Daifuku Co., Ltd. · TSE:6383
Daifuku — FY2018 Earnings Presentation
24 slides from Daifuku's earnings presentation, May 10, 2019
Slide 1: Consolidated Financial Results Fiscal Year Ended March 31, 2019
Consolidated Financial Results Fiscal Year Ended March 31, 2019 (April 1, 2018 - March 31, 2019) May 10, 2019 DAIFUKU CO., LTD.
Slide 2: Fiscal 2018 Overview (April 1, 2018 - March 31, 2019)
Fiscal 2018 Overview (April 1, 2018 - March 31, 2019) 1 Net sales Operating income Operating margin Record-high ✓ Net sales, operating income, and 11.9% operating margin achieved new 11.0% 9.9% record highs. 5.6% 7.2% 5.2% 6.2% (Billion yen) ✓ Achieved the management targets 4.0% (420 billion yen in
Slide 3: Highlights
Highlights 2 1. Record-high results 3. Capital efficiency and shareholder return increased – Orders, sales and profits reached new – ROE: 17.7% → 19.5% record highs. – Dividend: 70 yen → 90 yen – Achieved the targets set out in the medium-term business plan. 2. Reinforcing production framework 4. Co
Slide 4: FY2018 Consolidated Results
FY2018 Consolidated Results 3 (Billion yen) FY2018 forecast FY2018 FY2017 Year-on-year revised on results February 8 ✓ Orders exceeded 500 billion yen Orders 487.97 515.0 503.39 3.2% for the first time. ✓ Each income item increased by Net sales 404.92 460.0 459.48 13.5% more than 30% year on year. O
Slide 5: FY2018 Results by Segment
FY2018 Results by Segment 4 (Billion yen) Orders Net sales Segment income (Net income attributable to (Orders from outside customers) (Sales to outside customers) shareholders of the parent company) FY2017 FY2018 FY2017 FY2018 FY2017 FY2018 ✓ Daifuku: Daifuku 215.93 231.48 186.98 202.52 25.20 33.76
Slide 6: Consolidated Balance Sheets
Consolidated Balance Sheets 5 (Billion yen) ✓ Current assets: FY2017 FY2018 Change FY2017 FY2018 Change Increased by 36.9 billion yen [Main factors] Current assets 286.08 326.23 40.15 Current liabilities 148.78 155.96 7.17 Increases of 28.7 billion yen in notes Cash on hand Notes and and accounts re
Slide 7: Consolidated Statements of Cash Flows
Consolidated Statements of Cash Flows 6 (Billion yen) ✓ Cash provided by operating activities: 8.5 billion yen FY2017 FY2018 Change [Main factors] Income before income taxes and minority interests: 55.3 billion yen Cash flows from operating activities 11.49 8.55 -2.93 Increase of notes and accounts
Slide 8: Orders and Sales by Industry (Consolidated)
Orders and Sales by Industry (Consolidated) 7 (Billion yen) Orders Sales FY2017 FY2018 FY2017 FY2018 Industry Orders Composition Orders Composition Sales Composition Sales Composition ✓ Orders from the transportation Automobile, auto parts 70.18 14.4% 68.75 13.7% 73.55 18.2% 68.67 14.9% and warehous
Slide 9: Orders by Region (Consolidated)
Orders by Region (Consolidated) 8 (Billion yen) 70% 67% 66% 65% 17.1 21.8 10.9 14.2 Ratio to net orders 21.6 11.0 182.2 Other 7.2 207.3 11.5 Europe 116.4 127.7 Asia 111.0 North America 107.1 90.3 90.4 Japan Ratio to net orders 145.3 174.0 119.5 120.0 FY2015 FY2016 FY2017 FY2018 Non-Japan Total 239.9
Slide 10: Orders by Region (Consolidated)
Orders by Region (Consolidated) 9 (Billion yen) FY2015 FY2016 FY2017 FY2018 Region Orders Composition Orders Composition Orders Composition Orders Composition ✓ Orders in Japan increased Japan 119.51 33.3% 120.03 33.7% 145.37 29.8% 174.01 34.6% significantly. Non-Japan 239.91 66.7% 236.48 66.3% 342.
Slide 11: Sales by Region (Consolidated)
Sales by Region (Consolidated) 10 (Billion yen) 72% 66% 65% 67% 15.2 16.7 12.8 Ratio to net sales 9.6 19.0 17.9 Other 204.6 9.9 8.5 150.5 Europe 109.7 107.0 Asia North America 95.5 99.1 83.1 76.6 Japan Ratio to net sales 114.2 110.6 132.4 127.6 FY2015 FY2016 FY2017 FY2018 Non-Japan Total 221.9 210.1
Slide 12: Sales by Region (Consolidated)
Sales by Region (Consolidated) 11 (Billion yen) FY2015 FY2016 FY2017 FY2018 Region Sales Composition Sales Composition Sales Composition Sales Composition Japan 114.21 34.0% 110.67 34.5% 132.46 32.7% 127.60 27.8% ✓ The non-Japan sales ratio to total sales reached 72%, exceeding the Non-Japan 221.96
Slide 13: Service Sales (Consolidated)
Service Sales (Consolidated) 12 (Billion yen) %: Ratio to net sales 27% 28% 25% ✓ Service sales continued to exceed 23% 100 billion yen. ✓ The ratio of service sales to net sales is declining due to an increase in net sales. 101.0 107.9 92.3 89.4 FY2015 FY2016 FY2017 FY2018 Note: Sales in the servic
Slide 14: Quarterly Orders and Sales (Consolidated)
Quarterly Orders and Sales (Consolidated) 13 (Billion yen) Orders 148.5 140.6 Sales 129.1 128.7 ✓ Along with strong orders, 120.8 119.9 112.4 109.4 112.7 quarterly orders and sales have 103.1 118.1 128.8 exceeded 100 billion yen since Q2. 93.2 99.8 85.0 108.0 113.4 83.5 83.2 104.8 99.0 100.4 74.0 77
Slide 15: Order Backlogs (Consolidated)
Order Backlogs (Consolidated) 14 (Billion yen) 373.6 358.4 358.5 346.4 ✓ The backlog at the end of FY2018 326.8 314.5 314.0 remained at 358.4 billion yen, an 294.9 increase of 43.9 billion yen year on 231.4 year. 225.4 218.5 216.7 197.2 195.7 192.3 182.4 ✓ FY2019 sales are expected to remain high, b
Slide 16: FY2019 Forecast (Consolidated)
FY2019 Forecast (Consolidated) 15 (Billion yen) Year-on- Year-on- FY2018 H1 FY2019 H1 year FY2018 FY2019 year ✓ The environment for orders is Orders 269.83 280.0 3.8% 503.39 530.0 5.3％ expected to support sustainable growth. Net sales 210.71 230.0 9.2% 459.48 480.0 4.5% ✓ Strengthening of production
Slide 17: Dividends
Dividends 16 Increase of dividends for the sixth consecutive fiscal year, by 20 yen from the previous year Daifuku has decided to pay a FY2018 annual dividend of 90 yen, an increase of 5 yen, based on a dividend policy that targets a consolidated payout ratio of 30%. The FY2019 annual dividend is pl
Slide 18: Liabilities, Expenses, Employees (Consolidated)
Liabilities, Expenses, Employees (Consolidated) 17 Interest-bearing liabilities (Billion yen) FY2015 FY2016 FY2017 FY2018 Short-term 8.7 21.6 19.9 19.4 ✓ A stronger financial structure with Long-term 32.2 18.1 18.0 20.5 a D/E ratio below 0.2. Total 40.9 39.7 37.9 40.0 ✓ The number of employees D/E r
Slide 19: Financial Standing (Consolidated)
Financial Standing (Consolidated) 18 ✓ CAPEX of 16.7 billion yen is planned for FY2019. ✓ Depreciation has remained mostly at the Production capacity is projected to strengthen same level. around the world. (Billion yen) (Billion yen) Capital investment R&D expenses Ratio to net sales Depreciation &
Slide 20: Financial Strategy
Financial Strategy 19 (Billion yen) Common stock Net assets D/E ratio ROE 19.5% 17.7% ✓ ROE: Secure 10% or higher 222.8 (current medium-term 12.6% business plan target) 11.6% 191.4 9.6% 8.6% ✓ Daifuku’s corporate credit 142.3 rating upgraded: 130.1 In October 2017, the rating 0.60 times 0.56 times w
Slide 21: Factors for Increasing ROE
Factors for Increasing ROE 20 FY2015 FY2016 FY2017 FY2018 ✓ ROE remains 10% or higher. ROE *1 11.6% 12.6% 17.7% 19.5% ✓ Driven mainly by an improved return on sales (profitability). 1) Return on sales 4.06% 5.22% 7.16% 8.61% 2) Total asset turnover (times) 1.19 1.07 1.20 1.17 3) Financial leverage (
Slide 22: Topics: Daifuku Assents to the TCFD Recommendations
Topics 21 Daifuku Assents to the TCFD* Recommendations Daifuku has established the Environmental Enhancement Management Committee to develop and promote environmental management strategies aimed at achieving a decarbonized society and the sustainable development goals (SDGs). On May 10, as part of t
Slide 23: Topics: Daifuku acquires India's material handling system manufacturer
Topics 22 Daifuku acquires India’s material handling system manufacturer to strengthen a localized framework Daifuku completed its acquisition of India-based Vega Conveyors and Automation Private Limited, a material handling system manufacturer, in April 2019. With the robust growth of the Indian ec
Slide 24: Cautionary Statement with Respect to Forward-Looking Statements
Cautionary Statement with Respect to Forward-Looking Statements The strategies, beliefs and plans related to future business performance as described in this document are not established facts. They are business prospects based on the assumptions and beliefs of the management team judging from the m