Torishima Pump Mfg.co., Ltd. TSE:6363

Torishima Pump Mfg : Presentation Material of Consolidated Financial Results for the 1st quarter FY2024

Published

Source: MarketScreener

Consolidated Financial Results for the 1st quarter of FY2024

(April 1st 2024 ~ June 30th 2024)

< Aug 8th 2024 >

TORISHIMA PUMP MFG.CO.,LTD.

Securities Code : 6363

www.torishima.co.jp/en

Torishima Pump Mfg. Co., Ltd.

1

FY2024 1Q Financial Results Outline

Orders Received

Sales

Operating Income

Billions of yen

  • 24.2
  • 17.5
  • 0.7

Y0Y

+3.7 +18.0%

+0.2 +1.1%

-0.5-41.7%

Ordinary Income

Net Income

…

…

0.8

1.3

-0.2-20.0%

+0.4 +44.4%

Torishima Pump Mfg. Co., Ltd.

2

FY2024 1Q Consolidated Financial Results

  • Orders received: 22.3% increased in the public sector, 0.4% decreased in the private sector, and 20.3% increased in the overseas sector, Overall orders received progressed steadily towards the annual plan.
  • Sales: 14.5% increased in the public sector, 8.3% decreased in the private sector, and 0.6% increased in the overseas sector, and overall sales were up 1.1% to 17.5 billion yen.
  • Profit: Operating profit fell by 0.5 billion yen, as sales remained at the previous year's level and were unable to absorb the increase in SG&A expenses. Net income increased by 0.4 billion yen due to gains on the sale of securities.

Billions of yen

FY2023 1Q

FY2024 1Q

YOY

FY2024

Progress

Amount

%

Full-year plan

Orders Received

20.5

24.2

+3.7

+18.0%

89.0

27.2%

Sales

17.3

17.5

+0.2

+1.2%

86.0

20.3%

Gross profit

4.8

4.8

±0

±0%

(Gross profit margin)

(27.7%)

(27.4%)

(-0.3pt)

SG&A expense

3.7

4.2

+0.5

+13.5%

Operating profit

1.2

0.7

-0.5

-41.7%

7.3

9.6%

(Operating profit margin)

(6.9%)

(4.0%)

(+2.9pt)

(8.5%)

Non-operating

-0.2

0.1

+0.3

―

―

―

Profit or loss

Ordinary profit

1.0

0.8

-0.2

-20.0%

6.3

12.7%

Extraordinary

0.2

1.0

+0.8

+400.0%

―

―

profit or loss

Net profit

0.9

1.3

+0.4

+44.4%

5.3

24.5%

*Foreign exchange rate（1USD)

¥144.99-30.06.2023

¥161.07-30.06.2024

assumptions:¥150

Torishima Pump Mfg. Co., Ltd.

3

FY2024 1Q Financial Results

（Non-consolidated / Subsidiaries）

■ Non-consolidated

FY2023

FY2024

YOY

1Q

1Q

Amount

%

Sales

13.3

12.0

-1.3

-9.8%

Gross profit

3.1

2.4

-0.7

-22.6%

(Gross profit margin)

(23.3%)

(20.0%)

(+3.3pt)

SG&A expense

2.3

2.4

+0.1

+4.3%

Operating profit

0.8

-0

-0.8

ー

(Operating profit margin)

(6.0%)

(-0.3%)

(-6.3pt)

■ Subsidiaries*

Billions of yen

FY2023

FY2024

YOY

1Q

1Q

Amount

%

5.7

7.5

+1.8

+31.6%

2.0

2.7

+0.7

+35.0%

(35.1%)

(36.0%)

(+0.9pt)

1.5

1.9

+0.4

+26.7%

0.5

0.8

+0.3

+60.0%

(8.8%)

(10.7%)

(+1.9pt)

• Although the profit margin for overseas high-tech pumps has decreased significantly

•

The sales substantially increased driven by the strong

compared to the same period last year, resulting in a substantial decline in profits, it is

performance of service subsidiaries and project

expected that the profit margin will recover for the full year due to the revenue from

subsidiaries.

large projects planned for the second half of the year.

•

Increased profits as a result of increased sales from

service companies and improved profit margins.

*Subsidiary financial results are before consolidation adjustments. Therefore, non-consolidated + subsidiary does not = consolidated results.

Torishima Pump Mfg. Co., Ltd.

4

Orders received, Sales and Orders backlog by sector

Millions of yen

FY2023.1Q

FY2024.1Q

Orders

Sales

Orders

Orders

Sales

Orders

Received

Backlog

Received

Backlog

Public sector

4,448

2,546

22,882

5,440

2,916

29,037

YOY rate

-23.2%

-22.6%

28.7%

22.3%

14.5%

26.9%

Private sector

2,677

3,016

10,160

2,667

2,764

9,652

YOY rate

5.3%

44.7%

17.3%

-0.4%

-8.4%

-5.0%

Overseas

13,344

11,767

58,382

16,049

11,837

63,087

YOY rate

-20.8 %

107.8%

13.0%

20.3 %

0.6%

8.1%

Total

20,471

17,331

91,426

24,157

17,518

101,777

YOY rate

-18.7%

57.0%

17.1%

18.0%

1.1%

11.3%

Torishima Pump Mfg. Co., Ltd.

5

Orders received, Sales and Orders backlog by sector

Orders Received

20,000

30,000

25,000

15,000

20,000

10,000

15,000

10,000

5,000

5,000

0

0

2020

2021

2022

2023

2024

80,000

Orders Backlog

120,000

100,000

60,000

80,000

40,000

60,000

40,000

20,000

20,000

0

0

2020

2021

2022

2023

2024

Sales

14,000

12,000

10,000

8,000

6,000

4,000

2,000

0

2020

2021

2022

2023

2024

Left

■ Public ■ Private ■ Overseas

Right

Total

Millions of yen

20,000

15,000

10,000

5,000

0

6

Orders received, Sales and Orders backlog by segment

Millions of yen

FY2023 1Q

FY2024 1Q

Orders

Sales

Orders

Orders

Sales

Orders

Received

Backlog

Received

Backlog

High-tech Pump

7,137

8,950

44,726

8,027

7,288

48,321

YoY rate

-48.1%

161.5%

5.5%

12.5%

-18.6%

8.0%

Project

4,828

2,845

32,328

7,358

3,974

37,389

YoY rate

-21.4%

-28.4%

23.6%

52.4%

39.7%

15.7%

Service Solutions

8,329

5,429

14,143

8,750

6,164

15,878

YoY rate

68.3%

55.5%

54.8%

5.1%

13.5%

12.3%

Renewable

Energy

177

108

229

23

93

188

& Environment

YoY rate

-48.7%

-28.0%

-38.6%

-87.0%

-13.9%

-17.9%

Total

20,471

17,331

91,426

24,158

17,519

101,777

YoY rate

-18.7%

57.0%

17.1%

18.0%

1.1%

11.3%

Torishima Pump Mfg. Co., Ltd.

7

Orders received, Sales and Orders backlog by segment

Orders Received

15,000

30,000

25,000

10,000

20,000

15,000

5,000

10,000

5,000

0

0

2020

2021

2022

2023

2024

60,000

Orders Backlog

120,000

50,000

100,000

40,000

80,000

30,000

60,000

20,000

40,000

10,000

20,000

0

0

2020

2021

2022

2023

2024

Sales

10,000

20,000

9,000

8,000

15,000

7,000

6,000

5,000

10,000

4,000

3,000

5,000

2,000

1,000

0

0

2020

2021

2022

2023

2024

Left

■ High-tech pump ■ Project

■ Service Solutions ■ Renewable Energy & Environment

Right

Total

Millions of yen

8

Orders Received breakdown by region

Millions of yen

Japan

Overseas

Breakdown

Total

Asia

Middle East

Other

FY2022 1Q

8,340

16,852

2,357

3,004

11,491

25,192

(33.1%)

(66.9%)

(9.4%)

(11.9%)

(45.6%)

FY2023 1Q

7,126

13,345

4,422

3,617

5,306

20,471

(34.8%)

(65.2%)

(21.6%)

(17.7%)

(25.9%)

FY2024 1Q

8,108

16,049

5,307

6,707

4,035

24,157

(33.6%)

(66.4%)

(22.0%)

(27.7%)

(16.7%)

  • Japan ■ Asia ■ Middle East ■ Other

FY2022.1Q

FY2023.1Q

FY2024.1Q

25.9%

16.7%

33.1%

34.8%

33.6%

45.6%

17.7%

27.7%

9.4%

21.6%

22.0%

11.9%

Torishima Pump Mfg. Co., Ltd.

9

Sales breakdown by region

Millions of yen

Japan

Overseas

Breakdown

Total

Asia

Middle East

Other

FY2022 1Q

5,367

5,660

1,918

2,137

1,605

11,036

(48.6%)

(51.4%)

(17.4%)

(19.4%)

(14.5%)

FY2023 1Q

5,564

11,767

2,096

2,517

7,154

17,331

(32.1%)

(67.9%)

(12.1%)

(14.5%)

(41.3%)

FY2024 1Q

5,682

11,837

3,457

4,047

4,333

17,519

(32.4%)

(67.6%)

(19.7%)

(23.1%)

(24.8%)

■ Japan

■ Asia ■ Middle East ■ Other

FY2022.1Q

FY2023.1Q

FY2024.1Q

14.5%

24.8%

32.1%

32.4%

19.4%

48.6%

41.3%

12.1%

23.1%

17.4%

19.7%

14.5%

Torishima Pump Mfg. Co., Ltd.

10