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CSR's CEO Discusses Q4 2011 Results (UK) - Earnings Call Transcript


Q4 2011 Earnings Call

February 20, 2012 4:00 AM ET


Joep van Beurden – CEO

William Gardiner – CFO


Nick James – Numis

Sunil George – Morgan Stanley

Stephen Mulholland – UBS

Simon Schafer – Goldman Sachs

Nick Hyslop – RBC

Andrew Gardiner – Barclays Capital

Johannes Schaller – Deutsche Bank

Eoin Lambe – Liberum

Lee Simpson – Jefferies


Joep van Beurden

Good morning, and welcome to CSR’s Q4 2011 and full year results presentation. My name is Joep van Beurden, CEO. With me here are Will Gardiner, our CFO; and Jeffrey Torrance, IR Director. Will and I will be making forward-looking statements. And before we start, I’d like to draw your careful attention to our cautionary statement. During today’s presentation, we will reference estimates, plans and expectations that are forward-looking statements.

The actual outcome could differ materially due to factors we know it from the slide and in our regulatory filings. Please take a moment to carefully read of the cautionary statement and refer to the disclosure in today’s earning release as well as the filings with the U.S. Securities and Exchange Commission on forms 20-F, 6-K for more details.

Today’s agenda, first, I will give you the overview of our Q4 and 2011 performance then Will will review the numbers. I’ll discuss outlook and go to Q&A.

First the key messages. In 2011, we make progress in our transition to being a provider of higher margin platforms to multiple end markets. That being said, we have a lot of work to do to complete that transition, further improving margins, reducing cost, allocating our capital to areas where we can grow, improving our profitability.

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