Business Context and Reporting Period
This Form 6-K is filed by James Hardie Industries N.V. (James Hardie) for the month of August 2008. The filing serves to distribute two exhibits originally filed with the Australian Stock Exchange: a notification regarding the reinstatement of a 2002 tax audit for JH Australia Finance Ltd (Exhibit 99.1) and the Q1 FY09 Result Notification (Exhibit 99.2).
Key Financial Metrics
The provided text contains the cover page, safe harbor statement, exhibit index, and signatures for the Form 6-K. It does not include the actual content of the exhibits. Consequently, specific financial metrics such as revenue, profit, cash flow, margins, debt, and liquidity are not present in this document text.
Material Changes
The filing references two significant events in the exhibit index, though detailed financial impacts are not quantified in the text provided:
- Reinstatement of a 2002 tax audit for JH Australia Finance Ltd.
- Release of Q1 FY09 results.
Guidance, Outlook, and Risks
The document includes a comprehensive Safe Harbor Statement identifying forward-looking statements and associated risks. Key areas of uncertainty and risk highlighted include:
- Asbestos Liabilities: Expectations regarding payments to the Asbestos Injuries Compensation Fund (AICF) and the impact of foreign exchange rates on recorded liabilities.
- Legal and Regulatory: Proceedings by the Australian Securities and Investments Commission (ASIC), tax audits, and environmental or product liability claims.
- Operational: Costs associated with the suspension of operations at the Blandon, Pennsylvania, and Plant City, Florida plants.
- Financial: Expectations concerning credit facility renewals, dividend payments, and tax liabilities.
- Market Conditions: Competition, product pricing, raw material costs, and general economic conditions.
Investor Verification Checklist
- Verify the specific financial results for Q1 FY09 by reviewing the full text of Exhibit 99.2, which is referenced but not included in this filing text.
- Assess the potential financial impact of the reinstated 2002 tax audit for JH Australia Finance Ltd (Exhibit 99.1).
- Monitor updates on the suspension of operations at the Blandon and Plant City plants and associated cost estimates.
- Review the latest status of asbestos-related litigation and AICF contribution requirements.
- Confirm the status of credit facilities and dividend policies given the forward-looking statements regarding these items.