Slide 1: FY2024/6 Business Results
ULVAC, Inc. FY2024/6 Business Results (July 2023 - Jun 2024) Aug.13, 2024 Copyright© 2024, ULVAC, Inc. All rights reserved 1
Slide 2: Disclaimer regarding forward-looking statements etc.
Disclaimer regarding forward-looking statements etc. Forward-looking statements Forward-looking statements of the company in this presentation are based on information that was available at the time these documents were prepared. There are several factors that directly or indirectly impact the com
Slide 3: Summary
Summary Consolidated Financial Results for FY24/6 Orders received, Net sales, and each profit item significantly exceeded YoY and the plan. Net sales: ¥261.1 billion, Gross profit margin: 30.9% ⇒ Highest level since listing FY24/6 dividend of ¥144 (+¥30 vs. previous forecast) ⇒ Record high For
Slide 4: FY24/6 Business Results
FY24/6 Business Results Copyright© 2024, ULVAC, Inc. All rights reserved 4
Slide 5: Business Results for FY24/6
1 Business Results for FY24/6 Orders received, Net sales, and each profit item significantly exceeded both the previous year and the plan. Net sales: ¥261.1 billion, Gross profit margin: 30.9% ⇒ Highest level since listing FY24/6 dividend of ¥144 (+¥30 vs. previous forecast) ⇒ Record high FY23
Slide 6: Orders Received / Sales Results
2 Orders Received / Sales Results Orders received: Increased YoY due to increased investment in Power devices, Batteries and Materials Net sales: ¥261.1 billion, the highest level since the company listing, due to an increase in Orders received and the contribution of a high level of order backl
Slide 7: Profit Margins
3 Profit Margins Gross profit margin: 30.9%, the highest level since listing, due to increased Net sales, improved mix, etc. Operating profit margin: In addition to an improvement in Gross profit margin, the SG&A expense ratio also declined, resulting in a significant improvement. Gross Profit M
Slide 8: Consolidated Balance Sheet
4 Consolidated Balance Sheet Assets Unit: ¥1 billion Liabilities and Net Assets Unit: ¥1 billion 388.7 388.7 *Advances received (contract liabilities) 353.5 353.5 46.3 ¥26.6 billion Cash on hand and in banks 96.3 Note and accounts 47.3 payable,trade 46.8 98.4 Notes and accounts receivable,trade 42.0
Slide 9: Review of Mid-Term Management Plan and FY25/6 Consolidated Earnings Forecast
Review of Mid-Term Management Plan and FY25/6 Consolidated Earnings Forecast Copyright© 2024, ULVAC, Inc. All rights reserved 9
Slide 10: Progress of Mid-Term Management Plan
1 Progress of Mid-Term Management Plan Mid-term management plan targets (FY26/6): Net sales of ¥300 billion and Operating profit margin of ¥48 billion (16%) remain unchanged. Basic Policy Priority Strategies • Creating Social Value Through Vacuum 1. Strengthening Product Competitiveness in Technol
Slide 11: Forecast for FY25/6
2 Forecast for FY25/6 Orders received: ¥270.0 billion (+5% YoY) due to recovery of investment in Semiconductors (Memory and Logic) and full- scale investment in OLEDs. Net sales: ¥ 275.0 billion (+5% YoY), mainly due to increased Orders received and contribution from high level of backlog Oper
Slide 12: Orders Received and Net Sales Plan (FY25/6)
3 Orders Received and Net Sales Plan (FY25/6) Orders received: ¥270.0 billion due to recovery of investment in Semiconductors (Memory and Logic), full-scale investment in OLEDs, and increases in Components (Leak Test Equipment, etc.) and Others (Surface Analysis Systems, etc.) Net sales: ¥275.0
Slide 13: Profit Margin Plan (FY25/6)
4 Profit Margin Plan (FY25/6) Gross profit margin will steadily improve due to higher Net sales and the mix effect from the increased ratio of Semiconductors and Electronics. Operating profit margin is also expected to improve Gross Profit Margin (Unit: ￥1 billion, %) Operating Profit Margin (Un
Slide 14: Orders Received Plan (Growth Driver)
5 Orders Received Plan (Growth Driver) Growth driven by OLEDs for IT panels, Leak test equipment (Components), and Surface analysis system (Others), in addition to recovery of investment in Semiconductors (Memory and Logic), entry into new processes, and Batteries, etc. Accelerate growth from FY
Slide 15: Semiconductors: Investment recovery, new customer development, entry into new processes
6 Semiconductors: Investment recovery, new customer development, entry into new processes Steady growth in memory (DRAM and NAND) and Logic due to investment recovery, new customer development, and entry into new processes Logic Order Plan Unit: ¥1 billion › New Business: 30 (1) Acquiring new cust
Slide 16: Electronics and Power Devices Business
7 Electronics and Power Devices Business Due to a slow down in EV growth, full-scale investment in 8 inch SiC is expected in FY27/6 and onward (1) Japan: Sputtering equipment and China: Ion Implanter and Etching systems, in addition to (2) Japan: Ion Implanter and Etching systems, which have a h
Slide 17: Battery Business
8 Battery Business Expect investment for this year to be in the same level YoY, but full-scale investment will begin in FY26/6 along with the adoption of EVs Batteries for vehicles. Growth through (1) productivity improvement by wider film width (aluminum), (2) correspondence to anode current co
Slide 18: OLEDs Business
9 OLEDs Business Full-scale investment in mass production of OLEDs (G8.7 class) for IT panels (tablets and PC) ⇒Business opportunity with G8.7 Sputtering equipment and Cryopumps OLEDs (G8.7) Sputtering equipment for IT Cryopumps Classified as "Components panels Multi chamber sputtering equipment f
Slide 19: Leak Test Equipment and Surface Analysis System
10 Leak Test Equipment and Surface Analysis System Increased business opportunities due to growing demand for leak testing, etc., in conjunction with EVs, and expanding needs for surface analysis, etc. Leak Testing System Classified as "Components" Surface Analysis System Classified as "Other" Exp
Slide 20: Improved productivity and profit margins by strengthening manufacturing capabilities
11 Improved productivity and profit margins by strengthening manufacturing capabilities Expand planned production system for Semiconductors, Power devices, Batteries, etc. Improved profit margin by promoting planned production expansion, strengthening product planning, productivity improvement,
Slide 21: R&D investment: Strengthen R&D for growth drivers
12 R&D investment: Strengthen R&D for growth drivers Strengthen R&D on growth drivers (Semiconductors, Power devices, Batteries, etc.) No change in R&D Investment Plan (R&D Capital Investment + R&D Expenses, FY24/6-FY26/6) of ¥75.0 billion Completion of Korea Technology Center: Accelerating jo
Slide 22: Shareholder Return
13 Shareholder Return Strengthen development investment in growth areas, particularly Semiconductors and Electronics Positioning shareholder returns as one of our most important policies, we aim to increase dividends over the long term through further growth. Increased performance-linked divid
Slide 23: Appendix
Appendix Copyright© 2024, ULVAC, Inc. All rights reserved 23
Slide 24: Consolidated Financial Results (Quarterly Actual)
1 Consolidated Financial Results (Quarterly Actual) FY 23/6 FY 24/6 YoY Unit: ¥1 billion Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Amount % Orders Received 66.6 62.5 43.4 74.7 78.0 56.1 55.6 68.5 -6.2 -8% Net Sales 56.2 55.2 49.6 66.6 55.0 65.2 65.0 75.9 +9.3 +14% Gross Profit 16.5 16.8 14.7 19.1 15.3 20.1 22.0 23.3
Slide 25: Orders received and Net sales by Product Category (Quarterly Actual)
2 Orders received and Net sales by Product Category (Quarterly Actual) Orders Received Unit: ¥1 billion Net Sales Unit: ¥1 billion Semiconductors & Electronics Semiconductors & Electronics Device Production Equipment Component Materials Device Production Equipment Component Materials Display and ene
Slide 26: Profit Margins (Quarterly Actual)
3 Profit Margins (Quarterly Actual) Gross Profit Margin Operating Profit Margin S.G.&A. Expenses (%) (Unit: ￥1 billion, %) (Unit: ￥1 billion, %) (Unit: ￥1 billion, %) SG&A Expenses Net Sales Gross Profit Margin Net Sales Operating Profit Margin R&D Expenses SG&A Expenses to Net sales ratio 25.1 22.6
Slide 27: Net sales by Region (Actual)
4 Net sales by Region (Actual) Net Sales Unit: ¥1 billion Net Sales Ratio Japan China Korea Taiwan Other Asia Europe,others Japan China Korea Taiwan Other Asia Europe,others 261.1 241.3 5% 4% 4% 5% 24.2 2% 2% 9% 3% 3% 9.5 227.5 10.3 4.7 8% 10% 12% 4% 12.0 10% 29.2 7.0 21.8 8% 11% 14% 185.4 22.8 15%
Slide 28: Changes in Capital Investment and R&D Expenses
5 Changes in Capital Investment and R&D Expenses (Actual and FY24 Plan) Capital Expenditure Unit: ¥1 billion R&D Expenses Unit: ¥1 billion Buildings, production facilities, Depreciation and etc. amortization Research and Development Facilities 21.5 13.8 14.0 13.3 19.7 19.2 10.3 11.9 10.5 8.4 8.4 16.
Slide 29: Solving Social Issues
6 Supporting the realization of a smart and digital society and green energy through technological innovation Solving Social Issues Smart and Digital Society Green Energy Conversion Realization Low Power Consumption Sensor・ Memory Logic IC Electronic Devices Power Device Battery Miniaturization/ Hig
Slide 30: ULVAC Vacuum Technology Contributes to Many Industries and Applications
ULVAC Vacuum Technology Contributes to Many Industries and Applications Copyright© 2024, ULVAC, Inc. All rights reserved 30