Ube Corporation · TSE:4208
Ube — H1 FY2022 Earnings Presentation
40 slides from Ube's earnings presentation, Nov 4, 2022
Slide 1: Financial Results for the 1st half FY2022
Financial Results for the 1st half FY2022 Explanatory material November 4, 2022 1st Half: April - September
Slide 2: FY2022 1st half Consolidated Result
FY2022 1st half Consolidated Result
Slide 3: Scope of Consolidation
1st half of the FY2022 Scope of Consolidation End of End of Difference Item FY2021 FY2022 2Q Notes (A) (B) (B) - (A) － Meiwa Plastic Industries, Ltd. － Ube Reality & Development Co., Ltd. － R-Koma, Ltd. － Ichinoseki Remicon Co., Ltd. － UBE Construction Materials Sales Co., Ltd. － UBE SHIPPING & LOGI
Slide 4: Environmental Factors
1st half of the FY2022 Environmental Factors FY2021 2Q FY2022 2Q Difference Item (A) (B) (B) - (A) Exchange Rate Yen/$ 109.8 134.0 24.2 CIF $/ｔ 638 889 251 Naphtha 50,600 83,500 32,900 Material Price Domestic Yen/KL Benzene (ACP) $/ｔ 981 1,171 190 Australian $/ｔ 143.5 406.5 263.0 Coal 2021年度 連結決算概要
Slide 5: Major P/L Items
1st half of the FY2022 Major P/L Items (Billions of yen) FY2021 2Q FY2022 2Q Difference Percentage Item change (A) (B) (B) - (A) Net sales 306.7 244.8 (61.9) (20.2)% Operating profit 19.1 8.5 (10.6) (55.4)% Ordinary profit (loss) 17.9 (1.8) (19.7) － Profit (loss) attributable 9.5 (0.3) (9.9) － to ow
Slide 6: Net Sales and Operating Profit by Segment
1st half of the FY2022 Net Sales and Operating Profit by Segment O (Billions of yen) r * FY2021 2Q FY2022 2Q Difference Percentage Segment (A) (B) (B) - (A) change d Specialty Products 29.0 31.8 2.7 9.4% i Net sales Polymers & Chemicals 119.4 149.5 30.1 25.2% nMachinery 45.4 45.3 (0.1) (0.2)% aOther
Slide 7: Analysis - Total
1st half of the FY2022 Analysis － Total (Billions of yen) Net Sales Qualitative Information 400.0 Net sales: Down 306.7 (61.9) Specialty Products 2.7 • Cement-related: Business split and transferred to an equity-method Polymers & Chemicals 30.1 affiliate 244.8 • Polymers & Chemicals: Higher sales pr
Slide 8: Analysis - Specialty Products
1st half of the FY2022 Analysis － Specialty Products (Billions of yen) Net Sales Qualitative Information 40.0 Net sales: Up +2.7 31.8 • Polyimides: Strong sales such as COF film for displays and varnish for 29.0 organic EL panels • Separation membranes: Strong demand mainly for biogas-related 20.0 a
Slide 9: Analysis - Polymers & Chemicals
1st half of the FY2022 Analysis － Polymers & Chemicals (Billions of yen) Net Sales Qualitative Information 200.0 Net sales: Up +30.1 • Nylon polymers: Higher sales prices due to higher raw material 149.5 Performance Polymers prices, etc., despite a slowdown in demand for food packaging film 119.4 27
Slide 10: Analysis - Machinery
1st half of the FY2022 Analysis － Machinery (Billions of yen) Net Sales Qualitative Information 60.0 Net sales: Down (0.1) • Molding machine: Increased sales volume due to recovery of orders 45.4 45.3 from automotive industry • Industrial machines: Large projects such as bulk handling machines for e
Slide 11: Analysis - Others
1st half of the FY2022 Analysis － Others (Billions of yen) Net Sales Qualitative Information 40.0 +9.0 33.4 Net sales: Up • Pharmaceutical: Strong sales of both drugs developed by UBE and 24.4 those manufactured under contract Pharmaceutical 0.8 20.0 • Power: Sales of electricity supply to cement-re
Slide 12: Operating Profit - Profit attributable to owners of parent
1st half of the FY2022 Operating Profit － Profit attributable to owners of parent (Billions of yen) FY2021 2Q FY2022 2Q Difference Item (A) (B) (B) - (A) Operating profit 19.1 8.5 (10.6) Non-operating income (expenses) (1.2) (10.3) (9.2) Net interests expenses 0.3 0.8 0.6 Share of loss of entities a
Slide 13: Consolidated Balance Sheet
1st half of the FY2022 Consolidated Balance Sheet (Billions of yen) End of FY2021 End of FY2022 2Q Difference Item (A) (B) (B) - (A) Current assets 394.7 271.2 (123.5) Fixed assets 443.1 459.9 16.8 Total assets 838.0 731.2 (106.8) Interest-bearing debt 241.8 189.3 (52.5) Other liabilities 202.1 140.
Slide 14: Consolidated Statements of Cash Flows
1st half of the FY2022 Consolidated Statements of Cash Flows (Billions of yen) FY2021 Item FY2022 2Q 2Q Profit before income taxes 4.8 Depreciation and amortization 12.5 Share of loss of entities accounted for using equtiy method (11.1) A.Cash flows from operating activities 12.7 11.3 Gain on Change
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) ＋ API Corporation ＋ MAPIC Europe NV － Meiwa Plastic Industries, Ltd. － Ube Reality & Development Co., Ltd. － UBE Advanced Materials INC. － Advanced Electrolyte Techn
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) 137.0 Exchange Rate Yen/$ 112.4 24.6 [140.0] 905 CIF $/ｔ 702 203 Naphtha [920] 84,300 56,700 27,600 Material Price Domestic Yen/KL [85,100] Benzene 1,185 $/ｔ 990 195 (ACP) [1,200] 406.0
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 655.3 547.0 (108.3) (16.5)% Operating profit 44.0 29.0 (15.0) (34.1)% Ordinary profit 41.5 4.5 (37.0) (89.2)% 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 260.0 340.0 80.0 30.7% Machinery 97.0 101.0 4.0 4.1% 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 August 4, 2022 800.0 655.3 (108.3) Net sales: Downturn ［557.0 → 547.0, (10.0)］ Specialty Products 8.2 547.0 Polymers & Chemicals 80.0 • Polymers & Chem
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 August 4, 2022 90.0 +8.2 Net sales: No revision 69.0 60.8 45.0 Operating profit: No revision 13.5% Increased 0.0 FY2021 FY2022 Operating p
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 August 4, 2022 400.0 340.0 +80.0 Net sales: Downturn ［344.0 → 340.0, (4.0)］ 260.0 Performance Polymers • Sales volumes of nylon polymers
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 August 4, 2022 140.0 +4.0 Net sales: Downturn ［104.0 → 101.0, (3.0)］ 97.0 101.0 • Molding machine: Impact of longer component delivery times and lo
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 August 4, 2022 90.0 +18.8 73.0 Net sales: Downturn (75.0 → 73.0, (2.0)] 54.2 • Largely as planned Pharmaceutical 0.4 45.0 Power 13.1 etc Operating pro
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 29.0 (15.0) Non-operating income (expenses) (2.5) (24.5) (22.0) 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 2022/8/4 2022/10/28 Major factors (A) (B) (B) - (A) Specialty Products 69.0 69.0 － Performance Polymers & Chemicals (3.0) Polymers & Chemicals 344.0 340.0 (4.0) E
Slide 28: Difference of Operating profit
Reference: FY2022 Consolidated Forecast Difference of Operating profit （Billions of yen） Previous Revised forecasts forecasts Difference Segment Major factors 2022/8/4 2022/10/28 (A) (B) (B) - (A) Specialty Products 13.0 13.0 － Performance Polymers & Chemicals (4.0) Polymers & Chemicals 15.5 12.5 (3
Slide 29: Analysis of Operating profit by Segment
Reference: 1st half of the FY2022 Analysis of Operating profit by Segment （Billions of yen） Operating profit Segment FY2021 2Q FY2022 2Q Difference Fixed cost Price Volume and others (A) (B) (B) - (A) *1 *2 Specialty Products 5.2 5.5 0.3 (0.4) 1.0 (0.3) Polymers & Chemicals 9.6 2.4 (7.1) (3.4) (3.1)
Slide 30: Progress of Major P/L Items
Reference: 1st half of the FY2022 Progress of Major P/L Items (Billions of yen) FY2021 Results (A) FY2022 Forecasts (B) Difference (B) - (A) Item 2Q 2Q 2Q Progress Progress 306.7 244.8 Net sales 655.3 547.0 (108.3) (61.9) 46.8% 44.7% 19.1 8.5 Operating profit 44.0 29.0 (15.0) (10.6) 43.3% 29.4% 17.9
Slide 31: Net Sales
Reference: 1st half of the FY2022 Net Sales (Billions of yen) FY2022 Full-year Segment Progress 1Q 2Q 3Q 4Q Total (forecast) Specialty Products 15.3 16.5 － － 31.8 69.0 46.0% Polymers & Chemicals 71.4 78.0 － － 149.5 340.0 44.0% Machinery 20.3 24.9 － － 45.3 101.0 44.8% Others 15.6 17.8 － － 33.4 73.0 4
Slide 32: Operating Profit
Reference: 1st half of the FY2022 Operating Profit (Billions of yen) FY2022 Full-year Segment Progress 1Q 2Q 3Q 4Q Total (forecast) Specialty Products 2.8 2.7 － － 5.5 13.0 42.4% Polymers & Chemicals 1.9 0.5 － － 2.4 12.5 19.2% Machinery 0.4 0.9 － － 1.2 4.5 27.1% Others 0.7 0.6 － － 1.2 3.0 40.8% Adjus
Slide 33: 2Q on 1Q - Net Sales
Reference: 1st half of the FY2022 2Q on 1Q － Net Sales （Billions of yen） FY2022 FY2022 Difference Segment 1Q 2Q Major factors (A) (B) (B) - (A) Specialty Products 15.3 16.5 1.2 Performance Polymers & Chemicals 3.6 Polymers & Chemicals 71.4 78.0 6.6 Elastmer 3.0 Machinery 20.3 24.9 4.6 Pharmaceutical
Slide 34: 2Q on 1Q - Operating Profit
Reference: 1st half of the FY2022 2Q on 1Q － Operating Profit （Billions of yen） FY2022 FY2022 Difference Segment 1Q 2Q Major factors (A) (B) (B) - (A) Specialty Products 2.8 2.7 (0.1) Performance Polymers & Chemicals (3.5) Polymers & Chemicals 1.9 0.5 (1.4) Elastmer 2.1 Machinery 0.4 0.9 0.5 Others
Slide 35: Net Sales and Operating Profit by Business Portfolio
Reference: 1st half of the FY2022 Net Sales and Operating Profit by Business Portfolio (Billions of yen) FY2022 FY2022 full-year Business portfolio 2Q (forecast) Progress (A) (B) Specialty business 65.1 148.5 43.8% Net sales Basic business 123.5 275.0 44.9% Machinery business 45.3 101.0 44.8% Other
Slide 36: Mitsubishi UBE Cement
Reference: FY2022 Consolidated Forecast Mitsubishi UBE Cement （Billions of yen） ■Major P/L Items Mitsubishi UBE Cement Corporation and Consolidated Subsidiaries FY2022 FY2022 FY2022 FY2022 Item 2Q Full-year Item 2Q Full-year Results Forecast Results Forecast Total demand for cement in Japan (million
Slide 37: Consolidated Key Indicators
Reference: 1st half of the FY2022 Consolidated Key Indicators (Billions of yen) FY2022 full-year FY2021 Item FY2021 2Q FY2022 2Q (forecast) full-year Capital investment 14.1 14.6 39.0 39.6 Depreciation and amortization 18.0 12.5 24.0 36.5 Research and development expenses 5.7 5.0 11.0 11.8 Adjusted
Slide 38: Consolidated Major Subsidiaries
Reference: 1st half of the FY2022 Consolidated Major Subsidiaries (Billions of yen) Difference of Net Sales operating Subsidiaries Business profit from FY2022 2Q FY2021 2Q Manufacture and sales of nylon, caprolactam, ammonium sulfate and UBE Corporation Europe, S.A. Unipersonal fine chemical product
Slide 39: Announcement of 3rd quarter Business Results
Reference: IR Calendar Announcement of 3rd quarter Business Results ➢ Announcement of 3rd quarter Business Results • February 3, 2023 15:00 ➢ Telephone Conference for 3rd quarter Business Results • February 3, 2023 18:00 ー 18:45 (Note) This schedule is subject to change without notice due to circums
Slide 40: This presentation material contains forward-looking statements concerning UBE’s future plans, strategies, and perform…
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