Business Context and Reporting Period
Company: James Hardie Industries SE (formerly James Hardie Industries Plc)
Filing Type: Form 6-K (Report of Foreign Private Issuer)
Reporting Period: November 2011 (Filing Date: November 10, 2011)
Context: This filing serves as a cover document to transmit regulatory notifications regarding the company's second quarter results for the fiscal year ending June 30, 2012 (FY12). The registrant is an Irish SE with principal executive offices in Dublin, Ireland.
Key Financial Metrics
The provided filing text does not contain specific financial data tables or numerical values.
- Revenue, Profit, Cash Flow, Margins: Not provided in this text.
- Debt and Liquidity: Not provided in this text.
- Key Metrics: The filing references an "ASX Q2 FY12 Results Notification" (Exhibit 99.2) and an "Appendix 3E" (Exhibit 99.1) as the sources for financial details, but the content of these exhibits is not included in the input text.
Material Changes
The filing text does not provide specific comparative financial data or describe material changes in performance versus the prior period. It references the submission of Q2 FY12 results, implying a reporting event, but the specific variances are not detailed in the provided content.
Guidance, Outlook, Risks, and Contingencies
Forward-Looking Statements: The filing includes an extensive Safe Harbor statement identifying numerous risks that could cause actual results to differ from projections. Key areas of uncertainty include:
- Asbestos Liabilities: Risks related to prior asbestos manufacturing, contributions to the Asbestos Injuries Compensation Fund (AICF), potential shortfalls in the AICF, and currency exchange impacts on recorded liabilities.
- Legal and Regulatory: Proceedings by the Australian Securities and Investments Commission (ASIC) against the company and former directors; tax audits and potential tax charges; and compliance with environmental and health laws.
- Corporate Structure: Risks associated with the transfer of the corporate domicile from The Netherlands to Ireland, including employee relations and governance changes.
- Market Conditions: Dependence on residential and commercial construction markets, housing recovery levels, mortgage availability, and raw material costs.
- Operational: Potential suspension or closure of plant operations and the ability to renew credit facilities.
Investor Verification Checklist
- Verify the specific financial results contained in the referenced "ASX Q2 FY12 Results Notification" (Exhibit 99.2) as they are not present in this cover filing.
- Review the "Appendix 3E" (Exhibit 99.1) for details on the Australian regulatory notification.
- Assess the current status of the Asbestos Injuries Compensation Fund (AICF) and any recent changes to contribution requirements.
- Monitor the outcome of proceedings brought by the Australian Securities and Investments Commission (ASIC).
- Confirm the impact of the corporate domicile transfer to Ireland on tax liabilities and employee relations.