Ube Corporation · TSE:4208
Ube — Q1 FY2022 Earnings Presentation
39 slides from Ube's earnings presentation, Aug 4, 2022
Slide 1: Financial Results for the 1st Quarter FY2022
Financial Results for the 1st Quarter FY2022 Explanatory material August 4, 2022 1st Quarter: April - Jun
Slide 2: FY2022 1st Quarter Consolidated Result
FY2022 1st Quarter Consolidated Result
Slide 3: Scope of Consolidation
1st Quarter of the FY2022 Scope of Consolidation End of End of Difference Item FY2021 FY2022 1Q Notes (A) (B) (B) - (A) － Meiwa Plastic Industries, Ltd. － R-Koma, Ltd. － Ichinoseki Remicon Co., Ltd. － UBE Construction Materials Sales Co., Ltd. － UBE SHIPPING & LOGISTICS, LTD. － UBE Construction Mate
Slide 4: Environmental Factors
1st Quarter of the FY2022 Environmental Factors FY2021 1Q FY2022 1Q Difference Item (A) (B) (B) - (A) Exchange Rate Yen/$ 109.5 129.6 20.1 CIF $/ｔ 601 950 349 Naphtha 47,700 86,100 38,400 Material Price Domestic Yen/KL Benzene (ACP) $/ｔ 933 1,227 294 Australian $/ｔ 130.3 393.8 263.5 Coal 2021年度 連結決算
Slide 5: Major P/L Items
1st Quarter of the FY2022 Major P/L Items (Billions of yen) FY2021 1Q FY2022 1Q Difference Percentage Item change (A) (B) (B) - (A) Net sales 146.3 116.2 (30.1) (20.6)% Operating profit 8.9 4.4 (4.5) (51.1)% Ordinary profit 8.9 2.3 (6.6) (74.3)% Profit attributable to 4.8 5.7 1.0 20.7% owners of par
Slide 6: Net Sales and Operating Profit by Segment
1st Quarter of the FY2022 Net Sales and Operating Profit by Segment (Billions of yen) FY2021 1Q FY2022 1Q Difference Percentage Segment * (A) (B) (B) - (A) change Specialty Products 14.3 15.3 0.9 6.4% Net sales Polymers & Chemicals 57.3 71.4 14.2 24.8% Machinery 21.4 20.3 (1.1) (5.1)% Others 12.6 15
Slide 7: Analysis - Total
1st Quarter of the FY2022 Analysis － Total (Billions of yen) Net Sales Qualitative Information 200.0 Net sales: Down (30.1) Specialty Products 0.9 • Cement-related: Business split and transferred to an equity-method 146.3 affiliate Polymers & Chemicals 14.2 116.2 • Polymers & Chemicals: Higher sales
Slide 8: Analysis - Specialty Products
1st Quarter of the FY2022 Analysis － Specialty Products (Billions of yen) Net Sales Qualitative Information Net sales: Up +0.9 • Polyimides: Strong sales such as COF film for displays • Separation membranes: Strong demand mainly for biogas-related applications • Ceramics: Strong demand for bearings
Slide 9: Analysis - Polymers & Chemicals
1st Quarter of the FY2022 Analysis － Polymers & Chemicals (Billions of yen) Net Sales Qualitative Information Net sales: Up +14.2 • Caprolactam & ammonium sulfate: Higher ammonium sulfate prices due to higher raw material market prices Performance Polymers 13.9 • Nylon polymers: Higher sales prices
Slide 10: Analysis - Machinery
1st Quarter of the FY2022 Analysis － Machinery (Billions of yen) Net Sales Qualitative Information (1.1) Net sales: Down • Industrial machines: Large projects such as bulk handling machines for electric power companies completed • Steel products: Higher sales prices due to higher raw material prices
Slide 11: Analysis - Others
1st Quarter of the FY2022 Analysis － Others (Billions of yen) Net Sales Qualitative Information +3.0 Net sales: Up • In-house Power: Sales of electricity supply to cement-related Pharmaceutical (0.1) businesses recorded and prices increased In-house Power 1.8 etc Operating profit: Up • Higher sales
Slide 12: Operating Profit - Profit attributable to owners of parent
1st Quarter of the FY2022 Operating Profit － Profit attributable to owners of parent (Billions of yen) FY2021 1Q FY2022 1Q Difference Item (A) (B) (B) - (A) Operating profit 8.9 4.4 (4.5) Non-operating income (expenses) 0.0 (2.1) (2.1) Net interests expenses 0.3 0.8 0.5 Share of profit (loss) of ent
Slide 13: Consolidated Balance Sheet
1st Quarter of the FY2022 Consolidated Balance Sheet (Billions of yen) End of FY2021 End of FY2022 1Q Difference Item (A) (B) (B) - (A) Current assets 394.7 271.4 (123.3) Fixed assets 443.1 465.8 22.7 Total assets 838.0 737.3 (100.6) Interest-bearing debt 241.8 188.9 (52.9) Other liabilities 202.1 1
Slide 14: Consolidated Statements of Cash Flows
1st Quarter of the FY2022 Consolidated Statements of Cash Flows (Billions of yen) FY2021 Item FY2022 1Q 1Q Profit before income taxes 9.6 Depreciation and amortization 6.2 A.Cash flows from operating activities 14.3 16.2 Increase in working capital 3.2 Income taxes paid (3.5) etc. Increase in short-
Slide 15: FY2022 Consolidated Forecasts
FY2022 Consolidated Forecasts 15
Slide 16: Scope of Consolidation
2022年度 FY2022 連結業績予想 Consolidated Forecasts Scope of Consolidation End of End of Difference Item FY2021 FY2022 Notes (A) (B) （B) - （A) － Meiwa Plastic Industries, Ltd. － Ube Reality & Development Co., Ltd. － UBE Advanced Materials INC. － Advanced Electrolyte Technologies LLC － R-Koma, Ltd. － Ichinos
Slide 17: Environmental Factors
2022年度 FY2022 連結業績予想 Consolidated Forecasts Environmental Factors FY2021 FY2022 Difference Item (A) (B) (B) - (A) 129.9 Exchange Rate Yen/$ 112.4 17.5 [130] 935 CIF $/ｔ 702 233 Naphtha [930] 86,175 Domestic Yen/KL 56,700 29,475 Material Price [86,200] Benzene 1,222 $/ｔ 990 232 (ACP) [1,220] 398.5 Au
Slide 18: Major P/L Items
2022年度 FY2022 連結業績予想 Consolidated Forecasts Major P/L Items (Billions of yen) FY2021 FY2022 Difference Percentage Item (A) (B) (B) - (A) change Net sales 655.3 557.0 (98.3) (15.0)% Operating profit 44.0 32.0 (12.0) (27.3)% Ordinary profit 41.5 17.0 (24.5) (59.1)% Profit attributable to owners of par
Slide 19: Net Sales and Operating Profit by Segment
2022年度 FY2022 連結業績予想 Consolidated Forecasts Net Sales and Operating profit by Segment (Billions of yen) Segment * FY2021 FY2022 Difference Percentage (A) (B) (B) - (A) change Specialty Products 60.8 69.0 8.2 13.5% Net sales Polymers & Chemicals 260.0 344.0 84.0 32.3% Machinery 97.0 104.0 7.0 7.2% Ot
Slide 20: Analysis - Total
2022年度 FY2022 連結業績予想 Consolidated Forecasts Analysis － Total (Billions of yen) Net sales Revisions from the previous earnings forecasts published on May 12, 2022 800.0 655.3 (98.3) Net sales: Upturn ［510.0 → 557.0, +47.0］ Specialty Products 8.2 557.0 Polymers & Chemicals 84.0 • Polymers & Chemicals:
Slide 21: Analysis - Specialty Products
2022年度 FY2022 連結業績予想 Consolidated Forecasts Analysis － Specialty Products (Billions of yen) Net sales Revisions from the previous earnings forecasts published on May 12, 2022 +8.2 Net sales: No revision Operating profit: No revision 13.5% Increased Operating profit +1.4 11.8% Increased 21
Slide 22: Analysis - Polymers & Chemicals
2022年度 FY2022 連結業績予想 Consolidated Forecasts Analysis － Polymers & Chemicals (Billions of yen) Net sales Revisions from the previous earnings forecasts published on May 12, 2022 +84.0 Net sales: Upturn ［302.0 → 344.0, +42.0］ Performance Polymers 78.6 • Sales prices of nylon polymers, synthetic rubber
Slide 23: Analysis - Machinery
2022年度 FY2022 連結業績予想 Consolidated Forecasts Analysis － Machinery (Billions of yen) Net sales Revisions from the previous earnings forecasts published on May 12, 2022 +7.0 Net sales: Downturn ［106.0 → 104.0, (2.0)］ • Largely as planned Operating profit: No revision 7.2% Increased Operating profit (0.
Slide 24: Analysis - Others
2022年度 FY2022 連結業績予想 Consolidated Forecasts Analysis － Others (Billions of yen) Net sales Revisions from the previous earnings forecasts published on May 12, 2022 +20.8 Net sales: Upturn (60.0 → 75.0, +15.0) • Rising electricity market conditions will lead to higher electricity sales Pharmaceutical
Slide 25: Operating Profit - Profit attributable to owners of parent
2022年度 FY2022 連結業績予想 Consolidated Forecasts Operating Profit － Profit attributable to owners of parent (Billions of yen) FY2021 FY2022 Difference Item (A) (B) (B) - (A) Operating profit 44.0 32.0 (12.0) Non-operating income (expenses) (2.5) (15.0) (12.5) Share of loss of entities accounted for using
Slide 26: Reference
Reference
Slide 27: Difference of Net Sales
Reference: FY2022 Consolidated Forecast Difference of Net sales （Billions of yen） Previous Revised forecasts forecasts Difference Segment 2022/5/12 2022/8/4 Major factors (A) (B) (B) - (A) Specialty Products 69.0 69.0 － Performance Polymers & Chemicals 32.0 Polymers & Chemicals 302.0 344.0 42.0 Elas
Slide 28: Difference of Operating profit
Reference: FY2022 Consolidated Forecast Difference of Operating profit （Billions of yen） Previous Revised forecasts forecasts Difference Segment 2022/5/12 2022/8/4 Major factors (A) (B) (B) - (A) Specialty Products 13.0 13.0 － Performance Polymers & Chemicals (2.0) Polymers & Chemicals 18.5 15.5 (3.
Slide 29: Analysis of Operating profit by Segment
Reference: 1st Quarter of the FY2022 Analysis of Operating profit by Segment （Billions of yen） Operating profit Segment FY2021 1Q FY2022 1Q Difference Fixed cost Price Volume and others (A) (B) (B) - (A) *1 *2 Specialty Products 2.6 2.8 0.2 (0.3) 0.4 0.1 Polymers & Chemicals 5.3 1.9 (3.4) (1.1) (2.2
Slide 30: Progress of Major P/L Items
Reference: 1st Quarter of the FY2022 Progress of Major P/L Items (Billions of yen) FY2021 Results (A) FY2022 Forecasts (B) Difference (B) - (A) Item 1Q 1Q 1Q Progress Progress 146.3 116.2 Net sales 655.3 557.0 (98.3) (30.1) 22.3% 20.9% 8.9 4.4 Operating profit 44.0 32.0 (12.0) (4.5) 20.2% 13.6% 8.9
Slide 31: Net Sales
Reference: 1st Quarter of the FY2022 Net Sales (Billions of yen) FY2022 Full-year Segment Progress 1Q 2Q 3Q 4Q Total (forecast) Specialty Products 15.3 － － － 15.3 69.0 22.1% Polymers & Chemicals 71.4 － － － 71.4 344.0 20.8% Machinery 20.3 － － － 20.3 104.0 19.6% Others 15.6 － － － 15.6 75.0 20.8% Adjus
Slide 32: Operating Profit
Reference: 1st Quarter of the FY2022 Operating Profit (Billions of yen) FY2022 Full-year Segment Progress 1Q 2Q 3Q 4Q Total (forecast) Specialty Products 2.8 － － － 2.8 13.0 21.7% Polymers & Chemicals 1.9 － － － 1.9 15.5 12.2% Machinery 0.4 － － － 0.4 5.0 7.1% Others 0.7 － － － 0.7 2.5 26.0% Adjustment
Slide 33: 4Q on 1Q - Net Sales
Reference: 1st Quarter of the FY2022 4Q on 1Q － Net Sales （Billions of yen） FY2021 FY2022 Difference Segment 4Q 1Q Major factors (A) (B) (B) - (A) Specialty Products 15.9 15.3 (0.7) Performance Polymers & Chemicals 2.4 Polymers & Chemicals 69.6 71.4 1.8 Elastmer (0.5) etc. Machinery 26.2 20.3 (5.9)
Slide 34: 4Q on 1Q - Operating Profit
Reference: 1st Quarter of the FY2022 4Q on 1Q － Operating Profit （Billions of yen） FY2021 FY2022 Difference Segment 4Q 1Q Major factors (A) (B) (B) - (A) Specialty Products 2.8 2.8 (0.0) Performance Polymers & Chemicals (3.6) Polymers & Chemicals 5.7 1.9 (3.8) Elastmer (0.2) Machinery 1.9 0.4 (1.6)
Slide 35: Net Sales and Operating Profit by Business Portfolio
Reference: 1st Quarter of the FY2022 Net Sales and Operating Profit by Business Portfolio (Billions of yen) FY2021 FY2022 full-year Business portfolio 1Q (forecast) Progress (A) (B) Specialty business 30.3 147.5 20.5% Net sales Basic business 70.8 320.0 22.1% Machinery business 20.3 104.0 19.6% Othe
Slide 36: Consolidated Key Indicators
Reference: 1st Quarter of the FY2022 Consolidated Key Indicators (Billions of yen) FY2022 full-year FY2021 Item FY2021 1Q FY2022 1Q (forecast) full-year Capital investment 6.8 7.4 39.0 39.6 Depreciation and amortization 9.1 6.2 24.0 36.5 Research and development expenses 2.8 2.4 11.0 11.8 Adjusted o
Slide 37: Consolidated Major Subsidiaries
Reference: 1st Quarter of the FY2022 Consolidated Major Subsidiaries (Billions of yen) Difference of Net Sales operating Subsidiaries Business profit from FY2022 1Q FY2021 1Q Manufacture and sales of nylon, caprolactam, ammonium sulfate and UBE Corporation Europe, S.A. Unipersonal fine chemical prod
Slide 38: IR Calendar
Reference: IR Calendar Announcement of 1st half Business Results Announcement of 1st half Business Results • November 4, 2022 15:00 Telephone Conference for 1st half Business Results • November 4, 2022 18:00 ー 19:00 (Note) This schedule is subject to change without notice due to circumstances 38
Slide 39: Forward-looking statements disclaimer
This presentation material contains forward-looking statements concerning UBE’s future plans, strategies, and performance. These forward-looking statements are not historical facts; rather, they represent assumptions and beliefs based on economic, financial, and competitive conditions currently obse