Resonac Holdings Corporation · TSE:4004
Resonac — Q2 2022 Earnings Presentation
25 slides from Resonac's earnings presentation, Aug 4, 2022
Slide 1: Consolidated Financial Results Second Quarter, 2022
Consolidated Financial Results Second Quarter, 2022 (August 4, 2022) Hideki Somemiya, CFO Director & Managing Corporate Officer
Slide 2: Summary
Summary １．In the first half of 2022, the Showa Denko Group’s net sales decreased by 37.3 billion yen from the same period of the previous year due partly to the sluggish automobile production and the effect of the transfer of businesses implemented in 2021, despite positive impact of the yen’s depre
Slide 3: Summary (1H 2021 vs. 1H 2022)
Summary (1H (Jan.-Jun.), 2021 vs. 1H (Jan.-Jun.), 2022) (Unit: Billions of Yen) （Ref.) Based on ongoing businesses (Unit: Billions of Yen) 1H, 1H, Increase/ 1H, 1H, Increase/ 2021 2022 Decrease 2021* 2022 decrease Net sales 693.4 656.0 (37.3) Net sales 590.4 656.0 65.7 Operating income 47.6 37.1 (10
Slide 4: Operating Income Breakdown by Factor
Operating Income Breakdown by Factor (1H, 2021 vs. 1H, 2022) (Unit: Billions of Yen) Non-recurrence of gain from the devaluation of inventory caused by an application of the “lower of cost or market” accounting method in 2020, * Excluding the impact of deconsolidation of Shoko Co., Ltd. which was on
Slide 5: Summary of Consolidated Sales and Operating Income by Segment (1H, 2021 vs. 1H, 2022)
Summary of Consolidated Sales and Operating Income by Segment (1H, 2021 vs. 1H, 2022) (Unit: Billions of Yen) 1H, 1H, Increase/decrease 2021 2022 Semiconductor and Sales 196.2 220.4 24.1 12% Electronic Materials Operating Income 21.2 26.8 5.6 27% Sales 89.6 86.7 (2.9) (3%) Mobility Operating Income
Slide 6: Semiconductor and Electronic Materials
Sales and Operating Income by Segment (1H, 2021 vs. 1H, 2022) Semiconductor and Electronic Materials (Unit: Billions of Yen) 1H, 1H, Increase/ Performance Overview 2021 2022 decrease Although the segment was affected by the transfer of Sales 196.2 220.4 24.1 12% the Printed Wiring Board business in
Slide 7: Mobility
Sales and Operating Income by Segment (1H, 2021 vs. 1H, 2022) Mobility (Unit: Billions of Yen) 1H, 1H, Increase/ Performance Overview 2021 2022 Decrease Sales decreased due to sluggish production of cars Sales 89.6 86.7 (2.9) (3%) caused by short supply of semiconductors and the Shanghai lockdown du
Slide 8: Innovation Enabling Materials / Chemicals
Sales and Operating Income by Segment (1H, 2021 vs. 1H, 2022) Innovation Enabling Materials / Chemicals (Unit: Billions of Yen) 1H, 1H, Increase/ Performance Overview 2021 2022 decrease Due to a rise in product prices caused by soaring raw Sales 65.6 70.0 4.4 7% Innovation material prices, sales of
Slide 9: Non-operating income/expenses, Extraordinary profit/loss
Non-operating income/expenses, Extraordinary profit/loss Non-operating income/expenses (Unit: Billions of Yen) 1H, 1H, Increase/ Main factors 2021 2022 Decrease Interest/Dividends income and expenses (３.9) (3.3) 0.6 Interest expenses decreased Equity in earnings of affiliates 3.0 2.3 (0.7) Foreign e
Slide 10: 2022 Forecast (Consolidated)
2022 Forecast (Consolidated) (Unit: Billions of Yen except Cash dividends per Share and Net income per Share) （Ref.) Based on ongoing business*3 2022 Forecast (Unit: Billions of Yen) Increase/ 2021 2021 2022 Increase/ Earlier*1 Revised *2 decrease Full Year Full Year Forecast*2 decrease Net sales 1,
Slide 11: Sales, Operating Income and EBITDA by Segment, 2022 Forecast
Sales, Operating Income and EBITDA by Segment, 2022 Forecast (Consolidated) (Unit: Billions of Yen) 2022 Forecast Increase/ 2022 2021 Segment Earlier*2 Revised*3 decrease 1H Actual 2H Revised*3 Actual*4 Semiconductor Sales 430.0 470.0 40.0 220.4 249.6 391.8 and Electronic O.I.*1 53.0 60.0 7.0 26.8 3
Slide 12: Consolidated Balance Sheet
Consolidated Balance Sheet Consolidated Balance Sheet (Unit: Billions of Yen) Dec. 31, Jun. 30, Increase/ Dec. 31, Jun. 30, Increase/ Assets Liabilities and net assets 2021 2022 Decrease 2021 2022 Decrease Cash and deposits 236.2 222.9 (13.3) Notes and accounts payable 207.7 220.4 12.7 Notes and acc
Slide 13: (Interest-bearing debt + preferred stock) Balance trends
(Interest-bearing debt + preferred stock) Balance trends As a part of preparation for the integration of corporate statuses scheduled for the next year, the Company repurchased preferred stock for 275.0 billion yen earlier than we planned by utilizing subordinated loan. （Unit: Times) (Unit: Billions
Slide 14: Changes in segmentation for disclosure (from Jan. 2022)
(Reference) Changes in segmentation for disclosure (from Jan. 2022) ＜Relationship between new segments and major products＞ New Semiconductor and Innovation Enabling Old Mobility Chemicals Others Electronic Materials Materials Olefins, Petrochemicals - - - Organic Chemicals, - Polymer Functional chem
Slide 15: (Reference) Consolidated Companies, Selected Data
(Reference) Consolidated Companies, Selected Data Consolidated Companies Consolidated subsidiaries: 123 (-1 from Dec. 31, 2021) + 1: Showa Denko Materials' Ceramics business spin-off Preparation company (newly established) - 2: Liquidation of Showa Denko (Dalian) Co., Ltd. Absorption-type merger of
Slide 16: (Reference) Costs of the integration with Showa Denko Materials
(Reference) Costs of the integration with Showa Denko Materials Co., Ltd. (Unit: Billions of Yen) 2022 2022 2021 Increase/ Item 2H Revised Revised 1H Actual Full Year Decrease Forecast*2 Forecast*2 Post-merger integration (PMI) (2.2) (5.3) (7.2) (7.5) (0.3) expenses*1 (Operating expenses) Interest o
Slide 17: Cash Flows, Results and 2022 Forecast
(Reference) Cash Flows, Results and 2022 Forecast (Consolidated) (Unit: Billions of Yen) 1H 1H Increase/ 2022 Forecast Increase/ 2021 2021 2022 Decrease Earlier*1 Revised*2 Decrease Results CF from operating 55.3 21.9 (33.4) 140.0 120.0 (20.0) 115.3 activities CF from investing (10.4) (36.6) (26.2)
Slide 18: Selected Data, results and 2022 Forecast
(Reference) Selected Data, results and 2022 Forecast (Consolidated) (億円) 1H, 1H, Increase/ 2022 Forecast Increase/ 2021 2021 2022 Decrease Earlier*1 Revised*2 Decrease Results Capital investment 35.4 52.4 17.0 133.5 123.1 (10.3) 78.6 Depreciation and 49.5 45.5 (4.0) 92.9 92.7 (0.2) 97.7 amortization
Slide 19: Capital expenditures by Segment, results and 2022 Forecast
(Reference) Capital expenditures by Segment, results and 2022 Forecast (Unit: Billions of Yen) 1H, 1H, 2022 Forecast 2021 Increase/ Increase/ Segment 2021 2022 decrease Earlier*1 Revised*2 Decrease Results Semiconductor and 14.0 24.3 10.3 61.5 58.1 (3.4) 35.2 Electronic Materials Mobility 5.3 4.4 (0
Slide 20: Depreciation by Segment, results and 2022 Forecast
(Reference) Depreciation by Segment, results and 2022 Forecast (Unit: Billions of Yen) 1H, 1H, Increase/ 2022 Forecast Increase/ 2021 Segment 2021*1 2022 decrease Earlier*2 Revised*3 Decrease Results*1 Semiconductor Depreciation*4 18.7 19.6 0.9 38.8 38.5 (0.3) 38.3 and Electronic Amortization Materi
Slide 21: Summary (CQ1 2022 vs. CQ2 2022)
(Reference) Summary (CQ1 (Jan.-Mar.), 2022 vs. CQ2 (Apr.-Jun.), 2022) (Unit: Billions of Yen) Jan.-Mar. Apr.-Jun. Increase/ 2022 2022 Decrease Net sales 308.0 348.0 40.0 Operating income 15.4 21.7 6.4 Non-operating income and expenses, net 4.6 5.2 0.6 Ordinary income 19.9 26.9 7.0 Extraordinary prof
Slide 22: Sales and Operating Income by Segment, 2021
(Reference) Sales and Operating Income by Segment, 2021 (Based on new segmentation) (Unit: Billions of Yen) 2021 Segment Jan.-Mar. Apr.-Jun. Jul.-Sep. Oct.-Dec. Full Year Semiconductor and Sales 81.7 94.7 102.8 112.6 391.8 Electronic Materials Operating Income 7.7 12.0 12.0 15.2 46.9 Sales 46.3 43.2
Slide 23: Sales and Operating Income by Segment, 2022 (Consolidated)
(Reference) Sales and Operating Income by Segment, 2022 (Consolidated) (Unit: Billions of Yen) 2022 Segment Jan.-Mar. Apr.-Jun. 2H Forecast* Full Year Forecast* Semiconductor and Sales 107.3 113.0 249.6 470.0 Electronic Materials Operating Income 12.9 13.9 33.2 60.0 Sales 44.4 42.3 93.3 180.0 Mobili
Slide 24: Topics
Topics Segment Topics SDK and Microwave Chemical Start Joint Development of New Microwave-based Chemical General Recycling Technology to Directly Transform Used Plastic into Basic Chemical Feedstock Showa Denko Concludes MOU with SK Inc. to Give Consideration to a Plan to Cooperatively Produce High-
Slide 25: Note
Note Performance forecast and other statements pertaining to the future as contained in this presentation are based on the information available as of today and assumptions as of today regarding risk factors that could affect our future performance. Actual results may differ materially from the fore