Resonac Holdings Corporation · TSE:4004
Resonac — H1 2024 Earnings Presentation
27 slides from Resonac's earnings presentation, Aug 8, 2024
Slide 1: Consolidated Financial Results First Half, 2024
Consolidated Financial Results First Half, 2024 Hideki Somemiya, CFO Director & Managing Corporate Officer August 8, 2024
Slide 2: Key Takeaways
Key Takeaways 1. 2024 1H saw improvements both in sales and income compared to 2023 1H 2. 2024 full-year forecast revised upward, expects increased sales and income compared to 2023 ©Resonac Holdings Corporation All Rights Reserved. 2
Slide 3: Table of Contents
Table of Contents 1. 2024 1H Consolidated Financial Statements 2. 2024 Performance Forecast ©Resonac Holdings Corporation All Rights Reserved.
Slide 4: Summary (2023 1H vs. 2024 1H)
Summary (2023 1H vs. 2024 1H) (Unit: Billions of Yen) 2023 2024 Increase/ Reference Based on ongoing businesses *1 (Unit: Billions of Yen) 1H 1H Decrease 2023 2024 Increase/ Net sales 616.1 668.5 52.4 1H 1H Decrease Net sales 609.6 668.5 58.9 Operating income (13.2) 28.0 41.1 Operating Non-operating
Slide 5: Breakdown of Operating Income Changes (2023 1H vs. 2024 1H)
Breakdown of Operating Income Changes (2023 1H vs. 2024 1H) Semiconductor & Electronic Materials +4.4 Semiconductor & (Unit: Billions of Yen) Electronic Materials +4.0 Semiconductor & Electronic Materials +5.2 Semiconductor & Electronic Materials +21.1 ©Resonac Holdings Corporation All Rights Reserv
Slide 6: Breakdown of Segment Operating Income Changes
Breakdown of Segment Operating Income Changes (2023 1H vs. 2024 1H) Semiconductor & Electronic Materials (Unit: Billions of Yen) Mobility (Unit: Billions of Yen) * Change in segmentation applied retroactively (Aluminum Specialty Components business moved from Innovation Enabling Materials to Mobilit
Slide 7: Breakdown of Segment Operating Income Changes
Breakdown of Segment Operating Income Changes (2023 1H vs. 2024 1H) Innovation Enabling Materials (Unit: Billions of Yen) Chemicals (Unit: Billions of Yen) * Change in segmentation applied retroactively (Aluminum Specialty Components business moved from Innovation Enabling Materials to Mobility) ©Re
Slide 8: Segment Breakdown (2023 1H vs. 2024 1H)
Sales, Operating Income and EBITDA: Segment Breakdown (2023 1H vs. 2024 1H) (Unit: Billions of Yen) 2023 2024 Increase/ Segment 1H* 1H Decrease Sales 153.4 209.6 56.2 37% Semiconductor and Operating Income (13.1) 21.6 34.7 - Electronic Materials EBITDA 13.3 48.6 35.4 267% Sales 103.9 108.0 4.1 4% Mo
Slide 9: Semiconductor and Electronic Materials
Segment Summary (2023 1H vs. 2024 1H) Semiconductor and Electronic Materials (Unit: Billions of Yen) 2023 2024 Increase/ Performance Overview 1H 1H Decrease Sales 153.4 209.6 56.2 37% Both sales and operating income increased as sales volume increased, thanks to the gradual Front-end Semiconductor r
Slide 10: Mobility
Segment Summary (2023 1H vs. 2024 1H) Mobility (Unit: Billions of Yen) 2023 2024 Increase/ Performance Overview 1H* 1H Decrease Sales Both sales and operating income increased as 103.9 108.0 4.1 4% automobile production recovered and sales volume related to new model vehicles grew Automotive Product
Slide 11: Innovation Enabling Materials
Segment Summary (2023 1H vs. 2024 1H) Innovation Enabling Materials (Unit: Billions of Yen) 2023 2024 Increase/ Performance Overview 1H* 1H Decrease Sales 43.6 47.0 3.5 8% Sales increased as sales price was raised to Operating Income 2.9 5.5 2.6 92% reflect the sharp increase of material costs and s
Slide 12: Chemicals
Segment Summary (2023 1H vs. 2024 1H) Chemicals (Unit: Billions of Yen) 2023 2024 Increase/ Performance Overview 1H 1H Decrease Sales 254.9 245.4 (9.5) (4%) - Olefins & Derivatives: Both sales and operating income increased due to higher naphtha price, Olefins & Derivatives while sales volume decrea
Slide 13: Non-operating Income/Expenses, Extraordinary Profit/Loss
Non-operating Income/Expenses, Extraordinary Profit/Loss Non-operating Income/Expenses (Unit: Billions of Yen) Extraordinary Profit/Loss (Unit: Billions of Yen) 2023 2024 Increase/ 2023 2024 Increase/ 1H 1H Decrease 1H 1H Decrease Interest/Dividends Gain on sale of noncurrent (5.6) (5.1) 0.5 1.5 20.
Slide 14: Consolidated Balance Sheet
Consolidated Balance Sheet Consolidated Balance Sheet (Unit: Billions of Yen) Dec. 31, Jun. 30, Increase/ Dec. 31, Jun. 30, Increase/ Assets Decrease Liabilities and net assets Decrease 2023 2024 2023 2024 Cash and deposits 190.3 238.4 48.1 Notes and accounts payable 177.4 177.2 (0.2) Notes and acco
Slide 15: Table of Contents
Table of Contents 1. 2024 1H Consolidated Financial Statements 2. 2024 Performance Forecast ©Resonac Holdings Corporation All Rights Reserved.
Slide 16: 2024 Consolidated Forecast
2024 Consolidated Forecast (Unit: Billions of Yen) Increase/ 2024 Increase/ 2023 2024 Decrease Decrease Earlier Results (A) Forecast (C)*1 (C) – (B) (C) – (A) Forecast (B)*2 Net sales 1,288.9 1,392.0 103.1 1,360.0 32.0 Operating income (3.8) 61.0 64.8 47.0 14.0 Non-operating income and expenses, net
Slide 17: Segment Breakdown (Consolidated) 2024 Sales and Operating Income
2024 Sales and Operating Income: Segment Breakdown (Consolidated) (Unit: Billions 2024 Forecast*1 2023 Results*2 2024 Earlier Forecast*3 of Yen) Segment 1Q 2Q 1H Full-year Full-year Increase/ Full-year Increase/ Results Results Results Forecast Results Decrease Forecast Decrease Sales 97.5 112.1 209
Slide 18: Appendix
Appendix ©Resonac Holdings Corporation All Rights Reserved.
Slide 19: Consolidated Companies, Key Outside Factors
Reference Consolidated Companies, Key Outside Factors Consolidated Companies Consolidated subsidiaries: 101 (-1 from Dec. 31, 2023) -1: Related to the liquidation of a foreign subsidiary Equity method applied: 12 (unchanged from Dec. 31, 2023) Key Outside Factors (Average) 2023 2024 Items 1H Full-ye
Slide 20: Consolidated Cash Flows
Reference Consolidated Cash Flows (Unit: Billions of Yen) 2023 2024 2023 1H 2024 1H Increase/ Increase/ Results Results Decrease Full-year Full-year Decrease Results Forecast CF from operating activities 48.1 53.3 5.2 118.7 114.0 (4.7) CF from investing activities (45.1) (11.1) 34.1 (61.9) (82.0) (2
Slide 21: Capital Expenditures, Depreciation, R&D expenditures and Financial costs
Capital Expenditures, Depreciation, R&D expenditures and Financial costs Reference (Consolidated) (Unit: Billions of Yen) 2023 2024 2023 1H 2024 1H Increase/ Increase/ Results*1 Results Decrease Full-year Full-year Decrease Results*1 Forecast Capital expenditures 39.1 46.0 6.8 96.6 122.4 25.8 Deprec
Slide 22: Capital Expenditures: Segment Breakdown
Reference Capital Expenditures: Segment Breakdown (Unit: Billions of Yen) 2023 2024 2023 1H 2024 1H Increase/ Increase/ Segment Results* Results Decrease Full-year Full-year Decrease Results* Forecast Semiconductor and 18.9 23.1 4.2 38.8 64.1 25.3 Electronic Materials Mobility 5.0 5.9 0.9 13.4 11.4
Slide 23: Depreciation: Segment Breakdown
Reference Depreciation: Segment Breakdown 2023 2024 (Unit: Billions of Yen) 2023 1H 2024 1H Increase/ Increase/ Segment Decrease Full-year Full-year Decrease Results*1 Results Results*1 Forecast Depreciation (excl. PPA) 13.5 14.2 0.7 27.6 28.6 1.0 Semiconductor and PPA depreciation 6.2 6.2 - 12.4 12
Slide 24: Summary (2024 1Q vs. 2024 2Q)
Reference Summary (2024 1Q vs. 2024 2Q) (Unit: Billions of Yen) Increase/ 2024 1Q 2024 2Q Decrease Net sales 321.4 347.2 25.8 Operating income 8.9 19.0 10.1 Non-operating income and 2.1 0.4 (1.6) expenses, net Ordinary income 11.0 19.5 8.5 Extraordinary profit/loss 18.7 (1.0) (19.7) Income before in
Slide 25: Segment Breakdown (Consolidated) 2023 Sales and Operating Income
Reference Sales and Operating Income 2023: Segment Breakdown (Consolidated) (Unit: Billions of Yen) 2023*1 Segment 1Q 2Q 3Q 4Q Full-year Semiconductor and Sales 69.4 84.0 88.3 96.4 338.1 Electronic Materials Operating Income (10.4) (2.7) 0.6 3.0 (9.4) Sales 51.8 52.1 55.4 56.7 216.1 Mobility Operati
Slide 26: Topics
Reference Topics Segment Topics Resonac Announces New US-JOINT Consortium Semiconductor 10 Partners to Collaborate on Next-Generation Semiconductor Packaging in Silicon Valley and Electronic Materials Resonac Announces to Sell Former HD Plant Building in Taiwan Mobility Resonac Develops High-perform
Slide 27: Note
Note Performance forecast and other statements pertaining to the future as contained in this presentation are based on the information available as of today and assumptions as of today regarding risk factors that could affect our future performance. Actual results may differ materially from the fore