Kureha Corporation · TSE:4023
Kureha — Q1 FY2017 Earnings Presentation
11 slides from Kureha's earnings presentation, March 2018
Slide 1: FY2017 1Q Highlights
1 FY2017 1Q Highlights (billions of yen) FY2017 1Q vs. FY2016 1Q FY2016 1Q FY2017 1Q Revenue: ¥4.15b (14.7%) up - Increased revenues from Advanced Materials Revenue 28.3 32.4 and Specialty Plastics segments Operating profit 0.9 2.2 Operating profit: ¥1.32b (145.4%) up - Improvements in Advanced Mate
Slide 2: FY2017 1Q Highlights
2 FY2017 1Q Highlights (billions of yen) FY2016 1Q Advanced Specialty Specialty Con- Other Segment Adjustment Total Materials Chemicals Plastics struction Operations Total Revenue 7.4 4.9 10.1 2.3 3.6 28.3 ------ 28.3 Elimination 0.0 ------ Other income 0.1 ------ Other expenses 0.0 ------ Operating
Slide 3: Advanced Materials Segment
3 Advanced Materials Segment (billions of yen) FY2016 FY2017 Change 1Q 1Q YOY Advanced plastics Advanced Materials • Operating loss narrowed on Revenue (Kureha Co.) improved revenues from PVDF (LiB binder applications), PPS and PGA Advanced plastics 4.6 5.8 27% (shale oil/gas extraction Carbon produ
Slide 4: Specialty Chemicals Segment
4 Specialty Chemicals Segment (billions of yen) FY2016 FY2017 Change 1Q 1Q YOY Agrochemicals • Improved revenue and profit on Specialty Chemicals higher fungicides volumes Revenue (Kureha Co.) Agrochemicals 0.2 0.9 273% Pharmaceuticals • Decreased revenue and profit due to Pharmaceuticals 1.7 0.9 -4
Slide 5: Specialty Plastics Segment
5 Specialty Plastics Segment (billions of yen) FY2016 FY2017 Change 1Q 1Q YOY Home products Specialty Plastics • Increased revenue and profit on Revenue (Kureha Co.) steady volume growth for plastic wrap (NEW Krewrap) and Home products 4.8 5.3 9% fluorocarbon fishing lines (Seaguar) Packaging materi
Slide 6: Construction & Other Operations Segments
6 Construction & Other Operations Segments (billions of yen) FY2016 FY2017 Change 1Q 1Q YOY Construction Construction Revenue (subsidiaries) • Decreased profit due to slow Construction 4.4 4.7 8% engineering business, despite growth of construction business in private and Elimination -2.1 -1.7 -- pu
Slide 7: Balance Sheet
7 Balance Sheet (billions of yen) Assets Liabilities and Equity Mar. 31 Jun. 30 Mar. 31 Jun. 30 Change Change 2017 2017 2017 2017 Cash and cash equivalents 6.2 6.2 -0.0 Trade and other payables 20.4 18.6 -1.8 Trade and other receivables 29.4 25.2 -4.1 Interest-bearing debt 71.0 67.8 -3.2 Inventories
Slide 8: Key Indicators
8 Key Indicators FY2016 FY2016 FY2017 FY2017e 1Q Full-year 1Q Full-year (billions of yen) Capital expenditure 2.8 10.3 1.7 14.0 Depreciation 2.5 10.2 2.4 10.5 R&D expenses 1.1 4.7 1.2 5.5 Interest-bearing debt 78.6 71.0 67.8 58.6 Currency exchange rates 1USD: Average ¥108.0 ¥108.3 ¥111.1 ¥110.0 End
Slide 9: FY2017 Full-Year Outlook 1
9 FY2017 Full-Year Outlook 1 *Our earnings estimates for FY2017 have been unchanged from the initial estimates announced on May 12, 2017. (billions of yen) …FY2016 Results …FY2016 Results Revenue …FY2017 Plan …FY2017 Plan Operating 5.0 42.8 43.0 profit 41.0 4.1 33.4 3.0 25.9 26.5 2.5 2.6 17.0 1.7 16
Slide 10: FY2017 Full-Year Outlook 2
10 FY2017 Full-Year Outlook 2 *Our earnings estimates for FY2017 have been unchanged from the initial estimates announced on May 12, 2017. FY2016 Advanced Specialty Specialty Con- Other Segment Adjustment Group Materials Chemicals Plastics struction Operations Total Total Net sales 33.4 25.9 42.8 13
Slide 11: Disclaimer
11 Disclaimer • These materials are supplied to provide a deeper understanding of our company, and are not intended to as a solicitation for investment or other actions. • These materials have been prepared by our company based on the information available at this point in time. However, actual perf