Kureha Corporation · TSE:4023
Kureha — Q3 FY2024 Earnings Presentation
16 slides from Kureha's earnings presentation, Feb 10, 2025
Slide 1: FY2024 3Q Results
FY2024 3Q Results February 10, 2025
Slide 2: Key Takeaways
Key Takeaways FY2024 3Q YoY changes: Main Factors FY2024 3Q Results ・ EV market is experiencing stagnation, particularly in Europe, and sales and profit of PVDF for LiB binders decreased. Revenue and profit (billion yen) ・ The PGA profit decreased due to less gain on reversal of the loss on valuatio
Slide 3: The Status of Initiatives Toward Key Performance Indicators (ROE/PBR) for Fiscal Year 2025
The Status of Initiatives Toward Key Performance Indicators (ROE/PBR) for Fiscal Year 2025 Initiatives for the Current Fiscal Year Toward Fiscal Year 2025 (Improvement of Profitability) ・Aiming to improve profitability through existing business and additional cost reduction measures amid market stag
Slide 4: FY2024 3Q Financial Overview (1)
FY2024 3Q Financial Overview（1） 3Q Results by Segment: YoY Change (billion yen) Revenue Core operating profit FY23 3Q FY23 3Q 49.4 FY24 3Q FY24 3Q 43.3 7.0 6.1 6.5 36.5 33.0 24.5 22.4 13.2 13.4 1.8 2.0 9.3 9.9 1.3 0.9 0.5 0.8 0.8 Advanced Specialty Specialty Construction Other Advanced Specialty Spe
Slide 5: FY2024 3Q Financial Overview (2)
FY2024 3Q Financial Overview（2） Factors Affecting Operating Profit: FY2024 3Q Results The PVDF business experienced a decline due to the slowdown in the EV market. The PGA business also saw a drop in profits due to less gain on the reversal of the loss on valuation of inventories. However, other exi
Slide 6: Key Items: PVDF Business
Key Items: PVDF Business < LiB Market > Overview and Strategies EV Applications LiB Applications The European EV market, which is the primary market for our ・ We will closely monitor the impact of the new US administration's review of customer LiB manufacturers, is expected to remain flat from the I
Slide 7: Key Items: PGA Business
Key Items: PGA Business Overview and Strategies < Market (Gas Prices) > Medium- to High-Temperature Regions 10 ・ The Shell oil and gas drilling market is expected to experience 9 revitalization due to the shift in energy policy under the new U.S. 8 administration. Dollars per Million Btu 7 6 ・ Altho
Slide 8: Key Items: Home Products Business Agrochemicals Business
Key Items: Home Products Business Agrochemicals Business <Home Products Business> <Agrochemicals Business> Market Outlook Current Business ・ The household wrap market is currently stable, and we anticipate ・ Although sales temporarily decline this fiscal year due to sustained slight growth driven by
Slide 9: Segment Performance: Advanced Materials
Segment Performance: Advanced Materials (billion yen) <YoY Change> FY24 FY23 Change Sales revenues ↓ Operating profit ↓ 3Q 3Q Amount % Advanced plastics Advanced plastics 28.1 35.2 -7.1 -20% Despite an improvement in equity in earnings from PPS, revenue and profit for PVDF used in Carbon products 5.
Slide 10: Segment Performance: Specialty Chemicals
Segment Performance: Specialty Chemicals (billion yen) <YoY Change> FY24 FY23 Change Sales revenues Operating profit 3Q 3Q Amount % Agrochemicals and pharmaceuticals Agrochemicals 4.7 6.6 -1.9 -29% Sales on agrochemicals decreased due to the inventory adjustment on the customer side. Sales Pharmaceu
Slide 11: Segment Performance: Specialty Plastics
Segment Performance: Specialty Plastics (billion yen) <YoY Change> FY24 FY23 Change Sales revenues Operating profit 3Q 3Q Amount % Home products and fishing lines Home products 17.9 19.0 -1.1 -6% Sales revenue from fishing lines increased with strong demand in overseas markets. Sales volume of Fishi
Slide 12: Segment Performance: Construction, and Other Operations
Segment Performance: Construction, and Other Operations (billion yen) <YoY Change> FY24 FY23 Change Construction 3Q 3Q Amount % Sales revenue Operating profit 【Construction】 Sales in both private and public sector increased, resulting in an overall rise in sales revenue. Revenue 9.9 9.3 0.7 7% Howev
Slide 13: Financial Position
Financial Position Assets Liabilities and Equity (billion yen) Dec. 31, Mar. 31, Dec. 31, Mar. 31, Change Change 2024 2024 2024 2024 Cash and cash equivalents 24.8 23.1 1.6 Trade and other payables 24.5 20.5 4.0 Trade and other receivables 30.1 40.6 -10.5 ※1 Interest-bearing debt 74.6 54.9 19.7 ※3 I
Slide 14: Cash Flow
Cash Flow (billion yen) FY24 FY23 Change 3Q 3Q Profit before income taxes 11.1 16.3 -5.2 Depreciation 9.5 8.7 0.9 Other 5.1 -14.3 19.4 Cash flow from operating activities 25.7 10.7 15.0 Cash flow from investing activities -26.0 -32.5 6.5 Free cash flow -0.3 -21.8 21.5 Main drivers of change Operatin
Slide 15: Policy Shareholdings
Policy Shareholdings (billion yen) 250 25% 200 20% 150 15% 100 10% 50 5% 0 0% end- end- end- end- end- end- end- end- end- FY2023/ FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 3Q Policy shareholdings 21.2 26.2 24.4 20.2 17.5 16.5 17.7 23.2 19.3 Consolidated net assets 126.0 152.0 162.2 16
Slide 16: Disclaimer
Disclaimer • This document is intended solely for the purpose of providing a better understanding of our Company and is not intended as a solicitation to invest or take any other action. • This document has been prepared based on currently available information. Please note that actual results may d