US Johnson Controls recently released its performance forecast for fiscal year 2014 (October 2013 to September 2014). The company expects its operating income for the current fiscal year to reach 43.8 billion U.S. dollars, up 3% year-on-year. Profits of business groups are also expected to grow.
Johnson Controls focused on its business in China and pointed out that the Chinese market contributed $8 billion in operating revenue for the company in fiscal year 2013. In the future, the company will continue to invest heavily in China. It has already started building a new headquarters building in Shanghai. This also reflects the importance of the Chinese market for the company.
Johnson Controls expects that the global automobile production will increase in key markets in FY2014, of which the growth rate of China's auto production is expected to reach 11%, and the production in Europe and North America is expected to increase by 2% and 6% respectively.
Based on the above forecast, sales of Johnson Controls's auto seat business in the North American market are expected to increase by 1% to 2% this fiscal year, and will remain stable in Europe. The company stated that its business in China is not reflected in revenue expectations because most of these businesses come from joint ventures. In addition, the company expects sales of its automotive electronics products will increase by 2.5% to 3%, while sales of interior trim products will be expected to decline by 1.5%.
Thanks to the improvement of operations and the improvement of the metallurgical business, the operational profitability of Johnson Controls Automotive Interiors Group for the current fiscal year is expected to reach 4% to 4.2%.
With the increase of business scale in various regions and market share in China, and the expansion of adsorption-type glass fiber separator (AGM) for start-stop systems, the operating income of Johnson Controls Power Solutions Group is expected to increase in the current fiscal year. The year-on-year increase of 7% to 8%, operating profit margin is expected to reach 16% to 16.2%.
In fiscal year 2013 (October 2012 to September 2013), Johnson Controlsâ€™ operating income totaled US$42.73 billion, an increase of 1.8% over the previous fiscal yearâ€™s US$41.155 billion; net profit of the previous fiscal year was from the previous fiscal year. The 13.11 billion U.S. dollars fell to 1.297 billion U.S. dollars, a year-on-year drop of 1%.
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