Toyo Engineering Corporation · TSE:6330
Toyo Engineering — Q2 FY2018 Earnings Presentation
14 slides from Toyo Engineering's earnings presentation, Nov 8, 2018
Slide 1: Outline of Financial Results
Mission: Engineering for Sustainable Growth of the Global Community Vision: Global Leading Engineering Partner Values: Integrity, Creativity, Diversity, Learning, Team Second Quarter of Fiscal Year Ending March 2019 OUTLINE OF FINANCIAL RESULTS November 8, 2018 Toyo Engineering Corporation
Slide 2: Contents
Contents Page Performance Summary Versus Forecast for 2019/3 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 2019/3 11 -Reference- Historic
Slide 3: Performance Summary Versus Forecast for 2019/3
Performance Summary Versus Forecast for 2019/3 JPY billion Forecast 2018/9 Progress 2019/3 Net sales 147.8 300.0 49% Gross profit 8.3 *1 21.0 40% *1 Added revised costs of Gross profit margin 5.7% 7.0% ethylene project in USA SG&A expenses 7.5 *2 19.0 39% *2 Reduced costs incurred Operating income 0
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 JPY billion period of the previous year 2017/9 2018/9 Difference Net sales 180.9 147.8 (33.1) *4 Gross profit 12.1 8.3 (3.8) *4 Due to decrease in net sales, and declin
Slide 5: Net Sales
Net Sales JPY billion 2018/9 Net sales :JPY 147.8 billion China 2.1 Central and Others 3.5 South America Others 0.7 Pharmaceuticals etc., Petrochemicals 0.7 3.4 76.2 North America 1% Japan 2% 34.0 1% 21.4 Chemicals/ 2% 14％ 1% Fertilizers 12% Russia and 23% 17.0 Central Asia 1.0 1% Region Product 52%
Slide 6: Balance Sheet
Balance Sheet JPY billion Assets 2018/3 2018/9 Difference Liabilities and net assets 2018/3 2018/9 Difference Current assets 221.3 202.1 (19.2) Current liabilities 198.4 180.1 (18.3) Cash and deposits 111.0 87.6 (23.4) Short-term interest bearing debt 7.1 9.9 2.8 Marketable securities 1.0 0.9 (0.1)
Slide 7: Interest Bearing Debt Balance
Interest Bearing Debt Balance JPY billion 31.8 32.1 32.6 30.8 2017/3 2017/9 2018/3 2018/9 Interest bearing debt ratio Debt equity ratio (times) Net debt (JPY billon) 1.30 1.23 14.0% 12.2% 10.7% 10.0% 0.62 (65.9) (52.7) 0.59 (75.6) (90.8) 2017/3 2017/9 2018/3 2018/9 2017/3 2017/9 2018/3 2018/9 2017/3
Slide 8: Cash Flows
Cash Flows JPY billion 2016/4~2017/3 2017/4~9 2017/4~2018/3 2018/4~9 Operating activities 18.9 (25.1) (22.8) (23.5) Investing activities (16.6) 0.5 6.3 1.7 Financing activities (1.5) (0.0) (1.1) 1.6 Net increase/decrease (1.4) (24.5) (16.1) (21.1) in cash Free cash flow 2.3 (24.6) (16.4) (21.8) Cash
Slide 9: New Orders
New Orders JPY billion Region 309.3 Product 309.3 116.7 108.0 116.7 108.0 100.4 100.4 2017/3 2017/9 2018/3 2018/9 2017/3 2017/9 2018/3 2018/9 Japan 22.1 19.7 71.4 55.4 Petrochemicals 6.7 36.4 50.3 45.6 Southeast Asia 64.7 77.2 81.4 32.9 Oil & Gas 27.3 24.9 30.7 3.5 Southwest Asia, Power / Railways e
Slide 10: Backlog of Contracts
Backlog of Contracts JPY billion 492.6 492.6 Region 448.6 Product 448.6 404.9 381.1 404.9 381.1 2017/3 2017/9 2018/3 2018/9 2017/3 2017/9 2018/3 2018/9 Japan 61.2 39.0 64.1 98.1 Petrochemicals 249.4 189.7 147.4 110.9 Southeast Asia 230.3 220.5 142.6 102.6 Oil & Gas 6.8 24.4 24.1 16.9 Southwest Asia,
Slide 11: Forecast for 2019/3
Forecast for 2019/3 JPY billion No change from initial forecast as of May 15, 2018 2Q Forecast 2018/3 2018/9 2019/3 Net sales 335.6 147.8 300.0 Gross profit (12.5) 8.3 21.0 Gross profit margin -3.7% 5.7% 7.0% SG&A expenses 20.4 7.5 19.0 Operating income (32.9) 0.8 2.0 Operating income margin -9.8%
Slide 12: Reference: Historical Data
-Reference- Historical Data Forecast 2017/3 2017/9 2018/3 2018/9 2019/3 Net sales JPY billion 431.9 180.9 335.6 147.8 300.0 Gross profit JPY billion 15.9 12.1 (12.5) 8.3 21.0 Gross profit margin % 3.7% 6.7% -3.7% 5.7% 7.0% SG&A expenses JPY billion 17.9 10.2 20.4 7.5 19.0 Operating income JPY billio
Slide 13: Reference: Historical Data Chart
-Reference- Historical Data Chart JPY billion Net sales Gross profit Operating income 431.9 21.0 1.9 0.8 2.0 15.9 335.6 12.1 300.0 8.3 (2.0) 180.9 147.8 (12.5) (32.9) 2017/3 2017/9 2018/3 2018/9 2019/3 2017/3 2017/9 2018/3 2018/9 2019/3 2017/3 2017/9 2018/3 2018/9 2019/3 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