Kajima Corporation · TSE:1812
Kajima — FY2019 Earnings Presentation
30 slides from Kajima's earnings presentation, May 14, 2020
Slide 1: FY2019 Financial Results
FY2019 Financial Results May 14, 2020 Our fiscal 2019 Financial Results are as follows. 2
Slide 2: FY2019 Results; FY2020 Financial Forecast
Ⅰ FY2019 Results 01 Ⅱ FY2020 Financial Forecast 15 Copyright Ⓒ 2020 KAJIMA CORPORATION All Rights Reserved. 3
Slide 3: FY2019 Results
Ⅰ FY2019 Results (April 1, 2019 ‐ March 31, 2020) 1. Business Environment 2. Financial Highlights 3. Segment Performance 4. Financial Positions 5. Investment Plan Copyright Ⓒ 2020 KAJIMA CORPORATION All Rights Reserved. 4
Slide 4: 1. Business Environment
Ⅰ FY2019 Results 1. Business Environment Domestic market trends Stable demand in civil engineering, mainly expressway and renewable energy sectors Redevelopment projects mainly in Tokyo metropolitan area and capital investment in the manufacturing industry supported demand in building constructi
Slide 5: 2. Financial Highlights
Ⅰ FY2019 Results 2. Financial Highlights Over ¥100.0 billion in net income for the fourth year in a row FY18 FY19 FY19 Billions of yen YoY Change Result Result Forecast *1 Revenues 1,974.2 2,010.7 36.4 2,000.0 Operating Income 142.6 131.9 (10.6) 121.0 Ordinary Income 162.9 146.6 (16.2) 130.0 Net Inc
Slide 6: 2. Revenues
Ⅰ FY2019 Results 2. Revenues FY18 FY19 Change Billions of yen YoY Change Result Result from Forecast Revenues 1,974.2 2,010.7 ＋36.4 ＋10.7 YoY Change Factors Building Construction +29.4 (Kajima Corp) Civil Engineering (12.9) (Kajima Corp) Overseas Subsidiaries and +13.0 Affiliates Copyright Ⓒ 2
Slide 7: 2. Operating Income
Ⅰ FY2019 Results 2. Operating Income FY18 FY19 Change Billions of yen YoY Change Result Result from Forecast Operating 142.6 131.9 (10.6) ＋10.9 Income YoY Change Factors Gross Profit (9.8) (Construction) Increase in (7.5) SG&A Copyright Ⓒ 2020 KAJIMA CORPORATION All Rights Reserved. 5 Operatin
Slide 8: 2. Ordinary Income
Ⅰ FY2019 Results 2. Ordinary Income FY18 FY19 Change Billions of yen YoY Change Result Result from Forecast Ordinary 162.9 146.6 (16.2) ＋16.6 Income YoY Change Factors Operating (10.6) Income Non‐operating Income – net (5.6) Equity in Earnings of (1.8) Partnership Equity in Earnings of Unconsoli
Slide 9: 2. Net Income Attributable to Owners of the Parent
Ⅰ FY2019 Results 2. Net Income Attributable to Owners of the Parent FY18 FY19 Change Billions of yen YoY Change Result Result from Forecast Net Income 109.8 103.2 (6.5) ＋8.2 * Net Income Attributable to Owners of the Parent YoY Change Factors Ordinary (16.2) Income Extraordinary Income ‐ net +8.
Slide 10: 3. Civil Engineering (Kajima Corp)
Ⅰ FY2019 Results 3. Civil Engineering (Kajima Corp) Contracts Increase due to contract awards for several large‐scale projects Revenues Equivalent level to FY18 Gross Profit Lower than forecast due to decline in progress of some projects ■ Contracts Awards ■Revenues ■ Gross Profit Copyright Ⓒ
Slide 11: 3. Building Construction (Kajima Corp)
Ⅰ FY2019 Results 3. Building Construction (Kajima Corp) Contracts Decline due to delays in final contracts for secured projects and highly probable projects Revenues Steady progress in large‐scale backlog projects Gross Profit Improvement in margin due to acquisition of change orders and effec
Slide 12: 3. Real Estate and Other (Kajima Corp)
Ⅰ FY2019 Results 3. Real Estate and Other (Kajima Corp) Contracts Relatively in high level Disposition of several properties in addition to acquiring a specific large‐scale income‐ Revenues producing property and increasing rents Gross Profit Improvement in margin in addition to increased reve
Slide 13: 3. Domestic Subsidiaries and Affiliates
Ⅰ FY2019 Results 3. Domestic Subsidiaries and Affiliates Contracts Equivalent level to FY18 Revenues Equivalent level to FY18 Increase in operating income, mainly due to higher gross profit in construction business Net Income Improvement in extraordinary income (net) caused by ¥2.9 billion r
Slide 14: 3. Overseas Subsidiaries and Affiliates
Ⅰ FY2019 Results 3. Overseas Subsidiaries and Affiliates Contracts Equivalent level to FY18 Revenues Increase mainly due to increase in the U.S.(KUSA) Decline due to decrease in gross profit in construction business Net Income Higher than forecast due to favorable disposition of off‐balance
Slide 15: 4. Financial Positions
Ⅰ FY2019 Results 4. Financial Positions Steady progress in increase of owners’ equity toward ¥800 billion target FY18 FY19 FY19 Billions of yen YoY Change Result Result Forecast *1 Total Assets 2,091.1 2,172.1 80.9 ― Interest‐bearing 298.7 326.8 28.1 330.0 Debt Owners' Equity 753.2 791.7 38.5 ― Owne
Slide 16: 5. Investment Plan
Ⅰ FY2019 Results 5. Investment Plan Medium-Term Business Plan: Investment of ¥500 billion over 3 years • Proactive investment in the real estate business in Japan and overseas as well as R&D from a medium- to long-term perspective (¥ billion) FY18 FY19 3‐year Plan Result Result (FY18‐FY20) ■Domest
Slide 17: FY2020 Forecast
Ⅱ FY2020 Forecast (April 1, 2020 ‐ March 31, 2021) 1. Business Performance Outlook 2. Financial Highlights 3. Segment Performance 4. Shareholder Returns Copyright Ⓒ 2020 KAJIMA CORPORATION All Rights Reserved. Next is the financial forecast for the fiscal 2020. 18
Slide 18: 1. Business Environment: Impact of COVID-19 and Business Performance Outlook
Ⅱ FY2020 Financial Forecast 1. Business Environment Impact of COVID‐19 and Business Performance Outlook Uncertainty has increased, and the Company monitors the impact on order acquisitions In the construction business (Kajima Corp.), a decline in revenue and associated fall in profit is expected
Slide 19: 2. Financial Highlights
Ⅱ FY2020 Financial Forecast 2. Financial Highlights Net income projection equal to target in Medium‐Term Business Plan FY19 FY20 Billions of yen YoY Change Result Forecast Revenues 2,010.7 1,870.0 (140.7) Operating Income 131.9 111.0 (20.9) Ordinary Income 146.6 118.0 (28.6) Net Income *1 103.2 80.0
Slide 20: 2. Revenues
Ⅱ FY2020 Financial Forecast 2. Revenues FY19 FY20 Billions of yen YoY Change Result Forecast Revenues 2,010.7 1,870.0 (140.7) YoY Change Factors Building Construction (137.5) (Kajima Corp) Domestic Subsidiaries and (42.8) Affiliates Overseas Subsidiaries and +20.6 Affiliates Copyright Ⓒ 2020 K
Slide 21: 2. Operating Income
Ⅱ FY2020 Financial Forecast 2. Operating Income FY19 FY20 Billions of yen YoY Change Result Forecast Operating 131.9 111.0 (20.9) Income YoY Change Factors Gross Profit (22.5) (Construction) Gross Profit (Real Estate and +2.4 other) Increase in (0.8) SG&A Copyright Ⓒ 2020 KAJIMA CORPORATION Al
Slide 22: 2. Ordinary Income
Ⅱ FY2020 Financial Forecast 2. Ordinary Income FY19 FY20 Billions of yen YoY Change Result Forecast Ordinary 146.6 118.0 (28.6) Income YoY Change Factors Operating (20.9) Income Non‐operating Income – net (7.6) Financing (3.0) Equity in Earnings of (2.7) Partnership Copyright Ⓒ 2020 KAJIMA CORPO
Slide 23: 2. Net Income Attributable to Owners of the Parent
Ⅱ FY2020 Financial Forecast 2. Net Income Attributable to Owners of the Parent FY19 FY20 Billions of yen YoY Change Result Forecast Net Income 103.2 80.0 (23.2) * Net Income Attributable to Owners of the Parent YoY Change Factors Ordinary (28.6) Income Extraordinary Income ‐ net (2.9) Decrease
Slide 24: 3. Civil Engineering (Kajima Corp)
Ⅱ FY2020 Financial Forecast 3. Civil Engineering (Kajima Corp) Contracts Expect to maintain over ¥300 billion level Revenues Equivalent level to FY19 Expect gross profit margin to recover to 15% level due to improvement of productivity Gross Profit and cost reductions ■Contract Awards ■Revenue
Slide 25: 3. Building Construction (Kajima Corp)
Ⅱ FY2020 Financial Forecast 3. Building Construction (Kajima Corp) Contracts Expect increase based on secured projects and highly probable projects , but will monitor impact of COVID‐19 Revenues Expect decline due to impact of COVID‐19 in addition to the fact that the Company has relatively fewe
Slide 26: 3. Real Estate and Other (Kajima Corp)
Ⅱ FY2020 Financial Forecast 3. Real Estate and Other (Kajima Corp) Contracts Expect decrease from high level of FY2019 Revenues Expect increase due to sale of projects for which contracts have been concluded Gross Profit Expect increase due to growth in project sales ■ Contract Awards ■Revenue
Slide 27: 3. Domestic Subsidiaries and Affiliates
Ⅱ FY2020 Financial Forecast 3. Domestic Subsidiaries and Affiliates Contracts Expect slight decrease due to impact of COVID‐19 Expect decrease due to decline in contracts and lower occupancy rates of facilities Revenues operated Expect decrease in construction business and decrease in faciliti
Slide 28: 3. Overseas Subsidiaries and Affiliates
Ⅱ FY2020 Financial Forecast 3. Overseas Subsidiaries and Affiliates Contracts Expect decrease, given postponement of construction projects due to impact of COVID‐19 Although there will be impact of COVID‐19, expect increase due to ample construction Revenues backlog projects in progress and sale
Slide 29: 4. Shareholder Returns
Ⅱ FY2020 Financial Forecast 4. Shareholder Returns Maintain ¥50 per share annual dividend FY18 FY19 FY19 FY20 Billions of yen Result *1 Result Forecast *2 Forecast Dividend per Share 50.00 50.00 50.00 50.00 Earnings per Share 211.67 200.99 184.94 156.07 (EPS) Payout Ratio 23.6% 24.9% 27.0% 32.0% *1
Slide 30: Inquiries: Corporate Communication Group, Corporate Planning Department
Inquiries: Corporate Communication Group, Corporate Planning Department E‐Mail ： ir@ml.kajima.com Disclaimer: All financial information has been prepared in accordance with generally accepted accounting principles in Japan. While every attempt has been made to ensure the accuracy of information, for