Monday, March 3, 2014

Finning International Inc. - FTT.t

Finning International Inc. - FTT.t is the world's largest Caterpillar dealer delivering unrivalled service for over 80 years.

The company sells, rents and provides parts and service for equipment and engines to customers in various industries, including mining, construction, petroleum, forestry and a wide range of power systems applications.

On February 19, 2014 the company reported Numbers


•Revenues rose by 3% to $1.8 billion driven by higher parts and service revenues.
•Earnings before finance costs and income taxes (EBIT)(1) were $145 million compared to $148 million in Q4 of last year. Excluding one-time items, EBIT performance improved from Q4 of last year.
•Basic earnings per share (EPS) of $0.54 were below $0.60 in Q4 2012, reflecting lower EBIT and higher provision for income taxes.
•Improvements in working capital(1) decreased invested capital(1) by $204 million from Q3 2013, mainly through the reduction of equipment inventory in all operations.
•Free cash flow(1) of $365 million was $120 million higher than in Q4 2012, driving the ratio of net debt to invested capital(1) to 41% at the end of 2013, down from 48% at the end of September 2013 and 50% at the end of 2012.


•Revenues grew by 3% to a record $6.8 billion. Product support revenues rose by 12%, partly attributable to the contribution from the mining shovels and drills business.