Black & Decker 2013 Annual Report Download - page 7
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05
operating margins, and working capital
turns—a model of consistency.
Other key highlights during the year
from our Industrial & Automotive
Repair business include the results
of CribMaster, which delivered 70%
organic growth with above line operating
margins, and Mac Tools posting its
16th consecutive quarter of organic
growth, topped off by 8% growth in the
fourthquarter.
Positioned for Profitable
Organic Growth
As we move into 2014, our long-term
strategy and financial objectives remain
intact. Our mission is to build world-
class franchises that create exceptional
shareholder value. To do so, we are
committed to achieving sustained organic
growth outperformance by investing
in our business, leveraging our scale in
emerging markets and nurturing our
growth culture. We will continue to selec-
tively operate in markets where brand
is meaningful and powerful, the value
proposition is definable, sustainable,
and can be improved through innovation,
and where we can achieve global cost
leadership. In time, we will also look
to once again utilize our core competency
in M&A to build our franchises by adding
higher growth, higher margin businesses
and continuing to consolidate the indus-
tries in which we operate, building outour
growth platforms and our growth verticals,
and importantly, selectively investing
in differentiated technologies. We’ve
recently seen some of the benefits of this
with our iris biometric identification
solution, in partnership with eyelock, and
AeroScout Real Time Location System
(RTLS)technology.
Taking a step back, Stanley Black &
Decker has achieved its success by
building franchises that are resilient and
sustainable. From where we sit today,
we are #1 in Tools and Storage, #2 in
Commercial Electronic Security Services
and #2 in Engineered Fastening. We’ve
grown our revenues an average of
20% over the last ten years, averaged
greater than 125% free cash flow
conversion over the past five years, and
returned over 50% of our cash generated
to shareholders since 2000 in the form
Born in the USA. Built in the USA.
DeWALT is a global brand with American
roots. With our new plant in North Carolina,
we are expanding the number of DeWALT
tools we build in the USA.
Land of the Free, Tools of the Brave
DeWALT has become not just a leader
in pro-grade tools, but a true statement
of American ingenuity and pride. Visit
toolsofthebrave.com to see how.
Wounded Warrior Project
We are partnering with Wounded Warrior
Project®—known for healing wounds,
visible and invisible—to help serve and
support America’s injured veterans.
A Global Company with American Roots – A Living Legacy of American Pride
Our company was founded in the United States of America over 150 years ago. While we have grown into a global diversified
industrial solutions company, America continues to be an important part of our world.