Tadano Ltd. · TSE:6395
Tadano — FY2021 Earnings Presentation
28 slides from Tadano's earnings presentation, May 2022
Slide 1: FY 2021 Financial Explanatory Briefing
FY 2021 Financial Explanatory Briefing May 2022 Tadano Ltd.
Slide 2: FY 2021 Results and FY 2022 Forecast
FY 2021 Results and FY 2022 Forecast 1
Slide 3: FY 2021 Results and FY 2022 Forecast
FY 2021 Results and FY 2022 Forecast FY 2021 Results: Net sales and operating income increased, first operating profit recorded during a full fiscal year since 2019. ・Secured target sales, despite production constraints centering on all terrain crane production. ・Success in North America and Ocean
Slide 4: Future Outlook
l/l TADANO Future Outlook
Slide 5: Demand Trends
Demand Trends ・Global demand recovered to pre-coronavirus disruption levels (CY 2018). ・Japan/North America/Europe/Middle East Demand: Not yet recovered to pre- coronavirus levels. ・Customers’ willingness to invest is favorable, but production constraints are weighing down a full recovery in demand.
Slide 6: Trends in Order Backlog
Trends in Order Backlog Order backlog is trending toward upward. Trends in order backlog (by monetary value) with October 2019 normalized to the value of 100 200 180 160 ・Strong investment willingness 140 ・Delivery delays due to production constraints 120 100 80 60 40 20 0 19/10 19/12 20/2 20/4 20
Slide 7: Production Situation, Procurement, Costs Increase
Production Situation Procurement ・Coronavirus disruption, Ukraine crisis, effect of China’s zero-Covid policy on greater supply chain: - Shortage of goods － Certain electric components, trucks - Shortage of manpower － Delays in delivery of supplied materials, logistics delays Led to temporary susp
Slide 8: Impact of Sanctions against Russia
Impact of Sanctions against Russia Suspended shipments of products and components to Russia and other related countries from March 4th, with resultant minor impact of about 1% on consolidated net sales. Shipment suspension will continue until international sanctions against Russia are lifted.
Slide 9: Initiatives for the Future
l/l TADANO Initiatives for the Future
Slide 10: One Tadano Initiatives
One Tadano Initiatives Harmonization under the Tadano brand Component commonization and modularization Unification of accounting period Revitalized organizational structure （Strengthened product segment and sales region alignments) 9
Slide 11: Progress in Restructuring of European Operations
Progress in Restructuring of European Operations Demand and orders are favorable compared to the restructuring plan assumptions. On the other hand, lower sales volume and reduced production efficiency due to production constraints and rising raw material prices were factors for reduced profits.
Slide 12: Toward Achieving Net Zero Carbon Emissions①
Toward Achieving Net Zero Carbon Emissions① Tadano Green Solutions ・Introduction of E-Pack into Japanese market following The Tadano Group’s efforts, as part of the greater society, to protect the global environment and achieve debut in Europe. the goal of making a net zero carbon world a reality.
Slide 13: Toward Achieving Net Zero Carbon Emissions②
Toward Achieving Net Zero Carbon Emissions② Solar power generating equipment and modal shift in transportation: Solar power generating Shift to marine transportation equipment on the roof by barges, etc. of Kozai Plant The Tadano Group expressed support for the recommendations of the Task Force
Slide 14: Pursuing Further Excellence for the World and the Future.
Pursuing Further Excellence for the World and the Future. 13
Slide 15: Appendix I Overview of FY 2021 Financial Results
AppendixⅠ Overview of FY 2021 Financial Results (cited from Consolidated Financial Results (Comprehensive) for FY 2021) 14
Slide 16: Key Points of FY 2021 Financial Results
Key Points of FY 2021 Financial Results First operating profit recorded during a full fiscal year since FY 2019. Profits related to restructuring of the European Operations and provision of allowance for losses related to violations of emission regulations were recorded respectively as extraordi
Slide 17: Income Statement
Income Statement Net sales increased and operating income increased due to positive effects from the restructuring efforts in the European Operations. (Unit: millions of yen) FY2020 FY2021 Increase/ Decrease Amount Percentage Amount Percentage Net sales 186,040 100% 205,661 100% 19,621 Cost of sal
Slide 18: Major Factors Leading to Change in Operating Income
Major Factors Leading to Change in Operating Income Operating income increased by ¥9.4 billion due to increase in sales volume, improvements in sales prices and expense reductions, among other factors. （Millions of yen） 6,000 1,247 5,251 700 4,000 1,600 -200 6,100 2,000 -4,196 0 -2,000 -4,000 -6,0
Slide 19: Balance Sheet
Balance Sheet Allowances for retirement benefits decreased due to restructuring efforts in the European Operations. Interest-bearing debt denominated in currencies other than Japanese yen increased in response to temporary working capital needs in Europe. Inventory turnover improved. (Unit: mi
Slide 20: Cash Flow
Cash Flow In addition to an increase in income before income tax, decreases in accounts receivable and inventories (continuing from last year) resulted in operating cash flow of ¥17 billion. (Unit: millions of yen) Increase/ FY2020 FY2021 Decrease Income before income taxes -12,358 16,200 28,558 D
Slide 21: Net Sales by Product
Net Sales by Product Mobile crane and “other” sales increased. Truck loader crane and aerial work platform sales decreased. （Millions of yen） Net Sales by Product (Unit: millions of yen) Increase/Decrease 250,000 FY2020 FY2021 Amount Percentage Mobile Cranes 109,430 130,461 21,030 19.2% 200,000
Slide 22: Net Sales by Destination
Net Sales by Destination Net sales increased in all regions except Latin America and Japan. (Unit: millions of yen) （Millions of yen） Net Sales by Destination Increase/Decrease 140,000 60% FY2020 FY2021 Amount Percentage Europe 27,631 30,487 2,856 10.3% 120,000 50% North America 35,001 45,999 10,9
Slide 23: Appendix II Overview of FY 2022 Forecast
AppendixⅡ Overview of FY 2022 Forecast (cited from Consolidated Financial Results (Comprehensive) for FY 2021) 22
Slide 24: Change of Accounting Period
Change of Accounting Period Tadano Ltd. will officially change from a March-end to a December-end accounting period (fiscal year-end date), pending approval at the Annual General Meeting of Shareholders scheduled to be held on June 24, 2022. For more detailed information, please refer to press relea
Slide 25: FY 2022 Business Performance Forecast
FY 2022 Business Performance Forecast (Unit: millions of yen) FY2021 FY2022 Reference: adjusted plan Percent （Irregular accounting period） 2022/4 – 2023/3 Change Amount Percentage Amount Percentage Amount Percentage Net Sales 205,661 100% 205,000 100% 235,000 100% 14.3% Operating income 5,251 2.6% 4
Slide 26: FY 2022 Forecast (Major Factors Leading to Change in Operating Income)
FY 2022 Forecast (Major Factors Leading to Change in Operating Income) *adjusted plan Against efforts to improve selling prices and increase sales, operating income is forecasted to increase by only ¥0.7 billion due to future-oriented investment costs and rising raw material prices. （Millions of y
Slide 27: FY 2022 Forecast (Net Sales by Product)
FY 2022 Forecast (Net Sales by Product) *adjusted plan (Unit: millions of yen) （Millions of yen） Net Sales by Product Increase/Decrease FY2022 FY2021 250,000 Forecast Amount Percentage Mobile Cranes 130,461 164,800 34,339 26.3% 200,000 Truck Loader 18,251 17,000 -1,251 -6.9% Cranes 150,000 Aerial Wo
Slide 28: FY 2022 Forecast (Net Sales by Destination)
FY 2022 Forecast (Net Sales by Destination) *adjusted plan (Unit: millions of yen) （Millions of yen） Net Sales by Destination Increase/Decrease 160,000 70% FY2022 FY2021 Forecast Amount Percentage 140,000 60% Europe 30,487 40,400 9,913 32.5% 120,000 50% North America 45,999 59,100 13,101 28.5% 100,0