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Roper Industries Inc, USA
COMPANY WATCH
Roper Industries Inc, USA Key Figures (US$ million) Three months ended 30.6 2012
Weir Group plc, UK Key Figures (£ million) Half year ended 29.6.2012
2011
Net Orders Of Which: Industrial Technology
763.5
707.7
202.1
189.3
Net Sales Of Which: Industrial Technology
724.9
699.9
203.9
183.5
Cost of Sales
327.3
322.8
Operating Profit Of Which: Industrial Technology
196.1
177.7
62.1
51.7
Net Earnings
114.8
106.3
Six months ended 30.6 2012
2011
Net Orders Of Which: Industrial Technology
1492.9
1410.0
406.2
390.1
Net Sales Of Which: Industrial Technology
1435.9
1345.2
399.1
353.4
Cost of Sales
647.1
618.0
Operating Profit Of Which: Industrial Technology
383.0
332.9
119.6
97.9
Net Earnings
223.1
195.3
1.7.2011
Order Input Of Which: Weir Minerals Weir Oil & Gas Weir Power & Industrial
1312
1220
726 373 196
652 401 161
Revenue Of Which: Weir Minerals Weir Oil & Gas Weir Power & Industrial
1325
1031
664.9 492.3 154.5
550.8 324.1 140.9
Operating Profit
248
186
Profit before Tax
226
178
COMMENT COMMENT Roper Industries Inc performed well in the second quarter, with net earnings up 8% to US$115 million and revenue up 4% to US$725 million. Orders rose 8% to US$763 million and represented a bookto-bill ratio of 1.05. “We are pleased with the performance of our businesses in the second quarter,” said Brian Jellison, Roper’s chairman, president and CEO. “We achieved record second quarter revenue and earnings, as our businesses continued to execute well in the current uncertain economic 10
Pump Industry Analyst
environment. Organic growth was consistent with our expectations in the quarter, and our focus on breakeven ratios, cost discipline and operating leverage resulted in exceptional margin performance.” In July, Roper entered into a new US$1.5 billion senior unsecured five-year revolving credit facility, which replaced the company’s 2008 senior unsecured five-year credit facility. The new credit facility doubles the amount of revolving credit available to the company. ■ www.roperind.com
Weir delivered record first half profits, with strong trading in the Minerals and Power & Industrial divisions. Group half year revenue increased 29% to £1325 million, reflecting a record opening orderbook at Oil & Gas, strong Minerals order growth and the first contributions from recent acquisitions (Weir International, Weir Seaboard and Weir Novatech). Emerging market revenues were up 25% driven by increasing sales in South America and Africa in particular. Order input was 8% up at £1312 million. Original
equipment orders slipped 2%, as growth in Minerals and Power & Industrial was offset by lower frac pump orders at Oil & Gas. Aftermarket orders increased 17% with strong production trends across mining markets and good service activity in global power and oil & gas markets. Orders from emerging markets were 17% higher at £494 million. Profit before tax from continuing operations before exceptional items and intangibles amortisation increased by 27% to £226 million. ■ www.weir.co.uk
September 2012
Roper Industries Inc, USA Key Figures (US$ million) Three months ended 30.6 2012
Weir Group plc, UK Key Figures (£ million) Half year ended 29.6.2012
2011
Net Orders Of Which: Industrial Technology
763.5
707.7
202.1
189.3
Net Sales Of Which: Industrial Technology
724.9
699.9
203.9
183.5
Cost of Sales
327.3
322.8
Operating Profit Of Which: Industrial Technology
196.1
177.7
62.1
51.7
Net Earnings
114.8
106.3
Six months ended 30.6 2012
2011
Net Orders Of Which: Industrial Technology
1492.9
1410.0
406.2
390.1
Net Sales Of Which: Industrial Technology
1435.9
1345.2
399.1
353.4
Cost of Sales
647.1
618.0
Operating Profit Of Which: Industrial Technology
383.0
332.9
119.6
97.9
Net Earnings
223.1
195.3
1.7.2011
Order Input Of Which: Weir Minerals Weir Oil & Gas Weir Power & Industrial
1312
1220
726 373 196
652 401 161
Revenue Of Which: Weir Minerals Weir Oil & Gas Weir Power & Industrial
1325
1031
664.9 492.3 154.5
550.8 324.1 140.9
Operating Profit
248
186
Profit before Tax
226
178
COMMENT COMMENT Roper Industries Inc performed well in the second quarter, with net earnings up 8% to US$115 million and revenue up 4% to US$725 million. Orders rose 8% to US$763 million and represented a bookto-bill ratio of 1.05. “We are pleased with the performance of our businesses in the second quarter,” said Brian Jellison, Roper’s chairman, president and CEO. “We achieved record second quarter revenue and earnings, as our businesses continued to execute well in the current uncertain economic 10
Pump Industry Analyst
environment. Organic growth was consistent with our expectations in the quarter, and our focus on breakeven ratios, cost discipline and operating leverage resulted in exceptional margin performance.” In July, Roper entered into a new US$1.5 billion senior unsecured five-year revolving credit facility, which replaced the company’s 2008 senior unsecured five-year credit facility. The new credit facility doubles the amount of revolving credit available to the company. ■ www.roperind.com
Weir delivered record first half profits, with strong trading in the Minerals and Power & Industrial divisions. Group half year revenue increased 29% to £1325 million, reflecting a record opening orderbook at Oil & Gas, strong Minerals order growth and the first contributions from recent acquisitions (Weir International, Weir Seaboard and Weir Novatech). Emerging market revenues were up 25% driven by increasing sales in South America and Africa in particular. Order input was 8% up at £1312 million. Original
equipment orders slipped 2%, as growth in Minerals and Power & Industrial was offset by lower frac pump orders at Oil & Gas. Aftermarket orders increased 17% with strong production trends across mining markets and good service activity in global power and oil & gas markets. Orders from emerging markets were 17% higher at £494 million. Profit before tax from continuing operations before exceptional items and intangibles amortisation increased by 27% to £226 million. ■ www.weir.co.uk
September 2012