Johnson Controls says it expects to post higher sales and earnings in fiscal 2013 despite the challenging economic environment.
Highlights include: consolidated net sales of around US$43.5bn, up 3% to 4%; year-on-year segment income improvement of around 10%; sales and segment income improvement in all four of its businesses and continued capital investment to support growth and margin expansion.
From a market perspective, Johnson Controls said compared with 2012 markets, it expects slightly higher 2013 automotive production in North America and China with lower production in Europe.
Global non-residential construction spending is forecast to be relatively flat in 2013 as strength in emerging markets, especially Asia, offsets anticipated softness in North America and Europe.
“While we recognise the challenges of the near-term global economy, we believe our strengths will enable Johnson Controls to outperform our underlying markets,” said Johnson Controls chairman and CEO, Stephen Roell.
“We have added management capacity and depth with talent from outside JCI to further leverage our competitive advantages. The company continues to benefit from growth opportunities stemming from our investments in technology and global expansion.
“We remain committed to investing for future growth and profit improvement and are confident our 2013 strategies and improvement initiatives position us to improve shareholder value over the long term.”