Business Context and Reporting Period
Company: James Hardie Industries N.V.
Filing Type: Form 6-K (Report of Foreign Private Issuer)
Date: November 19, 2008
Reporting Period: The filing incorporates by reference the Q2 and Half Year results for Fiscal Year 2009 (FY09). The registrant is a foreign private issuer headquartered in Amsterdam, The Netherlands, with operations primarily in Australia and the United States.
Key Financial Metrics
The provided text is a cover sheet and exhibit index for the Form 6-K. It does not contain the specific financial data tables or narrative analysis required to report on revenue, profit, cash flow, margins, debt, or liquidity. These metrics are contained within the referenced exhibits (specifically Exhibit 99.2, 99.3, and 99.5) which are not included in the input text.
Note: The filing text does not provide a clear value for any specific financial metric.
Material Changes
The text does not provide specific comparative data or material changes between the current period and the prior comparable period. Such analysis is located in the attached exhibits (Exhibit 99.3: Management's Analysis and Exhibit 99.5: Financial Report) which are referenced but not provided in the source text.
Guidance, Outlook, Risks, and Contingencies
Forward-Looking Statements: The filing includes a comprehensive Safe Harbor Statement identifying numerous forward-looking statements regarding future performance, plans, and objectives. These statements are subject to inherent risks and uncertainties.
Key Risks and Contingencies Identified:
- Asbestos Liabilities: Significant exposure related to prior manufacture of asbestos-containing products, including required contributions to the Asbestos Injuries Compensation Fund (AICF) and the impact of foreign exchange rates on recorded liabilities.
- Legal Proceedings: Potential consequences of proceedings brought by the Australian Securities and Investments Commission (ASIC) against the company and former directors/officers.
- Operational Risks: Costs associated with the suspension or closure of plants, product failures, and environmental liabilities.
- Financial Risks: Expectations regarding the extension or renewal of credit facilities, dividend payments, and tax liabilities/audits.
- Market Risks: Competition, product pricing, raw material supply and costs, and general economic conditions.
Investor Verification Checklist
- Verify the specific Q2 and Half Year FY09 financial results (Revenue, EBITDA, Net Profit) in Exhibit 99.5 (Financial Report) and Exhibit 99.2 (Media Release), as these are not in the cover text.
- Review the Management's Analysis (Exhibit 99.3) for details on material changes and operational performance drivers.
- Assess the current status and funding levels of the Asbestos Injuries Compensation Fund (AICF) and any recent changes in liability estimates.
- Monitor the status of legal proceedings involving the Australian Securities and Investments Commission (ASIC).
- Confirm the status of credit facilities and liquidity positions given the economic conditions of late 2008.