Fujifilm Holdings Corp · TSE:4901
Fujifilm — Q1 FY2024 Earnings Presentation
36 slides from Fujifilm's earnings presentation, Aug 7, 2024
Slide 1: Earnings Presentation: Financial Results for Q1 FY2024
Earnings Presentation Financial Results for Q1 FY2024 August 7, 2024 Forward-looking statements, such as those relating to earnings forecasts and other projections contained in this material, are manage ment’s current assumptions and beliefs based on currently available information. Such forward-loo
Slide 2: Agenda
Agenda Consolidated Financial Rsults for Q1 FY2024 (April to June 2024) Earnings Highlights and Key Topics 1 Teiichi Goto, President and CEO, Representative Director, FUJIFILM Holdings Corporation Financial Results and Business Summary by Operating Segment 2 Masayuki Higuchi, CFO, Director and Corpo
Slide 3: Q1 FY2024 Earnings Highlights and Key Topics
Earnings Highlights Q1 FY2024 FY2024 Forecast Appendices Q1 FY2024 Earnings Highlights and Key Topics 01 FUJIFILM Holdings Corporation 3
Slide 4: Earnings Highlights for Q1 FY2024
Earnings Highlights Highlights Key Topics Q1 FY2024 FY2024 Forecast Appendices Earnings Highlights for Q1 FY2024 Consolidated Performance for Q1 FY2024 (Exchange rates: ¥156/US$; ¥168/Euro) Revenue Operating income Net income attributable to FUJIFILM Holdings Record high Record high Record high ¥749
Slide 5: Key Topics for Q1 FY2024: Electronics
Earnings Highlights Highlights Key Topics Q1 FY2024 FY2024 Forecast Appendices Key Topics for Q1 FY2024 Electronics Maximize profits from existing businesses by integrating three businesses and their respective Divisional Laboratories*, and strengthen and accelerate the creation of new materials bus
Slide 6: Key Topics for Q1 FY2024: Medical Systems
Earnings Highlights Highlights Key Topics Q1 FY2024 FY2024 Forecast Appendices Key Topics for Q1 FY2024 Medical Systems Further improve the diagnosis efficiency and the medical care quality and contribute to maintain and improve people's health by leveraging our proprietary technologies and providin
Slide 7: Key Topics for Q1 FY2024: Business Innovation
Earnings Highlights Highlights Key Topics Q1 FY2024 FY2024 Forecast Appendices Key Topics for Q1 FY2024 Business Innovation Recognizing the importance of environmental conservation since founding, we have been working to reduce the environmental impact of corporate activities and have been pursuing
Slide 8: Q1 FY2024 Financial Results and Business Summary by Operating Segment
Earnings Highlights Q1 FY2024 FY2024 Forecast Appendices Q1 FY2024 Financial Results and Business Summary by Operating Segment 02 FUJIFILM Holdings Corporation 8
Slide 9: Financial Results for Q1 FY2024 (April to June 2024)
Earnings Highlights Q1 FY2024 Company-wide By Segment BS CF FY2024 Forecast Appendices Financial Results for Q1 FY2024 (April to June 2024) (Billions of yen) Q1 Impact of Constant- FY2023 FY2024 Change exchange rate currency basis 660.8 Record high 749.0 88.2 51.3 36.9 Revenue 100.0% 100.0% +13.4% +
Slide 10: Consolidated Revenue and Operating Income by Operating Segment
Earnings Highlights Q1 FY2024 Company-wide By Segment BS CF FY2024 Forecast Appendices Q1 FY2024 (April to June 2024) Consolidated Revenue and Operating Income by Operating Segment (Billions of yen) Q1 Revenue Change FY2023 FY2024 Constant-currency basis Healthcare 206.8 229.2 22.4 +10.8% 4.5 +2.2%
Slide 11: Business Summary: Healthcare
Earnings Highlights Q1 FY2024 Company-wide By Segment BS CF FY2024 Forecast Appendices Q1 FY2024 (April to June 2024) Business Summary: Healthcare 00 YoY Change 500 increased in the Medical Systems and Bio CDMO. Operating income decreased due to Revenue Revenue Operating income structural reforms co
Slide 12: Business Summary: Electronics
Earnings Highlights Q1 FY2024 Company-wide By Segment BS CF FY2024 Forecast Appendices Q1 FY2024 (April to June 2024) Business Summary: Electronics YoY Change Revenue increased due to recovery in the semiconductor materials market and sales contribution from Revenue Operating income the acquired 500
Slide 13: Business Summary: Business Innovation
Earnings Highlights Q1 FY2024 Company-wide By Segment BS CF FY2024 Forecast Appendices Q1 FY2024 (April to June 2024) Business Summary: Business Innovation YoY Change Revenue rose mainly due to increased sales of digital transformation (DX) solutions and inkjet printheads. Revenue Operating income O
Slide 14: Business Summary: Imaging
Earnings Highlights Q1 FY2024 Company-wide By Segment BS CF FY2024 Forecast Appendices Q1 FY2024 (April to June 2024) Business Summary: Imaging YoY Change Revenue Operating income Revenue and operating income soared due to solid sales of instant photo systems and digital cameras. ↑+24.2％ ↑+38.9％ 130
Slide 15: Consolidated Balance Sheets
Earnings Highlights Q1 FY2024 Company-wide By Segment BS CF FY2024 Forecast Appendices Q1 FY2024 (April to June 2024) Consolidated Balance Sheets (Billions of yen) Change from Change from Mar. 2023 Mar. 2024 Jun. 2024 Mar. 2023 Mar. 2024 Jun. 2024 Mar. 2024 Mar. 2024 Cash and cash equivalents 268.6
Slide 16: Consolidated Cash Flow
Earnings Highlights Q1 FY2024 Company-wide By Segment BS CF FY2024 Forecast Appendices Q1 FY2024 (April to June 2024) Consolidated Cash Flow Cash in Cash out (Billions of yen) Adjusted free cash flow excluding business acquisitions FY2022 FY2023 FY2024 1Q 1Q 1Q (Billions of yen) 97.5 Net income 41.4
Slide 17: Financial Forecast for FY2024
Earnings Highlights Q1 FY2024 FY2024 Forecast Appendices Financial Forecast for FY2024 03 FUJIFILM Holdings Corporation 17
Slide 18: Full-year Forecast for FY2024
Earnings Highlights Q1 FY2024 FY2024 Forecast Appendices Full-year Forecast for FY2024 (Billions of yen) FY2024 FY2024 FY2023 Change from Change from Previous forecast Revised forecast Actual FY2023 previous forecast (as of May. 9, 2024) (as of Aug. 7, 2024) Revenue 2,960.9 3,100.0 Record high 3,150
Slide 19: Financial Forecast by Operating Segment
Earnings Highlights Q1 FY2024 FY2024 Forecast Appendices Financial Forecast by Operating Segment (Billions of yen) FY2024 FY2024 Change from previous FY2023 Revenue Previous forecast Revised forecast Constant-currency basis Actual forecast (as of May. 9, 2024) (as of Aug. 7, 2024) Healthcare 975.1 1
Slide 20: Appendices: Financial Results for Q1 FY2024
Earnings Highlights Q1 FY2024 FY2024 Forecast Appendices Appendices: Financial Results for Q1 FY2024 04 FUJIFILM Holdings Corporation 20
Slide 21: Q1 Earnings: Healthcare
Earnings Highlights Q1 FY2024 FY2024 Forecast Appendices Q1 Earnings: Healthcare (Billions of yen) Q1 Revenue FY2023 FY2024 Change Constant-currency basis Medical Systems 140.1 157.7 17.6 +12.6% 6.4 +4.6% Bio CDMO 40.9 47.1 6.2 +15.2% 0.9 +2.4% LS Solutions 25.8 24.4 (1.4) (5.7%) (2.8) (11.3%) Total
Slide 22: Q1 Earnings: Electronics
Earnings Highlights Q1 FY2024 FY2024 Forecast Appendices Q1 Earnings: Electronics (Billions of yen) Q1 Revenue FY2023 FY2024 Change Constant-currency basis Electronic Materials 40.5 62.3 21.8 +53.6% 15.4 +37.9% AF Materials 38.6 46.8 8.2 +21.4% 6.8 +17.9% Total 79.1 109.1 30.0 +37.9% 22.2 +28.2% Q1
Slide 23: Q1 Earnings: Business Innovation
Earnings Highlights Q1 FY2024 FY2024 Forecast Appendices Q1 Earnings: Business Innovation (Billions of yen) Q1 Revenue FY2023 FY2024 Change Constant-currency basis Business Solutions 68.4 70.8 2.4 +3.5% 0.0 0.1% Office Solutions 125.8 126.8 1.0 +0.7% (4.4) (3.6%) Graphic Communications 75.5 82.4 6.9
Slide 24: Q1 Earnings: Business Imaging
Earnings Highlights Q1 FY2024 FY2024 Forecast Appendices Q1 Earnings: Business Imaging (Billions of yen) Q1 Revenue FY2023 FY2024 Change Constant-currency basis Consumer Imaging 63.2 74.6 11.4 +17.8% 4.2 +6.4% Professional Imaging 42.0 56.1 14.1 +33.8% 9.8 +23.5% Total 105.2 130.7 25.5 +24.2% 14.0 +
Slide 25: Operating Income Analysis (Q1 FY2024 vs Q1 FY2023)
Earnings Highlights Q1 FY2024 FY2024 Forecast Appendices Operating Income Analysis (Q1 FY2024 vs Q1 FY2023) (Billions of yen) Q1 FY2023 FY2024 Change Raw material One-time Operation FX Actual Actual price cost and others Healthcare 10.3 3.4 (6.9) (67.1%) 3.6 (1.4) (6.4) (2.7) Electronics 9.8 20.1 10
Slide 26: Full-year Forecast for FY2024: Revenue by business
Earnings Highlights Q1 FY2024 FY2024 Forecast Appendices Full-year Forecast for FY2024 Revenue by business (Billions of yen) FY2023 FY2024 FY2024 Change from Change from Actual Previous forecast Revised forecast previous year previous forecast (as of May 9, 2024) (as of Aug 7, 2024) Healthcare 975.1
Slide 27: Operating Income Analysis (Full-year forecast vs previous forecast)
Earnings Highlights Q1 FY2024 FY2024 Forecast Appendices Operating Income Analysis (Full-year forecast vs previous forecast) (Billions of yen) FY2024 Full year Previous forecast Revised forecast Change Raw material One-time Operation FX (as of May 9, 2024) (as of Aug 7, 2024) price cost and others H
Slide 28: Bio CDMO Profitability
Earnings Highlights Q1 FY2024 FY2024 Forecast Appendices Bio CDMO Profitability (Q1 FY2023 vs Q1 FY2024 and full-year forecast vs previous forecast ) Profitability excluding one-time costs is expected to be flat YoY in 1Q, and to improve and return to profitability for the full year due to the effec
Slide 29: Consolidated Revenue by Geographical Area
Earnings Highlights Q1 FY2024 FY2024 Forecast Appendices Consolidated Revenue by Geographical Area (Billions of yen) FY2023 Q1 FY2024 Q1 Change Ratio (%) Ratio (%) Japan 36.2% 239.1 31.9% 239.1 0.0 +0.0% The Americas 22.2% 146.5 20.8% 155.5 9.0 +6.1% Europe 13.6% 89.9 17.9% 133.8 43.9 +48.7% China 1
Slide 30: Capital Expenditure and Depreciation & Amortization
Earnings Highlights Q1 FY2024 FY2024 Forecast Appendices Capital Expenditure and Depreciation & Amortization Capital Expenditure and Depreciation & Amortization (Billions of yen) 600.0 (Billions of yen) Q1 Full Year 510.0 FY2024 FY2023 FY2024 FY2023 Forecast Healthcare 76.3 101.2 347.3 395.0 422.1 E
Slide 31: R&D Expenses and SG&A Expenses
Earnings Highlights Q1 FY2024 FY2024 Forecast Appendices R&D Expenses and SG&A Expenses R&D Expenses｜ SG&A Expenses (Billions of yen) Ratio to revenue 900.0 40.0% (Billions of yen) 752.5 Q1 Full Year 710.7 30.0% FY2024 FY2023 FY2024 FY2023 Forecast 600.0 25.5% Healthcare 13.3 14.8 55.7 24.8% Electro
Slide 32: Market Trend and Number of Employees
Earnings Highlights Q1 FY2024 FY2024 Forecast Appendices Market Trend and Number of Employees ▐ Exchange rates (average) / Raw material prices (average) FY2023 FY2024 Unit 1Q 2Q 3Q 4Q Full Year 1Q 2-4Q Full Year US$ ￥/US$ 138 145 148 149 145 156 145 148 € ￥/€ 150 157 159 161 157 168 160 162 Silver 1
Slide 33: References
Earnings Highlights Q3 FY2023 FY2023 Appendices References ▍ FUJIFILM Holdings - Investor Relations https://ir.fujifilm.com/en/investors.html ▍ FUJIFILM Holdings Integrated Report 2023 https://ir.fujifilm.com/en/investors/ir-materials/integrated-report.html ▍ IR Materials https://ir.fujifilm.com/en/
Slide 34: FUJIFILM: Value from Innovation
FUJIFILM Value from Innovation
Slide 35: FUJIFILM Holdings Corporation
FUJIFILM Holdings Corporation
Slide 36: Upcoming earnings presentation schedule
August 9, 2024 Earnings presentation for Q1 FY2024 September 24, 2024 Business Innovation business briefing (5:00 p.m. JST) November 7, 2024 (plan) Earnings presentation for Q2 FY2024 Japan time Scheduled time of financial results disclosure: 2:00 p.m. (Currently 3:00 p.m.) [Purpose] • Prompt disclo