Kureha Corporation · TSE:4023
Kureha — Q1 FY2022 Earnings Presentation
14 slides from Kureha's earnings presentation, Aug 9, 2022
Slide 1: FY2022 1Q Results
FY2022 1Q Results August 9, 2022
Slide 2: Highlights
1 Highlights FY2022 1Q Results YoY: Delivered strong revenue and profit growth driven by 1Q/FY21 4Q/FY21 1Q/FY22 YoY QoQ broad-based pricing actions for advanced plastics and volume gains in Advanced Materials, more than offsetting AM 1.0 5.8 5.6 +4.7 -0.1 higher fuel and raw material costs and incr
Slide 3: FY2022 1Q Summary (1)
2 FY2022 1Q Summary (1) (in billions of yen) Vs. FY2021 1Q FY2021 FY2022 Change 1Q 1Q YOY • Revenue growth led by advanced plastics, 11.4 particularly PVDF binder for lithium-ion Revenue 37.8 49.3 (+30.2%) batteries Core operating profit 4.2 8.1 3.9 • Higher core operating profit driven by strong (+
Slide 4: FY2022 Q1 Summary (2)
3 FY2022 Q1 Summary (2) (in billions of yen) Performance by Segment (vs. 1Q/FY21) Revenue Core operating profit 24.5 5.6 前期 1Q/FY21 当期 1Q/FY22 前期 1Q/FY21 当期 1Q/FY22 14.2 2.3 2.1 11.9 1.0 11.2 0.9 0.6 0.1 0.1 5.3 6.6 4.4 4.3 2.6 1.9 -0.0 -0.3 Other Advanced 機能製品 Specialty Specialty Other Advanced 機能製
Slide 5: Segment Performance: Advanced Materials
4 Segment Performance: Advanced Materials (billions of yen) Vs. FY2021 1Q FY2021 FY2022 Change % Revenue ➚ Operating profit ➚ 1Q 1Q Advanced Materials Advanced plastics Revenue up, profit up: Advanced plastics 9.7 19.2 +98% - Continued strong demand for PVDF in the Carbon products 1.5 1.5 +7% automo
Slide 6: Segment Performance: Specialty Chemicals
5 Segment Performance: Specialty Chemicals (billions of yen) Vs. FY2021 1Q FY2021 FY2022 Change % Revenue ➚ Operating profit ➘ 1Q 1Q Specialty Chemicals Agrochemicals & Pharmaceuticals Agrochemicals 0.7 1.6 +130% Revenue up, profit down: - Higher fungicides volumes Pharmaceuticals 1.2 1.1 -14% - Dec
Slide 7: Segment Performance: Specialty Plastics
6 Segment Performance: Specialty Plastics (billions of yen) Vs. FY2021 1Q FY2021 FY2022 Change % Revenue ➚ Operating profit ➘ 1Q 1Q Specialty Plastics Home products & Fishing lines Revenue down, profit down: Home products 5.9 5.8 -2% - Slower sales of NEW Krewrap (home-use food Fishing lines 1.3 1.2
Slide 8: Segment Performance: Construction
7 Segment Performance: Construction (billions of yen) Vs. FY2021 1Q FY2021 FY2022 Change 1Q 1Q % Construction Construction Revenue ➘ Operating profit ➘ Construction 4.5 3.9 -13% - Fewer private construction projects Elimination - Flat volume growth in public construction -1.9 -2.0 -- (Intercompany s
Slide 9: Financial Position
8 Financial Position (billions of yen) Assets Liabilities and Equity Mar. 31 Jun. 30 Mar. 31 Jun. 30 Change Change 2022 2022 2022 2022 Cash and cash equivalents 30.6 28.3 -2.3 Trade and other payables 29.5 29.5 0.0 Trade and other receivables 35.8 39.1 3.3 Interest-bearing debt 28.5 30.8 2.3 Invento
Slide 10: PGA & PVDF Business Updates
9 PGA & PVDF Business Updates Revenue: PVDF Revenue: PGA ¥ billion ¥ billion 15 150 1.5 15 電池向け LiB binder Other 素材向け applications 10 100 1.0 10 5 50 0.5 5 00 00 • The LiB market continues to grow with increased • The shale oil and gas market is gradually recovering demand for electric vehicles (BEV
Slide 11: Revisions to FY2022 2Q Forecast
10 Revisions to FY2022 2Q Forecast (in billions of yen) FY2022Q2 FY2022Q2 Change Changes in FY2021Q2 Revised YoY Initial forecast forecast forecast 20.9 10.0 Revenue 79.1 100.0 (+26.5%) 90.0 (+11.1%) 2.2 2.8 Core operating profit 11.1 13.3 (+19.6%) 10.5 (+26.7%) Adjustments 0.0 -- -0.0 0.0 -- Other
Slide 12: Revisions to FY2022 2Q Forecast
11 Revisions to FY2022 2Q Forecast (in billions of yen) Segment Performance (vs. Initial forecast) Revenue Core operating profit 47.0 2023/3当初予想 2Q Initial forecast 7.5 2023/3当初予想 2Q Initial forecast 41.5 2023/3今回予想 2023/3今回予想 2Q Revised forecast 2Q Revised forecast 5.2 22.0 23.5 3.5 3.7 16.5 13.5 8
Slide 13: FY2022 Full-Year Outlook & Risk Management
12 FY2022 Full-Year Outlook & Risk Management ➢ As some risks still remain to possibly affect our operations, Kureha will update and announce its full-year earnings forecast based on changes in the business conditions when releasing 2Q results (scheduled for November 9, 2022) Risks reflected into ou
Slide 14: Disclaimer
13 Disclaimer • This presentation material is provided for a deeper understanding of our company, and is not intended to be used as a solicitation for investment or other activities. • This material has been prepared by our company based on the information available at the time of the presentation.