Ebara Corporation · TSE:6361
Ebara — FY2022 Earnings Presentation
30 slides from Ebara's earnings presentation, Feb 14, 2023
Slide 1: Results Presentation for FY2022
Results Presentation for FY2022 Ended December 31, 2022 EBARA (6361) February 14, 2023
Slide 2: Table of Contents
Table of Contents Points of Results P3 4.Shareholder Returns 1. FY22 Summary of Results ・Forecast of Shareholder Returns P19 ・Consolidated P5 5. Appendix ・Segment P6 ・Orders P21 ・Breakdown of Changes in Operating Profit P7 ・Response to Changes in Business Environment P8 ・Revenue P22 ・Revenue by Regi
Slide 3: Points of Results
Points of Results FY22 Results FY23 Forecast YoY* Change Vs. Plan* YoY* ¥43.7 B. ¥31.7 B. ¥-27.2 B. Orders ¥815.2 B. +5.7% ↗ +4.0% → Orders ¥788.0 B. -3.3% → ¥77.6 B. ¥10.8 B. ¥72.1 B. Revenue ¥680.8 B. +12.9% ↗ +1.6% → Revenue ¥753.0 B. +10.6% ↗ Operating ¥9.1 B. ¥3.0 B. Operating ¥0.4 B. Profit ¥7
Slide 4: FY22 Summary of Results
1. FY22 1-4Q Summary of Results 2. FY22 1-4Q Results by Segment 3. FY23 Forecast 4. Shareholder Returns 5. Appendix 4 Copyright(c) Ebara Corporation, All rights reserved
Slide 5: Consolidated
1. FY22 1-4Q Summary of Results Consolidated (in billion yen) FY22 Plan FY21 1-4Q FY22 1-4Q Change Change % Change Change % Announced date(m/d/y) 22/11/14 a b b-a c b-c Orders 771.4 815.2 +43.7 +5.7% 783.5 +31.7 +4.0% Revenue 603.2 680.8 +77.6 +12.9% 670.0 +10.8 +1.6% Operating Profit 61.3 70.5 +9.1
Slide 6: Segment
1. FY22 1-4Q Summary of Results Segment (in billion yen) FY22 Plan FY21 1-4Q FY22 1-4Q Change Change % Change Change % Announced date(m/d/y) Nov/14/22 a b b-a c b-c Orders 771.4 815.2 +43.7 +5.7% 783.5 +31.7 +4.0% Revenue 603.2 680.8 +77.6 +12.9% 670.0 +10.8 +1.6% Total Operating Profit 61.3 70.5 +9
Slide 7: Breakdown of Changes in Operating Profit
1. FY22 1-4Q Summary of Results Breakdown of Changes in Operating Profit OP increase due to higher revenue and improved profitability more than offsetting higher fixed costs, as well as contribution of yen's depreciation Revenue increase in all three businesses • S&S increase in CT business and Prec
Slide 8: Response to Changes in Business Environment
1. FY22 1-4Q Summary of Results Response to Changes in Business Environment ◼ Minimize the impact on business performance by responding to risks caused by changes in the business environment ◼ Impact on full-year OP improved due to the success of price revisions and other measures compared to the fo
Slide 9: Revenue by Region
1. FY22 1-4Q Summary of Results Revenue by Region 253.8 Japan +2.6% 247.4 Middle Others 427.0 Overseas +20.0% East 4.3% 355.7 5.3% Japan 110.3 Europe China -1.0% 37.3% 111.3 8.4% Asia (excl. 137.1 North +12.7% China) 121.7 America FY22 1-4Q 8.5% Revenue North 57.6 +30.5% Compostions America 44.2 56.
Slide 10: FY22 Results by Segment
1. FY22 1-4Q Summary of Results 2. FY22 1-4Q Results by Segment 3. FY23 Forecast 4. Shareholder Returns 5. Appendix 10 Copyright(c) Ebara Corporation, All rights reserved
Slide 11: FMS Business
2. FY22 1-4Q Results by Segment FMS Business Results (in billion yen) Highlights Orders Revenue ◼ Standard pumps: Orders, revenue, and operating profit increased 383.3 in Japan and overseas market (+) FY21 FY22 354.8 406.4 336.9 Pumps ◼ Custom pumps: Orders, revenue, and operating profit increased 2
Slide 12: EP Business
2. FY22 1-4Q Results by Segment EP Business Results (in billion yen) Highlights Orders Revenue FY21 FY22 Orders ◼ Received three large orders in 4Q 129.4 119.6 105.8 76.8 73.7 61.6 46.2 52.2 71.8 Revenue ◼ Revenue from EPC* and O&M* increased (+) 36.4 50.0 28.5 16.3 21.6 31.3 19.4 ◼ Revenue increase
Slide 13: PM Business
2. FY22 1-4Q Results by Segment PM Business Results (in billion yen) Highlights Orders Revenue ◼ Capex in the semiconductor market remains at a 301.5 222.2 high level FY21 FY22 Orders 285.4 229.9 156.4 192.7 Some postponed orders due to the recent decline in 164.6 197.2 96.0 130.8 memory prices 68.9
Slide 14: FY23 Forecast
1. FY22 1-4Q Summary of Results 2. FY22 1-4Q Results by Segment 3. FY23 Forecast 4. Shareholder Returns 5. Appendix 14 Copyright(c) Ebara Corporation, All rights reserved
Slide 15: Consolidated
3. FY23 Forecast Consolidated 1-2Q 1-4Q (in billion yen) FY22 Results FY23 Plan Change Change % FY22 Results FY23 Plan Change Change % Announced date(m/d/y) Feb/14/23 Feb/14/23 a b b-a c d d-c Orders 399.4 405.5 +6.0 +1.5% 815.2 788.0 -27.2 -3.3% Revenue 312.4 383.5 +71.0 +22.8% 680.8 753.0 +72.1 +1
Slide 16: Segment
3. FY23 Forecast Segment 1-2Q 1-4Q (in billion yen) FY22 FY23 Plan Change Change % FY22 FY23 Plan Change Change % Announced date(m/d/y) Feb/14/23 Feb/14/23 a b b-a c d d-c Orders 399.4 405.5 +6.0 +1.5% 815.2 788.0 -27.2 -3.3% Revenue 312.4 383.5 +71.0 +22.8% 680.8 753.0 +72.1 +10.6% Total Operating
Slide 17: Breakdown of Changes in Operating Profit
3. FY23 Forecast Breakdown of Changes in Operating Profit Expect increased revenue in Precision Machinery and continuous profitability improvement from FY22. Meantime, in addition to up-front growth investments in each business to realize strategies by face-to-face market, we will aggressively execu
Slide 18: Shareholder Returns
1. FY22 1-4Q Summary of Results 2. FY22 1-4Q Results by Segment 3. FY23 Forecast 4. Shareholder Returns 5. Appendix 18 Copyright(c) Ebara Corporation, All rights reserved
Slide 19: Forecast of Shareholder Returns
4. Shareholder Returns Forecast of Shareholder Returns Dividend ◼ Aiming for a consolidated dividend payout ratio of 35% or higher in line with business Policy results for the fiscal year FY22 ◼ Plan to increase the year-end dividend from 85 yen to 108 yen and the annual Dividend dividend from 170 y
Slide 20: Appendix
1. FY22 1-4Q Summary of Results 2. FY22 1-4Q Results by Segment 3. FY23 Forecast 4. Shareholder Returns 5. Appendix 20 Copyright(c) Ebara Corporation, All rights reserved
Slide 21: Orders
5. Appendix Orders Former Segment（〜FY22） New Segment FY21 FY22 FY22 FY23 (in billion yen) 1-2Q Plan 1-4Q Plan 1Q 1-2Q 1-3Q 1-4Q 1Q 1-2Q 1-3Q 1-4Q 1-2Q 1-4Q Announced date(m/d/y) Feb/14/23 Feb/14/23 Total 159.4 344.9 576.8 771.4 177.0 399.4 594.5 815.2 Total 399.4 815.2 405.5 788.0 Building Service &
Slide 22: Revenue
5. Appendix Revenue Former Segment（〜FY22） New Segment FY21 FY22 FY22 FY23 (in billion yen) 1-2Q Plan 1-4Q Plan 1Q 1-2Q 1-3Q 1-4Q 1Q 1-2Q 1-3Q 1-4Q 1-2Q 1-4Q Announced date(m/d/y) Feb/14/23 Feb/14/23 Total 135.2 274.1 419.9 603.2 152.8 312.4 480.0 680.8 Total 312.4 680.8 383.5 753.0 Building Service
Slide 23: Operating Profit
5. Appendix Operating Profit Former Segment（〜FY22） New Segment FY21 FY22 FY22 FY23 (in billion yen) 1-2Q Plan 1-4Q Plan 1Q 1-2Q 1-3Q 1-4Q 1Q 1-2Q 1-3Q 1-4Q 1-2Q 1-4Q Announced date(m/d/y) Feb/14/23 Feb/14/23 Total 12.2 24.6 37.0 61.3 14.1 27.1 42.6 70.5 Total 27.1 70.5 37.2 71.0 Building Service & F
Slide 24: Backlog of Orders
5. Appendix Backlog of Orders Former Segment（〜FY22） New Segment FY21 FY22 FY22 FY23 (in billion yen) 1-2Q Plan 1-4Q Plan 1Q 1-2Q 1-3Q 1-4Q 1Q 1-2Q 1-3Q 1-4Q 1-2Q 1-4Q Announced date(m/d/y) Feb/14/23 Feb/14/23 Total 498.4 546.1 633.7 651.5 689.5 774.9 813.2 818.1 Total 774.9 818.1 840.1 853.1 Buildin
Slide 25: Revenue by Region
5. Appendix Revenue by Region (in billion yen) FY21 FY22 1Q 1-2Q 1-3Q 1-4Q 1Q 1-2Q 1-3Q 1-4Q FMS Business 81.9 162.8 237.8 336.9 87.6 179.2 270.2 383.3 Japan 41.6 67.1 93.2 126.6 38.5 67.4 93.2 132.2 Asia (excl. Japan) 23.1 49.5 80.3 116.4 22.1 51.3 81.1 113.1 North America 5.4 14.0 19.2 26.2 6.4 13
Slide 26: Balance Sheet
5. Appendix Balance Sheet (in billion yen) FY21 4Q FY22 4Q Change a b b-a Total Assets 719.7 828.0 +108.3 Current Assets 499.9 580.6 +80.7 Cash and cash equivalents 136.4 116.1 -20.3 Trade receivables 218.4 253.0 +34.5 Inventories 121.3 181.3 +59.9 Other Current Assets 23.6 30.2 +6.5 Non-current Ass
Slide 27: Cash Flows
5. Appendix Cash Flows (in billion yen) 1-4Q FY21 FY22 Change FY23 Plan YoY Change Announced date(m/d/y) Feb/14/23 a b b-a c c-b CF from 72.8 37.0 -35.7 50.0 +12.9 operating activities CF from -31.3 -38.3 -6.9 -57.0 -18.6 investing activities FCF 41.4 -1.2 -42.7 -7.0 -5.7 CF from -29.4 -23.7 +5.7 20
Slide 28: CAPEX, Depreciation and Amortization, R&D Expenses
5. Appendix CAPEX, Depreciation and Amortization, R&D Expenses (in billion yen) 1-4Q 1-4Q FY21 FY22 Change FY23 Plan Change Announced date(m/d/y) Feb/14/23 a b b-a c c-b CAPEX 22.7 27.5 +4.8 CAPEX 56.0 28.4 FMS Business 9.9 10.9 +1.0 Building Service & Industrial 9.0 EP Business 0.7 2.0 +1.2 Energy
Slide 29: Change in Business Segments
5. Appendix Change in Business Segments ■ Effective January 1, 2023, business segmentation is changed from product axis segment to face- to-face market axis segment Former Segments New Segments Target markets Building Service & Building and industrial Fluid Machinery & Industrial equipment Systems C
Slide 30: 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