Kureha Corporation · TSE:4023
Kureha — Q3 FY2019 Earnings Presentation
15 slides from Kureha's earnings presentation, Feb 6, 2020
Slide 1: FY2019 3Q Results
FY2019 3Q Results February 6, 2020
Slide 2: FY2019 3Q Overview
1 FY2019 3Q Overview (in billions of yen) Vs. FY2018 3Q FY2018 FY2019 Change • Lower revenue driven by Advanced 3Q 3Q (%) Materials, Specialty Chemicals and -5.4 Specialty Plastics Revenue 110.8 105.4 (-5%) • Lower core operating led driven by Advanced Materials, Specialty -0.8 Core operating profit
Slide 3: FY2019 3Q Overview: Performance by Segment
2 FY2019 3Q Overview Performance by Segment: FY2019 3Q vs. FY2018 3Q (in billions of yen) Revenue FY18 3Q (Vs. FY2018 3Q) Operating profit FY18 3Q FY19 3Q 5.9 FY19 3Q 5.7 34.3 35.3 34.0 31.4 3.6 20.4 3.3 17.3 2.7 12.9 13.2 9.5 2.0 7.8 1.5 1.4 0.6 0.3 Advanced Specialty Specialty Construction Other A
Slide 4: FY2019 3Q Overview
3 FY2019 3Q Overview FY2018 3Q FY2019 3Q (in billions of yen) AM SC SP CO OO Corporate AM SC SP CO OO Corporate Revenue 34.3 20.4 35.3 7.8 12.9 110.8 31.4 17.3 34.0 9.5 13.2 105.4 Segment operating profit 3.6 2.7 5.9 0.3 1.4 13.8 3.3 1.5 5.7 0.6 2.0 13.0 Adjustments 0.1 -0.0 Other income 0.3 *13.1 O
Slide 5: Segment Performance: Advanced Materials
4 Segment Performance: Advanced Materials (billions of yen) Vs. FY2018 3Q FY2018 FY2019 Change Revenue down, Operating profit down 3Q 3Q YOY% Advanced plastics: Advanced Materials Revenue decreased due to slower sales of Advanced plastics 21.2 20.4 -4% PPS and PGA stock shapes, partially Carbon prod
Slide 6: Segment Performance: Specialty Chemicals
5 Segment Performance: Specialty Chemicals (billions of yen) Vs. FY2018 3Q FY2018 FY2019 Change Revenue down, Operating profit down 3Q 3Q YOY% Agrochemicals: Specialty Chemicals Operating profit declined due to lower Agrochemicals 6.4 3.6 -44% fungicides volumes Pharmaceuticals 3.5 3.6 +5% Pharmaceu
Slide 7: Segment Performance: Specialty Plastics
6 Segment Performance: Specialty Plastics (billions of yen) Vs. FY2018 3Q FY2018 FY2019 Change Revenue down, Operating profit down 3Q 3Q YOY% Home products & fishing lines: Specialty Plastics Higher operating profit was supported by Home products 16.9 16.9 +0% sales volumes growth of both New Fishin
Slide 8: Segment Performance: Construction
7 Segment Performance: Construction (billions of yen) Vs. FY2018 3Q FY2018 FY2019 Change Revenue up, Operating profit up 3Q 3Q YOY% Construction: Construction Operating profit doubled as revenue Construction 13.0 15.3 +18% grew with a larger number of Consolidation construction projects in the priva
Slide 9: Segment Performance: Other Operations
8 Segment Performance: Other Operations (billions of yen) Vs. FY2018 3Q FY2018 FY2019 Change Revenue up, Operating profit up 3Q 3Q YOY% Environmental engineering Other Operations Operating profit improved due to higher Environmental 8.6 9.0 +5% engineering industrial waste treatment volume and the e
Slide 10: Financial Position
9 Financial Position (billions of yen) Assets Liabilities and Equity Mar.31 Dec.31 Mar.31 Dec.31 Change Change 2019 2019 2019 2019 Cash and cash equivalents 6.0 9.7 3.8 Trade and other payables 24.0 21.1 -2.9 Trade and other receivables 30.7 29.7 -1.1 Interest-bearing debt 39.0 44.3 5.2 Inventories
Slide 11: FY2019 Full-Year Forecast
10 FY2019 Full-Year Forecast *FY2019 earnings forecast has been unchanged since last announced on November 11, 2019 (In billions of yen, except per-share values) Vs. FY2018 FY2019 Change FY2019 • Revenue expected to decrease FY2018 Guidance YOY Guidance mainly in Advanced Materials and (Nov. 2019) (
Slide 12: FY2019 Full-Year Forecast
11 FY2019 Full-Year Forecast *FY2019 earnings forecast has been unchanged since last announced on November 11, 2019 Performance by Segment: FY2019 guidance vs. FY2018 (billions of yen) Revenue Core operating profit …FY2018 …FY2018 6.7 45.7 45.1 43.5 …FY2019e 6.4 …FY2019e 43.0 5.2 4.6 27.3 27.0 3.3 1
Slide 13: FY2019 Full-Year Forecast
12 FY2019 Full-Year Forecast *FY2019 earnings forecast has been unchanged since last announced on November 11, 2019 FY2018 FY2019 guidance (billions of yen) AM SC SP CO OO Corporate AM SC SP CO OO Corporate Revenue 45.7 27.3 45.1 12.4 17.6 148.3 43.0 27.0 43.5 13.0 17.5 144.0 Segment operating profi
Slide 14: Details of Other Income and Other Expenses
13 FY2019 Full-Year Forecast Details of Other Income and Other Expenses (billions of yen) FY2018 FY2019e Gain from land sales (Kureha Subsidy income 0.3 9.3 HQ annex location) Gain from bargain purchase Insurance income 0.1 1.5 related to new consolidation Gain on the transfer of Other 0.2 1.2 Kureh
Slide 15: Disclaimer
Disclaimer • These materials are supplied to provide a deeper understanding of our company, and are not intended to as a solicitation for investment or other actions. • These materials have been prepared by our company based on the information available at this point in time. However, actual perform