Analisis de Fleet PDF

Estrategias
aplicadas al
Sector
Bancario
4
A Survey of
Manufacturing Company CFOs
2004
Middle-Market Outlook
Diploma en Economa y Gestin Bancaria

Departamento de Economa de la Facultadad de Ciencias Sociales
Universidad de la Repblica 1
Estrategias
aplicadas al
About The Survey Sector

Bancario
This is the sixth annual survey of middle-market

manufacturer CFOs commissioned by Fleet Capital
Corporation.
During September 2003, an independent market research
firm completed phone interviews with 601 chief financial
officers drawn from a random sampling of manufacturing
companies (SIC codes 2000 to 3999) with annual revenues
between $25 million and $2 billion.
The purpose of this proprietary research project was to
determine how manufacturing company CFOs view the
U.S. economy, their outlook for revenue, financing, M&A
activity, and their involvement in foreign markets. The
statistical range of error for the total sample is plus or
minus 4%.
Estrategias
aplicadas al
Bancario
Survey Demographics
Is your company public or private? _ 8% Chemicals

_ 81% Privately owned _ 8% Automotive parts
_ 18% Publicly owned _ 6% Miscellaneous manufacturing
_ 1% Refused or dont know _ 6% Fabricated metal products
What type or types of product does your _ 5% Printing/publishing
company manufacture? _ 5% Furniture
_ 12% Food products _ 5% Lumber & wood products
_ 4% Paper products
_ 11% Electric
equipment/electronics _ 4% Textiles & apparel
_ 3% Medical equipment
_ 10% Primary metal industries
_ 3% Rubber & plastics
_ 9% Industrial machinery & _ 1% Stone, clay & glass products
equipment
Estrategias
aplicadas al
Bancario
Survey Demographics
Sales Region
_ 64% $25 million to $74,999,999 _ 37% Midwest
_ 26% $75 million to $199,999,999 _ 23% East
_ 6% $200 million to $499,999,999 _ 22% South
_ 4% $500 million to $2 billion _ 18% West
Gender
_ 80% Male
_ 20% Female

Estrategias
aplicadas al
1. Economic Outlook Sector

Bancario
1.1. Do you think the actions taken by the Federal Reserve

Board over the past year regarding interest rates have
helped or hurt the national economy?
1.2. Has the current state of the economy caused you to alter
your plans for growth or expansion?
1.3. What actions have the current economic conditions

caused you to take?
1.4.Looking ahead, do you think the U.S. economy will expand,

contract, or stay the same in 2004?
Estrategias
aplicadas al
1. Economic Outlook Sector

Bancario
1.5. On a scale ranging from 0 (extremely weak) to 100 (extremely

strong), how would you rate the current state of the
manufacturing sector?
1.6. Do you expect your companys revenues to grow, contract or

stay the same in 2004?
1.7. Do you expect your companys level of capital expenditures

over the next 12 months to increase, decrease or stay the same
as the past 12 months?
1.8.What are your most significant financial concerns?

Estrategias
aplicadas al
2. Financing Sector
Bancario
2.1. Will your companys financing requirements increase,

decrease or say the same in 2004 as compared to 2003?
2.2. Do you expect your financing cost of capital to increase,
decrease or stay the same in 2004 as compared to 2003?
2.3. Are you currently considering financing for any the
following
_ Acquisition
_ Debtor-in-Possession (DIP)/Exit Financing
_ Expansion
_ Leveraged Buyout (LBO)/Management Buyout (MBO)
_ Machinery & Equipment
_ Working Capital

Estrategias
aplicadas al
2. Financing Sector
Bancario
2.4. Which of the following types of financing does your

company plan to use in 2004?
2.5. Thinking about the credit availability from your current lender,
would you say that your lender has increased, maintained or
restricted credit availability compared to a year ago
2.6. Do you think that your relationship with your current lender
has improved, remained the same or deteriorated over the past
year?
2.7. How important is it that your lender have the ability to
provide your company with a wide range of financial
products and services?
2.8. Which of the following products and services do you
currently purchase from your lender?
2.9. Do you use the Internet to transact business with your
lender or financial institution
Estrategias
aplicadas al
3. Labor Costs and Product Pricing

Sector
Bancario
3.1. Do you expect your labor costs per unit to increase, decrease or
stay the same in 2004 as compared to 2003? What about product
pricing?
4.Mergers and Acquisitions

4.1. Will your company participate in any mergers or acquisitions in
2004?
4.2. Are there more businesses available at lower prices and attractive
multiples compared to a year ago?
4.3.Do you think that the purchase price for companies in your
industry as a multiple of EBITDA will increase, decrease or stay the
same in the year 2004 compared to 2003?
Estrategias
aplicadas al
5. International Outlook
Sector
Bancario
5.1. Regarding foreign markets, do you sell, import or have

operations in foreign countries?
5.2. Will your companys sales to foreign markets increase,

decrease or stay the same in 2004 as compared to 2003?
5.3. Where geographically will the increase in sales occur?
5.4. Do you hedge foreign currency risks?

Estrategias
aplicadas al
The Major Findings -Financing Sector

Bancario
_ The top three types of financing middle-market manufacturing companies

plan to use in 2004 are bank financing (74%), internal sources (64%)
and leasing (36%).
_ Less than one-third of CFOs surveyed expect their companys financing

requirements to increase in 2004, down from 46% in 2003. Ten percent
say they plan to borrow less.
_ Despite continued historically low interest rates and an optimistic view of

the outlook for the economy, only 41% of CFOs forecast an increase in
their cost of capital.
_ An overwhelming majority (93%) of CFOs surveyed say that they have

been able to find the financing needed to execute their business plans.
Estrategias
aplicadas al

Bancario
_ Most CFOs believe credit availability has not deteriorated over the
past year. Twenty seven percent of respondents say that credit
availability from their current lender has increased over the past 12
months. Six out of ten (60%) are experiencing no change incredit
availability.
_ Twenty-nine percent of CFOs reported that their relationship with

their current lender has improved, while only 8% report that their
lender relationship has deteriorated.
_ More then eight out of ten (84%) CFOs indicated that it is

important that their lender be able to provide them with a wide
range of products and services..
services
Estrategias
aplicadas al

Bancario
_ In addition to their credit facility, 89% of companies

surveyed purchase at least one additional product or
service from their lender.
_ More than four in ten (42%) CFOs use the Internet to

transact business with their lender.
_ Viewing balance information/on-line statements (90%)

and accessing bank services (82%) rose to the top of the
list when asked how they use the Internet to transact
business with their lender.
.

Estrategias
aplicadas al
Respuesta al 1.1. Sector

Bancario

Estrategias
aplicadas al

Bancario

Estrategias
aplicadas al

Bancario

Estrategias
aplicadas al

Bancario

Estrategias
aplicadas al

Bancario

Estrategias
aplicadas al

Bancario

Estrategias
aplicadas al

Bancario


Analisis de Fleet PDF

Загружено:

Сведения о документе

Оригинальное название

Авторское право

Доступные форматы

Поделиться этим документом

Поделиться или встроить документ

Параметры публикации

Этот документ был вам полезен?

Это неприемлемый материал?

Авторское право:

Доступные форматы

Analisis de Fleet PDF

Загружено:

Авторское право:

Доступные форматы

Estrategias

Diploma en Economa y Gestin Bancaria

About The Survey Sector

This is the sixth annual survey of middle-market

Is your company public or private? _ 8% Chemicals

Diploma en Economa y Gestin Bancaria

1. Economic Outlook Sector

1.1. Do you think the actions taken by the Federal Reserve

1.3. What actions have the current economic conditions

1.4.Looking ahead, do you think the U.S. economy will expand,

1. Economic Outlook Sector

1.5. On a scale ranging from 0 (extremely weak) to 100 (extremely

1.6. Do you expect your companys revenues to grow, contract or

1.7. Do you expect your companys level of capital expenditures

1.8.What are your most significant financial concerns?

Diploma en Economa y Gestin Bancaria

2.1. Will your companys financing requirements increase,

Diploma en Economa y Gestin Bancaria

2.4. Which of the following types of financing does your

3. Labor Costs and Product Pricing

4.Mergers and Acquisitions

5.1. Regarding foreign markets, do you sell, import or have

5.2. Will your companys sales to foreign markets increase,

5.3. Where geographically will the increase in sales occur?

5.4. Do you hedge foreign currency risks?

Diploma en Economa y Gestin Bancaria

The Major Findings -Financing Sector

_ The top three types of financing middle-market manufacturing companies

_ Less than one-third of CFOs surveyed expect their companys financing

_ Despite continued historically low interest rates and an optimistic view of

_ An overwhelming majority (93%) of CFOs surveyed say that they have

The Major Findings -Financing Sector

_ Twenty-nine percent of CFOs reported that their relationship with

_ More then eight out of ten (84%) CFOs indicated that it is

The Major Findings -Financing Sector

_ In addition to their credit facility, 89% of companies

_ More than four in ten (42%) CFOs use the Internet to

_ Viewing balance information/on-line statements (90%)

Diploma en Economa y Gestin Bancaria

Respuesta al 1.1. Sector

Diploma en Economa y Gestin Bancaria

Respuesta al 1.8. Sector

Diploma en Economa y Gestin Bancaria

Respuesta al 2.3. Sector

Diploma en Economa y Gestin Bancaria

Respuesta al 2.4. Sector

Diploma en Economa y Gestin Bancaria

Respuesta al 2.7. Sector

Diploma en Economa y Gestin Bancaria

Respuesta al 2.8. Sector

Diploma en Economa y Gestin Bancaria

Respuesta al 2.9. Sector

Diploma en Economa y Gestin Bancaria

Вам также может понравиться