Kureha Corporation · TSE:4023
Kureha — Q3 FY2016 Earnings Presentation
9 slides from Kureha's earnings presentation, March 2017
Slide 1: FY2016 3Q Highlights
1 FY2016 3Q Highlights (in 100 million yen) ‐ Net sales down on lower volumes FY2015 FY2016 mainly in Advanced Materials and Change 3Q 3Q Specialty Chemicals Net sales 1,038 934 ‐10.0% ‐ Operating income improved due to Operating income 63 93 47.5% the absence of restructuring cost accrued in prior‐
Slide 2: FY2016 3Q Highlights
2 FY2016 3Q Highlights (in 100 million yen) FY2015 3Q Advanced Specialty Specialty Con‐ Other Segment Group Adjustment Total Materials Chemicals Plastics struction Operations Total Net sales 268 222 329 102 116 1,038 1,038 Elimination 1 Other income 5 Other expenses Other expenses includes ¥3.2B res
Slide 3: Segment Performance: Advanced Materials
3 Segment Performance Advanced Materials (in 100 million yen) FY2015 FY2016 3Q 3Q Change • Advanced plastics declined on Sales lower PGA volumes in oil & gas Advanced plastics 167 138 ‐17% extraction market and stagnant Carbon products 41 32 ‐24% PPS sales, more than offsetting growth of PVDF for li
Slide 4: Segment Performance: Specialty Chemicals
4 Segment Performance Specialty Chemicals (in 100 million yen) FY2015 FY2016 3Q 3Q Change • Agrochemicals declined on Sales lower volumes in fungicides Agrochemicals 57 45 ‐21% • Pharmaceuticals negatively Pharmaceuticals 61 45 ‐26% affected by a decline in Industrial chemicals 72 63 ‐11% Kremezin (
Slide 5: Segment Performance: Specialty Plastics
5 Segment Performance Specialty Plastics FY2015 FY2016 (in 100 million yen) 3Q 3Q Change Sales • Continued steady growth of Home products 146 156 7% Home Products driven by home‐ Packaging materials 62 55 ‐10% use wrap film ‘NEW Krewrap’ Non‐consolidated sales total 207 212 2% • Packaging materials
Slide 6: Segment Performance: Construction and Other Operations
6 Segment Performance (in 100 million yen) FY2015 FY2016 3Q 3Q Change Construction Sales Construction 161 143 ‐11% • Construction declined due to fewer public construction Adjustment ‐59 ‐51 ‐‐ projects more than offsetting an Kureha Group sales 102 92 -9% increase in private sector Kureha Group ope
Slide 7: Balance Sheet
7 Balance Sheet (in 100 million yen) Assets Liabilities and Mar. 31 Dec. 31 Net Assets Mar. 31 Dec. 31 Change Change 2016 2016 2016 2016 Cash and cash equivalents 67 66 ‐1 Accounts and notes 198 201 3 Accounts and notes payable‐trade 309 291 ‐18 receivable‐trade Interest‐bearing debt 812 724 ‐88 Inv
Slide 8: FY2016 Full-Year Outlook
8 FY2016 Full-Year Outlook (in 100 million yen except per‐share values) FY2015 FY2016e Change • Sales likely to fall in all five Net sales 1,408 1,300 ‐108 (‐8%) segments, most sharply in Operating income 74 90 16 (22%) Specialty Chemicals • Operating income will improve Income before income tax 66
Slide 9: Key Indicators
9 Key Indicators FY2015 FY2015 FY2016 FY2016 Exchange rates 1Q‐3Q Full year 1Q‐3Q Full year* JP¥/US$ Term average ¥121.7 ¥120.2 ¥106.6 ¥107.5 Term end ¥120.6 ¥112.7 ¥116.5 ¥110.0 JP¥/EUR€ Term average ¥134.4 ¥132.6 ¥118.0 ¥118.5 *Assumption for the exchange Term end ¥131.8 ¥127.7 ¥122.7 ¥120.0 rates