Furuno Electric Co., Ltd. · TSE:6814
Furuno Electric — Q2 FY2024 Earnings Presentation
24 slides from Furuno Electric's earnings presentation, Oct 15, 2024
Slide 1: Financial Results Briefing Materials
2nd Quarter of Fiscal Year 2024 (Ending February 28, 2025) Financial Results Briefing Materials October 15, 2024 FURUNO ELECTRIC CO., LTD. Cautions: This document is a translation of the Japanese original, which is authoritative. The information listed in these materials regarding the Company’s fore
Slide 2: Summary of 2nd Quarter of FY 2024
Summary of 2nd Quarter of FY 2024 ◆Results ➢ Record results, increase in sales and profit ➢ Significant growth in operating income and net income ⚫ Strong demand in Japan and overseas for Marine business ⚫ Sales in Industrial business increased mainly with Defense Equipment ⚫ Increase in Cost of Sal
Slide 3: Consolidated Income Statement
Consolidated Income Statement Sales and Profit increased significantly with strong domestic and overseas sales growth in the Marine business, as well as favorable foreign exchange rate FY 2023 FY 2024 Year-over-Year Year-over-Year (Unit: Millions of yen) 2nd Quarter 2nd Quarter (amount) (ratio) Net
Slide 4: Analysis of Increase/Decrease in Net Sales
Analysis of Increase/Decrease in Net Sales Marine business: Significant sales increase with overall strong sales for Merchant Vessels Industrial business: Sales increase led by Defense Equipment 700 (Unit: 100 Millions of Yen) Marine Business +86.5 Industrial Business Other Business +9.2 +0.1 Mainte
Slide 5: Analysis of Increase/Decrease in Gross Profit
Analysis of Increase/Decrease in Gross Profit Profit increase with higher sales in each business, despite increase in cost of sales with higher components price and decrease in operation rate due to easing of increased production 275 (Unit: 100 Millions of Yen) Marine Business +49.8 250 Wireless Oth
Slide 6: Analysis of Increase/Decrease in Operating Profit
Analysis of Increase/Decrease in Operating Profit Increase in Profit due to higher Gross Profit in each business, despite higher SG&A expenses such as personnel costs associated with salary revisions 120 (Unit: 100 Millions of Yen) Personnel Expenses Wireless LAN Systems Increase Gross Profit Increa
Slide 7: Overview of Marine Business
Overview of Marine Business “100M” stands for 100 Million Marine Business Consolidated Sales (by Region) Marine Business (Unit: 100 Millions of Yen) Net Sales 538 100M yen (+19.2% year-over-year) 600 ■Japan ■Americas ■Europe ■Asia ■Other Segment Profit 69.2 100M yen (+27.5 100M yen) ⚫ Continued stro
Slide 8: Overview of Industrial Business
Overview of Industrial Business “100M” stands for 100 Million Industrial Business Consolidated Sales (by Product) Industrial Business (Unit: 100 Millions of Yen) Net Sales 70 100M yen (+15.3% year-over-year) 100 ■ITS, GNSS ■Healthcare ■Defense Equipment ■Wireless LAN Systems Segment Profit 3.0 100M
Slide 9: Forecast for FY 2024: Upward Revision
Forecast for FY 2024: Upward Revision With strong demand especially in the Marine business, try to achieve the Sales target of Corporate Vision (NAVI NEXT 2030) ahead of schedule and exceed ¥10B in Operating Income (Unit: Millions of yen) FY 2023 FY 2024 FY 2024 Revision Results Previous Forecast Re
Slide 10: Changes from the previous forecast: Sales
Changes from the previous forecast: Sales Demand in Marine business stronger than expected. Despite advancement of some projects from 2H to 1H and revision of Forex, sales expected to further increase in Industrial business 1,260 (Unit: 100 Millions of Yen) Industrial Others +6.7 +2.4 Industrial Oth
Slide 11: Changes from the previous forecast: Operating Profit
Changes from the previous forecast: Operating Profit 2Q: Large increase in Profit with sales increase in Marine business and product mix 2H: Despite revision of Forex and expenses increase, sales increase and unrealized profit decrease 125 (Unit: 100 Millions of Yen) Marine GP increase with Sales in
Slide 12: Appendix: Consolidated Balance Sheet
Appendix: Consolidated Balance Sheet (Unit: Millions of yen) Full Year FY 2023 2nd Quarter FY 2024 Current assets 86,285 89,871 (Cash and deposits) (11,786) (12,321) (Inventories) (46,088) (46,820) Fixed assets 28,085 28,306 (Tangible fixed assets) (14,751) (14,949) (Intangible fixed assets) (4,902)
Slide 13: Topics
Topics FURUNO ELECTRIC CO., LTD. All Rights Reserved. 13
Slide 14: Publication of the Integrated Report 2024
Topics Publication of the Integrated Report 2024 Towards a sustainable society and further enhancement of corporate value Since 2023, FURUNO has published an Integrated Report to inform our shareholders, investors and other stakeholders about our business activities, medium-term management plan and
Slide 15: World's first Onshore Support Center for remote navigation
Topics World's first “Onshore Support Center” for remote navigation Steady progress toward commercialization of unmanned vessels by 2025 MOL is participating in MEGURI2040, an unmanned vessel project being promoted by the Nippon Foundation starting in February 2020. The “Onshore Support Center,” whi
Slide 16: FURUNO's Fish Finder recognized as IEEE Milestone
Topics FURUNO’s Fish Finder recognized as IEEE Milestone About IEEE Milestone IEEE established the Milestones program to recognize significant achievements in the fields of electrical, electronics and information technology that occurred at least 25 years ago and have contributed to the advancement
Slide 17: Received two stars in the Eruboshi Certification
Topics Received two stars in the “Eruboshi” Certification FURUNO has been certified the second level (two stars) in the “Eruboshi” Certification, a system established by the Ministry of Health, Labor and Welfare, to recognize companies that are actively engaged in promoting women’s participation and
Slide 18: Sea to the Future Project
Topics “Sea to the Future” Project FURUNO communicates attractive activities and problem of sea with children as a company which has been growing in marine market for a long time. Original illustration panel exhibition Environmental learning event held at Delivering fresh and delicious fish to and w
Slide 19: 100-year Corporate Vision: Ocean Gift for All
Topics 100-year Corporate Vision: Ocean Gift for All FURUNO will celebrate its 100th anniversary in 2048. As a long-term policy, FURUNO has set a 100-year Corporate Vision: Ocean Gift for All and has identified important themes that it can contribute to in the future society ‘Ocean 5.0’ as of 2050.
Slide 20: FURUNO's Business Outline
FURUNO’s Business Outline FURUNO ELECTRIC CO., LTD. All Rights Reserved. 20
Slide 21: Appendix: Corporate Outline
Appendix: Corporate Outline Since commercializing the world's first Fish Finder in 1948, FURUNO has supplied many types of products for the marine electronics market. By using its exclusive knowledge of ultrasonic and electronics technologies, FURUNO has developed a wide array of products that have
Slide 22: Appendix: FURUNO's Business Fields
Appendix: FURUNO’s Business Fields Achieve better safety, security and comfort to bring about a society and sea navigation that considers the needs of people and the environment Automatic GPS/GNSS Identification Disciplined GPS/GNSS System (AIS) Oscillator Displacement Continuous Remote Monitoring S
Slide 23: Appendix: FURUNO's Marine Business
Appendix: FURUNO’s Marine Business For Merchant Vessels ECDIS (Electronic Chart Display Satellite Communications Radar and Information System) Equipment For Fishing Vessels Sonar Fish Finder Current Indicator Radiotelephone For Pleasure Boats GPS/WAAS Radar Multi-Function Display Chart Plotter Autop
Slide 24: Appendix: FURUNO's Industrial Business
Appendix: FURUNO’s Industrial Business ITS, GNSS ETC2.0 / ETC * ETC, Vehicle GPS / GNSS Management Solution* Chips & Modules Healthcare Clinical Chemistry Analyzer & Reagent Ultrasound Bone Densitometer Wireless LAN Systems Wireless LAN Access Point* Wireless Handheld Terminal* FURUNO ELECTRIC CO.,