Business Context and Reporting Period
This Form 6-K filing by James Hardie Industries N.V. (James Hardie) covers the month of September 2008, with the report dated September 17, 2008. The filing serves to furnish the U.S. Securities and Exchange Commission with materials previously filed with the Australian Stock Exchange on September 15, 2008, specifically a series of presentations from the company's 2008 USA Analyst/Investor Tour.
Key Financial Metrics
The provided text does not contain specific numerical values for revenue, profit, cash flow, margins, debt, or liquidity. The filing consists of a cover page, a safe harbor statement, an exhibit index, and signatures. The actual financial data is contained within the attached exhibits (99.1 through 99.9), which are referenced but not included in the text provided.
Material Changes
The filing text does not explicitly detail material changes versus prior periods. However, the exhibit titles suggest updates on specific business segments and market conditions, including:
- Repair and Remodel market performance.
- Non-Metro market development.
- Multi-family housing sector updates.
- Manufacturing operations.
- General numbers, business, and market updates.
Guidance, Outlook, Risks, and Contingencies
The filing includes a comprehensive Safe Harbor Statement identifying significant forward-looking risks and uncertainties that could cause actual results to differ from expectations. Key areas of risk and contingency include:
- Asbestos Liabilities: Expectations regarding payments to the Asbestos Injuries Compensation Fund (AICF), tax liabilities related to audits, and indemnification obligations.
- Legal Proceedings: Potential consequences of proceedings by the Australian Securities and Investments Commission against the company and former directors.
- Operational Disruptions: Costs associated with the suspension of operations at the Blandon, Pennsylvania, and Plant City, Florida plants.
- Financial Obligations: Expectations concerning the extension or renewal of credit facilities and dividend payments.
- Market and Economic Factors: Competition, product pricing, raw material costs, foreign exchange rates, and general economic conditions.
Investor Verification Checklist
- Verify the specific financial figures and growth rates presented in Exhibit 99.9 ("Numbers, Business, Market Update Presentation").
- Confirm the current status and estimated costs of the suspended operations in Blandon, PA, and Plant City, FL.
- Review the latest projections for contributions to the Asbestos Injuries Compensation Fund (AICF).
- Assess the impact of the U.S. housing market downturn on the Repair & Remodel and Multi-family segments as detailed in Exhibits 99.2 and 99.6.
- Check for any updates on the Australian Securities and Investments Commission proceedings mentioned in the risk factors.