Hamilton Beach 2008 Annual Report Download - page 3
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Please find page 3 of the 2008 Hamilton Beach annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.NACCO Industries, Inc. is an operating holding company with the following principal businesses: lift trucks,
housewares distribution, housewares retail and mining.
HBB:
•Strong heritage brands with leading market shares
•Strong relationships with leading retailers
•Highly professional and experienced manage-
ment team
•Successful track record of product line expansion
and new product innovation
•Industry-leading working capital management
Kitchen Collection:
•Highly analytical merchandising skills and
disciplined operating controls
•Two well-established, complementary retail
store formats – Kitchen Collection®and
Le Gourmet Chef®
•Lignite coal mines provide steady income and
cash flow before financing activities and high
return on equity
•Contracts are structured to minimize exposure
to market fluctuations of coal prices
•2.3 billion tons of lignite coal reserves, of which
approximately 1.2 billion tons are committed to
current customers
•Outstanding operational and technological mining
skills
•Highly efficient heavy equipment utilization
•Excellent record of environmental responsibility
and employee safety
Competitive Advantages
•Leading market share positions in the Americas
and worldwide
•Highly recognized Hyster®and Yale®brand names
•Large installed population base of lift trucks; an
estimated 831,000 Hyster®and Yale®lift trucks in
operation worldwide
•Highly diverse customer base with more than 600
different end-user applications in more than 900
industries
•Comprehensive global product line
•Strong dealer network
•Industry-leading national account coverage in
the Americas
•Globally integrated operations with significant
economies of scale
Financial Objectives
NMHG Wholesale:
Achieve a minimum operating
profit margin target of 9 percent
NMHG Retail:
Reach at least break-even financial
performance while building market
position and transfer responsibility
to independent dealers when
possible
HBB:
Achieve a minimum operating
profit margin target of 10 percent
Kitchen Collection:
Achieve a minimum operating
profit margin target of 5 percent
Earn a minimum return on capital
employed of 13 percent and attain
positive Economic Value Income
from all existing consolidated
mining operations and any new
projects, while maintaining or
increasing the profitability of all
existing unconsolidated project
mining operations
Key Business Programs
•Manufacturing restructuring
•Quality initiative
•Global supply chain
•New product development
•New product introductions
•Strategic pricing optimization
•National and global accounts
•Dealer structure program
•Aftermarket parts
•NMHG Retail improvements
•Distribution and brand strategy
•Employee safety
•Contract structure
•Lignite mining operations
•Limerock dragline mining operations
•Mining and management innovation
•Environmental commitment
•Leveraging NACoal’s lignite coal reserves
•Direct coal-fired power generation
•Coal gasification
•Coal-based energy production
•Utilizing lignite coal beneficiation technologies
•Contract mining of lignite coal
•Contract mining of aggregates
HBB:
•Purchasing and supplier product cost reduction
•Continuous quality improvement
•Supply chain optimization
•Product development process
•New product introductions
•Retailer and channel focus
•Strategic brand application
Kitchen Collection:
• Corporate expense management
• Store expense management
• Continuous product cost management
• Logistics efficiency
• Innovative products and merchandising
• Hamilton Beach®brand leverage
• Economic Value Income
• Outlet mall format initiatives
• Traditional mall format initiatives
• Internet format initiative