Yamato Holdings Co., Ltd. · TSE:9064
Yamato — Q1 FY2025/3 Earnings Presentation
32 slides from Yamato's earnings presentation, Aug 1, 2024
Slide 1: Yamato Group IR Presentation Material
Yamato Group IR Presentation Material ＜1st Quarter of the Fiscal year ending March 2025＞ August 1, 2024 Yamato Holdings Co., Ltd. Copyright© YAMATO HOLDINGS CO., LTD. All rights reserved.
Slide 2: 1. Consolidated earnings (Summary)
1. Consolidated earnings (Summary) 【Results for Q1 of FY2025/3】 Operating revenue 405.6 bn yen ((14.5) bn yen YoY) Operating profit (14.2) bn yen ((15.8) bn yen YoY) Profit attributable to owners of parent (10.1) bn yen ((9.9) bn yen YoY) 【Overview】 • Although operating revenue was lower than expect
Slide 3: 2. Reasons for increase/decrease in operating revenues and operating profit
2. Reasons for increase/decrease in operating revenues and operating profit Operating revenue 420.2 bn yen (11.6) bn yen (5.9) bn yen (0.7) bn yen ＋3.6 bn yen ＋0.1 bn yen 405.6 bn yen FY2024/3 Express Contract Logistics Global Mobility Other FY2025/3 Q1 Actual (EXP) Business (CL) Business Business B
Slide 4: 3. Consolidated earnings forecast (key metrics)
3. Consolidated earnings forecast (key metrics) • Reviewed outlook for parcel delivery volume based on current consumption trends etc., and made adjustments to operating revenue and operating expenses ＜3 TA-Q-BIN products＞ • Will continue to focus on building up volume in the Retail domain (individu
Slide 5: 4. Express (EXP) Business
4. Express (EXP) Business Base domain ・ 【Retail】 Revenue growth from further strengthening of sales and enhancement of service lineup ・ 【Corporate】 Strengthen initiatives to charge appropriate rates and promote acquisition of new clients, which leads to expanding the upstream domain Status in the fi
Slide 6: 5. EXP Business (Structural reforms of network operations)
5. EXP Business (Structural reforms of network operations ) Base domain • Controlled cost per parcel to be within expectations, as a result of focusing on cost control based on workload • With business conditions becoming even tougher, Yamato will strengthen initiatives to optimize operating costs S
Slide 7: 6. Global Business
6. Global Business Growth domain • Promote development of cross-border EC “to” Japan (imports), utilizing the TA-Q-BIN network and Yamato’s customs and bonding expertise • Also, develop cross-border “from” Japan (exports), based on expertise acquired through imports Status in the first quarter Devel
Slide 8: 7. Value creation using freighters
7. Value creation using freighters New domain* • Secure “stable operational structure”, which was top priority when starting operations • Review how the service is designed, and capture new demand for stable and speedy transportation Status in the first quarter Future policies Starting operations
Slide 9: Overview of Consolidated Results for the 1st Quarter of the Fiscal Year Ending March 2025
Overview of Consolidated Results for the 1st Quarter of the Fiscal Year Ending March 2025 Copyright© YAMATO HOLDINGS CO., LTD. All rights reserved.
Slide 10: 8. Operating Results for the 1st Quarter of FY 2025/3
8. Operating Results for the 1st Quarter of FY 2025/3 FY2024/3 Q1 FY2025/3 Q1 (Billions of Yen) YoY Change Actual Actual Amount [%] Operating revenue 420.2 405.6 (14.5) (3.5) Operating profit 1.5 (14.2) (15.8) - Profit margin [%] 0.4 (3.5) (3.9) - Ordinary profit 1.8 (14.8) (16.7) - Profit margin [%
Slide 11: 9. YoY Analysis of Operating Revenue by Segment
9. YoY Analysis of Operating Revenue by Segment 【EXP】 Delivery volume grew mainly for cross-border EC and BtoB-EC, but operating revenue decreased due to a decline in post-box delivery volume etc. 【CL】 Operating revenue decreased due to the negative impact compared to the previous year, when we had
Slide 12: 10. Quarterly Trends of Parcel Delivery
10. Quarterly Trends of Parcel Delivery • Parcel delivery volume: Overall volume was increased YoY (first time in 6 quarters) due to an increase in the Corporate domain, despite a decrease in the Retail domain (the rate of decrease is improving) • Parcel delivery pricing: Although the increase in th
Slide 13: 11. Summary of Operating Expenses
11. Summary of Operating Expenses • Although unit prices of wages and outsourcing increased, progress was made in optimizing operating costs by linking it to volume, mainly in the last-mile domain, which led to a decline in personnel expenses and delivery commission • Increases in initial expenses t
Slide 14: 12. YoY Analysis of Operating Expenses
12. YoY Analysis of Operating Expenses (Billions of yen) 1.5 Personnel Vehicle Expenses Expenses Other (12.4) (0.1) operating expenses ＋3.6 Operating Eliminations Revenue (14.5) Subcontracting Expenses Operating Operating ＋7.2 (14.2) FY2024/3 Q1 ＋2.9 expenses profit FY2025/3 Q1 Operating profit Actu
Slide 15: 13. Operating Expenses (Quarterly / YoY change)
13. Operating Expenses (Quarterly / YoY change) FY2024/3 FY2025/3 Q1 Q2 Q3 Q4 Q1 (Billions of Yen) Apr.- YoY Change July- YoY Change Oct.- YoY Change Jan.- YoY Change Apr.- YoY Change June Amount [%] Sep. Amount [%] Dec. Amount [%] Mar. Amount [%] June Amount [%] Operating revenue 420.2 (3.9) (0.9)
Slide 16: 14. Investment plan
14. Investment plan • Continue to promote investment while assessing the profit-generating effects of each project Total: Q1 Results Forecast for FY2025/3 Objective 150 bn yen 11.3 bn yen （without M&A) Enhance productivity, reduce fixed costs 64.5 bn Facilities strategy 2 bn Create a worker-friendly
Slide 17: 15. Operating Results Forecast for FY2025/3
15. Operating Results Forecast for FY2025/3 • Reviewed outlook for parcel delivery volume based on current consumption trends etc., and made adjustments to operating revenue and operating expenses ＜3 TA-Q-BIN products＞ • Will continue to focus on building up volume in the Retail domain (individuals
Slide 18: 16. Operating Results Forecast for FY2025/3 (Breakdown of Operating Expenses and others)
16. Operating Results Forecast for FY2025/3 (Breakdown of Operating Expenses and others) • Further strengthen cost control, in conjunction with reviewing the outlook for operating revenue and parcel delivery volume FY2025/3 FY2024/3 FY2025/3 (Billions of Yen) Forecast Forecast Change YoY Change Actu
Slide 19: Reference-1 Structural reform of network operations (Status of cost per parcel)
Reference-1 Structural reform of network operations (Status of cost per parcel) Transportation domain (Trunk-route and intra-regional transportation, Terminal operations) (0.4) yen: Cost per parcel in transportation domain (Q1) from forecast ＜Main factors for difference from forecast: (0.4) yen＞ ＋
Slide 20: Reference-2 Consolidation and enlargement of last-mile pickup & delivery facilities
Reference-2 Structural reform of network operation (Consolidation and enlargement of last-mile pickup & delivery facilities) Trend of no. of last-mile facilities 3,138 3,086 2,995 2,915 Progressing almost in line with plan 2,870 Approx. 2,700 Accelerate the consolidation of facilities while veri
Slide 21: Reference-3 Established a New Company to Provide an Open Platform for Joint Transportation and Delivery
Reference-3 Established a New Company to Provide an Open Platform for Joint Transportation and Delivery • Established a new company, “Sustainable Shared Transport Inc. (SST)” to provide an open platform for joint transportation and delivery to build a sustainable supply chain Overview of SST Busines
Slide 22: Reference-4 Changes to reporting segments
Reference-4 Changes to reporting segments (from FY2024/3 financial results meeting material) • Change to the Express(EXP) Business, Contract Logistics(CL) Business, Global Business and Mobility Business, in alignment with our management strategy and structure Segments / key entities (Before) Segment
Slide 23: Supplementary Materials: Results for the 1st Quarter
Supplementary Materials ＜Results for the 1st Quarter of the Fiscal Year Ending March 2025＞
Slide 24: 1. Operating Results by Segment
1. Operating Results by Segment FY2025/3 Q1 Mobility (Billions of Yen) EXP Business CL Business Global Business Other Total Reconciliation Consolidated Business Operating Revenues Unaffiliated Customers 353.2 19.3 21.9 5.0 6.1 405.6 － 405.6 Inter-segment 9.1 1.1 0.8 8.6 11.8 31.5 (31.5) － Total 362.
Slide 25: 2. Employee Breakdown
2. Employee Breakdown FY2024/3 Q1 FY2025/3 Q1 (Number) Change ※ Full-time Part-time Total Full-time Part-time Total Full-time Part-time Total [%] Total Employees 92,607 117,456 210,063 88,863 87,182 176,045 (3,744) (30,274) (34,018) (16.2) Express Business 83,250 96,433 179,683 80,165 81,463 161,628
Slide 26: 3. Financial Position and Cash Flows
3. Financial Position and Cash Flows Balance sheet (Billions of Yen) As of March 31, 2024 As of June 30, 2024 Change Total assets 1,135.8 1,120.1 (15.7) Current assets 496.3 473.3 (23.0) Cash and deposits 195.0 166.1 (28.8) Notes and accounts receivable 212.0 214.9 +2.8 – trade, and contract assets
Slide 27: 4. Capital Expenditure and Depreciation
4. Capital Expenditure and Depreciation FY2024/3 Q1 FY2025/3 Q1 (Billions of Yen) Change Actual [%] Actual [%] Amount [%] Capital Expenditure 11.9 100.0 11.3 100.0 (0.5) (4.8) Vehicles 0.0 0.8 0.8 7.1 ＋0.7 ＋774.9 Office / Buildings and Accompanying Facilities 5.2 43.7 4.3 38.4 (0.8) (16.3) Automatic
Slide 28: Supplementary Materials: Forecast for the Fiscal Year Ending March 2025
Supplementary Materials ＜Forecast for the Fiscal Year Ending March 2025＞
Slide 29: 1. Operating Revenue by Segment (Forecast)
1. Operating Revenue by Segment (Forecast) (Billions of Yen) FY2024/3 FY2025/3 Change [%] [%] Amount [%] Express Business 1,548.5 88.1 1,573.0 88.4 ＋24.4 + 1.6 Contract Logistics Business 89.0 5.1 66.0 3.7 (23.0) (25.9) Global Business 74.0 4.2 95.0 5.3 ＋20.9 + 28.3 Mobility Business 20.1 1.1 21.0 1
Slide 30: 2. Operating Profit by Segment (Forecast)
2. Operating Profit by Segment (Forecast) (Billions of Yen) FY2024/3 FY2025/3 Change [%] [%] Amount [%] Express Business 11.3 28.4 21.8 42.8 ＋10.4 + 92.0 Contract Logistics Business 9.7 24.3 9.4 18.5 (0.3) (3.1) Global Business 6.6 16.7 7.8 15.3 ＋1.1 + 17.1 Mobility Business 4.1 10.3 4.2 8.3 ＋0.0 +
Slide 31: 3. Employee Breakdown (Forecast)
3. Employee Breakdown (Forecast) FY2024/3 FY2025/3 (Number) Change Full-time Part-time Total Full-time Part-time Total Full-time Part-time Total [%] Total Employees 88,917 88,513 177,430 85,600 79,400 165,000 (3,317) (9,113) (12,430) (7.0) Express Business 80,338 82,728 163,066 77,000 74,000 151,000
Slide 32: Disclaimer
Disclaimer 免責事項 This material is intended for informational purposes only and is not a solicitation or offer to buy or sell securities or related financial この内容は、投資判断の参考となる情報の提供を目的としたもので、投資勧誘を目的としたものではありません。提供情報の内容については instruments. Ultimately it is the responsibility of investors to select and buy