Hamilton Beach 2009 Annual Report Download

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NACCO Industries, Inc.
2009 Annual Report

Table of contents

  • Page 1
    NACCO Industries, Inc. 2009 Annual Report

  • Page 2
    ... Collection is the nation's leading specialty retailer of kitchen and related products in factory outlet malls with 296 stores throughout the United States in 2009. North American Coal ("NACoal") Headquarters: Dallas, Texas North American Coal mines and markets coal primarily as fuel for power...

  • Page 3
    ...-quality products - Continually reduce supply chain costs • Partnerships with our customers and suppliers • Organizational excellence - People and processes development Kitchen Collection: • Unique, high-quality, widest variety of affordable products in creative store environments • Store...

  • Page 4
    ... gain was recognized in 2006 and 2005 as a result of a reduction to Bellaire Corporation's estimated closed mine obligations relating to amounts owed to the United Mine Workers of America Combined Benefit Fund arising as a result of the Coal Industry Retiree Health Benefit Act of 1992. 1

  • Page 5
    2009 Cash Flow Data: Operating Activities NACCO Materials Handling Group ...$ Hamilton Beach Brands ...Kitchen Collection ...North American Coal Corporation ...NACCO and Other ...Provided by operating activities ...$ Year Ended December 31 2008(1) 2007 2006 (In millions, except employee data) 2005...

  • Page 6
    ... lift truck markets remained very weak for the entire year. However, at Hamilton Beach Brands ("HBB"), despite a decrease in revenues, operating results were exceptional. Kitchen Collection also experienced a promising turnaround in 2009, reporting significantly improved results. North American Coal...

  • Page 7
    ... and Kitchen Collection, respectively. Subsidiary Financial Objectives Each of NACCO's subsidiary companies has specific long-term financial objectives (see sidebar for specific goals). In 2009, NACoal and HBB achieved their targets. However, if HBB had not suspended certain employee benefits, the...

  • Page 8
    North American Coal 2009 Results NACoal has had strong, stable performance over the years and 2009 was no exception. The long-term nature of NACoal's coal supply agreements and the low cost of power provided by the power plants it serves resulted in minimal effect from the recession on the company's...

  • Page 9
    ... unplanned outages occur at any of its customers' power plants. High productivity levels are expected to continue at all mining operations, especially at the Mississippi Lignite Mining Company, where the company expects to build up safety stock inventory during 2010 and achieve a steady operating...

  • Page 10
    ...which it employs at its Dakota Gasification facility to put CO2 into a pipeline for export to Canada for enhanced oil and gas recovery. Further, most of NACoal's potential coal-fired power plant customers, such as Mississippi Power, include carbon capture in their new coal project plans. The company...

  • Page 11
    ...divest its remaining retail dealerships to strong independent dealers in the coming year. NMHG's market share of factory bookings declined in 2009 in each area of the world, largely due to NMHG's commitment to reducing dealer inventories as quickly as possible to market-appropriate levels and to the...

  • Page 12
    ... East and Asia than in Western Europe, which is expected to be flat in comparison with 2009. The North American market is expected to improve moderately. properly prepared to achieve its financial targets as the recovery strengthens. In 2009, the company's actions were successful in reducing NMHG...

  • Page 13
    ... believes its products, supply chain, manufacturing, quality, pricing, distribution and sales and marketing programs will position the company well in the global lift truck market. As the market turns up, these programs are expected to move the company's financial performance to target levels and to...

  • Page 14
    ... Beach® 6-quart programmable Set & Forget® slow cooker with spoon rest and clip-tight gasket lid, Hamilton Beach® BrewStation® Summit Ultra 12-cup coffeemaker, Hamilton Beach® 6-Speed classic hand mixer, Traditions® by Proctor Silex iron and Hamilton Beach® Premiere cookware electric skillet...

  • Page 15
    .... New products introduced in 2009, as well as further new product introductions in the pipeline for 2010 and future years, are expected to improve revenues. Proctor Silex® 8-Speed Blender, Hamilton Beach® Ensemble™ 2-slice bagel toaster (shown in red) and Hamilton Beach® stainless steel kettle...

  • Page 16
    .... A new, revitalized store format and website for the Le Gourmet outlet mall market appears to be improving. Against this backdrop, Kitchen Collection expects a modest increase in revenue in 2010 compared with 2009, despite the planned closing of a number of under-performing stores. Favorable sales...

  • Page 17
    ...New Jersey, shown above, features higher-margin, brand-name kitchenware and gourmet foods. The Kitchen Collection® store in Edinburgh, Indiana, shown below, features higher-margin, brand-name kitchen gadgets, small electric appliances and a variety of other kitchen- and housewares-related products...

  • Page 18
    ... and Chief Executive Officer The North American Coal Corporation Michael P. Brogan President and Chief Executive Officer NACCO Materials Handling Group, Inc. Gregory H. Trepp President and Chief Executive Officer Hamilton Beach Brands, Inc. Chief Executive Officer The Kitchen Collection, Inc...

  • Page 19
    ..., Hamilton Beach and Kitchen Collection and charges against the accumulated deferred tax assets of NMHG in 2008. Management believes that both Net Income/Loss attributable to stockholders and Adjusted Net Income/Loss attributable to stockholders assist the investor and the subsidiaries' lenders in...

  • Page 20
    ... Financial Officer Charles A. Bittenbender Vice President, General Counsel and Secretary James M. Phillips Vice President, Human Resources Rajiv K. Prasad Vice President, Global Product Development Victoria L. Rickey Vice President, Asia-Pacific Michael E. Rosberg Vice President, Global Supply Chain...

  • Page 21
    ... The New York Stock Exchange Symbol: NC Investor Relations Contact Investor questions may be addressed to: Investor Relations NACCO Industries, Inc. 5875 Landerbrook Drive, Suite 300 Cleveland, Ohio 44124 (440) 449-9669 E-mail: [email protected] Environmental Benefits This Summary Annual Report and...

  • Page 22
    5875 Landerbrook Drive, Suite 300 • Cleveland, Ohio 44124 An Equal Opportunity Employer Printed in U.S.A.