Ebara Corporation · TSE:6361
Ebara — 9M 2023 Earnings Presentation
33 slides from Ebara's earnings presentation, Nov 14, 2023
Slide 1: Results Presentation for Nine Months Ended September 30, 2023
Results Presentation for Nine Months Ended September 30, 2023 EBARA (6361) November 14, 2023
Slide 2: Table of Contents
Table of Contents Points of Results P3 4. Topics 1. FY23 1-3Q Summary of Results ・Strengthening and Expanding Business in China P20 ・Consolidated P5 5. Appendix ・Segment P6 ・Orders P22 ・Breakdown of Changes in Operating Profit P7 ・Revenue by Region P8 ・Revenue P23 2. FY23 1-3Q Results by Segment ・Op
Slide 3: Points of Results
Points of Results FY23 1-3Q Results FY23 Forecast YoY* YoY* Change Vs. P.Plan* ¥3.8 B. ¥-25.2 B. ¥27.0 B. Orders ¥598.3 B. +0.6% → Orders ¥790.0 B. -3.1% → +3.5% → ¥71.1 B. ¥66.1 B. - Revenue ¥551.2 B. +14.8% ↗ Revenue ¥747.0 B. +9.7% ↗ - → ¥14.2 B. ¥0.4 B. - Operating Profit ¥56.9 B. +33.5% ↗ Opera
Slide 4: 1. FY23 1-3Q Summary of Results
1. FY23 1-3Q Summary of Results 2. FY23 1-3Q Results by Segment 3. FY23 Forecast 4. Topics 5. Appendix 4 Copyright(c) Ebara Corporation, All rights reserved
Slide 5: Consolidated
1. FY23 1-3Q Summary of Results Consolidated (billions of yen) FY22 1-3Q FY23 1-3Q Change Change % Announced date (m/d/y) a b b-a (b-a)/a Orders 594.5 598.3 +3.8 +0.6% Revenue 480.0 551.2 +71.1 +14.8% Operating Profit 42.6 56.9 +14.2 +33.5% OP Ratio 8.9% 10.3% +1.4pts Profit Attributable 27.2 34.9 +
Slide 6: Segment
1. FY23 1-3Q Summary of Results Segment (billions of yen) FY22 1-3Q FY23 1-3Q Change Change % Announced date (m/d/y) a b b-a (b-a)/a Orders 594.5 598.3 +3.8 +0.6% Revenue 480.0 551.2 +71.1 +14.8% Total Operating Profit 42.6 56.9 +14.2 +33.5% OP Ratio 8.9% 10.3% +1.4pts Building Orders 156.6 169.3 +1
Slide 7: Breakdown of Changes in Operating Profit
1. FY23 1-3Q Summary of Results Breakdown of Changes in Operating Profit OP increased due to higher revenue, limited impact of yen depreciation in 1-3Q Driven by Building Service & Industrial, Energy, and Precision Machinery (+) (billions of yen) Increase in labor cost as well as R&D expenses, depre
Slide 8: Revenue by Region
1. FY23 1-3Q Summary of Results Revenue by Region 191.5 Japan 178.5 +7.3% 359.6 +19.3% Overseas 301.4 Middle Others East 4% 96.9 China 83.5 +15.9% 5% Japan Europe 35% Asia (excl. 105.5 9% 90.4 +16.7% China) North North 58.0 FY23 1-3Q 41.4 +40.0% America America Revenue 11% Composition 48.1 Europe 43
Slide 9: 2. FY23 1-3Q Results by Segment
1. FY23 1-3Q Summary of Results 2. FY23 1-3Q Results by Segment 3. FY23 Forecast 4. Topics 5. Appendix 9 Copyright(c) Ebara Corporation, All rights reserved
Slide 10: Building Service & Industrial
2. FY23 1-3Q Results by Segment Building Service & Industrial Results (billions of yen) Highlights Orders Revenue Market ◼ GDP growth continues to slow in Europe, the Middle East, and Environment China, but domestic capital investment remains strong 220.0 210.0 ◼ China's building equipment market is
Slide 11: Energy
2. FY23 1-3Q Results by Segment Energy Results (billions of yen) Highlights Orders Revenue Market ◼ In the LNG market, projects are active in North America Environment ◼ In the downstream oil and gas market, petrochemical projects 217.0 are active in North America, Asia, and the Middle East FY22 FY2
Slide 12: Infrastructure
2. FY23 1-3Q Results by Segment Infrastructure Results (billions of yen) Highlights Orders Revenue Market ◼ Domestic public pump market remains steady Environment ◼ Investment in advance disaster prevention and FY22 FY23 43.2 53.5 49.0 46.2 50.0 aging measures is expected to remain strong due to 36.
Slide 13: Environmental Solutions
2. FY23 1-3Q Results by Segment Environmental Solutions Results (billions of yen) Highlights Orders Revenue Market ◼ Demand for new construction of waste treatment facilities for Environment public use remained stable as in past years FY22 FY23 105.8 ◼ Two large projects * DBO: Design, build and ope
Slide 14: Precision Machinery
2. FY23 1-3Q Results by Segment Precision Machinery Results (billions of yen) Highlights Orders Revenue Market ◼ In the semiconductor market, capital investment is being Environment postponed or partially cancelled, but there are signs that factory operations have bottomed out in some areas FY22 FY2
Slide 15: 3. FY23 Forecast
1. FY23 1-3Q Summary of Results 2. FY23 1-3Q Results by Segment 3. FY23 Forecast 4. Topics 5. Appendix 15 Copyright(c) Ebara Corporation, All rights reserved
Slide 16: Consolidated
3. FY23 Forecast Consolidated 1-4Q (billions of yen) FY22 Results FY23 P.Plan FY23 Plan YoY Change Change from previous plan Announced date (m/d/y) Aug/14/23 Nov/14/23 Change Change % Change Change % a b c c-a (c-a)/a c-b (c-b)/b Orders 815.2 763.0 790.0 -25.2 -3.1% +27.0 +3.5% Revenue 680.8 747.0 7
Slide 17: Segment
3. FY23 Forecast Segment 1-4Q (billions of yen) FY22 実績 FY23 P.Plan FY23 Plan YoY Change Change from previous plan Announced date (m/d/y) Aug/14/23 Nov/14/23 Change Change % Change Change % a b c c-a (c-a)/a c-b (c-b)/b Orders 815.2 763.0 790.0 -25.2 -3.1% +27.0 +3.5% Revenue 680.8 747.0 747.0 +66.1
Slide 18: Breakdown of Changes in Operating Profit
3. FY23 Forecast Breakdown of Changes in Operating Profit The company-wide operating profit forecast remains at 71.0 billion yen • Increase in revenue (+) • Increase in personnel expenses due to business expansion (-) Structural Reforms (1) Increase in technology development expenses to launch produ
Slide 19: 4. Topics
1. FY23 1-3Q Summary of Results 2. FY23 1-3Q Results by Segment 3. FY23 Forecast 4. Topics 5. Appendix 19 Copyright(c) Ebara Corporation, All rights reserved
Slide 20: Strengthening and Expanding Business in China
4. Topics Strengthening and Expanding Business in China As part of efforts to promote global expansion as stated in the basic policy of the E-Plan 2025, we established a regional headquarters company in China in August 2023. It will support sustainable business growth within China. Segment No. of co
Slide 21: 5. Appendix
1. FY23 1-3Q Summary of Results 2. FY23 1-3Q Results by Segment 3. FY23 Forecast 4. Topics 5. Appendix 21 Copyright(c) Ebara Corporation, All rights reserved
Slide 22: Orders
5. Appendix Orders Former Segments（〜FY22） New Segments FY22 FY22 FY23 (billions of yen) (billions of yen) 1-4Q Plan 1-4Q Plan 1Q 1-2Q 1-3Q 1-4Q 1Q 1-2Q 1-3Q 1-4Q 1Q 1-2Q 1-3Q Announced date (m/d/y) Announced date (m/d/y) Aug/14/23 Nov/14/23 Total 177.0 399.4 594.5 815.2 Total 177.0 399.4 594.5 815.2
Slide 23: Revenue
5. Appendix Revenue Former Segments（〜FY22） New Segments FY22 FY22 FY23 (billions of yen) (billions of yen) 1-4Q Plan 1-4Q Plan 1Q 1-2Q 1-3Q 1-4Q 1Q 1-2Q 1-3Q 1-4Q 1Q 1-2Q 1-3Q Announced date (m/d/y) Announced date (m/d/y) Aug/14/23 Nov/14/23 Total 152.8 312.4 480.0 680.8 Total 152.8 312.4 480.0 680.
Slide 24: Operating Profit
5. Appendix Operating Profit Former Segments（〜FY22） New Segments FY22 FY22 FY23 (billions of yen) (billions of yen) 1-4Q Plan 1-4Q Plan 1Q 1-2Q 1-3Q 1-4Q 1Q 1-2Q 1-3Q 1-4Q 1Q 1-2Q 1-3Q Announced date (m/d/y) Announced date (m/d/y) Aug/14/23 Nov/14/23 Total 14.1 27.1 42.6 70.5 Total 14.1 27.1 42.6 70
Slide 25: Backlog of Orders
5. Appendix Backlog of Orders Former Segments（〜FY22） New Segments FY22 FY22 FY23 (billions of yen) (billions of yen) 1-4Q Plan 1-4Q Plan 1Q 1-2Q 1-3Q 1-4Q 1Q 1-2Q 1-3Q 1-4Q 1Q 1-2Q 1-3Q Announced date (m/d/y) Announced date (m/d/y) Aug/14/23 Nov/14/23 Total 689.5 774.9 813.2 818.1 Total 689.5 774.9
Slide 26: Revenue by Region
5. Appendix Revenue by Region Former Segments（〜FY22） New Segments (billions of yen) FY22 FY23 (billions of yen) FY23 1Q 1-2Q 1-3Q 1-4Q 1Q 1-2Q 1-3Q 1Q 1-2Q 1-3Q FMS Business 87.6 179.2 270.2 383.3 109.4 215.2 318.6 Building Service & Industrial 53.0 106.5 161.8 Japan 38.5 67.4 93.2 132.2 44.7 76.6 1
Slide 27: Service & Support (S&S) Revenue
5. Appendix Service & Support (S&S) Revenue Former Segments（〜FY22） New Segments (billions of yen) FY22 FY23 (billions of yen) FY23 1Q 1-2Q 1-3Q 1-4Q 1Q 1-2Q 1-3Q 1Q 1-2Q 1-3Q S&S Revenue 33.7 64.0 91.8 136.4 43.9 83.4 118.6 S&S Revenue 10.8 21.7 31.5 FMS Business Building Service & Industrial S&S Ra
Slide 28: Balance Sheet
5. Appendix Balance Sheet (billions of yen) FY22 3Q FY22 4Q FY23 3Q Change Change a b c c-a c-b Total Assets 809.3 828.0 884.4 +75.0 +56.3 Current Assets 556.3 580.6 617.2 +60.8 +36.5 Cash and cash equivalents 130.6 116.1 142.1 +11.5 +26.0 Trade receivables 220.4 253.0 243.6 +23.1 -9.3 Inventories 1
Slide 29: Cash Flows
5. Appendix Cash Flows (billions of yen) 1-3Q 1-4Q FY22 FY23 Change FY22 FY23 Plan FY23 Plan YoY Change Change Announced date (m/d/y) Aug/14/23 Nov/14/23 a b b-a c d e e-c e-d CF from 23.3 48.2 24.9 37.0 55.0 55.0 +17.9 - operating activities CF from -32.2 -24.3 7.9 -38.3 -47.0 -40.0 -1.6 +7.0 inves
Slide 30: CAPEX, Depreciation and Amortization, R&D Expenses
5. Appendix CAPEX, Depreciation and Amortization, R&D Expenses (billions of yen) 1-3Q 1-4Q (billions of yen) 1-3Q 1-4Q FY22 FY22 FY23 Change FY23 Plan FY23 Plan Change Change Announced date (m/d/y) Announced date (m/d/y) Aug/14/23 Nov/14/23 a b c c-a d e e-b e-d CAPEX 19.2 27.5 CAPEX 24.8 +5.6 46.0
Slide 31: ESG Topics
5. Appendix ESG Topics E Environment Entered into an Agreement with Mizuho Bank, Ltd. for Mizuho Eco Finance S Social Publication of Multi-stakeholder Policy Declaration of Acceptance of the Japanese Stewardship Code as an Asset Owner of a Corporate Pension Plan Hiroshi Oeda, the Chairman of Board o
Slide 32: Change in Business Segments
5. Appendix Change in Business Segments ■ Effective January 1, 2023, we have reorganized our business segments from conventional product-based segments to segments based around target markets. (Reference) Former Segments New Segments Target Markets Main Products & Services Building Service & Buildin
Slide 33: Disclaimer
Disclaimer This release contains forward-looking statements which involve certain risks and uncertainties that could cause actual results to differ materially from those projected. Readers are cautioned not to place undue reliance on these forward-looking statements which are valid only as of the da