Resonac Holdings Corporation · TSE:4004
Resonac — Q3 2024 Earnings Presentation
25 slides from Resonac's earnings presentation, Nov 12, 2024
Slide 1: Consolidated Financial Results Third Quarter, 2024
Consolidated Financial Results Third Quarter, 2024 Hideki Somemiya, CFO Director & Managing Corporate Officer November 12, 2024
Slide 2: Key Takeaways
Key Takeaways 1. 2024 1-3Q saw significant improvements both in sales and income compared to 2023 1-3Q, driven by the strong performance in the Semiconductor and Electronic Materials segment 2. 2024 full-year forecast revised upward, expects increased operating income compared to the previous announ
Slide 3: Table of Contents
Table of Contents 1. 2024 1-3Q Consolidated Financial Statements 2. 2024 Performance Forecast ©Resonac Holdings Corporation All Rights Reserved.
Slide 4: Summary (2023 1-3Q vs. 2024 1-3Q)
Summary (2023 1-3Q vs. 2024 1-3Q) (Unit: Billions of Yen) 2023 2024 Increase/ Reference Based on ongoing businesses *1 (Unit: Billions of Yen) 1-3Q 1-3Q Decrease 2023 2024 Increase/ Net sales 942.3 1,027.5 85.2 1-3Q 1-3Q Decrease Net sales 935.8 1,027.5 91.7 Operating income (4.3) 58.9 63.2 Operatin
Slide 5: Breakdown of Operating Income Changes
Breakdown of Operating Income Changes (2023 1-3Q vs. 2024 1-3Q) Semiconductor & Semiconductor & Electronic Materials +8.9 Electronic Materials +7.7 (Unit: Billions of Yen) Chemicals (10.8) Chemicals +9.7 Semiconductor & Electronic Materials +6.5 Semiconductor & Electronic Materials +34.7 ©Resonac Ho
Slide 6: Breakdown of Segment Operating Income Changes
Breakdown of Segment Operating Income Changes (2023 1-3Q vs. 2024 1-3Q) 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 Mo
Slide 7: Breakdown of Segment Operating Income Changes
Breakdown of Segment Operating Income Changes (2023 1-3Q vs. 2024 1-3Q) 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
Slide 8: Sales, Operating Income and EBITDA: Segment Breakdown
Sales, Operating Income and EBITDA: Segment Breakdown (2023 1-3Q vs. 2024 1-3Q) (Unit: Billions of Yen) 2023 2024 Increase/ Segment 1-3Q* 1-3Q Decrease Sales 241.7 328.5 86.8 36% Semiconductor and Operating Income (12.5) 45.3 57.8 - Electronic Materials EBITDA 27.5 86.0 58.5 213% Sales 159.4 160.7 1
Slide 9: Segment Summary: Semiconductor and Electronic Materials
Segment Summary (2023 1-3Q vs. 2024 1-3Q) Semiconductor and Electronic Materials (Unit: Billions of Yen) 2023 2024 Increase/ Performance Overview 1-3Q 1-3Q Decrease Sales 241.7 328.5 86.8 36% Both sales and operating income increased as sales volume increased, thanks to the gradual Front-end Semicon
Slide 10: Segment Summary: Mobility
Segment Summary (2023 1-3Q vs. 2024 1-3Q) Mobility (Unit: Billions of Yen) 2023 2024 Increase/ Performance Overview 1-3Q* 1-3Q Decrease Sales 159.4 160.7 1.4 1% Sales largely unchanged; operating income increased Automotive Products 137.8 132.1 (5.7) (4%) - Automotive Products: Despite the recovery
Slide 11: Segment Summary: Innovation Enabling Materials
Segment Summary (2023 1-3Q vs. 2024 1-3Q) Innovation Enabling Materials (Unit: Billions of Yen) 2023 2024 Increase/ Performance Overview 1-3Q* 1-3Q Decrease Sales 67.7 71.8 4.1 6% Operating Income 5.5 8.5 2.9 53% Both sales and operating income increased as sales price was raised to reflect the shar
Slide 12: Segment Summary: Chemicals
Segment Summary (2023 1-3Q vs. 2024 1-3Q) Chemicals (Unit: Billions of Yen) 2023 2024 Increase/ Performance Overview 1-3Q 1-3Q Decrease Sales 384.7 381.1 (3.7) (1%) - Olefins & Derivatives: Sales increased due to higher naphtha prices, but operating income Olefins & Derivatives decreased as sales vo
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/ 1-3Q 1-3Q Decrease 1-3Q 1-3Q Decrease Gain on sale of noncurrent Interest/Dividends assets 1.6 25.7
Slide 14: Consolidated Balance Sheet
Consolidated Balance Sheet Consolidated Balance Sheet (Unit: Billions of Yen) Dec. 31, Sep. 30, Increase/ Dec. 31, Sep. 30, Increase/ Assets Decrease Liabilities and net assets Decrease 2023 2024 2023 2024 Cash and deposits 190.3 243.0 52.6 Notes and accounts payable 177.4 169.8 (7.5) Notes and acco
Slide 15: Table of Contents
Table of Contents 1. 2024 1-3Q 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) Increase/ 2024 Increase/ 2023 2024 Decrease Decrease Earlier Results (A) Forecast (C)*1 (C) – (B) (C) – (A) Forecast (B)*2 Net sales 1,288.9 1,382.0 93.1 1,392.0 (10.0) Operating income (3.8) 77.5 81.3 61.0 16.5 Non-operating income and expenses, ne
Slide 17: 2024 Sales and Operating Income: Segment Breakdown (Consolidated)
2024 Sales and Operating Income: Segment Breakdown (Consolidated) (Unit: Billions 2024 Forecast*1 2023 Results*2 2024 Earlier Forecast*3 of Yen) Segment 1Q 2Q 3Q Full-year Full-year Increase/ Full-year Increase/ Results Results Results Forecast Results Decrease Forecast Decrease Sales 97.5 112.1 118
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 establishment of a new company for the partial spin-off of petrochemical business -1: Related to the liquidation of a foreign subsidiary -1: Related
Slide 20: Capital Expenditures: Segment Breakdown
Reference Capital Expenditures: Segment Breakdown (Unit: Billions of Yen) 2023 2024 Increase/ Segment 1-3Q* 1-3Q Decrease Semiconductor and 28.9 32.1 3.3 Electronic Materials Mobility 7.7 8.3 0.6 Innovation Enabling 3.0 3.7 0.7 Materials Chemicals 13.3 14.3 1.0 Others 9.4 8.8 (0.7) Total 62.3 67.2 4
Slide 21: Depreciation: Segment Breakdown
Reference Depreciation: Segment Breakdown (Unit: Billions of Yen) 2023 2024 Increase/ Segment 1-3Q*1 1-3Q Decrease Depreciation (excl. PPA) 20.7 21.5 0.8 Semiconductor and PPA depreciation 9.3 9.3 - Electronic Materials Goodwill amortization 9.9 9.9 (0.0) Depreciation (excl. PPA) 12.1 12.5 0.4 Mobil
Slide 22: Summary (2024 2Q vs. 2024 3Q)
Reference Summary (2024 2Q vs. 2024 3Q) (Unit: Billions of Yen) Increase/ 2024 2Q 2024 3Q Decrease Net sales 347.2 359.0 11.8 Operating income 19.0 30.9 11.9 Non-operating income and 0.4 (14.9) (15.3) expenses, net Ordinary income 19.5 16.0 (3.5) Extraordinary profit/loss (1.0) (0.5) 0.5 Income befo
Slide 23: Sales and Operating Income 2023: Segment Breakdown (Consolidated)
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 Establishes New SiC Wafer Facility in Yamagata, Holds Groundbreaking Semiconductor Ceremony and Electronic Resonac Develops Temporary Bonding Film and New Debonding Process for Materials Advanced Semiconductor Packages Achieving Cleanliness and High Productivi
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