Ebara Corporation · TSE:6361
Ebara — Q1 2025 Earnings Presentation
43 slides from Ebara's earnings presentation, May 15, 2025
Slide 1: Results Presentation for Three Months Ended March 31, 2025
Results Presentation for Three Months Ended March 31, 2025 EBARA (6361) May 15, 2025
Slide 2: Table of Contents
Table of Contents Key Points of Results P3 4. Upcoming Management Policy P22 1. FY25 1Q Summary of Results ・Consolidated P5 5. Appendix ・Segment P6 ・Consolidated Forecast P33 ・Breakdown of Changes in Operating Profit P7 ・Orders P34 ・Revenue by Region P8 ・Revenue P35 2. FY25 1Q Results by Segment ・Op
Slide 3: Key Points of Results
Key Points of Results FY25 1Q Results FY25 Forecast Results YoY Current Plan YoY Change vs. Prior Plan* ¥8.2 B. ¥79.4 B. - Orders ¥199.8 B. +4.3% → Orders ¥940.0 B. +9.2% ↗ - → ¥18.8 B. ¥33.3 B. - Revenue ¥212.6 B. +9.7% ↗ Revenue ¥900.0 B. +3.8% → - → ¥3.3 B. ¥3.5 B. - Operating Profit ¥22.6 B. +17
Slide 4: 1. FY25 1Q Summary of Results
1. FY25 1Q Summary of Results 2. FY25 1Q Results by Segment 3. FY25 Forecast 4. Upcoming Management Policy 5. Appendix 4 Copyright(c) Ebara Corporation, All rights reserved
Slide 5: Consolidated
1. FY25 1Q Summary of Results Consolidated (billions of yen) FY24 1Q Results FY25 1Q Results Change Change % a b b-a (b-a)/a Orders 191.6 199.8 +8.2 +4.3% Revenue 193.8 212.6 +18.8 +9.7% Operating Profit 19.2 22.6 +3.3 +17.1% OP Ratio 10.0% 10.6% +0.6pts Profit Attributable to Owners of Parent 14.6
Slide 6: Segment
1. FY25 1Q Summary of Results Segment (billions of yen) FY24 1Q Results FY25 1Q Results Change Change % a b b-a (b-a)/a Orders 191.6 199.8 +8.2 +4.3% Revenue 193.8 212.6 +18.8 +9.7% Total Operating Profit 19.2 22.6 +3.3 +17.1% OP Ratio 10.0% 10.6% +0.6pts Orders 58.1 59.7 +1.6 +2.8% Building Service
Slide 7: Breakdown of Changes in Operating Profit
1. FY25 1Q Summary of Results Breakdown of Changes in Operating Profit Revenue growth outpaced increases in fixed costs, resulting in higher profits Increased labor costs due to base pay raises, etc. (-) (billions of yen) Negative impact of the absence of last year’s one-time gain from Increased in
Slide 8: Revenue by Region
1. FY25 1Q Summary of Results Revenue by Region 84.1 Japan 79.8 +5.3% 128.5 +12.8% Overseas 113.9 31.7 China -8.0% Others 34.4 Middle East 4% Europe 6% 32.7 Japan Taiwan, Korea and 22.7 +44.2% 6% 40% other Asia 30.4 North FY25 1Q North America 24.8 +22.5% America Revenue Composition 14% 12.8 Domesti
Slide 9: 2. FY25 1Q Results by Segment
1. FY25 1Q Summary of Results 2. FY25 1Q Results by Segment 3. FY25 Forecast 4. Upcoming Management Policy 5. Appendix 9 Copyright(c) Ebara Corporation, All rights reserved
Slide 10: Building Service & Industrial
2. FY25 1Q Results by Segment Building Service & Industrial Results (Billions of yen) Key Changes (vs. FY24 1Q) Orders Revenue Market ◼ While GDP growth is showing signs of recovery in the Middle FY24 FY25 250.0 Environment East, Japan, and South America, other regions remain sluggish 255.0 184.5 24
Slide 11: Energy
2. FY25 1Q Results by Segment Energy Results (Billions of yen) Key Changes (vs. FY24 1Q) Orders Revenue Market ◼ Project activity continues in North America, Asia, and the FY24 FY25 222.7 210.0 Environment Middle East, though some customers are postponing 210.4 200.0 investment decisions 166.2 166.2
Slide 12: Infrastructure
2. FY25 1Q Results by Segment Infrastructure Results (Billions of yen) Key Changes (vs. FY24 1Q) Orders Revenue Market ◼ Domestic public pump market remains steady FY24 FY25 60.5 58.0 Environment ◼ Investment in advanced disaster prevention, and aging 56.0 51.1 measures in line with the "Five-Year A
Slide 13: Environmental Solutions
2. FY25 1Q Results by Segment Environmental Solutions Results (Billions of yen) Key Changes (vs. FY24 1Q) Orders Revenue Market ◼ Demand in Japan for new construction of waste treatment plants FY24 FY25 Environment for public use remains stable 97.0 87.4 90.0 63.0 63.1 63.1 71.5 59.259.2 ◼ Progress
Slide 14: Precision Machinery
2. FY25 1Q Results by Segment Precision Machinery Results (Billions of yen) Key Changes (vs. FY24 1Q) Orders Revenue Market ◼ Demand related to generative AI continues to grow, and customer factory utilization rates are showing signs of recovery. FY24 FY25 Environment 320.0 300.0 However, the pace o
Slide 15: Precision Machinery Quarterly Trends
2. FY25 1Q Results by Segment Precision Machinery Quarterly Trends Orders (Billions of yen) Precision Machinery Components CMP Systems 76.0 73.9 68.1 66.1 61.5 54.3 45.6 40.3 41.8 38.2 30.6 29.0 28.6 28.3 22.4 24.0 25.8 21.0 1Q 2Q 3Q 4Q 1Q 2Q Plan 1Q 2Q 3Q 4Q 1Q 2Q Plan 1Q 2Q 3Q 4Q 1Q 2Q Plan FY24 F
Slide 16: 3. FY25 Forecast
1. FY25 1Q Summary of Results 2. FY25 1Q Results by Segment 3. FY25 Forecast 4. Upcoming Management Policy 5. Appendix 16 Copyright(c) Ebara Corporation, All rights reserved
Slide 17: Segment-Specific Business Environment Overview
3. FY25 Forecast Segment-Specific Business Environment Overview Primary Target EBARA’s Market Outlook Segment Trends by Market and Region Markets FY25（1-year period） • Europe: Capital investment will remain sluggish due to rising construction and labor costs • China: While the building equipment and
Slide 18: Consolidated
3. FY25 Forecast Consolidated Consolidated full-year and 1H forecasts remain unchanged. Minor adjustments were made to the forecast for certain segments in 1H 1-4Q 1-2Q (billions of yen) FY24 Results FY25 Plan Change Change % FY24 Results FY25 Plan YoY Change Announced date (m/d/y) May/15/25 May/15/
Slide 19: Segment
3. FY25 Forecast Segment 1-4Q 1-2Q (billions of yen) FY24 Results FY25 Plan Change Change % FY24 Results FY25 P.Plan FY25 Plan YoY Change Change from prior plan Announced date (m/d/y) May/15/25 Feb/14/25 May/15/25 Change Change % Change Change % a b b-a (b-a)/a c d e e-c (e-c)/c e-d (e-d)/d Orders 8
Slide 20: Breakdown of Changes in Operating Profit
3. FY25 Forecast Breakdown of Changes in Operating Profit We anticipate achieving record-high operating profit while strategically advancing growth and infrastructure investments (billions of yen) 1. Improved profitability due to 1. Revenue Growth (+) increased S&S ratio (+) • Continued strong deman
Slide 21: Impact of U.S. Tariff Policies (as of End of April 2025)
3. FY25 Forecast Impact of U.S. Tariff Policies (as of End of April 2025) ◼ We have made progress in regional production for regional consumption across our global sites, resulting in limited impact on exports to the U.S.. However, future policy changes could introduce new impact, and we will contin
Slide 22: 4. Upcoming Management Policy
1. FY25 1Q Summary of Results 2. FY25 1Q Results by Segment 3. FY25 Forecast 4. Upcoming Management Policy 5. Appendix 22 Copyright(c) Ebara Corporation, All rights reserved
Slide 23: Revenue Composition of the EBARA Group
4. Upcoming Management Policy Revenue Composition of the EBARA Group ◼ We have operations in 41 countries/regions worldwide. Overseas revenue now accounts for over 60% of consolidated revenue, and the importance of global business expansion continues to grow across all segments ◼ Each business segme
Slide 24: Evolution of EBARA Group’s Corporate Value
4. Upcoming Management Policy Evolution of EBARA Group’s Corporate Value ◼ Significant improvement across key management indicators, including market capitalization, revenue, operating profit, ROE, ROIC, etc. EBARA’s Corporate Value Revenue Market Capitalization ¥800 B. ¥1.1 T. Market Revenue capita
Slide 25: Key Management Issues
4. Upcoming Management Policy Key Management Issues ◼ Due to our transition to a customer-focused organizational structure based on target markets, each segment has improved its earning power. However, we have identified some issues that remain from a company-wide perspective Identified Issues ➢ Ach
Slide 26: Comparison with Global Benchmarks
4. Upcoming Management Policy Comparison with Global Benchmarks ◼ While our business scale, profitability, and capital efficiency have significantly improved, there remains a considerable gap across key metrics compared to one of our benchmark companies (a leading global industrial equipment manufac
Slide 27: Basic Management Policy
4. Upcoming Management Policy Basic Management Policy ◼ As we expand our business globally, we aim not for local optimization in individual regions, but for overall optimization as an integrated corporate group—pursuing global operational excellence 1) Pursue Global Operational Excellence ➢ Achieve
Slide 28: Business Portfolio Management Three Strategic Pillars
4. Upcoming Management Policy Business Portfolio Management Growth Potential Business Portfolio Evolution Toward FY35 (Illustrative) High Incubating Three Strategic Pillars Business Precision Growth in New Energy Machinery Energy Semiconductor Hydrogen Growth & Building Service Lead the Share Gain A
Slide 29: Our Business Portfolio Vision
4. Upcoming Management Policy Our Business Portfolio Vision Revenue Composition by Business Portfolio (Illustrative) New Businesses Precision Machinery 3 Strategic Pillars Building 3 Strategic Service & 3 Strategic Pillars Industrial Pillars 84.0% Energy Foundational Infrastructure Foundational Foun
Slide 30: Establish a Global Talent Platform & Advance Human Capital Management
4. Upcoming Management Policy Establish a Global Talent Platform & Advance Human Capital Management ◼ We aim to create a virtuous cycle where individuals, empowered to grow and act with initiative, thrive in their roles, creating a positive cycle in which individual contributions drive growth - Our
Slide 31: Essential EBARA. Everywhere
Essential EBARA Essential EBARA. Everywhere 31 Copyright(c) Ebara Corporation, All rights reserved
Slide 32: 5. Appendix
1. FY25 1Q Summary of Results 2. FY25 1Q Results by Segment 3. FY25 Forecast 4. Future Management Policy 5. Appendix 32 Copyright(c) Ebara Corporation, All rights reserved
Slide 33: Consolidated Forecast（FY25 1-2Q, 3-4Q）
5. Appendix Consolidated Forecast（FY25 1-2Q, 3-4Q） FY23 FY24 FY25 (billions of yen) 1-2Q 3-4Q 1-2Q 3-4Q 1-2Q Plan 3-4Q Plan Announced date (m/d/y) May/15/25 May/15/25 Orders 367.6 452.9 399.6 460.9 457.0 483.0 Revenue 363.8 395.5 394.5 472.1 432.0 468.0 Total Operating Profit 33.7 52.3 39.9 58.0 42.
Slide 34: Orders
5. Appendix Orders FY24 FY25 (billions of yen) 1-2Q Plan 3-4Q Plan 1-4Q Plan 1Q 1-2Q 1-3Q 1-4Q 1Q Announced date (m/d/y) May/15/25 May/15/25 May/15/25 Total 191.6 399.6 643.6 860.5 199.8 457.0 483.0 940.0 Building Service & 58.1 123.6 184.5 244.4 59.7 123.0 132.0 255.0 Industrial Energy 54.5 95.5 16
Slide 35: Revenue
5. Appendix Revenue FY24 FY25 (billions of yen) 1-2Q Plan 3-4Q Plan 1-4Q Plan 1Q 1-2Q 1-3Q 1-4Q 1Q Announced date (m/d/y) May/15/25 May/15/25 May/15/25 Total 193.8 394.5 604.3 866.6 212.6 432.0 468.0 900.0 Building Service & 56.5 114.7 172.7 238.1 56.3 120.0 130.0 250.0 Industrial Energy 43.5 92.6 1
Slide 36: Operating Profit
5. Appendix Operating Profit FY24 FY25 (billions of yen) 1-2Q Plan 3-4Q Plan 1-4Q Plan 1Q 1-2Q 1-3Q 1-4Q 1Q Announced date (m/d/y) May/15/25 May/15/25 May/15/25 Total 19.2 39.9 59.8 97.9 22.6 42.0 59.5 101.5 Building Service & 4.3 7.8 5.5 10.3 4.3 7.5 10.5 18.0 Industrial Energy 3.6 7.5 15.3 28.0 1.
Slide 37: Backlog of Orders
5. Appendix Backlog of Orders FY24 FY25 (billions of yen) 2QPlan 4Q Plan 1Q 2Q 3Q 4Q 1Q Announced date (m/d/y) May/15/25 May/15/25 Total 909.1 938.0 938.7 917.1 886.8 942.1 957.1 Building Service & 65.0 73.2 72.4 68.7 69.9 71.7 73.7 Industrial Energy 232.9 235.3 232.3 239.0 222.0 242.0 249.0 Infrast
Slide 38: Revenue by Region
5. Appendix Revenue by Region (billions of yen) FY24 FY25 1Q 1-2Q 1-3Q 1-4Q 1Q Building Service & Industrial 56.5 114.7 172.7 238.1 56.3 Japan 26.1 48.7 71.0 100.4 27.0 Asia (excl. Japan) 12.8 29.7 46.6 63.8 11.6 North America 4.0 8.8 14.2 18.5 4.5 Europe 6.0 12.7 18.6 24.4 5.9 Middle East 2.3 3.8 5
Slide 39: Service & Support (S&S) Revenue
5. Appendix Service & Support (S&S) Revenue (billions of yen) FY24 FY25 1Q 1-2Q 1-3Q 1-4Q 1Q S&S Revenue 13.0 24.3 35.3 50.2 13.5 Building Service & Industrial S&S Ratio 23% 21% 20% 21% 24% S&S Revenue 22.1 44.2 69.7 100.9 24.3 Energy S&S Ratio 51% 48% 48% 48% 50% S&S Revenue 10.0 14.3 17.7 24.7 11.
Slide 40: Balance Sheet
5. Appendix Balance Sheet (billions of yen) FY24 1Q FY24 4Q FY25 1Q Change Change a b c c-a c-b Total Assets 953.4 1,005.0 1,001.2 +47.8 -3.8 Current Assets 675.5 705.3 695.5 +20.0 -9.7 Cash and cash equivalents 165.2 171.0 167.2 +2.0 -3.7 Trade receivables 271.5 287.9 287.8 +16.2 -0.1 Inventories 2
Slide 41: Cash Flows
5. Appendix Cash Flows 1Q 1-4Q (billions of yen) FY24 FY25 Change FY24 FY25 Plan Change Announced date (m/d/y) May/15/25 a b b-a c d d-c CF from 19.6 -1.5 -21.1 +100.9 80.0 -20.9 operating activities CF from -6.7 -17.0 -10.2 -48.5 -100.0 -51.4 investing activities FCF 12.8 -18.5 -31.4 +52.3 -20.0 -7
Slide 42: ESG Topics
5. Appendix ESG Topics Selected by domestic equity investment managers of GPIF as one of the E “Outstanding TCFD Disclosures” Feb 2025 News release (Japanese Language Only) Environment Received an “A-” Rating for the First Time from CDP in both Climate Change and Water Security categories Feb 2025 N
Slide 43: 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