Toyo Engineering Corporation · TSE:6330
Toyo Engineering — Q2 FY2008 Earnings Presentation
21 slides from Toyo Engineering's earnings presentation, Nov 12, 2008
Slide 1: Outline of Financial Results
Second quarter of fiscal year 2008 (September 30, 2008) OUTLINE OF FINANCIAL RESULTS November 12, 2008
Slide 2: Contents
©2008 Contents I Outline of income statement III New orders Performance summary 3 New orders 15 Income statement 4 Backlog of contracts 17 Net sales 5 IV Forecast 18 Gross profit 8 Operating income 9 Ordinary income 10 -Reference- Net income 11 Subsidiaries information 19 II Financial position Histo
Slide 3: Performance summary
©2008 Performance summary ¾ Increased in revenue and gain compared with same period last year. Interim revenue and gain marked record high. ¾ Interim target were almost achieved. < Billion yen > Forecast Achieve- 2007/9 2008/9 Difference Difference ment 2008/9 Net sales 166.6 179.3 +12.7 180.0 (0.7)
Slide 4: Income statement
©2008 Income statement < Billion yen > 2007/9 2008/9 Difference Forecast Difference Billions of Billions of Billions of 2008/9 % % yen yen yen Net sales 166.6 100.0 179.3 100.0 12.7 180.0 (0.7) Cost of sales 152.6 91.6 160.7 89.6 (8.1) Gross profit 13.9 8.4 18.5 10.4 4.6 16.5 2.0 ― Selling, general
Slide 5: Net sales
©2008 Net sales < Billion yen > Compared with forecast 327.4 330.0 Forecast 2008/9 2008/9 180.0 179.3 223.8 Difference (0.7) 166.6 179.3 Achievement 99.6% +12.7 +8% Segment Forecast 2008/9 Difference EPC 169.5 169.6 +0.1 IT 8.5 7.7 (0.8) Real estate 2.0 2.0 0.0 Total 180.0 179.3 (0.7) Forecast 2007/
Slide 6: Net sales
©2008 Net sales 2008/9 Net sales : 179.3 billion yen < Billion yen > Breakdown by region Others 2.3 1% Overseas 145.4 billion yen 81% Japan Southwest Asia, 33.9 Southeast Asia Central and South America Middle East and Africa 19% 30.4 64.2 36.7 17% 36% 20% Russia and Central Asia 8.2 5% China 3.6 2%
Slide 7: Net sales
©2008 Net sales Breakdown by region Breakdown by segment details 327.4 327.4 < Billion yen > 223.8 223.8 179.3 179.3 166.6 166.6 2007/3 2007/9 2008/3 2008/9 2007/3 2007/9 2008/3 2008/9 Japan 77.2 28.3 70.8 33.9 Chemical fertilizers 6.5 3.0 6.4 6.2 Southeast Asia 10.5 12.9 34.1 30.4 Petrochemicals 57
Slide 8: Gross profit
©2008 Gross profit < Billion yen > Gross profit rate 34.4 35.0 10.5% 10.6% 10.4% 9.9% 22.2 8.4% 18.5 +4.6 2007/3 2007/9 2008/3 2008/9 2009/3 13.9 +33% Forecast Compared with forecast Forecast 2008/9 2008/9 16.5 18.5 Forecast 2007/3 2007/9 2008/3 2008/9 2009/3 Difference +2.0 Achievement 112% 8
Slide 9: Operating income
©2008 Operating income Operating income rate < Billion yen > 4.5% 4.2% 3.8% 15.0 3.1% 2.5% 13.7 2007/3 2007/9 2008/3 2008/9 2009/3 6.8 6.8 Forecast Compared with forecast +2.7 4.1 +66% Forecast 2008/9 2008/9 7.0 6.8 Forecast Difference (0.2) 2007/3 2007/9 2008/3 2008/9 Achievement 97% 2009/3 EPC 4.6
Slide 10: Ordinary income
©2008 Ordinary income < Billion yen > Ordinary income rate 16.5 4.9% 16.0 4.4% 5.0% 3.2% 3.1% 7.9 7.2 2007/3 2007/9 2008/3 2008/9 2009/3 +2.8 Forecast 5.1 +55% Compared with forecast Forecast 2008/9 2008/9 7.5 7.9 Forecast 2007/3 2007/9 2008/3 2008/9 2009/3 Difference +0.4 Achievement 105% 10
Slide 11: Net income
©2008 Net income < Billion yen > Net income rate & Return on Equity (ROE) ROE 15.5% 8.5 12.8% 8.0 Net income rate 2.4% 2.5% 2.1% 2.6% 1.5% 5.2 3.8 2007/3 2007/9 2008/3 2008/9 2009/3 Forecast +1.3 2.5 +52% Compared with forecast Forecast 2008/9 2008/9 4.0 3.8 Forecast 2007/3 2007/9 2008/3 2008/9 2009
Slide 12: Balance sheet
©2008 Balance sheet < Billion yen > Assets 2008/3 2008/9 Difference Liabilities and net assets 2008/3 2008/9 Difference Current assets 226.2 188.0 (38.2) Current liabilities 191.7 152.4 (39.3) Cash and deposits 34.3 34.9 0.6 Short-term interest bearing debt 9.8 5.8 (4.0) Marketable securities 52.9 3
Slide 13: Interest bearing debt balance
©2008 Interest bearing debt balance Forecast < Billion yen > 39.1 33.5 * Forecast is 35.9 34.6 changed from Consolidated subsidiaries 12.8 30.1 30.0 initial plan. 15.1 15.8 15.0 14.8 (4.5) 15.0 (0.1) Non-consolidated 26.3 * Interest bearing 20.8 18.5 debt includes Lease 18.8 15.3 obligation since 15
Slide 14: Cash flows
©2008 Cash flows Cash flows 60.0 50.0 < Billion yen > 40.0 30.0 20.0 10.0 0.0 (10.0) (20.0) FY2006 FY2007 2007/4 - 9 2008/4 - 9 (2006/4 - 2007/3) (2007/4 - 2008/3) Operating activities 50.9 19.0 25.2 (2.8) Investing activities (5.4) (2.9) (5.2) (3.5) Financing activities 1.4 (7.5) (9.0) (5.8) Net in
Slide 15: New orders
©2008 New orders ¾ Reached 32% of initial forecast for FY2007 (270 billion yen). ¾ Forecast is changed from initial plan. ( 270 220 billion yen) New orders : 85.6 billion yen < Billion yen > Breakdown by contract price 354.9 Over 10 billion yen Chemical fertilizer, VENEZUELA Japan 68.1 Forecast Over
Slide 16: New orders
©2008 New orders Breakdown by region Breakdown by segment details 354.9 354.9 < Billion yen > 268.6 268.6 169.3 169.3 85.6 85.6 2007/3 2007/9 2008/3 2008/9 2007/3 2007/9 2008/3 2008/9 Japan 68.1 37.9 71.1 36.1 Chemical fertilizers 6.0 64.5 64.7 15.9 Southeast Asia 89.9 2.3 19.8 1.1 Southwest Asia, P
Slide 17: Backlog of contracts
©2008 Backlog of contracts Breakdown by region Breakdown by segment details 499.2 507.9 499.2 507.9 < Billion yen > 444.4 444.4 354.5 354.5 2007/3 2007/9 2008/3 2008/9 2007/3 2007/9 2008/3 2008/9 Japan 59.5 71.0 63.5 67.5 Chemical fertilizers 9.7 71.2 67.6 77.1 Southeast Asia 82.7 72.3 67.6 37.3 Pet
Slide 18: Forecast
©2008 Forecast < Billion yen > Forecast for FY2008 FY2007 2009/3 2008/3 Initial plan New plan Forecast for breakdowns by segment Net sales 327.4 320.0 330.0 Initial New Net sales Gross profit 34.4 34.0 35.0 plan plan EPC 298.5 311.6 Gross profit rate 10.5% 10.6% 10.6% IT 17.5 14.5 Operating income 1
Slide 19: Reference: Subsidiaries information
©2008 - Reference - Subsidiaries information Consolidated Subsidiaries / Equity method affiliates Business 2008/9 Capital Share fields Net sales Consolidated subsidiaries Billion yen % Billion yen Japan Toyo Business Engineering Corporation IT 0.7 51 6.9 Japan TEC Estate, Ltd. Real Estate 6.0 100 1.
Slide 20: Reference: Historical data
©2008 - Reference - Historical data 2007/3 2007/9 2008/3 2008/9 2009/3 Forecast Net sales Billion yen 223.8 166.6 327.4 179.3 330.0 Gross profit Billion yen 22.2 13.9 34.4 18.5 35.0 Gross profit margin % 9.9% 8.4% 10.5% 10.4% 10.6% Operating income Billion yen 6.8 4.1 13.7 6.8 15.0 Operating income
Slide 21: Contact
For further questions on this material, please contact ; URL http://www.toyo-eng.co.jp Kunihiko MIYAWAKI IR Manager Corporate Planning & Administration Unit 2-8-1 Akanehama, Narashino, Chiba, Japan 275-0024 TEL 81-47-454-1167 The forecasts given above are based on information available at the time o