Screen Holdings Co., Ltd · TSE:7735
Screen — Q2 2025 Earnings Presentation
33 slides from Screen's earnings presentation, Oct 31, 2024
Slide 1: Consolidated business results and forecasts FY2025/03 Q2
Consolidated business results and forecasts FY2025/03 second quarter ended September 30, 2024 SCREEN Holdings Co., Ltd. Toshio Hiroe Yoichi Kondo Representative Director, President & CEO Representative Director & CFO October 31, 2024 Cautionary statements: • The earnings forecasts, contained in thes
Slide 2: Summary of FY2025/03 1H earnings
Summary of FY2025/03 1H earnings Consolidated business results and forecasts FY2025/03 second quarter ended September 30, 2024 Innovation for a Sustainable World SCREEN Holdings Co., Ltd. Yoichi Kondo Representative Director & CFO 2024年５月９日 October 31, 2024 2024年５月９日 SCREEN Holdings Co., Ltd. FY2025
Slide 3: FY2025/03 1H summary of consolidated earnings
FY2025/03 1H summary of consolidated earnings Both sales and profits increased YoY. • Hitting the record highs for 1H in terms of both net sales and OP income/margin. • Revised the full-year earnings forecasts upward, driven by SPE, GA, and FT. • Revised the annual dividend forecasts upward, from
Slide 4: FY2025/03 1H consolidated earnings
FY2025/03 1H consolidated earnings QoQ (Billions of JPY) FY2024/03 FY2025/03 1Q 2Q 1H 3Q 4Q Full 1Q 2Q 1H Difference Net sales 99.6 123.5 223.2 124.5 157.0 504.9 134.2 143.1 277.3 54.1 24.2% OP income 13.4 25.1 38.5 25.1 30.4 94.1 27.7 30.4 58.2 51.1% 19.6 OP margin 13.5% 20.3% 17.3% 20.2% 19.4% 18.
Slide 5: Composition of group sales by destination
Composition of group sales by destination QoQ (Billions of JPY) 160 157.0 143.1 15% 140 134.2 123.5 124.5 14% Japan 9% 14% 120 16% Taiwan 23% 19% 17% 100 8% China 11% 46% 80 Korea 40% 48% 46% Asia—Other 60 38% 5% North America 40 3% 3% 5% 5% 3% 2% 4% 5% Europe 20 18% 3% 14% 13% 13% 11% Other 8% 6% 4
Slide 6: Composition of group sales by segment
Composition of group sales by segment QoQ (Billions of JPY) 157.0 160 0.4% 2.7% 143.1 6.8% 134.2 0.8% 140 2.1% 123.5 124.5 7.5% 0.4% 2.9% 6.5% Other 0.3% 0.5% 3.9% 3.1% 2.6% 9.0% 120 2.7% 5.4% 9.2% 10.0% 9.7% PE 100 FT 80 82.6% 60 81.6% GA 83.6% 83.9% 81.8% 40 SPE 20 0 2Q 3Q 4Q 1Q 2Q FY2024/03 FY202
Slide 7: FY2025/03 Q2 consolidated earnings by segment
FY2025/03 Q2 consolidated earnings by segment FY2024/03 FY2025/03 (Billions of JPY) 2Q 3Q 4Q 1Q 2Q Net sales 103.7 101.9 129.6 112.1 116.8 SPE OP income 25.1 25.5 32.5 29.0 29.9 OP margin 24.2% 25.1% 25.1% 25.9% 25.6% Net sales 12.3 12.0 11.7 12.3 12.8 GA OP income 1.2 1.3 0.7 0.8 1.2 OP margin 10.2
Slide 8: FY2025/03 1H consolidated earnings by segment—analysis
FY2025/03 1H consolidated earnings by segment—analysis FY2025/03 QoQ FY2024/03 FY2025/03 YoY Difference Difference Difference Difference (Billions of JPY) 1Q 2Q (Net sales) (OP) 1H 1H (Net sales) (OP) 3.1% 51.6% Net sales 112.1 116.8 4.7 4.2% 0.9 -0.3pt 186.0 229.0 43.0 23.1% 20.0 4.9pt SPE Both sal
Slide 9: Financial standing: Balance sheet
Financial standing: Balance sheet Assets (Billions of JPY) Liabilities & net assets (Billions of JPY) 691.4 676.8 691.4 668.1 676.8 668.1 635.6 632.0 635.6 632.0 114.6 75.7 51.6 Cash & 56.6 5.3 167.2 7.1 Notes & 225.1 119.3 161.8 deposits 108.8 7.1 28.3 accounts 181.5 28.5 payable Notes & 215.9 221.
Slide 10: Financial standing: Cash flows
Financial standing: Cash flows QoQ (Billions of JPY) YoY (Billions of JPY) Operating CF Investing CF Financing CF FCF 65.6 68.9 60 58.4 53.4 59.0 60 29.1 50.5 30 28.3 33.4 30 0 18.9 -0.7 -0.9 -4.9 -1.0 -8.2 -8.7 -7.9 -6.5 -13.6 -20.1 0 -30 -31.0 -32.1 -40.0 -14.5-14.7 -60 -51.2 -18.3-18.1 -30 FY2024
Slide 11: Analysis of operating income growth
Analysis of operating income growth FY2024/03 1H vs FY2025/03 1H (Billions of JPY) +3.5 +23.0 +1.0 Profitability Exchange rates Fixed costs Sales and capacity utilization Note: Impact on OP income is rounded to be shown in ¥0.5 bn increments. › Increase in sales and capacity utilization is attributa
Slide 12: Business environment and outlook
Business environment and outlook Consolidated business results and forecasts FY2025/03 second quarter ended September 30, 2024 Innovation for a Sustainable World SCREEN Holdings Co., Ltd. Toshio Hiroe Representative Director, President & CEO 2024年５月９日 October 31, 2024 2024年５月９日 SCREEN Holdings Co.,
Slide 13: Business environment and outlook
HD Business environment and outlook Business environment SPE AI-related semiconductor is expected to drive growth. Growth is expected in server, smartphone, and PC demands, while on a monetary basis growth is prominent especially for server, and related investments are active. Current DRAM prices ar
Slide 14: SPE: Business overview
SPE SPE: Business overview Market trends and outlook WFE: Mid-single-digit growth projected for CY2024. Stronger growth expected for CY2025. Foundry & Logic: Investment in leading-edge nodes accelerating, albeit with some reassessments. Memory: Driving the WFE growth this year. Expected to be the
Slide 15: SPE: Composition of equipment sales by application and post-sales
SPE: Composition of equipment sales by application and post-sales QoQ (Billions of JPY) 140 129.6 Foundry 120 112.1 116.8 103.7 101.9 Logic 100 43% 43% Flash 51% 80 45% DRAM 50% 4% 6% Imaging Device 60 12% 3% 0% 6% 3% 6% 15% 15% 3% Power Device 2% 12% 40 10% 3% 6% 5% 16% 1% 3% 1% 4% Other 9% 6% 7% 6
Slide 16: SPE: Composition of sales by destination
SPE SPE: Composition of sales by destination QoQ (Billions of JPY) 140 129.6 120 13% 116.8 112.1 Japan 103.7 101.9 8% 11% 11% 100 Taiwan 12% 21% 19% 22% 7% China 80 12% 49% Korea 60 55% 40% Asia—Other 51% 41% 40 North America 5% 4% 2% 4% 4% Europe 4% 20 3% 4% 4% 19% 4% 15% 12% 12% 9% Other 7% 5% 3%
Slide 17: SPE: Equipment sales by application and post-sales—forecast
SPE SPE: Composition of equipment sales by application and post-sales—forecast Half-year forecast (Billions of JPY) YoY (Billions of JPY) 244.0 473.0 231.6 229.0 Foundry 417.6 400 Logic 200 186.0 41% 44% 47% 47% Flash 47% DRAM 46% 8% 9% 5% 6% Imaging Device 9% 5% 4% 4% 200 100 3% 3% 6% 14% Power Dev
Slide 18: SPE: Composition of sales by destination—forecast
SPE SPE: Composition of sales by destination—forecast Half-year forecast (Billions of JPY) YoY (Billions of JPY) 473.0 244.0 231.6 229.0 417.6 13% 15% 16% 11% 400 Japan 14% 200 186.0 19% 10% 21% 17% Taiwan 11% 12% 14% China 45% 38% 42% Korea 43% 45% 200 100 41% Asia—Other 5% 4% 8% 5% 6% North Americ
Slide 19: GA: Sales trends and forecast
GA GA: Sales trends and forecast QoQ (Billions of JPY) Half-year forecast (Billions of JPY) YoY (Billions of JPY) 15 30 47.7 49.0 12.8 25.2 12.3 12.0 12.3 11.7 23.9 23.7 23.8 40 10 20 Equipment, Other 20 Recurring 5 10 business 56% 54% 55% 54% 51% 50% 48% 51% 48% 53% 50% 0 0 0 2Q 3Q 4Q 1Q 2Q 1H 2H 1
Slide 20: FT: Sales trends and forecast
FT FT: Sales trends and forecast QoQ (Billions of JPY) Half-year forecast (Billions of JPY) YoY (Billions of JPY) 23.0 40 37.5 20 10.7 17.4 10 9.3 30 15 14.5 Post-sales, Other 23.2 6.7 25% 50% 20 45% 5.2 40% 10 35% OLED 5 40% 3.3 5.7 10 45% LCD 55% 55% 5 40% 40% 30% 30% 30% 30% 15% 15% 20% 30% 15% 1
Slide 21: PE: Sales trends and forecast
PE PE: Sales trends and forecast QoQ (Billions of JPY) Half-year forecast (Billions of JPY) YoY (Billions of JPY) 5 10 20 4.1 3.8 3.9 7.6 4 8 7.4 7.2 14.6 14.5 6.9 3.2 3.0 Equipment, 3 6 Other 10 2 4 Post-sales 1 2 37% 48% 37% 38% 53% 40% 42% 45% 40% 41% 40% 0 0 0 2Q 3Q 4Q 1Q 2Q 1H 2H 1H 2H E Full F
Slide 22: FY2025/03 business forecasts (as of October 31, 2024)
FY2025/03 business forecasts (as of October 31, 2024) FY2024/03 FY2025/03 1H 2H Full Full (Billions of JPY) July Forecast October Forecast July Forecast October Forecast July Forecast October Forecast Net sales 504.9 280.5 277.3 284.0 299.7 564.5 577.0 OP income 94.1 53.0 58.2 52.0 55.3 105.0 113.5
Slide 23: R&D expenses, CAPEX and depreciation/amortization—trends and plan
R&D expenses, CAPEX and depreciation/amortization—trends and plan QoQ (Billions of JPY) YoY (Billions of JPY) R&D expenses Capital expenditures Depreciation/Amortization 39.8 40 21.5 33.0 20 30.0 30 27.0 20 10 13.0 7.4 7.3 7.1 7.6 6.7 6.5 10.8 5.8 4.8 10 2.6 2.8 3.0 3.0 3.4 3.1 0 0 FY2024/03 FY2025/
Slide 24: Analysis of operating income growth—forecast
Analysis of operating income growth—forecast FY2024/03 vs FY2025/03 E (Billions of JPY) +2.5 +36.5 Profitability Fixed costs Exchange Sales and rates capacity utilization Note: Impact on OP income is rounded to be shown in ¥0.5 bn increments. › Increase in sales and capacity utilization will be main
Slide 25: Annual dividend outlook
Annual dividend outlook FY2025/03 forecast FY2025/03 interim dividend will be ¥120 per share, up ¥11 from the July forecast. Total annual dividend is projected to be record high at ¥247 per share with an upwardly-revised year-end dividend of ¥127 per share. Note: Value Up Further 2026 targets a cons
Slide 26: ESG initiatives
ESG initiatives E (Environmental) Expanding Water Management Application to the entire Hikone Site Using water management visualization to accelerate efforts for environmental impact reduction S (Social) Efforts aimed at deepening the understanding of Corporate Philosophy Continued dialogue betw
Slide 27: Recent SCREEN Group News
Recent SCREEN Group News (extracted from the official website, July 27, 2024 – October 31, 2024) Details here (official website) Transfer of Shares of a Subsidiary (announced October 16, 2024) SPE Expanding Water Management Application to the Entire Hikone Site Using water management visualizati
Slide 28: Topics: Transfer of Shares of a Subsidiary
SPE Topics Details here (official website) Transfer of Shares of a Subsidiary (announced October 16, 2024) SCREEN Semiconductor Solutions Co., Ltd. (SCREEN SPE) has signed an agreement to transfer all shares of SCREEN SPE’s wholly owned subsidiary, Laser Systems & Solutions of Europe SASU (France),
Slide 29: Topics: Expanding Water Management Application to Hikone Site
SPE Topics Details here (official website) Expanding Water Management Application to the Entire Hikone Site Using water management visualization to accelerate environmental impact reduction (announced October 24, 2024) In October 2023, SCREEN SPE has introduced the water management application (WMA)
Slide 30: Topics: SCREEN Opens Inkjet Innovation Center
Details here (official website) GA Topics <JP only> SCREEN Opens Inkjet Innovation Center (IIC) at the Kumiyama Site in Kyoto (announced October 2, 2024) IIC Kyoto showcases a full range of SCREEN GA’s Truepress JET, Truepress LABEL, and Truepress PAC digital inkjet systems.* Along with its show
Slide 31: Appendix: Sales composition by product
SPE Appendix Appendix Sales composition by product (FY2025/03 1H) Coater/Developer, FLA, Other FY2025/03 FY2022/03 FY2023/03 FY2024/03 (%) 1H 5% 15% Single-wafer cleaner 70 65 70 80 Batch-type cleaner Batch-type cleaner 25 25 20 15 Coater/Developer, FLA, Other 5 10 10 5 Single-wafer cleaner Note: Ab
Slide 32: Appendix: KPI trends
HD Appendix KPI trends Appendix FY2025/03 FY2015/03 FY2016/03 FY2017/03 FY2018/03 FY2019/03 FY2020/03 FY2021/03 FY2022/03 FY2023/03 FY2024/03 (Billions of JPY) E Net sales 237.6 259.6 300.2 339.3 364.2 323.2 320.3 411.8 460.8 504.9 577.0 OP income 17.1 23.5 33.7 42.7 29.6 12.5 24.4 61.2 76.4 94.1 11
Slide 33: Appendix: Earnings trends by segment
HD Appendix Earnings trends by segment Appendix (%) 18.6 19.7 700.0 SPE GA FT PE OP Margin 14.9 16.6 20 11.2 12.6 15 600.0 9.1 8.1 7.6 577.0 7.2 3.9 504.9 10 500.0 460.8 5 411.8 400.0 364.2 0 339.3 323.2 320.3 300.2 -5 300.0 237.6 259.6 -10 200.0 -15 -20 100.0 -25 0.0 -30 FY2025/03 FY2015/03 FY2016/