness
Northrop Grumman selects Smiths for J-UCAS Landing Gear System 8th February 2005
Smiths Aerospace
Sales Split
R&D/Sales
Company Funded
(expense to profit)
Customer Funded
(largely govt / military)
Smiths Aerospace
10
Smiths Aerospace
12
Competitors
Electronic Systems
Honeywell Rockwell Collins Hamilton Sundstrand Goodrich Thales Moog Cobham Goodrich Parker Liebherr
Mechanical Systems
Engine Components
Barnes Group Primes in-house capabilities GKN Carlton Magellan Doncasters Firth Rixson
Smiths Aerospace
Customer Services
Third Party Repair Centres Operators in-house capabilities
13
Military
Machined Shafts
Machined Combustors
Smiths Aerospace
14
Usage based
Cost Based
Fixed Price
15
H1 2005
514 39 8%
at constant currency
+17% +24%
Contribution to Smiths Group operating profit Eurofighter Boeing 787
Delivered first system for Airbus A380, F-35 JSF, C-130 AMP Development work on Boeing 787 Dreamliner on schedule Selected for complete landing gear on X-47B Teamed with Lockheed on US 101 Presidential helo fleet Capacity in China doubled by 2006 Engine component plant in Poland being expanded
05/05 JF Investors Briefing 16
Smiths Aerospace
(expected)
2005
2005 sales
Commercial OE
2004
Military OE Aftermarket
2003
10%
20%
10%
10%
Smiths Aerospace
17
20 15 10 5 0
2006
2007
2004
2005
2008
2009
2010
2001
2002
2003
Military Helicopters
Other Fixed-Wing
Light Fighter/Attack/Trainer
Heavy Fighter
2011
2012
80
60
40
20
2006
2007
2004
2005
2008
2009
2010
2001
Civil Helicopters
2002
Exec/Utility Turboprops
2003
Business Jets
Regional Transports
Commercial Jets
Smiths increasing market share Opportunities in later years for new narrow bodies
Smiths Aerospace
05/05 JF Investors Briefing 19
2011
2012
Growing as anticipated
US defence spending flattening The civil aerospace industry is recovering Airline customers are still making huge losses So why is Smiths so confident? We have strong platform positions gaining market share Supported by increased R&D Engine Components business delivering planned growth Sustained drive on all aspects of cost
Smiths Aerospace
20