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    Ferreyros

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    Mian Muhammad Haseeb
    Founded in 1922, Ferreyros has grown to be a major Peruvian company with over 1,200 employees distributing machinery and equipment. It listed on the Lima Stock Exchange in 1994 and has since instituted corporate governance reforms. The company is now 40% owned by Peruvian pension funds and has a market capitalization over $190 million. It achieved strong revenue growth of 43.6% in 2006 through sound shareholder policies and board practices that have been recognized with industry awards.

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    Ferreyros

    Uploaded by

    Mian Muhammad Haseeb
    163 views15 pages
    Founded in 1922, Ferreyros has grown to be a major Peruvian company with over 1,200 employees distributing machinery and equipment. It listed on the Lima Stock Exchange in 1994 and has since instituted corporate governance reforms. The company is now 40% owned by Peruvian pension funds and has a market capitalization over $190 million. It achieved strong revenue growth of 43.6% in 2006 through sound shareholder policies and board practices that have been recognized with industry awards.

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    Founded in 1922, Ferreyros has grown to be a major Peruvian company with over 1,200 employees distributing machinery and equipment. It listed on the Lima Stock Exchange in 1994 and has since instituted corporate governance reforms. The company is now 40% owned by Peruvian pension funds and has a market capitalization over $190 million. It achieved strong revenue growth of 43.6% in 2006 through sound shareholder policies and board practices that have been recognized with industry awards.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    163 views15 pages

    Ferreyros

    Uploaded by

    Mian Muhammad Haseeb
    Founded in 1922, Ferreyros has grown to be a major Peruvian company with over 1,200 employees distributing machinery and equipment. It listed on the Lima Stock Exchange in 1994 and has since instituted corporate governance reforms. The company is now 40% owned by Peruvian pension funds and has a market capitalization over $190 million. It achieved strong revenue growth of 43.6% in 2006 through sound shareholder policies and board practices that have been recognized with industry awards.

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    Founded in 1922 Core objective: import and sale of machinery equipments In 1942 started distribution of Caterpillar By 2005 company

    had 1,200 employees and 7000 share holders 5 Peruvian Pension Investment Funds holds 40% shares

    Contd

    6 investors with 5% plus shares, rest 43% in free float Ferreyros is listed in Lima Stock Exchange Index Market capitalization grew 62% form 118 M to US$ 191M Turnover of US$ 300 Million

    List of share holders having more than 5% of shares

    Strategy Overview

    The controlling shareholders devised 3 step formula for companys development


    1. 2. 3.

    Turn over company management to new professional managers Register its shares at the Lima Stock Exchange Institute corporate governance improvements

    In 1994 company issued bonds worth US$ 5 M There have been 4 bond issues since then (1994, 1996, 1999 and 2002)

    Contd

    11 issuance of commercial papers since registration in 2001 worth US$ 49 M In 2004, 5 issuance of bonds worth US$ 50 M In March 2006 AGM shareholders approved registration of mix of bonds and commercial papers worth US$ 90 M

    Corporate Governance

    BOD: 8 to 12 4 ID selected by pension fund managers 3 Board Committees Each committee of 5 directors , Whom 1 or 2 ID or semi annually session

    BOD

    BOD meeting every month, 80% attendance for last few years Performance based remuneration BOD entitled to 6% of freely available profits Disclosure of remuneration & compensation in annual report Chairman and CEO should be separate entity CEO selects senior managers

    Audit Committee

    Info Disclosure

    Issue newsletter one day after an event Issue quarterly financial statements and yearly audited reports Issues annual report at web along with major shareholder names Yearly briefing to Peruvian Pension Funds managers

    Dividend Policy

    Dividend Policy devised in 1997

    Cash dividend equal to 5% of capital or ceiling equal to 50% of freely available profit Remainder paid as stock dividend

    Award
    Best Treatment of Shareholders from Procapitales & Universidad Peruana de Ciencias Aplicadas in May 2006.

    Results

    Uphold shareholders rights Ensure equal treatment for all shareholders Provide free access to information Guarantee information transparency, quality and timely disclosure Establish an efficient and professionally-skilled Board of Directors

    Revenues & Growth

    2006 were US$ 221 million, up 43.6% from 2005

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