Resonac Holdings Corporation · TSE:4004
Resonac — Q1 2024 Earnings Presentation
25 slides from Resonac's earnings presentation, May 15, 2024
Slide 1: Consolidated Financial Results First Quarter, 2024
Consolidated Financial Results First Quarter, 2024 Hideki Somemiya, CFO Director & Managing Corporate Officer May 15, 2024
Slide 2: Key Takeaways
Key Takeaways 1. 2024 1Q saw improvements both in sales and income compared to 2023 1Q. Recovery in demand continued gradually; fixed cost control and weaker yen contributed to the improvement from the initial forecast 2. 2024 full-year forecast does not include the revision of 2024 2nd half; revise
Slide 3: Table of Contents
Table of Contents 1. 2024 1Q Consolidated Financial Statements 2. 2024 Performance Forecast ©Resonac Holdings Corporation All Rights Reserved.
Slide 4: Summary (2023 1Q vs. 2024 1Q)
Summary (2023 1Q vs. 2024 1Q) (Unit: Billions of Yen except figures per share) 2023 2024 Increase/ Reference Based on ongoing businesses *1 (Unit: Billions of Yen) 1Q 1Q Decrease 2023 2024 Increase/ Net sales 298.9 321.4 22.5 1Q 1Q Decrease Net sales 295.9 321.4 25.5 Operating income (9.2) 8.9 18.2
Slide 5: Breakdown of Operating Income Changes
Breakdown of Operating Income Changes (2023 1Q vs. 2024 1Q) Semiconductor & (Unit: Billions of Yen) Electronic Materials +1.9 Semiconductor & Electronic Materials +2.4 Semiconductor & Electronic Materials +10.9 Chemicals (2.1) ©Resonac Holdings Corporation All Rights Reserved. 5
Slide 6: Breakdown of Segment Operating Income Changes
Breakdown of Segment Operating Income Changes (2023 1Q vs. 2024 1Q) 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 1Q vs. 2024 1Q) 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: Sales, Operating Income and EBITDA
Sales, Operating Income and EBITDA: Segment Breakdown (2023 1Q vs. 2024 1Q) (Unit: Billions of Yen) 2023 2024 Increase/ Segment 1Q* 1Q Decrease Sales 69.4 97.5 28.1 40% Semiconductor and Operating Income (10.4) 6.3 16.6 - Electronic Materials EBITDA 2.7 19.5 16.9 634% Sales 51.8 52.6 0.7 1% Mobility
Slide 9: Semiconductor and Electronic Materials Segment Summary
Segment Summary (2023 1Q vs. 2024 1Q) Semiconductor and Electronic Materials (Unit: Billions of Yen) 2023 2024 Increase/ Performance Overview 1Q 1Q Decrease Sales 69.4 97.5 28.1 40% Both sales and operating income increased as sales volume increased, thanks to the gradual Front-end Semiconductor rec
Slide 10: Mobility Segment Summary
Segment Summary (2023 1Q vs. 2024 1Q) Mobility (Unit: Billions of Yen) 2023 2024 Increase/ Performance Overview 1Q* 1Q Decrease Sales 51.8 52.6 0.7 1% Both sales and operating income increased due to the recovery of automobile production and the Automotive Products 44.7 45.8 1.1 3% launch of product
Slide 11: Innovation Enabling Materials Segment Summary
Segment Summary (2023 1Q vs. 2024 1Q) Innovation Enabling Materials (Unit: Billions of Yen) 2023 2024 Increase/ Performance Overview 1Q* 1Q Decrease Sales 20.7 22.3 1.6 8% Sales increased as sales price was raised to Operating Income 1.2 2.4 1.2 101% reflect the sharp increase of material costs and
Slide 12: Chemicals Segment Summary
Segment Summary (2023 1Q vs. 2024 1Q) Chemicals (Unit: Billions of Yen) 2023 2024 Increase/ Performance Overview 1Q 1Q Decrease Sales 127.1 116.8 (10.3) (8%) - Olefins & Derivatives: Both sales and operating income decreased despite higher naphtha price, Olefins & Derivatives 78.0 76.0 (2.0) (3%) as
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/ 1Q 1Q Decrease 1Q 1Q Decrease Gain on sale of noncurrent Interest/Dividends assets 0.0 19.7 19.7 (2
Slide 14: Consolidated Balance Sheet
Consolidated Balance Sheet Consolidated Balance Sheet (Unit: Billions of Yen) Dec. 31, Mar. 31, Increase/ Dec. 31, Mar. 31, Increase/ Assets Decrease Liabilities and net assets Decrease 2023 2024 2023 2024 Cash and deposits 190.3 213.2 22.9 Notes and accounts payable 177.4 175.1 (2.3) Notes and acco
Slide 15: Table of Contents
Table of Contents 1. 2024 1Q 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 except figures per share) 2024 2024 Increase/ Increase/ 2024 Apr.16 Forecast 2023 Decrease Decrease Results (A) Initial Apr. 16 1H 2H Forecast* (B) Forecast (C) (C) – (A) (C) – (B) Forecast Forecast Net sales 1,288.9 1,330.0 1,360.0 71.1 30.0 670.0 6
Slide 17: Segment Breakdown (Consolidated) 2024 Forecast
2024 Sales and Operating Income: Segment Breakdown (Consolidated) (Unit: Billions of Yen) 2024 Apr. 16 Forecast 2023* Segment 1Q 2Q 1H 2H Full-year Full-year Increase/ Results Forecast Forecast Forecast Forecast Results Decrease Semiconductor and Sales 97.5 102.5 200.0 210.0 410.0 338.1 71.9 Electro
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 1Q Full-ye
Slide 20: Capital Expenditures: Segment Breakdown
Reference Capital Expenditures: Segment Breakdown (Unit: Billions of Yen) 2023 2024 Increase/ Segment 1Q* 1Q Decrease Semiconductor and 10.9 12.8 1.9 Electronic Materials Mobility 2.7 2.3 (0.4) Innovation Enabling 0.9 0.8 (0.1) Materials Chemicals 3.8 4.4 0.6 Others 2.6 1.8 (0.9) Total 21.0 22.1 1.1
Slide 21: Depreciation: Segment Breakdown
Reference Depreciation: Segment Breakdown (Unit: Billions of Yen) 2023 2024 Increase/ Segment 1Q*1 1Q Decrease Depreciation (excl. PPA) 6.6 6.9 0.2 Semiconductor and PPA depreciation 3.1 3.1 - Electronic Materials Goodwill amortization 3.3 3.3 - Depreciation (excl. PPA) 4.1 4.0 (0.2) Mobility PPA de
Slide 22: Summary (2023 4Q vs. 2024 1Q)
Reference Summary (2023 4Q vs. 2024 1Q) (Unit: Billions of Yen) Increase/ 2023 4Q 2024 1Q Decrease Net sales 346.6 321.4 (25.2) Operating income 0.5 8.9 8.4 Non-operating income and (8.2) 2.1 10.2 expenses, net Ordinary income (7.6) 11.0 18.6 Extraordinary profit/loss (26.2) 18.7 44.9 Income before
Slide 23: Segment Breakdown (Consolidated) 2023
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 24: Topics
Reference Topics Segment Topics Resonac Increases Capacity to Produce Materials for AI Chips Semiconductor Resonac invests 15 billion yen in facilities to produce non-conductive film and thermal conductive sheet and Electronic Materials Resonac Participates Semiconductor Assembly Test Automation and
Slide 25: 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