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  "docSlug": "954987ce0454",
  "documentTitle": "Mettler-Toledo International, Inc. (MTD)",
  "authorId": "54_Spruce_Point_Capital",
  "authorName": "Ben Axler",
  "documentKindSlug": "activist-deck",
  "documentKindLabel": "Activist deck",
  "sourceTypeSlug": "short_seller",
  "sourceTypeLabel": "Short seller",
  "presentationDate": "2019-07-24 00:00:00",
  "orientation": "landscape",
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  "pageNumber": 34,
  "pageCount": 136,
  "prevPage": 33,
  "nextPage": 35,
  "slideType": "expose_contradiction",
  "function": "expose_contradiction",
  "density": "balanced",
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  "notes": "Uses a screenshot of a website's region selector to prove the company's actual go-to-market structure.",
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      "kind": "callout",
      "text": "MTD does not disclose sales by industry end market, instead broadly reporting sales in three product categories (lab, industrial, and retail) without providing details of margins in these three categories.",
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      "kind": "image",
      "text": "Website screenshot showing region selection",
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      "kind": "list",
      "text": "MTD's website is clearly organized around products, industries, and four distinct geographies. However, its financial reporting does not reflect its go to market strategy to customers. MTD does not disclose sales by industry end market, instead broadly reporting sales in three product categories (lab, industrial, and retail) without providing details of margins in these three categories. In addition, segment reporting is centered on US, Swiss, Western Europe, and Chinese operations. Yet, the customer focus is oriented towards Americas, Europe, Middle East & Africa, and Asia & Pacific",
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      "kind": "paragraph",
      "text": "Our concerns about the dysfunction of Mettler can be seen by the disparity of its customer facing website and its financial reporting.",
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      "kind": "source-note",
      "text": "Source: MT.com",
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      "kind": "title",
      "text": "Financial Reporting Not Aligned With Go-To-Market Strategy",
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      "arcName": "Overcoming the Monster",
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