Resonac Holdings Corporation · TSE:4004
Resonac — Q1 2023 Earnings Presentation
24 slides from Resonac's earnings presentation, May 15, 2023
Slide 1: Consolidated Financial Results First Quarter, 2023
Consolidated Financial Results First Quarter, 2023 Hideki Somemiya, CFO Director & Managing Corporate Officer May 15, 2023
Slide 2: Key Takeaways
Key Takeaways - 2023 1Q, compared to 1Q previous year, net sales saw a decrease by 9.1 billion yen. Weakened demand for HD media and semiconductor materials lead to a decrease of sales in Semiconductor and Electronic Materials segment, surpassing an increase of sales in Chemical segment, brought abo
Slide 3: Table of Contents
Table of Contents 1. Consolidated Financial Statements for 2023 1Q 2. 2023 Full-year Performance Forecast ©Resonac Holdings Corporation All Rights Reserved.
Slide 4: Summary (2022 1Q vs. 2023 1Q)
Summary (2022 1Q vs. 2023 1Q) Based on ongoing businesses *2 (Unit: Billions of Yen) Reference (Unit: Billions of Yen) 2022 2023 Increase/ 2022 2023 Increase/ 1Q*1 1Q Decrease 1Q 1Q Decrease Net sales 308.0 298.9 (9.1) Net sales 304.8 298.9 (5.8) Operating Operating income 15.8 (9.2) (25.0) 15.6 (9.
Slide 5: Breakdown of Operating Income Changes (2022 1Q vs. 2023 1Q)
Breakdown of Operating Income Changes (2022 1Q vs. 2023 1Q) (Unit: Billions of Yen) ©Resonac Holdings Corporation All Rights Reserved. 5
Slide 6: Segmental Breakdown (2022 1Q vs. 2023 1Q)
Sales, Operating Income and EBITDA: Segmental Breakdown (2022 1Q vs. 2023 1Q) (Unit: Billions of Yen) 2022 2023 Increase/ Segment 1Q 1Q Decrease Sales 107.3 69.4 (38.0) (35%) Semiconductor and Operating Income 13.2 (10.4) (23.5) - Electronic Materials EBITDA 25.5 2.7 (22.8) (90%) Sales 44.4 42.5 (1.
Slide 7: Semiconductor and Electronic Materials
Segmental Summary (2022 1Q vs. 2023 1Q) Semiconductor and Electronic Materials (Unit: Billions of Yen) 2022 2023 Increase/ Performance Overview 1Q 1Q Decrease Sales dropped significantly as weakened demand, Sales 107.3 69.4 (38.0) (35%) began 2nd half of the previous year, lingered on. Decreased sal
Slide 8: Mobility
Segmental Summary (2022 1Q vs. 2023 1Q) Mobility (Unit: Billions of Yen) 2022 2023 Increase/ Performance Overview 1Q 1Q Decrease Sales 44.4 42.5 (1.9) (4%) Both sales and operating income decreased, due to the divestiture of ISOLITE GmbH in 2022 3Q as well as the impact of weak consumer demand for c
Slide 9: Innovation Enabling Materials / Chemicals
Segmental Summary (2022 1Q vs. 2023 1Q) Innovation Enabling Materials / Chemicals (Unit: Billions of Yen) 2022 2023 Increase/ Performance Overview 1Q 1Q Decrease Sales decreased as sales volume down, Innovation Sales 34.3 30.0 (4.3) (13%) despite raised product prices as raw material Enabling prices
Slide 10: Non-operating Income/Expenses, Extraordinary Profit/Loss
Non-operating Income/Expenses, Extraordinary Profit/Loss Non-operating Income/Expenses Extraordinary Profit/Loss (Unit: Billions of Yen) (Unit: Billions of Yen) 2022 2023 Increase/ 2022 2023 Increase/ 1Q 1Q Decrease 1Q 1Q Decrease Gains on sale of Interest/Dividends investment securities 0.1 0.4 0.3
Slide 11: Consolidated Balance Sheet
Consolidated Balance Sheet Consolidated Balance Sheet (Unit: Billions of Yen) Dec. 31, Mar. 31, Increase/ Dec. 31, Mar. 31, Increase/ Assets Decrease Liabilities and net assets Decrease 2022*1 2023 2022*1 2023 Cash and deposits 187.3 170.9 (16.4) Notes and accounts payable 194.1 174.6 (19.5) Notes a
Slide 12: Table of Contents
Table of Contents 1. Consolidated Financial Statements for 2023 1Q 2. 2023 Full-year Performance Forecast ©Resonac Holdings Corporation All Rights Reserved.
Slide 13: 2023 Consolidated Forecast (Full-year)
2023 Consolidated Forecast (Full-year) (Unit: Billions of Yen except Cash dividends per Share and Net income per Share) 2022 2023 Increase/ 2023 Forecast Result*1 Forecast*2 Decrease 1st Half 2nd Half Net sales 1,392.6 1,340.0 (52.6) 640.0 700.0 Operating income 61.7 (20.0) (81.7) (20.0) 0.0 Non-ope
Slide 14: Segmental Breakdown (Consolidated)
Reference Sales and Operating Income 2022: Segmental Breakdown (Consolidated) (Unit: Billions of Yen) 2023 Forecast*1 2023 Earlier 2022 Segment Forecast*2 Result 1Q 2Q 1st Half 2nd Half Full Year 1Q Difference Full Year Semiconductor and Sales 69.4 80.6 150.0 200.0 350.0 80.0 (10.6) 427.2 Electronic
Slide 15: Structural Reforms Underway
Structural Reforms Underway Structural Reforms Thorough and non-consecutive actions based on the grasp of changes in business environment Production capacity Strategy shift, including Resource shift based on optimization, deeming change in market/product to new strategy cyclicality unavoidable focus
Slide 16: Appendix
Appendix ©Resonac Holdings Corporation All Rights Reserved.
Slide 17: Consolidated Companies, Key Outside Factors
Reference Consolidated Companies, Key Outside Factors Consolidated Companies Consolidated subsidiaries: 104 (-4 from Dec. 31, 2022) -3: Integration of regional HQs -1: Absorption and merger of HC Holdings K.K., an SPC to acquire former Hitachi Chemical Equity method applied: 12 (-1 from Dec. 31, 202
Slide 18: Capital Expenditures, Depreciation, R&D expenditures, Financial costs and Preferred stock dividends
Capital Expenditures, Depreciation, R&D expenditures, Financial costs and Reference Preferred stock dividends (Consolidated) (Unit: Billions of Yen) 2022 2023 Increase/ 1Q* 1Q Decrease Capital expenditures 23.1 21.0 (2.1) Depreciation and amortization 22.3 22.9 0.6 R&D expenditures 11.2 10.3 (0.9) I
Slide 19: Capital Expenditures: Segmental Breakdown
Reference Capital Expenditures: Segmental Breakdown (Unit: Billions of Yen) 2022 2023 Increase/ Segment 1Q 1Q Decrease Semiconductor and Electronic 12.9 10.9 (2.0) Materials Mobility 1.8 2.4 0.5 Innovation Enabling Materials 1.7 1.3 (0.5) Chemicals 4.1 3.8 (0.2) Others 2.6 2.6 0.1 Total 23.1 21.0 (2
Slide 20: Depreciation: Segmental Breakdown
Reference Depreciation: Segmental Breakdown (Unit: Billions of Yen) 2022 2023 Increase/ Segment 1Q 1Q Decrease Semiconductor and Depreciation 9.0 9.7 0.7 Electronic Materials Amortization of goodwill 3.3 3.3 0.0 Depreciation 4.1 4.2 0.1 Mobility Amortization of goodwill 0.5 0.5 0.0 Innovation Enabli
Slide 21: Summary (2022 4Q vs. 2023 1Q)
Reference Summary (2022 4Q vs. 2023 1Q) (Unit: Billions of Yen) 2022 2023 Increase/ 4Q* 1Q Decrease Net sales 358.5 298.9 (59.5) Operating income 7.0 (9.2) (16.2) Non-operating income and (10.6) (1.7) 8.9 expenses, net Ordinary income (3.6) (10.9) (7.3) Extraordinary profit/loss 6.2 (3.8) (10.0) Inc
Slide 22: Segmental Breakdown (Consolidated)
Reference Sales and Operating Income 2022: Segmental Breakdown (Consolidated) (Unit: Billions of Yen) 2022*1 Segment 1Q 2Q 3Q 4Q Full Year Semiconductor and Sales 107.3 113.0 112.0 94.8 427.2 Electronic Materials Operating Income 13.2 14.1 13.2 5.0 45.5 Sales 41.2 38.9 45.0 45.7 170.8 Mobility Opera
Slide 23: Topics
Reference Topics Segment Topics Resonac Wins the Grand Prix at NIKKEI Integrated Report Award 2022 — “Message from the top management” in our report obtained full marks in the screening process of the Award — General Mr. Tsuneishi Takes Office as Outside Director of Resonac Holdings — Former Chairma
Slide 24: 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