Finning International Inc. Press Releases

Finning Reports on Voting Results from Annual Meeting of Shareholders

Thu, 09 May 2013 18:47:00 -0400

VANCOUVER, BRITISH COLUMBIA--(Marketwired - May 9, 2013) - Finning International Inc. (TSX:FTT) announced the voting results from its Annual Meeting of Shareholders held on Wednesday, May 8, 2013 in Vancouver, British Columbia.

A total of 128,935,187 common shares were voted at the meeting, representing 74.98% of the of the Company's outstanding shares. Shareholders voted in favour of all items of business before the meeting, including the appointment of auditors for the ensuing year and the authorization of the directors to fix the auditors' remuneration, the acceptance of the Company's approach to executive compensation, or say-on-pay, and the election of directors. Detailed results of the ballot vote for the election of directors are provided below:

Director Nominee	Votes for	Percent	Votes Withheld	Percent
Ricardo Bacarreza	126,912,646	99.47	671,126	0.53
James E.C. Carter	127,196,022	99.70	387,750	0.30
Hon. David L. Emerson	126,795,872	99.38	787,900	0.62
Kathleen O'Neill	127,187,432	99.69	396,340	0.31
Christopher W. Patterson	127,527,437	99.96	56,335	0.04
John M. Reid	127,003,381	99.55	580,391	0.45
Andrew H. Simon	127,359,535	99.82	224,237	0.18
Bruce L. Turner	126,747,697	99.34	836,075	0.66
Douglas W.G. Whitehead	126,288,388	98.98	1,295,384	1.02
Michael M. Wilson	125,891,748	98.67	1,692,024	1.33

Finning International Inc. is the world's largest Caterpillar equipment dealer delivering unrivalled service to customers for 80 years. Finning sells, rents and services equipment and engines to help customers maximize productivity. Headquartered in Vancouver, B.C., the Company operates in western Canada, Chile, Argentina, Bolivia, Uruguay, as well as in the United Kingdom and Ireland.

Contact Information:

Finning International Inc.

Mauk Breukels

Vice President, Investor Relations and Corporate Affairs

(604) 331-4934

mauk.breukels@finning.com

www.finning.com

Finning International Announces Scott Thomson as President and CEO

Wed, 08 May 2013 16:31:00 -0400

VANCOUVER, BRITISH COLUMBIA--(Marketwired - May 8, 2013) - The Board of Directors of Finning International (TSX:FTT) is pleased to announce the appointment of Scott Thomson as president and CEO, succeeding Mike Waites , effective June 17, 2013.

"We are extremely pleased to announce Scott's appointment and welcome him to Finning International," said Doug Whitehead , chairman of Finning's Board of Directors. "Scott's international experience, broad financial capabilities, and considerable strategic acumen complement the leadership team's existing breadth and operational strength. His knowledge and background, along with an energetic leadership style, make him well-equipped to build on our successful track record of creating value at Finning over the long-term."

Mr. Thomson joins Finning from Talisman Energy Inc. where he was chief financial officer with responsibility for finance, tax, treasury, investor relations, marketing, business development, and strategy, planning and performance management. Prior to joining Talisman, Mr. Thomson held several executive positions with Bell Canada Enterprises, including executive vice president, corporate development; vice president, head of mergers and acquisitions; and vice president, corporate strategy. Prior to Bell, Mr. Thomson was a vice president at Goldman, Sachs and Co. Thomson graduated with a Bachelor of Arts in Economics and Political Science from Queen's University, Kingston and an MBA from the University of Chicago, Graduate School of Business.

The appointment follows a thorough succession process to identify a candidate to succeed current president and CEO Mike Waites , who announced his intention to retire from the company in January 2013, pending the choice of a successor.

Mr. Whitehead added, "On behalf of the Board, I want to take this opportunity to thank Mike Waites for his invaluable contribution as president and CEO since 2008. Mike's dedication and wisdom have been the hallmarks of his leadership and he was instrumental in repositioning the company for future growth."

"I am pleased to join the strong Finning management team, and I am especially excited by Finning's business opportunities," said Mr. Thomson. "Finning is strategically well positioned, and has succeeded by focusing on operations and customers. I very much look forward to working with the team to continue to build on their success."

Finning International Inc. (TSX:FTT) is the world's largest Caterpillar equipment dealer delivering unrivalled service to customers for 80 years. Finning sells, rents and services equipment and engines to help customers maximize productivity. Headquartered in Vancouver, B.C., the Company operates in Western Canada, Chile, Argentina, Bolivia, Uruguay, as well as in the United Kingdom and Ireland.

Forward-Looking Disclaimer

This report contains statements about the Company's business outlook, objectives, plans, strategic priorities and other statements that are not historical facts. A statement Finning makes is forward-looking when it uses what the Company knows and expects today to make a statement about the future. Forward-looking statements may include words such as aim, anticipate, assumption, believe, could, expect, goal, guidance, intend, may, objective, outlook, plan, project, seek, should, strategy, strive, target, and will. Forward-looking statements in this report include, but are not limited to, statements with respect to: expectations with respect to the economy and associated impact on the Company's financial results; expected revenue and SG&A levels and EBIT growth; anticipated generation of free cash flow (including projected net capital and rental expenditures), and its expected use; anticipated defined benefit plan contributions; the expected target range of the Company's Debt Ratio; the impact of new and revised IFRS that have been issued but are not yet effective. All such forward-looking statements are made pursuant to the 'safe harbour' provisions of applicable Canadian securities laws.

Unless otherwise indicated by us, forward-looking statements in this report describe Finning's expectations at May 8, 2013. Except as may be required by Canadian securities laws, Finning does not undertake any obligation to update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.

Forward-looking statements, by their very nature, are subject to numerous risks and uncertainties and are based on several assumptions which give rise to the possibility that actual results could differ materially from the expectations expressed in or implied by such forward-looking statements and that Finning's business outlook, objectives, plans, strategic priorities and other statements that are not historical facts may not be achieved. As a result, Finning cannot guarantee that any forward-looking statement will materialize. Factors that could cause actual results or events to differ materially from those expressed in or implied by these forward-looking statements include: general economic and market conditions; risks associated with the conduct of business in foreign jurisdictions; foreign exchange rates; commodity prices; the level of customer confidence and spending, and the demand for, and prices of, Finning's products and services; Finning's dependence on the continued market acceptance of Caterpillar's products and Caterpillar's timely supply of parts and equipment; Finning's ability to continue to improve productivity and operational efficiencies while continuing to maintain customer service; Finning's ability to manage cost pressures as growth in revenues occur; Finning's ability to reduce costs in response to slowing activity levels; Finning's ability to attract sufficient skilled labour resources to meet growing product support demand; Finning's ability to negotiate and renew collective bargaining agreements with satisfactory terms for Finning's employees and the Company; the intensity of competitive activity; Finning's ability to realize expected benefits of acquisitions; Finning's ability to raise the capital needed to implement its business plan; regulatory initiatives or proceedings, litigation and changes in laws or regulations; stock market volatility; changes in political and economic environments for operations; the integrity, reliability, and availability of information technology and the data processed by that technology; expected operational benefits from the new ERP system. Forward-looking statements are provided in this report for the purpose of giving information about management's current expectations and plans and allowing investors and others to get a better understanding of Finning's operating environment. However, readers are cautioned that it may not be appropriate to use such forward-looking statements for any other purpose.

Forward-looking statements made in this report are based on a number of assumptions that Finning believed were reasonable on the day the Company made the forward-looking statements. Refer in particular to the Outlook section of the MD&A. Some of the assumptions, risks, and other factors which could cause results to differ materially from those expressed in the forward-looking statements contained in this report are discussed in the Company's current Annual Information Form (AIF) in Section 4.

Finning cautions readers that the risks described in the AIF are not the only ones that could impact the Company. Additional risks and uncertainties not currently known to the Company or that are currently deemed to be immaterial may also have a material adverse effect on Finning's business, financial condition, or results of operations.

Except as otherwise indicated, forward-looking statements do not reflect the potential impact of any non-recurring or other unusual items or of any dispositions, mergers, acquisitions, other business combinations or other transactions that may be announced or that may occur after the date hereof. The financial impact of these transactions and non-recurring and other unusual items can be complex and depends on the facts particular to each of them. Finning therefore cannot describe the expected impact in a meaningful way or in the same way Finning presents known risks affecting its business.

Contact Information:

Finning International Inc.

Mauk Breukels

Vice President, Investor Relations and Corporate Affairs

(604) 331-4934

mauk.breukels@finning.com

www.finning.com

Finning Reports Q1 2013 Results and Increases Dividend

Wed, 08 May 2013 16:30:00 -0400

VANCOUVER, BRITISH COLUMBIA--(Marketwired - May 8, 2013) - Finning International Inc. (TSX:FTT) -

Q1 2013 HIGHLIGHTS

Revenue rose by 8% to $1.6 billion, driven by significantly higher revenue from South America, which more than offset modest revenue reduction in Canada and the UK & Ireland.
Product support revenue increased by 13% to record levels reflecting incremental revenue from the expanded mining product line (the former Bucyrus International Inc. business) and solid machine utilization in mining and construction.
EBIT grew by 21% to $117 million and consolidated EBIT margin was 7.4% compared to 6.6% in Q1 2012, reflecting higher EBIT margin in Canada.
Basic EPS was $0.43; up by 16% from Q1 2012, marking the best first quarter EPS on record.
Free cash flow was $93 million use of cash, a significant improvement from $223 million cash usage in the first quarter of 2012.
The Company raised its quarterly dividend by 9% to $0.1525 per share, reflecting the expectation for earnings growth and strong free cash flow potential.

Finning International Inc. reported quarterly revenues of $1.6 billion, an 8% increase over Q1 2012. Strong revenue growth in South America more than offset lower revenues from Canada and the UK and Ireland. Product support revenues grew by 13% over Q1 2012, reaching a new record. Quarterly earnings before finance costs and income taxes (EBIT) rose by 21% to $117 million. Quarterly EBIT margin was 7.4% compared to 6.6% in Q1 2012, resulting from improved EBIT margin in Canada. Basic earnings per share (EPS) increased by 16% from Q1 of last year to $0.43. First quarter results included severance costs of approximately $4 million or $0.02 per share, and reflected the adoption of the amendments to International Accounting Standard (IAS) 19, which reduced results by approximately $0.02 per share in both 2013 and 2012.

"Our ability to grow revenues during heightened economic uncertainty clearly demonstrates the benefit of our broad end-market and geographic diversification, as well as our product support capabilities. As expected, slower activity in mining translated into lower order intake. However, our backlog remains solid, and high machine utilization levels are expected to continue driving strong product support revenues in 2013," said Mike Waites, president and CEO of Finning International Inc. "Our priorities for the year ahead remain unchanged. We are executing on operational excellence initiatives with rigour and discipline to achieve sustainable improvements in our operating profitability. Based on our capabilities to generate strong free cash flow and our expectation for earnings growth, we are pleased to increase our quarterly dividend by 9% to 15.25 cents per share."

Consolidated 2013 revenues are expected to be flat to up 10% over 2012, driven by product support revenues which benefit from a full year's contribution from the expanded mining product line. For 2013, earnings are expected to grow at a higher rate than revenue. The Company's net debt to total capital ratio is projected to decline to the 35-45% target range by the end 2013.

The Company aims to improve operating profitability through advancing operational excellence. The Company targets to achieve EBIT margin of 9-10% and ROE exceeding 18%, on a consistent basis. The timing of the achievement of the EBIT margin target will depend on the Company's ability to successfully execute its operational excellence strategy and may also be influenced by market conditions.

Q1 2013 FINANCIAL SUMMARY

C$ millions, except per share amounts (unaudited)	Three months ended Mar 31
	2013		2012⁽⁶⁾		% change
Revenue	1,584		1,472		8
Earnings before finance costs and income taxes (EBIT)	117		97		21
Net income	73		64		14
Basic EPS	0.43		0.37		16
Earnings before finance costs, income taxes, depreciationand amortization (EBITDA)⁽¹⁾	169		145		17
Free cash flow⁽¹⁾⁽²⁾	(93	)	(223	)	58

Revenues increased by 8% from Q1 2012 to $1.6 billion, driven by strong revenue growth in South America, which more than offset lower revenues in Canada and the UK & Ireland. New equipment sales were up by 2% as significantly higher new equipment sales in South America outweighed the reduction in sales in Canada and the UK & Ireland compared to Q1 2012. Product support revenues rose by 13% to record levels, with the highest ever revenues in Canada and strong growth in South America. Used equipment sales declined in all operations and were down by 18% compared to Q1 2012, while rental revenues increased by 2%.
Gross profit was 12% higher compared to Q1 2012, reflecting a favourable shift in revenue mix to higher margin product support, as well as higher gross profit margins in most lines of business. Consolidated gross profit margin increased to 31.4% from 30.2% in Q1 2012.
Selling, general and administrative (SG&A) expenses were higher compared to Q1 of last year as significantly reduced Enterprise Resource Planning (ERP) system related costs in Canada were offset by increased costs related to the expanded mining product line and the new Fort McKay service facility. In addition, the Company incurred approximately $4 million of severance costs associated with the operational excellence initiatives to improve efficiencies and adjust the cost structure to activity levels. SG&A expenses as a percentage of revenue were 24.1% compared to 23.6% in Q1 2012.
EBIT increased by 21% to $117 with higher EBIT reported in Canada and South America. Consolidated EBIT margin rose to 7.4% from 6.6% in Q1 2012, reflecting improved EBIT margin in Canada due to a reduction in ERP system related costs, as well as a higher proportion of product support in revenue mix compared to Q1 of last year.
Net income rose by 14% to $73 million. Basic EPS of $0.43 was up by 16% from Q1 2012 and was the highest first quarter EPS on record. Q1 2013 results included severance costs of approximately $0.02 per share. In addition, the adoption of the amendments to IAS 19 negatively impacted first quarter results by approximately $0.02 per share in both 2013 and 2012.
EBITDA climbed 17% from Q1 2012 to $169 million. Quarterly free cash flow was $93 million use of cash, a significant improvement compared to $223 million cash usage in Q1 2012, primarily due to improvements in working capital, particularly inventory.
The Company's net debt to total capital ratio⁽⁵⁾ was 51.1% at the end of March compared to 50.0% at the end of December, mostly due to negative free cash flow in the first quarter. The ratio is expected to return to the 35-45% target range by the end of 2013 as a result of expected strong free cash flow in the year, driven primarily by working capital improvements.
Order backlog was $1.1 billion at the end of March compared to $1.2 billion at the end of December due to lower order intake during Q1. Customers continued to be cautious and postponed purchasing decisions in light of uncertain economic conditions and improved equipment availability. There were no unusual order cancellations in any of the Company's operations in the first quarter.

Q1 2013 HIGHLIGHTS BY OPERATION

Canada

Revenues declined by 3% compared to Q1 2012 impacted most notably by 20% lower new equipment sales, primarily to mining customers. While resource sector customers reduced spending on new equipment in the first quarter, demand for parts and service remained healthy. Product support revenues grew by 12% to record levels, primarily due to our expanded mining product line.
Canada's EBIT rose by 46% to $57 million and EBIT margin was 7.5% compared to 5.0% in Q1 2012. The year over year improvement is largely driven by the reduction in ERP system related costs as well as a favourable shift in revenue mix to higher margin product support. Reduced ERP costs were offset by additional expenses related to the expanded mining product line and the new Fort McKay service facility, as well as severance costs associated with the reduction of approximately 280 positions.
The Canadian operations remain focused on selling equipment and providing product support to a broad range of industries. In addition, the business is advancing operational excellence initiatives to increase service efficiency, improve working capital performance and reduce costs. In 2013, Finning Canada is expected to deliver improved EBIT margin performance over 2012.

South America

Revenues rose by 33% from Q1 2012 (31% in functional currency - USD) driven by strong new equipment sales and product support. In functional currency, new equipment sales were up 45% from Q1 2012, reflecting increased deliveries to mining and construction sectors in Chile. Product support revenues benefitted from our expanded mining product line and were 19% higher compared to Q1 2012.
EBIT increased by 19% to $57 million. EBIT margin was 9.0% compared to 10.0% in Q1 2012, primarily reflecting a shift in revenue mix from product support to new equipment sales which resulted in a lower gross profit margin compared to Q1 2012. High machine utilization levels are expected to drive strong product support revenue in South America in 2013.
South American operations are focused on capturing equipment opportunities in mining, construction and power systems as well as growing product support with the benefit of the large installed machine population. The business is also driving operational excellence initiatives related to supply chain and cost management.

United Kingdom and Ireland

Revenues declined by 10% from Q1 2012 reflecting reduced market activity in most sectors compared to last year. New equipment sales decreased by 11% due to lower volumes in Equipment Solutions. Product support revenues were 10% lower as a result of softer demand across most industries.
EBIT of $10 million was 17% below Q1 2012, and EBIT margin was 5.4% compared to 5.8% a year ago reflecting lower revenue levels.
The UK and Ireland operations are focused on sustaining solid financial performance through a period of weak demand by capitalizing on value-added opportunities in Equipment Solutions and Power Systems, capturing product support opportunities, and executing on operational excellence initiatives.

CORPORATE AND BUSINESS DEVELOPMENTS

Dividend

The Board of Directors has approved a 9% increase in the quarterly dividend to $0.1525 per share from $0.14 per share, payable on June 6, 2013 to shareholders of record on May 23, 2013. This dividend will be considered an eligible dividend for Canadian income tax purposes. In addition, the Company has increased its target dividend payout ratio to 25-35% from 25-30%.

SELECTED CONSOLIDATED FINANCIAL INFORMATION
(C$ millions, except per share amounts)

			Three months ended March 31
Revenue			2013		2012⁽⁶⁾		% change
	New equipment		643.9		631.4		2
	Used equipment		60.1		73.4		(18	)
	Equipment rental		93.0		91.2		2
	Product support		761.3		675.0		13
	Other		26.2		0.8		n/m
		Total revenue	1,584.5		1,471.8		8
Gross profit			497.9		444.5		12
Gross profit margin ⁽³⁾			31.4	%	30.2	%
SG&A			(382.3	)	(347.2	)	(10	)
SG&A as a percentage of revenue			(24.1	)%	(23.6	)%
Equity earnings			2.8		1.9
Other income (expenses)			(1.3	)	(2.4	)
EBIT			117.1		96.8		21
EBIT margin ⁽⁴⁾			7.4	%	6.6	%
Net income			73.4		64.3		14
Basic earnings per share (EPS)			0.43		0.37		16

EBITDA ⁽¹⁾			169.3		144.8		17
Free Cash Flow ⁽¹⁾⁽²⁾			(93.4	)	(222.7	)	58
			Mar 31, 13				Dec 31, 12
Total assets			5,194.4				5,118.0
Total shareholders' equity			1,623.2				1,566.6
Net debt to total capital ratio⁽⁵⁾			51.1			%	50.0	%

n/m = not meaningful as percentage change is significantly larger or not applicable

To download Finning's complete Q1 2013 results in PDF, please open the following link: http://media3.marketwire.com/docs/FinningQ113results.pdf

To download the CEO and CFO certification letters once they have been filed on SEDAR, please open the following link: http://www.sedar.com/DisplayCompanyDocuments.do?lang=EN&issuerNo=00001068

Q1 2013 RESULTS INVESTOR CALL

Management will hold an investor conference call on Thursday, May 9 at 11:00 am Eastern Time. Dial-in numbers: 1-866-226-1793 (anywhere within Canada and the U.S.) or (416) 340-2218 (for participants dialing from Toronto and overseas).

The call will be webcast live and subsequently archived at www.finning.com. Playback recording will be available at 1-800-408-3053 from 1:00 pm Eastern Time on May 9 until May 15. The pass code to access the playback recording is 4463383 followed by the number sign.

ABOUT FINNING

Footnotes

These amounts do not have a standardized meaning under generally accepted accounting principles. For a reconciliation of these amounts to net income and cash flow from operating activities, see the heading "Description of Non-GAAP and Additional GAAP Measures" in the Company's management discussion and analysis that accompanies the first quarter consolidated financial statements.
Free cash flow is defined as cash flow provided by (used in) operating activities less net additions to property, plant and equipment and intangible assets as disclosed in the Company's Consolidated Statements of Cash Flow.
Gross profit margin is defined as gross profit as a percentage of total revenue.
EBIT margin is defined as earnings before finance costs and income taxes as a percentage of total revenue.
Net debt to total capital ratio is calculated as short-term debt and long-term debt, net of cash and cash equivalents (net debt) divided by total capitalization. Total capitalization is defined as the sum of net debt and all components of equity (share capital, contributed surplus, accumulated other comprehensive loss, and retained earnings).
Prior year comparative figures have been restated to reflect the Company's adoption of the amendments to International Accounting Standard (IAS) 19, Employee Benefits, which became effective on January 1, 2013.

Forward-Looking Disclaimer

Contact Information:
Finning International Inc.
Mauk Breukels
Vice President, Investor Relations and Corporate Affairs
(604) 331-4934
mauk.breukels@finning.com
www.finning.com

Finning to Announce Q1 2013 Results and Hold Annual General Meeting on May 8, 2013; Investor Call on May 9, 2013

Wed, 24 Apr 2013 09:00:00 -0400

VANCOUVER, BRITISH COLUMBIA--(Marketwired - April 24, 2013) - Finning International Inc. (TSX:FTT) will release its first quarter 2013 results on Wednesday, May 8, 2013, after market close. The Company will hold an investor conference call to discuss the first quarter 2013 results on Thursday, May 9, 2013 at 11:00 AM Eastern Time.

To access the conference call, please dial one of the following numbers:

1-866-226-1793 (anywhere within Canada and the United States)

1-416-340-2218 (for participants dialing from the Toronto area and overseas)

To listen to the investor call via live or archived audio webcast and to view the slides which accompany the call, please visit the investor relations section of Finning's website at:

http://www.finning.com/Investors/Events/Event-Details/2013/Q1-2013-Investor-Call/default.aspx

A playback recording will be available at 1-800-408-3053 from 1:00 PM Eastern Time on May 9 until the end of the day on May 15, 2013. The pass code to access the playback recording is 4463383 followed by the number sign.

Finning's Annual Meeting of Shareholders will be held on Wednesday, May 8, 2013 at 2:00 PM Pacific Time (5:00 PM Eastern Time) at the following location:

Terminal City Club

837 West Hastings Street

Vancouver, British Columbia

To listen to the Annual General Meeting via live or archived audio webcast and to view the AGM slides please visit the investor relations section of the Finning's website at:

http://www.finning.com/Investors/Events/Event-Details/2013/2013-Annual-General-Meeting/default.aspx

Contact Information:
Finning International Inc.
Mauk Breukels
Vice President, Investor Relations and Corporate Affairs
(604) 331-4934
Mauk.Breukels@Finning.com
www.Finning.com

Finning Reports Record Earnings in Q4 and FY2012

Wed, 13 Feb 2013 09:00:00 -0500

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 13, 2013) - Finning International Inc. (TSX:FTT) -

Q4 2012 HIGHLIGHTS

Revenue of $1.8 billion was roughly on par with the record set in Q4 2011. Lower revenues in Canada and the UK & Ireland were partly offset by the highest-ever revenue from South America.
EBIT grew by 40% to a new quarterly record of $150 million and included a $9.7 million gain on the sale of property in Canada. Consolidated EBIT margin rose for the fifth consecutive quarter to 8.4%, driven primarily by EBIT margin improvement in Canada.
Basic EPS of $0.61 surpassed the previous quarterly earnings record by 24%.
The Company generated $245 million in free cash flow in Q4 2012.

Finning International Inc. reported fourth quarter revenues of $1.8 billion, 2% below the record levels in Q4 2011, as lower new equipment sales were partly offset by 11% growth in product support. South America posted record revenues across most lines of business, while revenues in Canada and the UK & Ireland decreased compared to Q4 2011. Quarterly earnings before finance costs and income taxes (EBIT) rose to a new record of $150 million. Quarterly EBIT margin continued to show sequential improvement over the last five quarters and reached 8.4% compared to 5.9% in Q4 2011. Basic earnings per share (EPS) increased by 49% from Q4 of last year to $0.61, an all-time high for the Company. Backlog declined from $1.4 billion at the end of September to $1.2 billion at the end of December primarily due to strong deliveries. While some customers remain cautious making purchasing decisions, order intake in Q4 was 42% higher compared to Q3 2012.

For the full year 2012:

Finning achieved record annual revenues of $6.6 billion which grew by 12% over 2011. New equipment sales increased by 7% to $3.1 billion - the highest level in Finning's history. Product support revenues also reached a new record, climbing by 18% to $2.8 billion.
The Company reported 31% EBIT growth over the prior year to a record-setting $496 million, and demonstrated sequential EBIT margin expansion throughout 2012. Annual EBIT margin improved to 7.5% from 6.4% in 2011, driven primarily by EBIT margin recovery in Canada. EBITDA of $709million was also at record levels.
Basic EPS increased to $1.96 from $1.51 in 2011 and was 25% higher than the previous annual earnings record reported in 2007.
Return on equity of 23.5% was the strongest in Finning's history.
The Company successfully executed on the acquisition and integration of the Bucyrus distribution and support business, which contributed incremental earnings of approximately $0.09 per share in 2012.

"We had an outstanding 2012 marked by numerous strategic achievements and record financial performance. Canada significantly improved operating profitability and expanded product support capabilities in the oil sands with the opening of a new service facility in Fort McKay. South America eclipsed previous records across the board; and, our UK and Ireland team enhanced our power systems capabilities with two strategic acquisitions. In addition, we are capitalizing on opportunities with mining customers following the successful Bucyrus acquisition," said Mike Waites, president and CEO of Finning International Inc.

"We enter 2013 uniquely positioned to deliver improved profitability. With the benefit of a full year with Bucyrus and continued product support growth from the expanding and aging machine population, we expect flat to ten percent revenue growth in 2013 over 2012. Having delivered sequential improvement in our operating performance, we expect continued progress in 2013 to drive higher EBIT margin, solid earnings growth and continued strong return on invested capital," continued Mr. Waites. "I am confident that by leveraging our 80-year heritage of superior customer service with our focus on advancing operational excellence we will drive additional value to our shareholders."

Q4 2012 FINANCIAL SUMMARY

C$ millions, except per share amounts (unaudited)	Three months ended Dec 31
	2012	2011	% change
Revenue	1,779	1,811	(2)
Earnings before finance costs and income taxes (EBIT)	150	107	40
Net income	105	71	49
Basic EPS	0.61	0.41	49
Earnings before finance costs, income taxes, depreciationand amortization (EBITDA)⁽¹⁾	205	156	32
Free cash flow⁽¹⁾⁽²⁾	245	281	(13)

Revenues declined by 2% from Q4 2011 to $1.8 billion, with record revenues in South America partly offsetting lower revenues in Canada and the UK & Ireland. New equipment sales were down by 14% primarily due to lower new equipment sales in Canada compared to record sales in Q4 2011. Product support revenues increased by 11% driven by strong growth in South America. Used equipment sales and rental revenues both rose by 4%.
Gross profit was 10% higher compared to Q4 2011, reflecting a favourable shift in revenue mix to higher margin product support, as well as higher gross profit margins in most lines of business. Consolidated gross profit margin increased to 29.3% from 26.2% in Q4 2011.
Selling, general and administrative (SG&A) expenses as a percentage of revenue were 21.5% compared to 20.3% in Q4 2011 due to higher costs associated with product support growth. However, this was the lowest quarterly SG&A as a percentage of revenue reported in 2012.
EBIT increased by 40% to a record $150 million, driven by the best-ever EBIT achieved in South America and significantly improved EBIT results in Canada compared to Q4 2011. The fourth quarter results included a $9.7 million gain on the sale of property in Canada. Consolidated EBIT margin rose to 8.4% compared to 5.9% in Q4 2011 and 7.8% in Q3 2012. The sequential EBIT margin expansion over the last five quarters was mostly the result of significantly improved EBIT performance in Canada.
Net income of $105 million and basic EPS of $0.61 were both at record levels. The newly acquired Bucyrus distribution business contributed approximately $0.04 per share of incremental profit to Q4 2012. Fourth quarter results also included approximately $0.06 per share gain from the property sale in Canada.
EBITDA reached an all-time quarterly high of $205 million. Quarterly free cash flow was $245 million compared to $281 million in Q4 2011. The Company continues to focus on prudently managing working capital and reducing uncommitted inventory levels.
The Company's net debt to total capital ratio⁽⁵⁾ declined to 50.0% at the year end from 52.3% at the end of September. The net debt to total capital ratio is temporarily above the 35-45% target range due to higher debt levels to fund the purchase of the former Bucyrus distribution business as well as working capital requirements. The Company expects net debt to total capital ratio to return within the target range by the end of 2013 as a result of strong free cash flow, lower capital expenditures and improved working capital metrics.
Order backlog declined to $1.2 billion at the end of December from $1.4 billion at the end of September. Compared to Q3 2012, deliveries were higher and more than offset a 42% increase in the order intake during Q4. The Company reported no unusual order cancellations in any of its operations in the fourth quarter. The current backlog is approximately $300 million below December 2011 levels as customers are more cautious and taking longer to make purchasing decisions in light of improved equipment availability and uncertain economic conditions.

Q4 2012 HIGHLIGHTS BY OPERATION

Canada

Revenues were 20% lower compared to the record levels in Q4 2011, mainly due to a 36% decline in new equipment sales from the exceptionally strong fourth quarter of 2011. While customers are taking a more cautious view on capital projects and expansions, market conditions in Western Canada were favourable in the fourth quarter. Product support revenues were comparable to Q4 2011 supported by stable activity in mining and heavy construction.
Canada's reported EBIT of $74 million was 70% higher than in Q4 2011 and included a $9.7 million gain on the sale of property. EBIT margin improved over the past five consecutive quarters and was 9.4% compared to 4.4% in Q4 2011, largely due to the reduction in ERP related costs.
Looking forward, Canada remains focused on driving operational excellence initiatives to improve working capital performance and increase service productivity. The Canadian operations expect to continue delivering improved EBIT margin performance in 2013.

South America

Revenues rose by 31% from Q4 2011, driven by record revenues in most lines of business. In functional currency (USD), revenues grew by 35% reflecting strong mining and construction activity in Chile, as well as the contribution from the newly integrated Bucyrus distribution business. In functional currency, new equipment sales and product support revenues set new records, climbing by 23% and 33% respectively.
EBIT increased by 34% to a record $76 million. EBIT margin improved to 9.8% from 9.5% in Q4 2011, reflecting leverage to record revenues through SG&A cost control and higher margins in most lines of business.
South America added approximately 1,000 employees to its workforce in 2012, a 15% increase from 2011, as the Company welcomed the former Bucyrus employees and added headcount to support the 28% annual growth in product support business over last year.
Going forward, South American operations remain focused on managing cost pressures of the competitive labour market and driving operational excellence initiatives.

United Kingdom and Ireland

Fourth quarter revenues declined by 4% from Q4 2011 (3% decline in functional currency), reflecting softer market activity in most sectors. In functional currency (GBP), new equipment sales decreased by 4% due to weaker economic conditions. Product support revenues were down by 5% over Q4 2011, primarily as a result of slower demand for parts.
EBIT declined by 30% to $10 million, and EBIT margin was 4.8% compared to 6.5% in Q4 2011, reflecting lower revenue levels and a pension curtailment gain of $6.4 million that was recorded in the fourth quarter of 2011.
Looking into 2013, the UK and Ireland operations are focused on driving value from completed strategic acquisitions, executing on operational excellence initiatives and sustaining financial performance through a period of soft demand.

CORPORATE AND BUSINESS DEVELOPMENTS

Dividend

The Board of Directors has approved a quarterly dividend of $0.14 per share, payable on March 14, 2013 to shareholders of record on February 28, 2013. This dividend will be considered an eligible dividend for Canadian income tax purposes.

CEO Planned Retirement and Transition Plan for 2013

On January 8, Finning announced that Mike Waites has decided to retire in 2013 and will not seek re-election as a director at Finning's 2013 annual meeting of shareholders. Mr. Waites will continue to serve as president and CEO until a replacement is appointed in order to facilitate an effective transition of responsibilities. As part of the company's succession process, the Board of Directors has retained an executive search firm to assist with the process of selecting a successor to Mr. Waites and is considering qualified internal and external candidates.

SELECTED CONSOLIDATED FINANCIAL INFORMATION
(C$ millions, except per share amounts)

			Three months ended Dec 31			Twelve months ended Dec 31
Revenue			2012	2011	% change	2012	2011	% change
	New equipment		847.7	990.0	(14)	3,077.2	2,889.0	7
	Used equipment		81.9	78.5	4	295.4	253.4	17
	Equipment rental		101.3	97.5	4	379.8	345.5	10
	Product support		712.0	642.6	11	2,815.4	2,395.6	18
	Other		36.5	2.0	n/m	54.3	11.4	n/m
		Total revenue	1,779.4	1,810.6	(2)	6,622.1	5,894.9	12
Gross profit			521.9	474.5	10	1,964.8	1,679.7	17
Gross profit margin ⁽³⁾			29.3%	26.2%		29.7%	28.5%
SG&A			(382.4)	(367.0)	(4)	(1,483.1)	(1,279.3)	(16)
SG&A as a percentage of revenue			(21.5)%	(20.3)%		(22.4)%	(21.7)%
Equity earnings			2.5	3.0		10.1	6.7
Other income (expenses)			7.8	(3.2)		4.7	(27.4)
EBIT			149.8	107.3	40	496.5	379.7	31
EBIT margin ⁽⁴⁾			8.4%	5.9%		7.5%	6.4%
Net income			105.4	70.6	49	337.6	259.4	30
Basic earnings per share (EPS)			0.61	0.41	49	1.96	1.51	30

EBITDA ⁽¹⁾			205.1	155.7	32	709.0	553.8	28
Free Cash Flow ⁽¹⁾⁽²⁾			244.8	280.7	(13)	(37.4)	(220.8)	83
						Dec 31, 12		Dec 31, 11
Total assets						5,118.0		4,085.4
Total shareholders' equity						1,566.6		1,345.0
Net debt to total capital ratio⁽⁵⁾						50.0%		42.0%

n/m = not meaningful as percentage change is significantly larger or not applicable

To download Finning's complete Q4 and annual 2012 results in PDF, please open the following link: http://media3.marketwire.com/docs/FinningQ412results.pdf

To download the CEO and CFO certification letters once they have been filed on SEDAR, please open the following link: http://www.sedar.com/DisplayCompanyDocuments.do?lang=EN&issuerNo=00001068

Q4 AND ANNUAL 2012 RESULTS INVESTOR CALL

Management will hold an investor conference call on Wednesday, February 13 at 11:00 am Eastern Time. Dial-in numbers: 1-866-226-1793 (anywhere within Canada and the U.S.) or (416) 340-2218 (for participants dialing from Toronto and overseas).

The call will be webcast live and subsequently archived at www.finning.com. Playback recording will be available at 1-800-408-3053 from 1:00 pm Eastern Time on February 13 until February 20. The pass code to access the playback recording is 4463383 followed by the number sign.

ABOUT FINNING

Finning International Inc. (TSX:FTT) is the world's largest Caterpillar equipment dealer delivering unrivalled service to customers for 80 years. Finning sells, rents and services equipment and engines to help customers maximize productivity. Headquartered in Vancouver, B.C., the Company operates in western Canada, Chile, Argentina, Bolivia, Uruguay, as well as in the United Kingdom and Ireland.

Footnotes

These amounts do not have a standardized meaning under generally accepted accounting principles. For a reconciliation of these amounts to net income and cash flow from operating activities, see the heading "Description of Non-GAAP and Additional GAAP Measures" in the Company's management discussion and analysis that accompanies the fourth quarter and annual consolidated financial statements.
Free cash flow is defined as cash flow provided by (used in) operating activities less net additions to property, plant and equipment and intangible assets as disclosed in the Company's Consolidated Statements of Cash Flow.
Gross profit margin is defined as gross profit as a percentage of total revenue.
EBIT margin is defined as earnings before finance costs and income taxes as a percentage of total revenue.
Net debt to total capital ratio is calculated as short-term debt and long-term debt, net of cash and cash equivalents (net debt) divided by total capitalization. Total capitalization is defined as the sum of net debt and all components of equity (share capital, contributed surplus, accumulated other comprehensive loss, and retained earnings).

Forward-Looking Disclaimer

This report contains statements about the Company's business outlook, objectives, plans, strategic priorities and other statements that are not historical facts. A statement Finning makes is forward-looking when it uses what the Company knows and expects today to make a statement about the future. Forward-looking statements may include words such as aim, anticipate, assumption, believe, could, expect, goal, guidance, intend, may, objective, outlook, plan, project, seek, should, strategy, strive, target, and will. Forward-looking statements in this report include, but are not limited to, statements with respect to: expectations with respect to the economy and associated impact on the Company's financial results; expected revenue and SG&A levels and EBIT growth; anticipated generation of free cash flow (including projected net capital and rental expenditures), and its expected use; anticipated defined benefit plan contributions; the expected target range of the Company's Debt Ratio; the impact of new and revised IFRS that have been issued but are not yet effective; growth prospects for the former Bucyrus business acquired by the Company in Finning's dealership territories (Bucyrus) and the competitive advantages of the business being acquired; expected future financial and operating results generated from Bucyrus; anticipated benefits and synergies of Bucyrus; and the expected impact of Bucyrus on Finning's earnings. All such forward-looking statements are made pursuant to the 'safe harbour' provisions of applicable Canadian securities laws.

Unless otherwise indicated by us, forward-looking statements in this report describe Finning's expectations at February 12, 2013. Except as may be required by Canadian securities laws, Finning does not undertake any obligation to update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.

Forward-looking statements, by their very nature, are subject to numerous risks and uncertainties and are based on several assumptions which give rise to the possibility that actual results could differ materially from the expectations expressed in or implied by such forward-looking statements and that Finning's business outlook, objectives, plans, strategic priorities and other statements that are not historical facts may not be achieved. As a result, Finning cannot guarantee that any forward-looking statement will materialize. Factors that could cause actual results or events to differ materially from those expressed in or implied by these forward-looking statements include: general economic and market conditions; foreign exchange rates; commodity prices; the level of customer confidence and spending, and the demand for, and prices of, Finning's products and services; Finning's dependence on the continued market acceptance of Caterpillar's products and Caterpillar's timely supply of parts and equipment; Finning's ability to continue to improve productivity and operational efficiencies while continuing to maintain customer service; Finning's ability to manage cost pressures as growth in revenues occur; Finning's ability to reduce costs in response to slowing activity levels; Finning's ability to attract sufficient skilled labour resources to meet growing product support demand; Finning's ability to negotiate and renew collective bargaining agreements with satisfactory terms for Finning's employees and the Company; the intensity of competitive activity; Finning's ability to successfully integrate the distribution and support business formerly operated by Bucyrus; Finning's ability to raise the capital needed to implement its business plan; regulatory initiatives or proceedings, litigation and changes in laws or regulations; stock market volatility; changes in political and economic environments for operations; the integrity, reliability, and availability of information technology and the data processed by that technology; expected operational benefits from the new ERP system. Forward-looking statements are provided in this report for the purpose of giving information about management's current expectations and plans and allowing investors and others to get a better understanding of Finning's operating environment. However, readers are cautioned that it may not be appropriate to use such forward-looking statements for any other purpose.

Contact Information:
Finning International Inc.
Mauk Breukels
Vice President, Investor Relations and Corporate Affairs
(604) 331-4934
mauk.breukels@finning.com
www.finning.com

Contact:

Finning Q4 and Annual 2012 Results and Investor Call-February 13, 2013

Wed, 30 Jan 2013 09:00:00 -0500

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 30, 2013) - Finning International Inc. (TSX:FTT) will release its fourth quarter and annual 2012 results on Wednesday, February 13, 2013 before market open. The Company will hold an investor conference call at 11:00 AM Eastern Time, on February 13, 2013.

To access the conference call, please dial one of the following numbers:

1-866-226-1793 (anywhere within Canada and the United States)

1-416-340-2218 (for participants dialing from the Toronto area and overseas)

To listen to the investor call via live or archived audio webcast and to view the slides which accompany the call, please visit the investor relations section of Finning's website at

http://www.finning.com/Investors/Events/Event-Details/2013/Q4-and-Annual-2012-Earnings-Release--Investor-Call/default.aspx

A playback recording will be available at 1-800-408-3053 from 1:00 PM Eastern Time on February 13 until the end of the day on February 18, 2013. The pass code to access the playback recording is 4463383 followed by the number sign.

Finning International Inc. is the world's largest Caterpillar equipment dealer delivering unrivalled service to customers for 80 years. Finning sells, rents and services equipment and engines to help customers maximize productivity. Headquartered in Vancouver, B.C., the Company operates in Western Canada, Chile, Argentina, Bolivia, Uruguay, as well as in the United Kingdom and Ireland.

Contact Information:
Finning International Inc.
Mauk Breukels
Vice President, Investor Relations and Corporate Affairs
604-331-4934
mauk.breukels@finning.com
www.finning.com

Contact:

Finning International Announces CEO Planned Retirement and Transition Plan for 2013

Tue, 08 Jan 2013 17:00:00 -0500

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 8, 2013) - Finning International Inc. (TSX:FTT) announced today that Mr. Mike Waites has decided to retire in 2013 and will not seek re-election as a director at Finning's 2013 annual meeting of shareholders. Mr. Waites will continue to serve as president and CEO until a replacement is appointed in order to facilitate an effective transition of responsibilities.

"This is the right decision as I approach the fifth anniversary of my tenure as CEO. I am confident that my decision comes at a time when Finning is well-positioned for continued success many years into the future," said Mr. Waites. "I am fully committed to working with the Board of Directors to identify a successor and I look forward to leading our strategic initiatives during this orderly transition period."

Mr. Doug Whitehead , chairman of Finning's Board of Directors, has advised that as part of the company's succession process, the Board of Directors has retained an executive search firm to assist with the process of selecting a successor to Mr. Waites and is considering qualified internal and external candidates.

Mr. Waites, 59, has led Finning International as president and chief executive officer since May of 2008. Prior to this, he held the position of executive vice president and chief financial officer of Finning International effective May 1, 2006.

Finning International Inc. (TSX:FTT) is the world's largest Caterpillar equipment dealer delivering unrivalled service to customers since 1933. Finning sells, rents and services equipment and engines to help customers maximize productivity. Headquartered in Vancouver, B.C., the Company operates in Western Canada, Chile, Argentina, Bolivia, Uruguay, as well as in the United Kingdom and Ireland.

Forward-looking disclaimer

This report contains statements about the Company's business outlook, objectives, plans, strategic priorities and other statements that are not historical facts. A statement Finning makes is forward-looking when it uses what the Company knows and expects today to make a statement about the future. Forward-looking statements may include words such as aim, anticipate, assumption, believe, could, expect, goal, guidance, intend, may, objective, outlook, plan, project, seek, should, strategy, strive, target, and will. Forward-looking statements in this report include, but are not limited to, statements with respect to: expectations with respect to the economy and associated impact on the Company's financial results; expected revenue and SG&A levels and EBIT growth; anticipated generation of free cash flow (including projected net capital and rental expenditures), and its expected use; anticipated defined benefit plan contributions; the expected target range of the Company's Debt Ratio; the impact of new and revised IFRS that have been issued but are not yet effective; growth prospects for the former Bucyrus business acquired by the Company in Finning's dealership territories (Bucyrus) and the competitive advantages of the business being acquired; expected future financial and operating results generated from Bucyrus; anticipated benefits and synergies of Bucyrus; and the expected impact of Bucyrus on Finning's earnings. All such forward-looking statements are made pursuant to the 'safe harbour' provisions of applicable Canadian securities laws.

Unless otherwise indicated by us, forward-looking statements in this report describe Finning's expectations at January 8, 2013. Except as may be required by Canadian securities laws, Finning does not undertake any obligation to update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.

Forward-looking statements, by their very nature, are subject to numerous risks and uncertainties and are based on several assumptions which give rise to the possibility that actual results could differ materially from the expectations expressed in or implied by such forward-looking statements and that Finning's business outlook, objectives, plans, strategic priorities and other statements that are not historical facts may not be achieved. As a result, Finning cannot guarantee that any forward-looking statement will materialize. Factors that could cause actual results or events to differ materially from those expressed in or implied by these forward-looking statements include: general economic and market conditions; foreign exchange rates; commodity prices; the level of customer confidence and spending, and the demand for, and prices of, Finning's products and services; Finning's dependence on the continued market acceptance of Caterpillar's products and Caterpillar's timely supply of parts and equipment; Finning's ability to continue to improve productivity and operational efficiencies while continuing to maintain customer service; Finning's ability to manage cost pressures as growth in revenues occur; Finning's ability to reduce costs in response to slowing activity levels; Finning's ability to attract sufficient skilled labour resources to meet growing product support demand; Finning's ability to negotiate and renew collective bargaining agreements with satisfactory terms for Finning's employees and the Company; the intensity of competitive activity; Finning's ability to successfully integrate the distribution and support business formerly operated by Bucyrus; Finning's ability to raise the capital needed to implement its business plan; regulatory initiatives or proceedings, litigation and changes in laws or regulations; stock market volatility; changes in political and economic environments for operations; the integrity, reliability, and availability of information technology and the data processed by that technology; expected operational benefits from the new ERP system. Forward-looking statements are provided in this report for the purpose of giving information about management's current expectations and plans and allowing investors and others to get a better understanding of Finning's operating environment. However, readers are cautioned that it may not be appropriate to use such forward-looking statements for any other purpose.

Contact Information:

Finning International Inc.

Mauk Breukels

Vice President, Investor Relations and Corporate Affairs

(604) 331-4934

mauk.breukels@finning.com

www.finning.com

Contact:

Finning Hosts Investor Day, Provides Outlook

Thu, 13 Dec 2012 07:00:00 -0500

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 13, 2012) - Finning International Inc. (TSX:FTT) ("Finning") is hosting its annual Investor Day on the morning of December 13, 2012 in Toronto. Finning's executive management team will provide an overview of strategy, an update on operations and the outlook for 2013. The video webcast and supporting presentations will be available on the investor relations section of www.finning.com.

"I am absolutely confident in our ability to continue driving improved profitability in the modest growth environment next year," said Mike Waites , president and CEO of Finning International. "We have the advantage of operating in diverse industry sectors and servicing a large equipment fleet across our territories which will sustain strong growth in our resilient product support business. We are also set to benefit from the contribution of a full year of operating our newly acquired Bucyrus distribution and support business."

"We are uniquely positioned to deliver value through our enhanced focus on operational excellence. Looking forward, we remain committed to improving operating profitability, driving a solid return on invested capital and strengthening our balance sheet," noted Mr. Waites.

Business conditions are expected to remain constructive, supported by stable mining activity in the Company's Canadian and South American operations. The outlook for the UK and Ireland is expected to be down versus 2012 due to slower economic conditions. On a consolidated basis, the Company expects:

revenue growth between zero and 10 percent in 2013 compared to 2012;
earnings to continue growing at a higher rate than revenue, as the Company remains committed to improving operating profitability and driving towards a 9 to 10 percent EBIT margin; and
net debt to total capital ratio to return within the 35 to 45 percent target range by the end of 2013.

Finning International Inc. (TSX:FTT) is the world's largest Caterpillar equipment dealer delivering unrivalled service to customers since 1933. Finning sells, rents and services equipment and engines to help customers maximize productivity. Headquartered in Vancouver, B.C., the Company operates in western Canada, Chile, Argentina, Bolivia, Uruguay, as well as in Ireland and the United Kingdom.

Forward-Looking Disclaimer

This report contains statements about the Company's business outlook, objectives, plans, strategic priorities and other statements that are not historical facts. A statement Finning makes is forward-looking when it uses what the Company knows and expects today to make a statement about the future. Forward-looking statements may include words such as aim, anticipate, assumption, believe, could, expect, goal, guidance, intend, may, objective, outlook, plan, project, seek, should, strategy, strive, target, and will. Forward-looking statements in this report include, but are not limited to, statements with respect to: expectations with respect to the economy and associated impact on the Company's financial results; expected revenue and SG&A levels and EBIT growth; anticipated generation of free cash flow (including projected net capital and rental expenditures), and its expected use; anticipated defined benefit plan contributions; the expected target range of the Company's Debt Ratio; the impact of new and revised IFRS that have been issued but are not yet effective; growth prospects for the former Bucyrus business acquired by the Company in Finning's dealership territories (Bucyrus) and the competitive advantages of the business being acquired; expected future financial and operating results generated from Bucyrus; anticipated benefits and synergies of Bucyrus; and the expected impact of Bucyrus on Finning's earnings. All such forward-looking statements are made pursuant to the 'safe harbour' provisions of applicable Canadian securities laws.

Unless otherwise indicated by us, forward-looking statements in this report describe Finning's expectations at December 13, 2012. Except as may be required by Canadian securities laws, Finning does not undertake any obligation to update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.

Forward-looking statements, by their very nature, are subject to numerous risks and uncertainties and are based on several assumptions which give rise to the possibility that actual results could differ materially from the expectations expressed in or implied by such forward-looking statements and that Finning's business outlook, objectives, plans, strategic priorities and other statements that are not historical facts may not be achieved. As a result, Finning cannot guarantee that any forward-looking statement will materialize. Factors that could cause actual results or events to differ materially from those expressed in or implied by these forward-looking statements include: general economic and market conditions; foreign exchange rates; commodity prices; the level of customer confidence and spending, and the demand for, and prices of, Finning's products and services; Finning's dependence on the continued market acceptance of Caterpillar's products and Caterpillar's timely supply of parts and equipment; Finning's ability to continue to improve productivity and operational efficiencies while continuing to maintain customer service; Finning's ability to manage cost pressures as growth in revenues occur; Finning's ability to reduce costs in response to slowing activity levels; Finning's ability to attract sufficient skilled labour resources to meet growing product support demand; Finning's ability to negotiate and renew collective bargaining agreements with satisfactory terms for Finning's employees and the Company; the intensity of competitive activity; Finning's ability to successfully integrate the distribution and support business formerly operated by Bucyrus; Finning's ability to raise the capital needed to implement its business plan; regulatory initiatives or proceedings, litigation and changes in laws or regulations; stock market volatility; changes in political and economic environments for operations; the integrity, reliability, and availability of information technology and the data processed by that technology; expected operational benefits from the new ERP system. Forward-looking statements are provided in this report for the purpose of giving information about management's current expectations and plans and allowing investors and others to get a better understanding of Finning's operating environment. However, readers are cautioned that it may not be appropriate to use such forward-looking statements for any other purpose.

Contact Information:

Finning International Inc.

Mauk Breukels

Vice President, Investor Relations and Corporate Affairs

(604) 331-4934

mauk.breukels@finning.com

www.finning.com

Contact:

Finning Investor Day-December 13, 2012

Wed, 28 Nov 2012 09:30:00 -0500

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 28, 2012) - Finning International Inc. (TSX:FTT) will host its annual Investor Day on Thursday, December 13 in Toronto.

The Investor Day will include an overview of the Company's strategy and operational excellence, an update on Finning's operations and the outlook for 2013. Presentations will be delivered by Mike Waites, President and CEO; Dave Smith, EVP and CFO; Juan Carlos Villegas, EVP and COO; Andy Fraser, President, Finning Canada; Marcello Marchese, President, Finning South America; and Neil Dickinson, Managing Director, Finning UK & Ireland. There will be time set aside for Q&A.

The Investor Day presentations will be video-webcast live from 9:00 am to 12:00 pm Eastern Time on the investor relations section of www.finning.com. The presentation slides will accompany the live video webcast. The webcast and supporting presentations in PDF will be archived on Finning's website following the event.

Finning International Inc. is the world's largest Caterpillar equipment dealer delivering unrivalled service to customers since 1933. Finning sells, rents and services equipment and engines to help customers maximize productivity. Headquartered in Vancouver, B.C., the Company operates in western Canada, Chile, Argentina, Bolivia, Uruguay, as well as the United Kingdom and Ireland.

Contact Information:
Finning International Inc.
Mauk Breukels
Vice President, Investor Relations and Corporate Affairs
(604) 331-4934
mauk.breukels@finning.com
www.finning.com

Contact:

Finning Awarded Mining Contracts in Chile Valued at Approximately $500 Million (US)

Thu, 08 Nov 2012 08:02:00 -0500

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 8, 2012) -

Finning International Inc. (TSX:FTT) announced today that its South American operations have been awarded three significant contracts to provide equipment and maintenance services to leading mining companies in Chile. The combined value of the contracts is $497 million (US), comprised of $247 million in new equipment and $250 million in maintenance services.

Finning has been awarded a $130 million equipment sale along with a letter of intent for a five-year maintenance contract, valued at $120 million, by CAP Minería for their El Romeral iron ore mine. Capitalizing on Finning's expanded product portfolio following its acquisition of the former Bucyrus business, the equipment package includes twenty Cat 793F trucks along with three 6060BH hydraulic shovels. The equipment will be included in Finning's backlog in Q4 2012 and will be delivered throughout 2013 and 2014.

In addition, Finning has been awarded a contract valued at $62 million from a large mining company to provide mobile equipment to one of its mines in Chile. The equipment will be included in the Q4 2012 backlog and delivered in the first quarter of 2013.

Finning has also secured an eight-year maintenance services contract valued at $130 million with Codelco. Under this contract, Finning will provide parts and services for equipment sold earlier this year to Codelco for their El Teniente's new and first open pit mine, Rajo Sur . This $55 million equipment package, which is included in the September 30, 2012 backlog, is being delivered in the fourth quarter of this year.

"We are extremely pleased to secure these significant mining contracts which will help drive our continued growth in the near and distant future," said Marcello Marchese , president of Finning South America. "These contract wins are a testament to our leadership position in the mining sector and underscore our commitment to meeting the ongoing needs of our mining customers."

Finning International Inc. (TSX:FTT) is the world's largest Caterpillar equipment dealer delivering unrivalled service to customers since 1933. Finning sells, rents and services equipment and engines to help customers maximize productivity. Headquartered in Vancouver, B.C., the Company operates in western Canada, Chile, Argentina, Bolivia, Uruguay, as well as in the United Kingdom and Ireland.

Forward Looking Information

This report contains statements about the Company's business outlook, objectives, plans, strategic priorities and other statements that are not historical facts. A statement Finning makes is forward-looking when it uses what the Company knows and expects today to make a statement about the future. Forward-looking statements may include words such as aim, anticipate, assumption, believe, could, expect, goal, guidance, intend, may, objective, outlook, plan, project, seek, should, strategy, strive, target, and will. Forward-looking statements in this report include, but are not limited to, statements with respect to: expectations with respect to the economy and associated impact on the Company's financial results; expected revenue and SG&A levels and EBIT growth; anticipated generation of free cash flow (including projected net capital and rental expenditures), and its expected use; anticipated defined benefit plan contributions; the expected target range of Debt Ratio; the impact of new and revised IFRS that have been issued but are not yet effective; growth prospects for the former Bucyrus business acquired by the Company in Finning's dealership territories (Bucyrus) and the competitive advantages of the business being acquired; expected future financial and operating results generated from Bucyrus; anticipated benefits and synergies of Bucyrus; and the expected impact of Bucyrus on Finning's earnings. All such forward-looking statements are made pursuant to the 'safe harbour' provisions of applicable Canadian securities laws.

Unless otherwise indicated by us, forward-looking statements in this report describe Finning's expectations at November 7, 2012. Except as may be required by Canadian securities laws, Finning does not undertake any obligation to update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.

Forward-looking statements, by their very nature, are subject to numerous risks and uncertainties and are based on several assumptions which give rise to the possibility that actual results could differ materially from the expectations expressed in or implied by such forward-looking statements and that Finning's business outlook, objectives, plans, strategic priorities and other statements that are not historical facts may not be achieved. As a result, Finning cannot guarantee that any forward-looking statement will materialize. Factors that could cause actual results or events to differ materially from those expressed in or implied by these forward-looking statements include: general economic and market conditions; foreign exchange rates; commodity prices; the level of customer confidence and spending, and the demand for, and prices of, Finning's products and services; Finning's dependence on the continued market acceptance of Caterpillar's products and Caterpillar's timely supply of parts and equipment; Finning's ability to continue to improve productivity and operational efficiencies while continuing to maintain customer service; Finning's ability to manage cost pressures as growth in revenues occur; Finning's ability to reduce costs in response to slowing activity levels; Finning's ability to attract sufficient skilled labour resources to meet growing product support demand; Finning's ability to negotiate and renew collective bargaining agreements with satisfactory terms for Finning's employees and the Company; the intensity of competitive activity; Finning's ability to successfully integrate the distribution and support business formerly operated by Bucyrus after that transaction closes; Finning's ability to raise the capital needed to implement its business plan; regulatory initiatives or proceedings, litigation and changes in laws or regulations; stock market volatility; changes in political and economic environments for operations; the integrity, reliability, and availability of information technology and the data processed by that technology; operational benefits from the new ERP system. Forward-looking statements are provided in this report for the purpose of giving information about management's current expectations and plans and allowing investors and others to get a better understanding of Finning's operating environment. However, readers are cautioned that it may not be appropriate to use such forward-looking statements for any other purpose.

Contact Information:

Finning International Inc.
Mauk Breukels
Vice President, Investor Relations and Corporate Affairs
604-331-4934
mauk.breukels@finning.com
www.finning.com