Ulvac, Inc. · TSE:6728
Ulvac — Q3 FY2022 Earnings Presentation
21 slides from Ulvac's earnings presentation, May 12, 2023
Slide 1: Business Results: The Third Quarter of FY2022
ULVAC, Inc. Business Results The Third Quarter of FY2022 (July 2022 - March 2023) May 12, 2023 Securities Code:6728 Breakthrough 2022 © 2023 ULVAC, Inc. | Confidential and Proprietary Information 1
Slide 2: Disclaimer regarding forward-looking statements
Disclaimer regarding forward-looking statements Forward-looking statements of the company in this presentation are based on information that was available at the time these documents were prepared. There are several factors that directly or indirectly impact the company performance, such as the glob
Slide 3: Summary
Summary 1. No change in mid to long-term growth strategy (focusing development investment on growth areas such as semiconductor and electronics, targeting net sales of ¥300 billion or more, gross profit margin of 35% or more, and operating profit margin of 16% or more in FY6/2026) 2. Steady shift to
Slide 4: Revision of full-year forecast for FY2022
Revision of full-year forecast for FY2022 Net sales, operating profit and profit attributable to owners of the parent have been revised downwards due to the delay in sales contribution caused by the delayed timing of FPD and electronics orders, and the slowdown in semiconductor investment. Divid
Slide 5: Revised forecast of orders received (Quarterly)
Revised forecast of orders received (Quarterly) 3Q orders: FPD (¥12.5 billion), Electronics (¥8.0 billion), total of ¥20.5 billion declined temporarily due to postponement of investment from 3Q to 4Q. Orders for the full year are expected to be ¥10 billion lower than previously forecast due to t
Slide 6: Revised Sales Forecast (Quarterly)
Revised Sales Forecast (Quarterly) Expect ¥215.0 billion (- ¥15.0 billion) due to delayed sales contribution from FPD and electronics by the time lag of orders from 3Q to 4Q, and lower sales due to postponement of investments in semiconductor and FPD orders, etc. Net sales (Unit: ¥1 billion) Semic
Slide 7: Revision of Orders and Sales Forecasts
Revision of Orders and Sales Forecasts Orders: ¥250.0 billion ( -¥10.0 billion) due to slowdown in semiconductor investment, postponement of FPD investment, etc. Net sales: ¥215.0 billion (-¥15.0 billion) due to delayed sales contribution from FPD and electronics orders due to postponement of or
Slide 8: Business results for the third quarter of FY2022
Business results for the third quarter of FY2022 Orders decreased YoY due to the reactionary drop in FPD orders and the postponement of FPD and electronics projects scheduled for orders in 3Q to 4Q. Net sales and each profit (ratio) decreased YoY mainly due to decrease in orders received. Sales
Slide 9: Both orders and sales decreased YoY (semiconductor and electronics increased YoY)
Both orders and sales decreased YoY (semiconductor and electronics increased YoY) Orders received: Decreased YoY due to a decrease in materials and components in addition to a reactionary drop in FPDs Semiconductor and Electronics increased YoY mainly due to continued strong orders of power devi
Slide 10: Quarterly Profit Trends
Quarterly Profit Trends Gross profit margin: Profit margin declined due to lower sales Operating profit margin: Operating profit margin declined due to lower gross profit margin and higher SG&A expenses (R&D expenses). SG&A expenses to net sales ratio: 4.4% increase due to higher R&D expenses
Slide 11: Semiconductor & Electronics: Continued growth in the next fiscal year and beyond
Semiconductor & Electronics: Continued growth in the next fiscal year and beyond Slowdown in Memory investment (expected to recover in the second half of FY2023), while growth continues in logic, power devices, electronic devices, etc. Semiconductor & Electronics Orders by Sector Continued growth
Slide 12: FPDs: Growth in the battery business
FPDs: Growth in the battery business Investment for mass production of large-size OLED (G8.6~7) for IT panels will be postponed to the next fiscal year ⇒ Mass production investment will start in the next fiscal year and onwards Investment in battery Roll to Roll equipment has started ⇒ Full-scal
Slide 13: Shareholder Return
Shareholder Return Aiming to achieve further growth and increase dividends over the long term by strengthening development investment in growth areas We have positioned shareholder returns as one of our most important policies, and have steadily increased dividends For the current fiscal year, t
Slide 14: Appendix
Appendix © 2023 ULVAC, Inc. | Confidential and Proprietary Information Breakthrough 2022 14
Slide 15: Quarterly Business Results
Quarterly Business Results FY2021 FY2022 (Unit: ¥1 billion) YoY Q1 Q2 Q3 Q4 Q1 Q2 Q3 Amount % Orders Received 66.3 78.3 59.6 65.9 66.6 62.5 43.4 -16.2 -27% Net Sales 47.4 58.3 60.4 75.2 56.2 55.2 49.6 -10.8 -18% Gross Profit 13.2 18.9 18.6 23.0 16.5 16.8 14.7 -3.9 -21% Gross Profit Margin 27.9% 32.4
Slide 16: Orders received and net sales by segment (quarterly)
Orders received and net sales by segment (quarterly) Orders received (Unit: ¥1 billion) Net sales (Unit: ¥1 billion) Semiconductor & Electronics Device Semiconductor & Electronics Device Production Equipment Component Materials Production Equipment Component Materials FPD Production Equipment Indust
Slide 17: Consolidated Balance Sheet
Consolidated Balance Sheet Assets (Unit: ¥1 billion) Liabilities and Net Assets (Unit: ¥1 billion) Cash and deposits Notes and accounts payable,trade Notes and accounts receivable,trade Interest-bearing debt Inventories Other current liabilities Other current assets Other non-current liabilities Pro
Slide 18: New Organization of ULVAC (as of 1st July 2023)
New Organization of ULVAC (as of 1st July 2023) Adopting headquarters structure to unify the group (from R&D to CS) © 2023 ULVAC, Inc. | Confidential and Proprietary Information Breakthrough 2022 18
Slide 19: ULVAC's Value Creation: "Here & There, Near your side"
ULVAC’s Value Creation: “Here & There, Near your side” Wind Power SED AI SED Wind power AEED Artificial Intelligence(AI) Power device Semiconductor AEED High performance IED Electric parts Component battery for electricity Component Material Material Smart home SED Hospital SED Smart home AEED IoT A
Slide 20: Supporting the realization of a smart and digital society and green energy
Supporting the realization of a smart and digital society and green energy through technological innovation Smart and Digital Society Green Energy Conversion Realization Low Power Consumption Smart Society⇒Solving Social Problems Communicating Memory Logic IC Sensor Device Battery Miniaturization Hi
Slide 21: ULVAC Vacuum Technology Contributes to Many Industries and Applications
ULVAC Vacuum Technology Contributes to Many Industries and Applications © 2023 ULVAC, Inc. | Confidential and Proprietary Information Breakthrough 2022 21