Toyo Engineering Corporation · TSE:6330
Toyo Engineering — Q2 FY2019 Earnings Presentation
14 slides from Toyo Engineering's earnings presentation, Nov 13, 2019
Slide 1: Outline of Financial Results
Second Quarter of Fiscal Year Ending March 2020 OUTLINE OF FINANCIAL RESULTS November 13, 2019 Toyo Engineering Corporation
Slide 2: Contents
Contents Page Performance Summary Versus Forecast for 2020/3 3 Versus the Same Period of the Previous Year 4 Net Sales 5 Financial Summary Balance Sheet 6 Interest Bearing Debt Balance 7 Cash Flows 8 New Orders New Orders 9 Backlog of Contracts 10 Forecast Forecast for 2020/3 11 -Reference- Historic
Slide 3: Performance Summary Versus Forecast for 2020/3
Performance Summary Versus Forecast for 2020/3 Forecast JPY billion 2019/9 Progress 2020/3 Net sales 112.6 240.0 47% Gross profit 10.5 21.5 49% Gross profit margin 9.4% 9.0% SG&A expenses 7.6 18.5 41% Operating income 2.8 3.0 93% Operating income margin 2.5% 1.3% Non-operating income and expenses (1
Slide 4: Performance Summary Versus the Same Period of the Previous Year
Performance Summary Versus the Same Period of the Previous Year Decrease in revenue but increase in profit compared with the same period JPY billion of the previous year 2018/9 2019/9 Difference Net sales 147.8 112.6 (35.2) Gross profit 8.3 10.5 2.2 Gross profit margin 5.7% 9.4% 3.7% SG&A expenses
Slide 5: Net Sales
Net Sales JPY billion Central and 2019/9 Net sales : JPY 112.6 billion South America China 1.2 0.5 Others 1.1 Others 3.4 North America Pharmaceuticals etc., Petrochemicals 2.0 Japan 2.7 3% 40.0 1%1% Russia and 2% 28.1 2% Central Asia 10% 1% 11.6 25% Chemicals/ Fertilizers 36% 38.0 34% Region Product
Slide 6: Balance Sheet
Balance Sheet JPY billion Assets 2019/3 2019/9 Difference Liabilities and net assets 2019/3 2019/9 Difference Current assets 212.7 187.4 (25.3) Current liabilities 178.4 154.2 (24.2) Cash and deposits 101.7 88.1 (13.6) Short-term interest bearing debt 13.4 18.1 4.7 Other current assets 16.3 17.7 1.4
Slide 7: Interest Bearing Debt Balance
Interest Bearing Debt Balance JPY billion 32.6 32.7 30.8 29.7 2018/3 2018/9 2019/3 2019/9 Interest bearing debt ratio Debt equity ratio (times) Net debt (JPY billon) 1.23 1.30 14.0% 14.2% 13.6% 12.2% 0.90 (52.7) (55.3) 0.79 (65.1) (75.6) 2018/3 2018/9 2019/3 2019/9 2018/3 2018/9 2019/3 2019/9 2018/3
Slide 8: Cash Flows
Cash Flows JPY billion 2017/4~2018/3 2018/4~9 2018/4~2019/3 2019/4~9 Operating activities (22.8) (23.5) (25.8) (14.4) Investing activities 6.3 1.7 1.3 6.6 Financing activities (1.1) 1.6 16.7 (3.9) Net increase/decrease (16.1) (21.1) (8.6) (12.7) in cash Free cash flow (16.4) (21.8) (24.4) (7.7) Cash
Slide 9: New Orders
New Orders JPY billion Region 309.3 Product 309.3 298.0 298.0 100.4 100.4 55.5 55.5 2018/3 2018/9 2019/3 2019/9 2018/3 2018/9 2019/3 2019/9 Japan 71.4 55.4 121.9 20.6 Petrochemicals 50.3 45.6 172.3 7.6 Southeast Asia 81.4 32.9 67.8 3.4 Oil & Gas 30.7 3.5 18.5 25.1 Southwest Asia, Power / Railways et
Slide 10: Backlog of Contracts
Backlog of Contracts JPY billion Region 448.6 Product 448.6 426.3 426.3 381.1 367.8 381.1 367.8 2018/3 2018/9 2019/3 2019/9 2018/3 2018/9 2019/3 2019/9 Japan 64.1 98.1 135.9 128.4 Petrochemicals 147.4 110.9 169.9 137.4 Southeast Asia 142.6 102.6 75.4 50.6 Oil & Gas 24.1 16.9 23.6 40.2 Southwest Asia
Slide 11: Forecast for 2020/3
Forecast for 2020/3 JPY billion No change from initial forecast as of May 15, 2019 2Q Forecast 2019/3 2019/9 2020/3 Net sales 294.9 112.6 240.0 Gross profit 10.6 10.5 21.5 Gross profit margin 3.6% 9.4% 9.0% SG&A expenses 16.2 7.6 18.5 Operating income (5.6) 2.8 3.0 Operating income margin -1.9% 2.
Slide 12: Reference: Historical Data
-Reference- Historical Data 2020/3 2018/3 2018/9 2019/3 2019/9 Forecast Net sales JPY billion 335.6 147.8 294.9 112.6 240.0 Gross profit JPY billion (12.5) 8.3 10.6 10.5 21.5 Gross profit margin % -3.7% 5.7% 3.6% 9.4% 9.0% SG&A expenses JPY billion 20.4 7.5 16.2 7.6 18.5 Operating income JPY billion
Slide 13: Reference: Historical Data Chart
-Reference- Historical Data Chart JPY billion Net sales Gross profit Operating income 335.6 21.5 0.8 2.8 3.0 294.9 240.0 10.6 10.5 8.3 (5.6) 147.8 112.6 (12.5) (32.9) 2018/3 2018/9 2019/3 2019/9 2020/3 2018/3 2018/9 2019/3 2019/9 2020/3 2018/3 2018/9 2019/3 2019/9 2020/3 Forecast Forecast Forecast O
Slide 14: Toyo Engineering Corporation
Toyo Engineering Corporation URL https://www.toyo-eng.com For further questions on this material, please contact: Wataru IIDA General Manager Corporate Communications Department 2-8-1 Akanehama, Narashino, Chiba, Japan 275-0024 TEL +81-47-454-1681 E-mail ir@toyo-eng.com The forecasts given above are