Fuji Oil Co. Ltd. · TSE:2607
Fuji Oil — FY2024 Earnings Presentation
24 slides from Fuji Oil's earnings presentation, May 19, 2025
Slide 1: Full-Year Financial Results Briefing for FY2024
May 19, 2025 Fuji Oil Company, Ltd. Full-Year Financial Results Briefing for FY2024 Shigeto Yamamoto, Representing Director, President Masayuki Tsuda, Director, Managing Executive Officer Note: This document has been translated from the Japanese original for reference purposes only. In the event of
Slide 2: Table of Contents
Table of Contents • Overview of Business Activities in FY2024 P3 • Review of Third Medium-Term Business Plan P5 • Shareholder Returns P9 • Full-Year Financial Results for FY2024 P11 • Full-Year Financial Results Forecast for FY2025 P17 Copyright © Fuji Oil Company, Ltd. All Rights Reserved. 2
Slide 3: Overview of Business Activities in FY2024
Overview of Business Activities in FY2024 Copyright © Fuji Oil Company, Ltd. All Rights Reserved. 3
Slide 4: Overview of Business Activities in FY2024
Overview of Business Activities in FY2024 Business environment (Dubai crude oil price and exchange rate) Dubai crude oil price Exchange rate (TTM) FY2023 Average FY2023 Average 100 165 US$82/bbl ¥145/US$ 160 FY2024 Average 90 US$79/bbl 155 150 80 145 70 140 135 FY2024 Average ¥153/US$ 60 130 4月 Apr.
Slide 5: Review of Third Medium-Term Business Plan
Review of Third Medium-Term Business Plan Copyright © Fuji Oil Company, Ltd. All Rights Reserved. 5
Slide 6: Review of Third Medium-Term Business Plan: Profit plan
Review of Third Medium-Term Business Plan Profit plan (consolidated) Medium-Term Actual results Business Plan From FY2021 to FY2023, profits at all levels (MTP) progressed steadily, supported by stable high (Unit: billion yen) 2021 2022 2023 2024 2024 utilization rates and rising crude oil prices.
Slide 7: Review of Third Medium-Term Business Plan: Financial plan
Review of Third Medium-Term Business Plan Financial plan (consolidated, cumulative FY2021-FY2024) FY2021 FY2022 FY2023 FY2024 4-year cumulative (Unit: billion yen) MTP Results MTP Results MTP Results MTP Results MTP Results Cash inflow 9.2 22.2 12.7 11.2 10.9 23.2 14.9 1.5 48.0 58.3 Profit after inc
Slide 8: Postponement of the formulation of Fourth Medium-Term Business Plan
Review of Third Medium-Term Business Plan Postponement of the formulation of Fourth Medium-Term Business Plan The Third Medium-Term Business Plan, which covered the four fiscal years from 2021 to 2024, was concluded in the fiscal year ended March 31, 2025. The Company is in the process of formul
Slide 9: Shareholder Returns
Shareholder Returns Copyright © Fuji Oil Company, Ltd. All Rights Reserved. 9
Slide 10: Shareholder Returns: Basic policy
Shareholder Returns Basic policy for shareholder returns Endeavor to maintain stable dividend payments to its shareholders while taking into consideration the Company’s financial results, cash position, etc., as well as necessary internal reserves for medium- and long-term business development In
Slide 11: Full-Year Financial Results for FY2024
Full-Year Financial Results for FY2024 Copyright © Fuji Oil Company, Ltd. All Rights Reserved. 11
Slide 12: Petroleum Product Sales Volume / Crude Oil Processing Volume
Petroleum Product Sales Volume / Crude Oil Processing Volume Compared to Compared to FY2024 Figures announced FY2023 previous forecast previous fiscal year (Unit: thousand kL) Full-year in February Full-year (%) (%) Gasoline 2,481 2,495 99% 2,243 111% Naphtha 432 413 105% 376 115% Kerosene 353 281 1
Slide 13: Overview of Full-Year Consolidated Financial Results for FY2024
Overview of Full-Year Consolidated Financial Results for FY2024 (Reference) FY2024 Figures announced FY2023 Changes Changes Full-year in February Full-year Crude oil price (US$/bbl) 79 78 +1 +1% 82 -4 Exchange rate (¥/US$) 153 152 +1 +0% 145 +8 (Unit: billion yen) Net sales 840.1 859.6 -19.4 -2% 723
Slide 14: Full-Year Operating Profit Variance for FY2024
Full-Year Operating Profit Variance for FY2024 Compared to previous forecast (Unit: billion yen) Effect of inventory valuation: Due to a sharp decline in crude oil prices and the yen 0.3 appreciation since March, the upward impact on cost of sales increased compared to the previous forecast, resul
Slide 15: Overview of Changes in Consolidated Balance Sheet
Overview of Changes in Consolidated Balance Sheet End of March, End of March, (Unit: billion yen) Changes Main factors that led to changes 2025 2024 Accounts receivable - trade: -5.8 Current assets 242.7 261.6 -18.9 Inventories: -10.5 Machinery, equipment, etc.: -3.6 Non-current assets 130.1 128.2 +
Slide 16: Status of Consolidated Cash Flows
Status of Consolidated Cash Flows FY2024 FY2023 (Unit: billion yen) Breakdown for full-year FY2024 Full-year Full-year Profit before income taxes (5.7) Cash flows from operating activities 31.4 7.4 Depreciation 7.2 Change in working 16.6 capital Purchase of property, Cash flows from investing activi
Slide 17: Full-Year Financial Results Forecast for FY2025
Full-Year Financial Results Forecast for FY2025 (Dubai crude oil price: US$65/bbl, Exchange rate: ¥145/US$) Copyright © Fuji Oil Company, Ltd. All Rights Reserved. 17
Slide 18: Forecast: Petroleum Product Sales Volume / Crude Oil Processing Volume
Forecast: Petroleum Product Sales Volume / Crude Oil Processing Volume FY2025 FY2024 Compared to previous fiscal (Unit: thousand kL) Full-year Full-year year (%) Gasoline 1,826 2,481 74% Naphtha 367 432 85% Kerosene 203 353 57% Jet fuel 833 984 85% Gas oil 1,593 2,037 78% Fuel oil A 254 202 125% Fue
Slide 19: Overview of Full-Year Consolidated Financial Results Forecast for FY2025
Overview of Full-Year Consolidated Financial Results Forecast for FY2025 FY2025 FY2024 Changes Full-year Full-year Crude oil price (US$/bbl) 65 79 -14 -17% Exchange rate (¥/US$) 145 153 -8 -5% (Unit: billion yen) Net sales 527.4 840.1 -312.7 -37% Operating profit (15.2) (5.5) -9.6 ―% Ordinary profit
Slide 20: FY2025 Forecast; Operating Profit Variance
Full-Year Financial Results Forecast for FY2025; Operating Profit Variance Compared to FY2024 (Unit: billion yen) (5.5) (4.1) 2.7 (15.2) FY2024 Effect of (8.3) Full-year inventory Product margin Refining costs, FY2025 valuation (volume x margin) etc. Full-year Effect of inventory valuation: The up
Slide 21: [Reference] Impact of Crude Oil Price and Exchange Rate Fluctuations
[Reference] Impact of Crude Oil Price and Exchange Rate Fluctuations on Profit/Loss Standard Effect on -800 million inventory yen valuation In-house fuel Crude oil price US$65 costs from +350 million For every US$1/bbl decrease petroleum yen pitch -450 million Total yen Effect on -350 million invent
Slide 22: [Reference] Explanation of Terms
[Reference] Explanation of Terms Effect of inventory valuation At Fuji Oil, the effect of inventory valuation due to the “gross average method” and the effect of inventory valuation due to the “lower of cost or market method” are collectively referred to as the “effect of inventory valuation”. The g
Slide 23: [Reference] Explanation of Terms
[Reference] Explanation of Terms Effect of inventory valuation due to the gross average method (example) Cost reduction effect of 25 Effect of inventory valuation 25 As crude oil prices rise... 100 100 75 50 Beginning Purchase Purchase unit inventory Cost of sales unit price price Average Cost incre
Slide 24: Inquiries
Inquiries Finance & Accounting Department Finance, IR & PR Group (Phone: +81-3-6277-2906) Copyright © Fuji Oil Company, Ltd. All Rights Reserved. 24