Horiba, Ltd. · TSE:6856
Horiba — H1 2024 Earnings Presentation
32 slides from Horiba's earnings presentation, Aug 29, 2024
Slide 1: Financial Information
Financial Information HORIBA, Ltd. August, 2024 © 2024 HORIBA, Ltd. All rights reserved.
Slide 2: Contents
Contents ◼ 2024 First Half Results ◼ 2024 Forecasts ◼ Outlines by Business Segment ◼ Topics ➢ Financial Data © 2024 HORIBA, Ltd. All rights reserved. 2
Slide 3: Contents
Contents ◼ 2024 First Half Results ◼ 2024 Forecasts ◼ Outlines by Business Segment ◼ Topics ➢ Financial Data © 2024 HORIBA, Ltd. All rights reserved. 3
Slide 4: Review of First Half of 2024
Review of First Half of 2024 ◆ Uncertainty in foreign exchange market due to uncertain monetary policy trends in various countries ◆ Changes in international situation and the rising geopolitical risks due to the External election year Events ◆ Semiconductor demand driven by increased investment in
Slide 5: 2024 First Half Results
2024 First Half Results (Billions of Yen) 2023 2024 Changes 1st half 1st half 1st half Results vs Previous Forecasts Results vs 2023 (Jan.-Jun.) Forecasts (as of May 14) (Jan.-Jun.) Sales 131.1 150.0 142.7 +11.6 - 7.2 Operating profit 17.8 21.0 18.6 +0.7 - 2.3 O.P.% 13.6% 14.0% 13.0% -0.6p -1.0p Ord
Slide 6: 2024 First Half Results by Segment
2024 First Half Results by Segment (Billions of Yen) Sales Operating profit 2023 2024 Changes 2023 2024 Changes 1st half 1st half 1st half vs 1st half 1st half 1st half vs Results Forecasts Results vs 2023 Previous Results Forecasts Results vs 2023 Previous (Jan.-Jun.) (as of May 14) (Jan.-Jun.) For
Slide 7: 2024 First Half Results (B/S, CF)
2024 First Half Results (B/S, CF) ◆Total assets: Up ¥20.3bn to ¥469.3bn, mainly by increasing B/S inventory ◆Equity ratio: 64.6% (compared to the end of Dec. 2023) ◆Operating CF: Cash in ¥9.9bn due to operating profit Free CF: + ¥5.5bn ◆Investing CF: Cash out ¥4.3bn due to CF capital investments ◆Fi
Slide 8: Contents
Contents ◼ 2024 First Half Results ◼ 2024 Forecasts ◼ Outlines by Business Segment ◼ Topics ➢ Financial Data © 2024 HORIBA, Ltd. All rights reserved. 8
Slide 9: HORIBA's Assumptions Regarding Market Environment
HORIBA’s Assumptions Regarding Market Environment Continued concerns about the uncertainty in the foreign exchange market and the increasingly General complex international situation. Continuing moderate economic growth thanks to the strong demand for capex. Accelerating vehicles development with va
Slide 10: 2024 Forecasts
2024 Forecasts (Billions of Yen) 2023 2024 Changes Previous Forecasts vs Previous Results Forecasts vs 2023 (as of Aug. 8) Forecasts (as of May 14) Sales 290.5 321.0 321.0 +30.4 - Operating profit 47.2 52.0 52.0 +4.7 - O.P.% 16.3% 16.2% 16.2% -0.1p - Ordinary profit 48.2 52.7 52.7 +4.4 - Net income
Slide 11: 2024 Forecasts by Segment
2024 Forecasts by Segment (Billions of Yen) Sales Operating profit 2023 2024 Changes 2023 2024 Changes Previous Previous Forecasts vs Previous Forecasts vs Previous Results Forecasts vs 2023 Results Forecasts vs 2023 (as of Aug. 8) Forecasts (as of Aug. 8) Forecasts (as of May 14) (as of May 14) Aut
Slide 12: Contents
Contents ◼ 2024 First Half Results ◼ 2024 Forecasts ◼ Outlines by Business Segment ◼ Topics ➢ Financial Data © 2024 HORIBA, Ltd. All rights reserved. 12
Slide 13: Automotive: First Half Results and 2024 Forecasts
Automotive First Half Results and 2024 Forecasts *1 Mechatronics 2024 First Half Results *2 Engineering Consultancy & Testing 2024 Full Year Forecasts and Longer-term outlook 【EMS】 【EMS】 • Increase in sales of emission measurement equipment in Japan and • Need to update facilities for developing int
Slide 14: Automotive FC/Battery Business Situation
Automotive FC/Battery Business Situation Hydrogen will play an important role in achieving carbon neutrality. HORIBA is taking a challenge aimed at advanced technological innovation together with our customers to expand utilization of hydrogen. R&D/Production site for evaluation equipment of fuel ce
Slide 15: Process & Environmental: First Half Results and 2024 Forecasts
Process & Environmental First Half Results and 2024 Forecasts 2024 First Half Results 2024 Full Year Forecasts and Longer-term outlook 【Gas monitoring】 *Carbon dioxide Capture, Utilization and Storage 【Gas monitoring】 • Accelerated sales of process measurement and control equipment thanks to expansi
Slide 16: Medical-Diagnostic: First Half Results and 2024 Forecasts
Medical- Diagnostic First Half Results and 2024 Forecasts 2024 First Half Results 2024 Full Year Forecasts and Longer-term outlook • Sales of reagents increased, but sales of hematology analyzers • Launch new products in Japan and growing markets, such as India. decreased in Japan. → Expect an incre
Slide 17: Semiconductor: First Half Results and 2024 Forecasts
Semiconductor First Half Results and 2024 Forecasts *1 High Bandwidth Memory 2024 First Half Results *2 Mass Flow Controller 2024 Full Year Forecasts Longer-term outlook • Demand expansion driven by DRAM and HBM*1 related investments. NAND : Expect a growth in capex demand through 2025. [MFC*2/ WET]
Slide 18: Scientific: First Half Results and 2024 Forecasts
Scientific First Half Results and 2024 Forecasts 2024 First Half Results 2024 Full Year Forecasts Longer-term outlook • Approaches to advanced materials development and the life science • Expand product sales for cutting-edge R&D. market. • Expand business for evaluation and monitoring of production
Slide 19: Contents
Contents ◼ 2024 First Half Results ◼ 2024 Forecasts ◼ Outlines by Business Segment ◼ Topics ➢ Financial Data © 2024 HORIBA, Ltd. All rights reserved. 19
Slide 20: Topics for 3 Fields Operation in MLMAP 2028
Topics for 3 fields operation in MLMAP 2028 Energy & Bio＆ Materials & Environment Healthcare Semiconductor Contributing to transforming the Contributing to technology Contributing to Carbon Neutrality Healthcare Journey innovation in Woven Value Chain We will change disclosure format from 5 Segments
Slide 21: Expanding unique automated measurement solutions for semiconductor
Materials & Semiconductor Strengthening semiconductor film thickness measurement Solutions Growing demand for automated thin film analysis equipment for wafers and photomasks HORIBA's unique core technology is incorporated into an automatic measuring system, realizing non- destructive, non-contact,
Slide 22: Sustainability: Contribution to CO2 reduction and EV development
Energy & Environment Sustainability: Contribution to CO₂ reduction and EV development Accelerating development of thermal management Supporting technological innovations in the CCUS assessment for EV Sustainability-related investments are entering the *ICE：Internal Combustion Engine demonstration ph
Slide 23: Medical business - Strengthening product and supply capabilities
Bio＆ Healthcare Medical business - Strengthening product and supply capabilities HORIBA high-throughput hematology analyzer receives FDA Contributing to the efficiency of biopharmaceutical 510(k) Clearance development and quality control Yumizen H2500 received FDA 510(k) clearance in May 2024, Marke
Slide 24: HORIBA UK Business Update: Received The King's Award
HORIBA UK Business Update: Received The King’s Award HORIBA MIRA received The King’s Award for Enterprise for Sustainable Development, the most prestigious award in the United Kingdom. [Valued point] Promotion of the virtualization of engineering disciplines and King Charles III and Declan Allen, op
Slide 25: Contents
Contents ◼ 2024 First Half Results ◼ 2024 Forecasts ◼ Outlines by Business Segment ◼ Topics ➢ Financial Data © 2024 HORIBA, Ltd. All rights reserved. 25
Slide 26: Operating Profit Analysis
Operating Profit Analysis （Billions of Yen） 2023 2024 Jan. – Jun. Jan. – Jun. Exchange Exchange Increase Increase 17.83 Increase Increase 18.61 impact for impact for R&D Other Sales COGS Gross Profit Expenses Expenses Expenses +0.45 -0.4 +5.87 -2.55 -0.78 -1.81 Increase Exchange Increase Gross Profi
Slide 27: Exchange Rate Trend / Forecasts / Impacts
Exchange Rate Trend / Forecasts / Impacts 2023 2024 Previous Actual vs 2023 Annual Forecasts Forecasts (as of Aug 8) (Annual) (as of May 14) 1Q 1H USD 140.67 145 148.63 152.36 145 +4.33 EUR 152.11 160 161.33 164.70 160 +7.89 Exchange rate impact for 2024 First Half results Exchange rate impact (vs 2
Slide 28: Capital Investment, Depreciation, R&D
Capital Investment, Depreciation, R&D （Billions of Yen） 2023 2024 2024 Previous vs Forecasts vs Actual Actual Forecasts Previous (as of Aug. 8) 2023 Jan.-Jun. (as of May 14) Forecasts Capex 9.1 23.0 23.0 +13.8 - 6.2 Depreciation and amortization 12.6 14.0 14.0 +1.3 - 6.5 R&D expenses 20.4 22.6 22.6
Slide 29: Cash Balance
(Consolidated basis, each end of period) Cash Balance (Billions of Yen) Cash Cash Cash Cash 135.0 139.8 132.7 134.3 Total 80.1 Total Total Bond 67.2 Total 66.8 ￥15.0bn Bonds 60.3 （redemption 2026） 30.0 ￥15.0bn Bonds Bonds （redemption 2029） 30.0 Bonds 30.0 Long 30.0 25.0 ¥20.0bn Long Long 24.8 Long 2
Slide 30: Shareholder Return
Shareholder Return • Dividend payment = 30% of Consolidated net income attributable to HORIBA, Ltd.’s shareholders to be targeted Basic Policy • Execute special dividend and share buybacks timely and properly, considering investment opportunities and the cash flow situation. Dividends per share ⚫ 20
Slide 31: © 2024 HORIBA, Ltd. All rights reserved.
© 2024 HORIBA, Ltd. All rights reserved.
Slide 32: This document is our proprietary material and is protected by copyright law. Please do
This document is our proprietary material and is protected by copyright law. Please do not use, reproduce, transmit, or disclose (including orally) all or part of this document without our prior approval. Thank you. © 2024 HORIBA, Ltd. All rights reserved.