Horiba, Ltd. · TSE:6856
Horiba — Q3 2024 Earnings Presentation
13 slides from Horiba's earnings presentation, Nov 26, 2024
Slide 1: Financial Information
Financial Information HORIBA, Ltd. November, 2024 © 2024 HORIBA, Ltd. All rights reserved.
Slide 2: Contents
Contents ◼ 2024 3Q (Jan.- Sep.) Results ◼ 2024 Forecasts ◼ Operating Profit Analysis ◼ Exchange Rate Impact ◼ CAPEX, Depreciation, R&D Expenses ◼ Shareholder Return © 2024 HORIBA, Ltd. All rights reserved. 2
Slide 3: 2024 3Q (Jan.- Sep.) Results
2024 3Q (Jan.- Sep.) Results （Billions of yen） 3Q results were record-high, except net income attributable to HORIBA, Ltd.’s shareholder which decreased by the gain on the sale of shares of subsidiaries in previous year and the impairment loss recognized in this quarter. 2023 2024 Changes 9 Months 9
Slide 4: 2024 3Q (Jan.- Sep.) Results by Segment
2024 3Q (Jan.- Sep.) Results by Segment （Billions of yen） Sales Operating profit 2023 2024 Changes 2023 2024 Changes 9 Months 9 Months 9 Months 9 Months Results Results vs 2023 % Results Results vs 2023 % (Jan.-Sep.) (Jan.-Sep.) (Jan.-Sep.) (Jan.-Sep.) Auto 48.1 56.4 +8.3 +17.3% -2.7 -2.1 +0.6 - P&E
Slide 5: 2024 Forecasts
2024 Forecasts （Billions of yen） Sales, operating profit, and ordinary profit reach record highs, despite downward revisions in both sales and profit forecasts. 2023 2024 Changes Previous Forecasts vs Previous Results Forecasts vs 2023 (as of Nov. 13) Forecasts (as of Aug. 8) Sales 290.5 321.0 318.0
Slide 6: 2024 Forecasts by Segment
2024 Forecasts by Segment （Billions of yen） Sales Operating profit 2023 2024 Changes 2023 2024 Changes Previous Previous Forecasts vs Previous Forecasts vs Previous Results Forecasts vs 2023 Results Forecasts vs 2023 (as of Nov. 13) Forecasts (as of Nov. 13) Forecasts (as of Aug. 8) (as of Aug. 8) A
Slide 7: Outlook for FY2024 Forecasts
Outlook for FY2024 Forecasts Margin erosion in FC/Battery business in responding to the needs for diversified and advanced Automotive specifications, as well as delays in building an operational structure in HORIBA FuelCon. EMS business is benefiting from a return of investment in ICE* as tailwind.
Slide 8: MCT (FC/Battery) Business Situation
MCT (FC/Battery) Business Situation ◼ Expanding operating loss Recognized impairment loss (¥1.3bn) ✓ Margin eroded while responding to the needs for diversified and advanced specifications of products. ✓ Considered the forecasted operating loss, which has continuously ✓ Recognized additional cost du
Slide 9: Operating Profit Analysis (vs 2023 Jan. – Sep.)
Operating Profit Analysis (vs 2023 Jan. – Sep.)（Billions of yen） 2023 2024 Jan. – Sep. Jan. – Sep. Exchange Exchange Increase Increase Increase Increase Impact for Impact for R&D Other 28.49 Sales COGS Gross Profit Expenses Expenses Expenses 29.90 +2.02 -0.29 +6.77 -2.95 -1.36 -2.78 Increase Exchang
Slide 10: Exchange Rate Trend / Forecasts / Impacts
Exchange Rate Trend / Forecasts / Impacts 2023 2024 Previous Actual vs 2023 Annual Forecasts Forecasts (as of Nov. 13) (Annual) (as of Aug. 8) Jan. - Sep. USD 140.67 145 151.46 150 +9.33 EUR 152.11 160 164.56 165 +12.89 Exchange rate impact Exchange rate impact for 2024 Jan. – Sep. for 2024 Forecast
Slide 11: Capital Investment, Depreciation, R&D
Capital Investment, Depreciation, R&D （Billions of yen） 2023 2024 2024 Previous vs Forecasts vs Actual Actual Forecasts Previous (as of Nov. 13) 2023 Jan.-Sep. (as of Aug. 8) Forecasts Capex 9.1 23.0 23.0 +13.8 - 9.8 Depreciation and amortization 12.6 14.0 14.0 +1.3 - 9.8 R&D expenses 20.4 22.6 23.0
Slide 12: Shareholder Return
Shareholder Return • Dividend payment = 30% of Consolidated net income attributable to HORIBA, Ltd.’s shareholders to be targeted Basic Policy • Execute special dividend and share buybacks timely and properly, considering investment opportunities and the cash flow situation. Dividends per share ⚫ 20
Slide 13: © 2024 HORIBA, Ltd. All rights reserved.
© 2024 HORIBA, Ltd. All rights reserved.