Resonac Holdings Corporation · TSE:4004
Resonac — Showa Denko K.K. — Q1 2018 Earnings Presentation
20 slides from Resonac's earnings presentation, May 9, 2018
Slide 1: First Quarter, 2018 Financial Results - Consolidated
Evolving unique chemical company First Quarter, 2018 Financial Results - Consolidated - SHOWA DENKO K.K. May 9, 2018 Toshiharu Kato, CFO Director & Corporate Officer Performance forecast and other statements pertaining to the future as contained in this presentation are based on the information avai
Slide 2: Consolidated Companies and Selected Data
Consolidated Companies Consolidated subsidiaries: 62 Newly consolidated or excluded: none Equity method applied: 11 Newly applied or excluded: none Selected Data (Average figure) Jan.- Mar. Jan.- Mar. Increase/ 2017 2018 decrease Exchange rates: 113.6 108.3 Yen appreciated ¥/US$ by ¥5.3/$ ¥/€ 1
Slide 3: Summary
Summary (Unit: Billions of Yen) 2018 1H forecast Increase/ CQ1, 2017 CQ1, 2018 decrease Initial Revised forecast* forecast* Net Sales 183.2 214.7 31.5 417.0 452.0 Operating Income 19.7 34.4 14.7 41.0 68.0 Non-operating income and -2.0 -1.6 0.4 -2.0 -3.5 expenses, net Interest/Dividends income and ex
Slide 4: Extraordinary Profit/Loss
Extraordinary Profit/Loss (Unit: Billions of Yen) Increase/ CQ1, 2017 CQ1, 2018 decrease Extraordinary Profit 0.2 0 -0.2 Gain on sales of investment securities 0.2 － -0.2 Extraordinary Loss -1.6 -0.9 0.7 Loss on sales and retirement of noncurrent -0.6 -0.7 -0.1 assets Other -1.0 -0.2 0.8 Extra
Slide 5: Consolidated Sales by Segment
Consolidated Sales by Segment (Unit: Billions of Yen) 2018 1H forecast CQ1, CQ1, Increase/ decrease Initial Revised 2017 2018 forecast* forecast* 【Olefins】 sales decreased Petro- (shipment volumes down due to shutdown maintenance) chemicals 64.6 53.8 -10.8 【Organic chemicals】 sales increased (vinyl
Slide 6: Consolidated Operating Income by Segment
Consolidated Operating Income by Segment (Unit: Billions of Yen) 2018 1H forecast CQ1, CQ1, Increase/ decrease Initial Revised 2017 2018 forecast* forecast* 【Olefins】 profit decreased (shipment volumes down due to Petro- 10.6 3.3 -7.2 4.0 5.0 shutdown maintenance) chemicals 【Organic chemicals】 profi
Slide 7: Consolidated Balance Sheet
Consolidated Balance Sheet (Unit: Billions of Yen) Assets Dec. 31, Mar. 31, Increase/ Liabilities and Net Assets Dec. 31, Mar. 31, Increase/ 2017 2018 decrease 2017 2018 decrease Cash and deposits 77.2 82.7 5.5 Notes and accounts payable 120.8 120.8 0 Notes and accounts receivable 176.0 162.8 -13.2
Slide 8: Total Assets, Interest-bearing Debt and D/E ratio
Total Assets Interest-bearing Debt and D/E ratio (Unit: Billions of Yen) Increase/ Dec. 31, 2017 Mar. 31, 2018 decrease Total assets 1,024.7 1,017.9 -6.8 Interest-bearing debt 346.7 330.0 -16.8 Debt/Equity ratio 0.95 times 0.83 times -0.12p Stockholders’ Equity ratio 34.0% 37.5% 3.5p Showa D
Slide 9: 2018 Forecast
2018 Forecast (Unit: Billions of Yen except Cash dividends per Share and Net income per Share) Initial Revised forecast Forecast Increase/ First Second (Announced (Announced on decrease Half Half* on Feb., 14) May, 9) Net Sales 900.0 935.0 35.0 452.0 483.0 Operating Income 110.0 137.0 27.0 68.0 69.0
Slide 10: Consolidated Net Sales by Segment, 2018 Forecast
Consolidated Net Sales by Segment, 2018 Forecast (Unit: Billions of Yen) Initial Revised forecast Forecast Increase/ First Second (Announced on (Announced on decrease Half Half* Feb., 14) May, 9) Petrochemicals 235.0 243.0 8.0 111.0 132.0 Chemicals 154.0 155.0 1.0 75.0 80.0 Electronics 116.0 117.0 1
Slide 11: Consolidated Operating Income by Segment, 2018 Forecast
Consolidated Operating Income by Segment, 2018 Forecast (Unit: Billions of Yen) Initial Revised forecast Forecast Increase/ First Second (Announced on (Announced on decrease Half Half* Feb., 14) May, 9) Petrochemicals 19.0 20.0 1.0 5.0 15.0 Chemicals 17.0 18.0 1.0 8.0 10.0 Electronics 16.0 17.0 1.0
Slide 12: (Reference) Quarterly Operating Income
(Reference) Quarterly Operating Income 2018 (Unit: Billions of Yen) 2017 40.0 34.4 30.0 21.9 20.9 19.7 20.0 15.3 10.0 0.0 CQ1 CQ2 CQ3 CQ4 Showa Denko 1st Quarter, 2018 Consolidated Financial Results 12
Slide 13: (Reference) Quarterly Operating Income by Segment
(Reference) Quarterly Operating Income by Segment 《Petrochemicals》 《Chemicals》 (Unit: Billions of Yen) 2018 (Unit: Billions of Yen) 2018 6.0 2017 2017 12.0 5.2 10.6 5.0 10.0 4.4 9.3 4.0 3.8 7.9 3.6 8.0 3.1 5.6 3.0 6.0 2.0 4.0 3.3 2.0 1.0 0.0 0.0 CQ1 CQ2 CQ3 CQ4 CQ1 CQ2 CQ3 CQ4 Showa Denko 1st Quarte
Slide 14: (Reference) Quarterly Operating Income by Segment
(Reference) Quarterly Operating Income by Segment 《Electronics》 《Inorganics》 (Unit: Billions of Yen) (Unit: Billions of Yen) 29.0 2018 2018 2017 24.9 2017 24.0 8.0 6.1 6.3 19.0 6.0 14.0 4.0 3.5 2.9 9.0 4.7 4.0 2.3 0.2 0.0 CQ1 CQ2 CQ3 CQ4 -1.0 CQ1 CQ2 CQ3 CQ4 -0.1 Showa Denko 1st Quarter, 2018 Consol
Slide 15: (Reference) Quarterly Operating Income by Segment
(Reference) Quarterly Operating Income by Segment 《Aluminum》 《Others》 (Unit: Billions of Yen) 2018 (Unit: Billions of Yen) 2018 2017 1.5 2017 2.0 1.8 1.7 1.6 1.0 1.5 0.8 1.3 0.5 0.4 1.0 0.2 0.2 0.0 CQ1 CQ2 CQ3 CQ4 -0.1 0.0 CQ1 CQ2 CQ3 CQ4 -0.5 Showa Denko 1st Quarter, 2018 Consolidated Financial Res
Slide 16: Topics [General]
Topics [General] ● Offered treasury stock through International Offering On March 6, 2018, SDK’s Board of Directors resolved that the Company would offer 6 million shares of its treasury stock through an international offering, and the offer price of those shares was determined at ¥4,544 per share o
Slide 17: Topics [Chemicals segment]
Topics [Chemicals segment] ● Expanded high-purity hydrogen bromide plant SDK expanded its annual capacity to produce high-purity hydrogen bromide (HBr) from 600 tons to 900 tons, 1.5 times as much as the previous level. The expanded plant started to produce HBr in this March. HBr is a specialty gas
Slide 18: Topics [Electronics segment] [Aluminum segment]
Topics [Electronics segment] ● LIB material “VGCFTM” received a Grand Prize in “Low CO2 Kawasaki Brand ‘17” In February 2018, SDK’s VGCFTM, carbon-nanofiber additive to cathodes and anodes of lithium ion batteries (LIBs) to improve electrical conductivity, received a Grand Prize in the Product and T
Slide 19: Topics [Others segment]
Topics [Others segment] ● Expanded capacity for producing high-grade SiC epitaxial wafers for power devices In April 2018, SDK expanded its capacity for producing high-quality-grade silicon carbide (SiC) epitaxial wafers for power devices, which had already been marketed under the trade name of “Hig
Slide 20: Showa Denko 1st Quarter, 2018 Consolidated Financial Results
Showa Denko 1st Quarter, 2018 Consolidated Financial Results 20