Panasonic Holdings Corporation · TSE:6752

Panasonic — FY2021 Earnings Presentation

34 slides from Panasonic's earnings presentation, Mar 31, 2021

Slide 1: Consolidated financial results for FY21 and forecast for FY22
 This presentation gives Panasonic’s consolidated financial results for fiscal 2021 (FY21) ended March 31, 2021, and its financial forecast for fiscal 2022 (FY22) ending March 31, 2022. Copyright (C) 2021 Panasonic Corporation All Rights Reserved.
Slide 2: Summary of FY21 results and FY22 forecast
 First, the summary of the consolidated financial results for FY21 and forecast for FY22.  The FY21 results exceeded the revised forecast presented at the 3Q results announcement.  Despite overall sales decreasing due to COVID-19 impact, along with deconsolidation impact in business portfolio ref
Slide 4: Consolidated financial results for FY21
 This shows the consolidated financial results for FY21.  Overall sales decreased to 6,698.8 billion yen due to COVID-19 impact, along with deconsolidation impact in business portfolio reform.  Adjusted operating profit increased due to enhancement of management structure and contributions from i
Slide 5: Sales analysis
 This slide shows our sales analysis.  Overall sales decreased by 791.8 billion yen (-11%).  Sales in real terms, excluding such impacts as deconsolidation, decreased by 390.2 billion yen (-5%) due to COVID-19 impact, mainly in Connected Solutions, while sales increased in such businesses as Home
Slide 6: Operating profit analysis
 This slide shows our operating profit analysis.  Regarding management structure enhancement set in the Mid-term strategy, we made profit contributions of: 60.0 billion yen with fixed-cost reduction and 30.0 billion yen with measures to businesses with loss-making structures.  In addition, the ef
Slide 7: Adjusted operating profit analysis by business
 This slide shows our adjusted operating profit analysis by business.  Profit increased by 98.4 billon yen for the full year with businesses that captured opportunities reflecting changes in society from a medium- to long- term perspective.  These increase factors contributed to increased profit
Slide 8: Quarterly trends in FY21 results
 Next, I will explain the trends in our results, quarter by quarter, during FY21.  The upper graph shows sales, in real terms, compared to FY20. The lower graph shows adjusted operating profit compared to FY20.  In 1Q, sales and profit decreased significantly, mainly in Automotive and Connected S
Slide 9: Results by segment
 This slide shows the results by segment.  Adjusted operating profit achieved profitability in all segments for the full year, after turning profitable in all segments in 3Q.  I will explain the details in the next slide. Copyright (C) 2021 Panasonic Corporation All Rights Reserved. 8
Slide 10: Major increase/decrease factors by segment
 This slide shows major increase/decrease factors by segment.  In Appliances, sales decreased overall, significantly affected by decreased sales of Smart Life Network, due to the impact of streamlined product lines, while stable sales continued for Home Appliances. Profit increased due to increase
Slide 11: FCF and cash positions
 Next, I will explain the situation of FCF and cash positions.  We generated over 600 billion yen FCF, mainly through transfer of business and sale of assets, in addition to operating CF.  The graph on the right describes our cash positions.  Gross cash and net cash largely improved through FCF
Slide 13: Consolidated financial forecast for FY22
 This slide shows the consolidated financial forecast for FY22.  Both sales and profit are expected to increase due to economic recovery in various countries and increased sales of businesses capturing opportunities reflecting changes in society, as well as continued initiatives in management stru
Slide 14: FY22 operating profit forecast analysis
 This slide shows our analysis of the FY22 operating profit forecast.  Adjusted operating profit is expected to increase by 82.8 billion yen.  Of which, 70.0 billion yen is expected from the effect of increased sales including Automotive Solutions and Systems/Devices.  We expect 20.0 billion yen
Slide 15: FY22 forecasts by segment
 Forecasts by segment are shown on this slide.  Sales of Appliances is expected to remain at the previous year’s level, while sales of all other segments are expected to increase.  Profit is expected to increase in all segments.  Profit is expected to continue to increase in Appliances, Automoti
Slide 16: FY22 forecast by segment details
 This slide shows our FY22 forecast by segment.  In Appliances, sales is expected to remain at the previous year’s level due to slow demand recovery in Japan related to Commercial Refrigeration and Food Equipment, while growth is expected in businesses such as air-conditioning. Profit is expected
Slide 17: Progress in the Mid-term strategy
 Now I will explain our progress in the Mid-term strategy.  During the current Mid-term strategy started in FY20, with the aim to overcome our low-profitability structure, we have made steady progress in promoting business portfolio reform, along with management structure enhancement.  As shown i
Slide 18: Management structure enhancement and portfolio reform
 In terms of management structure enhancement set in the Mid-term strategy, we made significant progress in fixed-cost reductions, achieving the Mid-term target of 100.0 billion yen in FY21, ahead of schedule. In addition, we will aim for further profit contributions of 20.0 billion yen in FY22. 
Slide 19: Mid-term capital allocation policy
 Next, I will explain our Mid-term capital allocation policy.  In the current Mid-term strategy, which started in FY20, we have carried out capital allocation activities based on our policy to allocate necessary cash with cash flow generated from business. However, to capture growth opportunities,
Slide 20: Initiatives toward medium- to long-term growth
 Finally, Panasonic’s initiatives toward growth from a medium- to long-term perspective.  Triggered by COVID-19, changes in society are accelerating in various business areas. The raison d’être for Panasonic is to offer solutions to social issues through its business activities under such circumst
Slide 21: IR activities schedule for FY22 and FY23
 This slide shows our planned schedule for IR activities in FY22 and FY23.  On May 27, we will host a CEO briefing.  In October 2021, our current “Company System” will transition to a virtual structure based on the new organization. Therefore, we plan to disclose financial results based on the ne

Panasonic Holdings — FY2021 Earnings Presentation on 6ix

Panasonic — FY2021 Earnings Presentation

Slide 1: Consolidated financial results for FY21 and forecast for FY22

Slide 2: Summary of FY21 results and FY22 forecast

Slide 3: Details of consolidated financial results for FY21

Slide 4: Consolidated financial results for FY21

Slide 5: Sales analysis

Slide 6: Operating profit analysis

Slide 7: Adjusted operating profit analysis by business

Slide 8: Quarterly trends in FY21 results

Slide 9: Results by segment

Slide 10: Major increase/decrease factors by segment

Slide 11: FCF and cash positions

Slide 12: Consolidated financial forecast for FY22

Slide 13: Consolidated financial forecast for FY22

Slide 14: FY22 operating profit forecast analysis

Slide 15: FY22 forecasts by segment

Slide 16: FY22 forecast by segment details

Slide 17: Progress in the Mid-term strategy

Slide 18: Management structure enhancement and portfolio reform

Slide 19: Mid-term capital allocation policy

Slide 20: Initiatives toward medium- to long-term growth

Slide 21: IR activities schedule for FY22 and FY23

Slide 22: Thank you very much for your kind attention

Slide 23: Copyright (C) 2021 Panasonic Corporation All Rights Reserved.

Slide 24: Copyright (C) 2021 Panasonic Corporation All Rights Reserved.

Slide 25: Copyright (C) 2021 Panasonic Corporation All Rights Reserved.

Slide 26: Copyright (C) 2021 Panasonic Corporation All Rights Reserved.

Slide 27: Copyright (C) 2021 Panasonic Corporation All Rights Reserved.

Slide 28: Copyright (C) 2021 Panasonic Corporation All Rights Reserved.

Slide 29: Copyright (C) 2021 Panasonic Corporation All Rights Reserved.

Slide 30: Copyright (C) 2021 Panasonic Corporation All Rights Reserved.

Slide 31: Copyright (C) 2021 Panasonic Corporation All Rights Reserved.

Slide 32: Copyright (C) 2021 Panasonic Corporation All Rights Reserved.

Slide 33: Copyright (C) 2021 Panasonic Corporation All Rights Reserved.

Slide 34: Copyright (C) 2021 Panasonic Corporation All Rights Reserved.