Itoham Yonekyu Holdings, Inc. · TSE:2296

Itoham Yonekyu — H1 FY2024 Earnings Presentation

43 slides from Itoham Yonekyu's earnings presentation, Nov 1, 2024

  1. Slide 1: FY2024 Financial Results for H1

    ITOHAM YONEKYU HOLDINGS INC. （Tokyo Prime：2296） FY2024 Financial Results for H1 (Apr 1, 2024 – Sep 30, 2024) November 01, 2024

  2. Slide 2: Half-year results summary and forecast for FY2024

    Half-year results Consolidated Summary for half-year  Sales increased by 4.4%. Ordinary profit decreased by -26.5%. Forecast for FY2024 Segment  Processed Foods Division : Increase in sales and ordinary profit. Price revisions offset high raw material prices and increases in logistics and manufact

  3. Slide 3: Agenda

    01 Earnings Results ・Consolidated Results/Forecast 4 ・Processed Food Division Results/Forecast 10 ・Meat Division Results/Forecast 16 02 Supplemental Data 22 03 Appendix 31 Note: The financial information disclosed by Japanese GAAP and FY2024 shows from Apr 1, 2024 to March 31, 2025. This material is

  4. Slide 4: Consolidated H1 results

    01 Earnings Results （Half-year） [Consolidated] FY2024 H1 result billion yen Previous % Year-on-Year forecast FY2024 half-year result Amount Rev 1-Aug Change of sales Change Change% Increase in sales and decrease in ordinary profit Sales 490.9 - +20.8 +4.4% 477.0 +13.9 • Operating Sales increased by

  5. Slide 5: Consolidated ordinary profit variance factors, half-year

    01 Earnings Results （Half-year） billion yen +0.5 -3.6 [Consolidated] +2.5 経常利益増減分析 Variance factors of +0.4 FY2024 half-year • 経営統合後のシナジー発現に -2.4 Ordinary Profit 伴い、稼ぐ力が着実に向上、 -1.3 当社の強みは • 安定した基礎収益力と認識 Processed Food Division: -2.2 -0.2 -0.1 Ordinary + 0.5 billion yen Profit 稼ぐ力を原資に成長投資を実行、 Ordinar

  6. Slide 6: Consolidated full-year earnings forecast

    01 Earnings Results （ Full-year earnings forecast ） [Consolidated] FY2024 full year financial earnings forecast billion yen Previous % Year-on-Year forecast Full-year earnings Amount Change of sales Change Change% Rev 1-Aug forecast Sales 985.0 - +29.4 +3.1% 970.0 +15.0 • The sales forecast has been

  7. Slide 7: Consolidated full-year ordinary profit variance factors

    01 Earnings Results （ Full-year earnings forecast ） billion yen +1.7 -3.4 [Consolidated] +9.3 経常利益増減分析 Variance factors of +0.5 Ordinary Profit • 経営統合後のシナジー発現に -8.0 -0.8 伴い、稼ぐ力が着実に向上、 -2.6 -0.1 • 当社の強みは Processed Food Division: -0.4 安定した基礎収益力と認識 +1.7 billion yen (Unchanged from the Ordinary Ordinary

  8. Slide 8: Progress of full-year operating forecast

    01 Earnings Results （ Full-year earnings forecast ） Consolidated The progress of Full- Reference : Progress of ordinary profit year operating forecast Q1（Apr.-Jun.） 0% 25% Q2（Jul.-Sep.） 50% 75% Full-year 100% f’cast H1 results progress rate (over-the-counter transition) • Profit performance at each

  9. Slide 9: Processed Food Division Results/Forecast

    01 Earnings Results ・Consolidated Results/Forecast 4 ・Processed Food Division Results/Forecast 10 ・Meat Division Results/Forecast 16 02 Supplemental Data 22 03 Appendix 31 Note: The financial information disclosed by Japanese GAAP and FY2024 shows from Apr 1, 2024 to March 31, 2025. This material is

  10. Slide 10: Processed Food Division H1 results

    01 Earnings Results （Half-year） [Processed Food Division] Segment Info FY2024 H1 financial earnings results billion yen % Year-on-Year Previous forecast Amount Change FY2024 half-year result of sales Change Change% (1Q)100％ 横12.73 縦3.22 Rev 1-Aug Processed Sales 197.4 (2Q~)90％横11.01、縦4.14 - +6.4 +3.

  11. Slide 11: Processed Food Division ordinary profit factors, half-year

    01 Earnings Results （Half-year） [Processed Food Division] Ordinary profit factors billion yen Q1 Q2 H1 Actual Actual Actual Variance factors of FY2023 Main Factors 1.6 1.9 3.5 FY2024 half-year Ordinary profit • Decrease in sales volume due to price revisions and Ordinary Profit Sales Volume -0.3 -0.

  12. Slide 12: Processed Food Division topics

    01 Earnings Results （Topics） [Processed Food Division] Consumer/Commercial Growth rate Growth rate by product ％ ％ volume amount amount Growth by categories Ham & Sausages Consumer Commercial -0.7 -3.7 +1.8 +0.6 THE GRAND Alt Bayern Pork Bits / Cheese In +0.7 +4.0 and products Total -1.9 +1.3 Sausage

  13. Slide 13: Processed Food Division full-year forecast

    01 Earnings Results （ Full-year earnings forecast ） [Processed Food Division] Segment Info FY2024 full year financial earnings forecast billion yen Previous % Year-on-Year forecast Amount Change Full-year earnings of sales Change Change% Rev 1-Aug (1Q)100％ 横12.73 縦3.22 forecast Processed Sales 405.0

  14. Slide 14: Processed Food Division full-year ordinary profit factors

    01 Earnings Results （ Full-year earnings forecast ） [Processed Food Division] Ordinary profit factors billion yen H1 H2 Year Actual Forecast Forecast Variance factors of FY2023 Main Factors 3.5 5.5 9.0 Ordinary Profit Ordinary profit • Decrease in sales volume will be expected due to Sales Volume -0

  15. Slide 15: Meat Division Results/Forecast

    01 Earnings Results ・Consolidated Results/Forecast 4 ・Processed Food Division Results/Forecast 10 ・Meat Division Results/Forecast 16 02 Supplemental Data 22 03 Appendix 31 Note: The financial information disclosed by Japanese GAAP and FY2024 shows from Apr 1, 2024 to March 31, 2025. This material is

  16. Slide 16: Meat Division H1 results

    01 Earnings Results （Half-year） [Meat Division] Segment Info FY2024 H1 financial earnings results billion yen % Year-on-Year Previous forecast Amount Change FY2024 half-year result of sales Change Change% (1Q)100％ 横12.73 縦3.22 Rev 1-Aug Meat Sales 293.5 (2Q~)90％横11.01、縦4.14 - +14.3 +5.1% 282.0 +11.5

  17. Slide 17: Meat Division ordinary profit factors, half-year

    01 Earnings Results （Half-year） [Meat Division] Ordinary profit factors billion yen Q1 Q2 H1 Actual Actual Actual Variance factors of FY2023 Main Factors 4.3 5.2 9.5 FY2024 half-year Ordinary profit Ordinary Profit Sales Volume -0.2 -0.2 -0.3 • Decrease in sales volume, mainly of High-priced domesti

  18. Slide 18: Meat Division topics

    01 Earnings Results （Topics） Domestic/Imported Growth rate ％ [Meat Division] our company (excluding ANZCO) volume amount Topics beef Domestic -3.2 +3.9 Imported -7.3 +4.3 pork -1.9 +2.8 • Due to rising retail prices, Domestic Imported +0.5 +3.0 domestic demand is shifting poultry +11.4 +4.7 Domestic

  19. Slide 19: Meat Division full-year forecast

    01 Earnings Results （ Full-year earnings forecast ） [Meat Division] Segment Info FY2024 full year financial earnings forecast billion yen Previous % Year-on-Year forecast Amount Change Full-year earnings of sales Change Change% Rev 1-Aug (1Q)100％ 横12.73 縦3.22 forecast Meat Sales (2Q~)90％横11.55、縦4.14

  20. Slide 20: Meat Division full-year ordinary profit factors

    01 Earnings Results （ Full-year earnings forecast ） [Meat Division] Ordinary profit factors billion yen H1 H2 Year Actual Forecast Forecast Variance factors of FY2023 Main Factors 9.5 8.6 18.1 Ordinary Profit Ordinary profit • Increase in sales volume for chicken will be expected Sales Volume -0.3 +

  21. Slide 21: Supplemental Data

    01 Earnings Results ・Consolidated Results/Forecast 4 ・Processed Food Division Results/Forecast 10 ・Meat Division Results/Forecast 16 02 Supplemental Data 22 03 Appendix 31 Note: The financial information disclosed by Japanese GAAP and FY2024 shows from Apr 1, 2024 to March 31, 2025. This material is

  22. Slide 22: Profit / Loss

    02 Supplemental Data Year Actual Sale of each country and region billion yen billion yen Profit / Loss FY2023 FY2024 FY2023 FY2024 H1 H1 Change H1 H1 Change Sales 470.1 490.9 +20.8 Sales 470.1 490.9 +20.8 COGS 405.2 425.2 +20.0 Japan 399.2 412.3 +13.1 Gross Profit 65.0 65.7 +0.8 Overseas Total 70.9

  23. Slide 23: S,G&A Expenses and Non-operational Gain/Loss

    02 Supplemental Data S,G & A Expenses Non-operational Gain/Loss billion yen billion yen S,G & A Expenses FY2023 FY2024 FY2023 FY2024 Non-operational G/L H1 H1 Change H1 H1 Change Non-Operational G/L 1.7 0.2 -1.5 Sales 470.1 490.9 +20.8 Non-controlling -0.1 0.5 +0.7 Selling, General and interests 54.

  24. Slide 24: Balance Sheet

    02 Supplemental Data billion yen FY2023 FY2024 FY2023 FY2024 Change Change Year end H1 Year end H1 Current Assets 272.0 287.2 +15.2 Total Liabilities 177.2 191.7 +14.5 Balance Sheet Cash and Term Deposits 23.2 20.8 -2.4 Current Liabilities 161.2 174.7 +13.5 Receivables 111.0 102.0 -9.0 Fixed Liablil

  25. Slide 25: Cash flow statement

    02 Supplemental Data billion yen FY2023 FY2024 Cash flow H1 H1 Change ①Cash Flow from Operation -4.9 -9.2 -4.3 statement Income Before Taxes 11.7 9.1 -2.6 Depreciation 5.9 6.4 +0.5 Change in Recievables -17.1 10.4 +27.5 Change in Inventories -18.2 -25.0 -6.8 Change in Payables 11.6 -2.1 -13.6 Others

  26. Slide 26: Itemized Sales

    決算補足データData 03 Supplemental 02 商品分類別実績 Itemized Sales billion yen Consolidated Processed Food Div. Meat Div. FY2023 FY2024 FY2023 FY2024 FY2023 FY2024 H1 H1 change H1 H1 change H1 H1 change Sales 470.1 490.9 +20.8 191.0 197.4 +6.4 279.1 293.5 +14.3 Ham & Sausage 90.5 91.9 +1.5 84.8 86.3 +1.5 5.7 5.7

  27. Slide 27: Quarterly earnings results trends by segment

    02 決算補足データ 03 Supplemental Data billion yen Q1 Q2 Apr - Jun Jul - Sep FY2024 FY2023 FY2024 FY2023 Quarterly earnings results results Change results results Change trends by segment Sales 235.8 227.6 +8.2 255.1 242.6 +12.6 Operating profit 3.9 5.3 -1.4 4.9 5.3 -0.4 Consolidated Operating profit margi

  28. Slide 28: Full-year earnings forecast details

    02 決算補足データ 03 Supplemental Data billion yen H1 H2 Year Full-year earning FY2024 results FY2023 results Change Last F'cast Chage FY2024 F'cast FY2023 results Change Last F'cast Chage FY2024 F'cast FY2023 results Change Last F'cast Chage forecast details Sales Rev 1-Nov 490.9 470.1 +20.8 Rev 1-Aug 477

  29. Slide 29: Profit change analysis trends

    02 決算補足データ 03 Supplemental Data billion yen Processed Food Div. Q1 Q2 H1 H2 Year results results Rev 2-May. Rev 1-Aug. results Rev 2-May. Rev 1-Aug. F'cast Rev 2-May. Rev 1-Aug. F'cast Profit change FY2023 Ordinary profit Sales Volume 1.6 -0.3 1.9 -0.1 3.5 -0.3 3.5 -0.4 3.5 -0.4 5.5 -0.1 5.5 -0.3 -0

  30. Slide 30: Appendix

    01 Earnings Results ・Consolidated Results/Forecast 4 ・Processed Food Division Results/Forecast 10 ・Meat Division Results/Forecast 16 02 Supplemental Data 22 03 Appendix 31 Note: The financial information disclosed by Japanese GAAP and FY2024 shows from Apr 1, 2024 to March 31, 2025. This material is

  31. Slide 31: Overseas Markets

    03 Appendix Pork Carcass - Spain Picnic - USA Overseas Markets Pork Bellies - USA Loin - USA Copyright © 2024 ITOHAM YONEKYU HOLDINGS INC. All rights reserved. 31

  32. Slide 32: CPI

    03 Appendix Beef Chicken CPI Pork Processed Meat Copyright © 2024 ITOHAM YONEKYU HOLDINGS INC. All rights reserved. Date：Ministry of Internal Affairs and Communications 32

  33. Slide 33: Ham & Sausage Supply

    03 Appendix Domestic Production Imports Ham & Sausage Supply Apr.-Aug. 【Domestic】 YoY -3.6% FY2023 222,929 ton FY2024 214,932 ton 【Import】 YoY +1.3% FY2023 13,925 ton FY2024 14,110 ton (ton) Apr. May Jun. Jul. Aug. Sep. Oct. Nov. Dec. Jan. Feb. Mar. Year 【Total】 YoY -3.3% Domestic FY2023 Volume 45,6

  34. Slide 34: Ham/Sausage domestic market share

    Date：QPR™ 03 Appendix ham/sausage domestic market ham/sausage domestic market Our share Value per 100 monitors year-on-year Average price year-on-year Ham/Sausage domestic market share 【 Share 】 Apr.-Sep. Last year 20.9％ This year 22.1％ YoY +1.2％ Apr. May Jun. Jul. Aug. Sep. Oct. Nov. Dec. Jan. Feb.

  35. Slide 35: Wiener domestic market share

    Date：QPR™ 03 Appendix Wiener domestic market Wiener domestic market Our share Value per 100 monitors year-on-year Average price year-on-year Wiener domestic market share 【 Share 】 Apr.-Sep. Last year 19.9％ This year 20.6％ YoY +0.7％ Apr. May Jun. Jul. Aug. Sep. Oct. Nov. Dec. Jan. Feb. Mar. Year 【sha

  36. Slide 36: Slice pack of ham, bacon, etc. domestic market

    Date：QPR™ 03 Appendix Slice pack of ham, bacon, etc. domestic market Slice pack of ham, bacon, etc. domestic market Our share Value per 100 monitors year-on-year Average price year-on-year Slice pack of ham, bacon, etc. domestic market share 【 Share 】 Apr.-Sep. Last year 20.3％ This year 22.2％ YoY +1

  37. Slide 37: Pizza/Snacks domestic market share

    Date：QPR™ 03 Appendix Pizza/Snacks domestic market Pizza/Snacks domestic market Our share Value per 100 monitors year-on-year Average price year-on-year Pizza/Snacks domestic market share 【 Share 】 Apr.-Sep. Last year 30.9％ This year 33.5％ YoY +2.6％ Apr. May Jun. Jul. Aug. Sep. Oct. Nov. Dec. Jan. F

  38. Slide 38: Hamburger steak/Meatball domestic market

    Date：QPR™ 03 Appendix Hamburger steak/Meatball domestic market Hamburger steak/Meatball domestic market Our share Value per 100 monitors year-on-year Average price year-on-year Hamburger steak/ Meatball domestic market share 【 Share 】 Apr.-Sep. Last year 12.1％ This year 13.3％ YoY +1.2％ Apr. May Jun.

  39. Slide 39: Processed chicken food domestic market

    Date：QPR™ 03 Appendix Processed chicken food domestic market Processed chicken food domestic market Our share Value per 100 monitors year-on-year Average price year-on-year Processed chicken food domestic market share 【 Share 】 Apr.-Sep Last year 22.3％ This year 21.8％ YoY -0.5％ Apr. May Jun. Jul. Au

  40. Slide 40: Marketed Volume/Ending Stock/Market Price (Beef)

    03 Appendix Estimated Marketed Volume Estimated Marketed Volume Estimated Ending Stock (Imported) (Domestic) (Imported) ※including meat for processed products ※including meat for processed products ※including meat for processed products Marketed Volume/ Ending Stock/ Market Price (Beef) Domestic Bee

  41. Slide 41: Marketed Volume/Ending Stock/Market Price (Pork)

    03 Appendix Estimated Marketed Volume Estimated Marketed Volume Estimated Ending Stock (Imported) (Domestic) (Imported) ※including meat for processed products ※including meat for processed products ※including meat for processed products Marketed Volume/ Ending Stock/ Market Price (Pork) Domestic Por

  42. Slide 42: Marketed Volume/Ending Stock/Market Price (Chicken)

    03 Appendix Estimated Marketed Volume Estimated Marketed Volume Estimated Ending Stock (Imported) (Domestic) (Imported) ※including meat for processed products ※including meat for processed products ※including meat for processed products ※bone-in meat base Marketed Volume/ Ending Stock/ Market Price

  43. Slide 43: Contact Information

    Contact Information ALT ITO Bldg. 1-6-21, MITA, MEGURO-KU, TOKYO , 153-8587, JAPAN ITOHAM YONEKYU HOLDINGS INC. Public & Investor Relations Office TEL : +81-3-5723-6889 You can also contact us from the company website. https://www.itoham-yonekyu-holdings.com The current plans, forecasts, strategies

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