Energizer 2010 Annual Report Download - page 75

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Exhibit 13
ENERGIZER HOLDINGS, INC.
(Dollars in millions, except per share and percentage data)
65
These statements generally can be identified by the use of forward-looking words or phrases
such as “believe,” “expect,” “anticipate,” “may,” “could,” “intend,” “belief,” “estimate,” “plan,”
“likely,” “will,” “should” or other similar words or phrases. These statements are not guarantees
of performance and are inherently subject to known and unknown risks, uncertainties and
assumptions that are difficult to predict and could cause our actual results, performance or
achievements to differ materially from those expressed in or indicated by those statements. We
cannot assure you that any of our expectations, estimates or projections will be achieved.
The forward-looking statements included in this document are only made as of the date of this
document and we disclaim any obligation to publicly update any forward-looking statement to
reflect subsequent events or circumstances.
Numerous factors could cause our actual results and events to differ materially from those
expressed or implied by forward-looking statements, including, without limitation:
• the preliminary nature of the estimates related to the restructuring initiatives, and the
possibility they may change as management develops and finalizes its plans;
• Energizer’s ability to timely implement the strategic initiatives in a manner that will positively
impact our financial condition and results of operation;
• the impact of the strategic initiatives on Energizer’s relationships with its employees, its
major customers and vendors;
• our ability to develop new products, improve operations and realize cost savings;
• our ability to continue planned advertising and other promotional spending and the impact
thereon of lower than anticipated cash flows, or by alternative investment opportunities;
• our ability to execute its business strategy, achieve profitability, or maintain relationships
with existing customers in our competitive businesses;
• our ability to predict consumer consumption trends with respect to the overall battery
category although it is likely that they will continue to be significantly negatively impacted by
declines in the proliferation or consumption of primary battery-powered devices;
• competitive promotional, pricing or product innovation activity, retailer inventory reductions
or product placement decisions, and the loss of significant retailer customers;
• our ability to anticipate the impact of raw material and other commodity costs, and the
difficulty in predicting with any accuracy whether raw material, energy and other input costs,
or unit volumes, will stabilize, since such costs are impacted by multiple economic, political
and other factors outside of the Company’s control, and volumes are impacted by
consumption and category trends that are difficult to assess;
• changes in the funding obligations for our pension plan;
• the extent of product liability claims and others claims against us;