Ulvac, Inc. · TSE:6728
Ulvac — H1 FY2024/6 Earnings Presentation
21 slides from Ulvac's earnings presentation, Feb 13, 2024
Slide 1: The First Half of FY2024/6 Business Results
ULVAC, Inc. The First Half of FY2024/6 Business Results (Jul. 2023 – Dec. 2023) Feb. 13, 2024 Copyright© 2024, ULVAC, Inc. All rights reserved 1
Slide 2: Disclaimer regarding forward-looking statements
Disclaimer regarding forward-looking statements Forward-looking statements of the company in this presentation are based on information that was available at the time these documents were prepared. There are several factors that directly or indirectly impact the company performance, such as the glob
Slide 3: Summary
Summary Orders Received and Net Sales both increased YoY due to increase in power devices and battery-related business. Semiconductors: Investment in memory and advanced logic continued to be restrained, but expected to recover from H2 FY2024/6. Electronics: Increased investment in SiC power dev
Slide 4: Business results for H1 of FY24/6
1 Business results for H1 of FY24/6 Orders Received and Net Sales both increased YoY due to the increase in power devices and battery- related business. Orders Received, Net Sales and Operating Profit (Margin) all exceeded the H1 plan Net Sales and Operating Profit vs. Plan (Unit: ¥1 billion) FY
Slide 5: Both gross profit margin and operating profit margin improved
2 Both gross profit margin and operating profit margin improved Both gross profit margin and operating profit margin improved in Q2 QoQ due to the increase in sales FY23/6 FY24/6 YoY (Unit: ¥1 billion) Q1 Q2 Q3 Q4 Q1 Q2 Amount % Orders Received 66.6 62.5 43.4 74.7 78.0 56.1 -6.4 -10% Net Sales 56.
Slide 6: Orders Received and net sales both increased YoY
3 Orders Received and net sales both increased YoY Orders Received increased YoY due to the increase in power devices and battery-related business Net Sales increased YoY due to the contributions from semiconductors and electronics such as power devices and high level order backlog. Orders Recei
Slide 7: Gross profit margin and operating profit margin both improved in Q2
4 Gross profit margin and operating profit margin both improved in Q2 Gross profit margin and operating profit margin in Q2 improved along with net sales increase Gross profit margin Operating profit margin S.G.&A. Expenses Net Sales Gross Profit Margin Net Sales Operating Profit Margin R&D Expens
Slide 8: Gross profit margin and operating profit margin both improved in H1
5 Gross profit margin and operating profit margin both improved in H1 Gross profit margin and operating profit margin improved with net sales Increase Gross profit margin Operating profit margin S.G.&A. Expenses 30.0 Net Sales Gross Profit Margin Net Sales Operating Profit Margin R&D Expenses (Uni
Slide 9: Steady growth in growth drivers due to increase in power devices and battery-related business
6 Steady growth in growth drivers due to increase in power devices and battery-related business Growth Driver Orders Received (Unit: ¥1 billion) Battery › First round of investment in Al double-sided evaporation film current collector for EVs battery cathode collectors is in full swing Battery Logic
Slide 10: Memory and advanced logic investment moves from adjustment phase to investment recovery phase
7 Memory and advanced logic investment moves from adjustment phase to investment recovery phase Memory and advanced logic investment moves from adjustment phase to investment recovery phase. Mid- to long-term trend of investment expansion remains unchanged, and growth is expected due to the reco
Slide 11: Power Devices: SiC investment active in Japan and China
8 Power Devices: SiC investment active in Japan and China Power Devices continues to expand investment in Japan and China Continued growth in power devices and various electronics devices in the next fiscal year and onward Orders Received (by Sector) Orders received (by Region) Orders received f
Slide 12: Business opportunities expand with increased SiC substrate size and structural changes
9 Business opportunities expand with increased SiC substrate size and structural changes SiC will be the center of power device investment in the future⇒ Increasing SiC substrate size (from 6 to 8 inch) and SiC structure change (from planar to trench) will expand business opportunities. vs. FY23/6
Slide 13: Increased investment in double-sided evaporation film for EVs batteries
10 Increased investment in double-sided evaporation film for EVs batteries First round of investment in double-sided evaporation evaporation film for Cathode Current Collector (CCC) is in full swing Aiming for medium-term growth with double-sided evaporation film for Anode Current Collector (ACC
Slide 14: Batteries: Advantages of our Roll-to-Roll equipment
11 Batteries: Advantages of our Roll-to-Roll equipment ULVAC’s Advantages 1 Technical capabilities and reliability cultivated through our evaporation roll-to-roll equipment for automotive film capacitors (over 90% share of single-sided film deposition) 2 Realization of high-speed, long-length film d
Slide 15: ULVAC's Battery Strategy
12 ULVAC's Battery Strategy vs. FY23/6 4.7x FY22/6 FY23/6 FY24/6 FY25/6 FY26/6 FY27/6 Double-sided evaporation film for Cathode Current Collector (CCC) Double-sided evaporation film for • AL thick film deposition technology Anode Current Collector (ACC) • Double-sided deposition PET • Wide film supp
Slide 16: Stable business basis also solid
13 Stable business basis also solid Components • Medium- to large-size pumps for lithium batteries for EVs, leak detectors, (H1: 1.1x YoY) and other products are steady • Helium leak testing equipment for automotive and air conditioning and refrigeration equipment are steady in China Helium leak tes
Slide 17: Topics
14 Topics Received "Excellent Production Support" award Integrated Reporting from TSMC in the 2023 EXCELLENT Published VALUE REPORT 2023 PERFORMANCE AWARD We received the "Excellent Production Support Award" in recognition The ULVAC VALUE REPORT summarizes our efforts to achieve of our significant c
Slide 18: Orders Received and Net Sales by Segment (Quarterly)
15 Orders Received and Net Sales by Segment (Quarterly) Orders Received (Unit: ¥1 billion) Net Sales (Unit: ¥1 billion) Semiconductors & Electronics Semiconductors & Electronics Device Production Equipment Component Materials Device Production Equipment Component Materials FPD Production Equipment I
Slide 19: Consolidated Balance Sheet
16 Consolidated Balance Sheet Assets (Unit: ¥1 billion) Liabilities and Net Assets (Unit: ¥1 billion) Cash and deposits Notes and accounts payable,trade Notes and accounts receivable,trade Interest-bearing debt Inventories Other current liabilities Other current assets Other non-current liabilities
Slide 20: Solving Social Issues
17 Supporting the realization of a smart and digital society and green energy through technological innovation Solving Social Issues Smart and Digital Society Green Energy Conversion Realization Low Power Consumption Sensor・ Power Device Memory Logic IC Electronic Devices Battery Miniaturization/ Hi
Slide 21: ULVAC Vacuum Technology Contributes to Many Industries and Applications
ULVAC Vacuum Technology Contributes to Many Industries and Applications Copyright© 2024, ULVAC, Inc. All rights reserved 21