UBE Corporation · TSE:4208
UBE — Q1 FY2023 Earnings Presentation
26 slides from UBE's earnings presentation, Aug 4, 2023
Slide 1: Financial Results for the 1st Quarter FY2023
Financial Results for the 1st Quarter FY2023 Explanatory material August 4, 2023 1st Quarter: April - Jun
Slide 2: FY2023 1st Quarter Consolidated Result
FY2023 1st Quarter Consolidated Result
Slide 3: Scope of Consolidation
1st Quarter of the FY2023 Scope of Consolidation End of End of Difference Item FY2022 FY2023 1Q Notes (A) (B) (B) - (A) Number of consolidated 36 36 - subsidiaries Number of equity method 15 15 - affiliates Total 51 51 - 3
Slide 4: Environmental Factors: Naphtha Material Price
1st Quarter of the FY2023 Environmental Factors FY2022 1Q FY2023 1Q Difference Item (A) (B) (B) - (A) Exchange Rate Yen/$ 129.6 137.4 7.8 CIF $/t 949 693 (256) Naphtha 86,100 67,300 (18,800) Material Price Domestic Yen/KL Benzene (ACP) $/t 1,227 938 (289) Australian $/t 393.8 216.5 (177.3) Coal 2021
Slide 5: Major P/L Items
1st Quarter of the FY2023 Major P/L Items (Billions of yen) FY2022 1Q FY2023 1Q Difference Percentage Item change (A) (B) (B) - (A) Net sales 116.2 109.2 (7.0) (6.0)% Operating profit 4.4 2.6 (1.7) (39.8)% Ordinary profit 1.5 5.3 3.8 252.0% Profit attributable to 5.0 3.7 (1.3) (26.3)% owners of pare
Slide 6: Net Sales and Operating Profit by Segment
1st Quarter of the FY2023 Net Sales and Operating Profit by Segment O (Billions of yen) r FY2022 1Q FY2023 1Q Difference Percentage Segment (A) (B) (B) - (A) change d Specialty Products 15.3 15.8 0.5 3.5% i Net sales Polymers & Chemicals 71.4 60.3 (11.1) (15.6)% nMachinery 20.3 20.6 0.2 1.2% aOthers
Slide 7: Analysis - Total
1st Quarter of the FY2023 Analysis - Total (Billions of yen) Net Sales Qualitative Information 150.0 116.2 (7.0) Specialty Products 0.5 Net sales: Down 109.2 Polymers & Chemicals (11.1) • Polymers & Chemicals: Decreased sales volume due to declining demand and lower sales prices Machinery 0.2 75.0 •
Slide 8: Analysis - Specialty Products
1st Quarter of the FY2023 Analysis - Specialty Products (Billions of yen) Net Sales Qualitative Information 20.0 +0.5 15.8 Net sales: Up 15.3 • Polyimides: Strong sales of varnish for organic EL panels • Separation membranes: Strong demand mainly for biogas-related applications 10.0 Operating profit
Slide 9: Analysis - Polymers & Chemicals
1st Quarter of the FY2023 Analysis - Polymers & Chemicals (Billions of yen) Net Sales Qualitative Information 100.0 Net sales: Down (11.1) 71.4 • Nylon polymers: Decline in demand for food packaging film and Performance Polymers lower sales prices due to lower prices of raw material caprolactam 60.3
Slide 10: Analysis - Machinery
1st Quarter of the FY2023 Analysis - Machinery (Billions of yen) Net Sales Qualitative Information 30.0 +0.2 20.6 Net sales: Up 20.3 • Molding machines: Strong sales for automotive industry 15.0 • Steel products: Decreased sales volume due to declining demand Operating profit: Up • Lower prices of r
Slide 11: Analysis - Others
1st Quarter of the FY2023 Analysis - Others (Billions of yen) Net Sales Qualitative Information 25.0 +3.3 18.9 Net sales: Up 15.6 • Pharmaceuticals: Consolidation of API Corporation Pharmaceutical 5.1 • Power: Increased sales volume of surplus electricity from in-house 12.5 power plant Power 0.6 etc
Slide 12: Operating Profit - Profit attributable to owners of parent
1st Quarter of the FY2023 Operating Profit - Profit attributable to owners of parent (Billions of yen) FY2022 1Q FY2023 1Q Difference Item (A) (B) (B) - (A) Operating profit 4.4 2.6 (1.7) Non-operating income (expenses) (2.8) 2.7 5.5 Net interests expenses 0.8 0.2 (0.6) Share of profit (loss) of ent
Slide 13: Consolidated Balance Sheet
1st Quarter of the FY2023 Consolidated Balance Sheet (Billions of yen) End of FY2022 End of FY2023 1Q Difference Item (A) (B) (B) - (A) Current assets 283.1 276.8 (6.3) Fixed assets 449.4 457.1 7.7 Total assets 732.7 734.1 1.4 Interest-bearing debt 218.1 219.2 1.0 Other liabilities 132.9 122.5 (10.4
Slide 14: Consolidated Statements of Cash Flows
1st Quarter of the FY2023 Consolidated Statements of Cash Flows (Billions of yen) FY2022 Item FY2023 1Q 1Q Profit before income taxes 5.1 A.Cash flows from operating activities 16.2 7.1 Depreciation and amortization 6.4 Increase in working capital (4.1) etc. B.Cash flows from investing activities 0.
Slide 15: Reference
Reference
Slide 16: Progress of Major P/L Items
Reference: 1st Quarter of the FY2023 Progress of Major P/L Items (Billions of yen) FY2022 Results (A) FY2023 Results (B) Difference (B) - (A) Item 1Q 1Q 1Q Progress Progress 116.2 109.2 Net sales 494.7 545.0 50.3 (7.0) 23.5% 20.0% 4.4 2.6 Operating profit 16.2 30.0 13.8 (1.7) 26.9% 8.7% 1.5 5.3 Ordi
Slide 17: Net Sales
Reference: 1st Quarter of the FY2023 Net Sales (Billions of yen) FY2023 Full-year Segment Progress 1Q 2Q 3Q 4Q Total (forecast) Specialty Products 15.8 - - - 15.8 71.5 22.1% Polymers & Chemicals 60.3 - - - 60.3 313.0 19.3% Machinery 20.6 - - - 20.6 108.5 19.0% Others 18.9 - - - 18.9 88.5 21.4% Adjus
Slide 18: Operating Profit
Reference: 1st Quarter of the FY2023 Operating Profit (Billions of yen) FY2023 Full-year Segment Progress 1Q 2Q 3Q 4Q Total (forecast) Specialty Products 3.0 - - - 3.0 12.5 24.3% Polymers & Chemicals (1.6) - - - (1.6) 12.0 ー% Machinery 0.9 - - - 0.9 6.0 14.8% Others 0.9 - - - 0.9 3.5 25.4% Adjustmen
Slide 19: 1Q on 4Q - Net Sales
Reference: 1st Quarter of the FY2023 1Q on 4Q - Net Sales (Billions of yen) FY2022 FY2023 Difference Segment 4Q 1Q Major factors (A) (B) (B) - (A) Specialty Products 14.8 15.8 1.1 Performance Polymers & Chemicals (7.2) Polymers & Chemicals 68.2 60.3 (7.9) Elastmer (0.6) Machinery 27.6 20.6 (7.0) Pha
Slide 20: 1Q on 4Q - Operating Profit
Reference: 1st Quarter of the FY2023 1Q on 4Q - Operating Profit (Billions of yen) FY2022 FY2023 Difference Segment 4Q 1Q Major factors (A) (B) (B) - (A) Specialty Products 1.7 3.0 1.3 Performance Polymers & Chemicals (2.1) Polymers & Chemicals (0.7) (1.6) (0.9) Elastmer 1.2 Machinery 2.6 0.9 (1.7)
Slide 21: Net Sales and Operating Profit by Business Portfolio
Reference: 1st Quarter of the FY2023 Net Sales and Operating Profit by Business Portfolio (Billions of yen) FY2022 FY2023 FY2023 Difference Business portfolio 1Q 1Q full-year Progress (A) (B) (B) - (A) (forecast) Specialty business 29.7 37.6 7.9 165.0 22.8% Net sales Basic business 60.3 47.0 (13.3)
Slide 22: Mitsubishi UBE Cement
Reference: 1st Quarter of the FY2023 Mitsubishi UBE Cement (Billions of yen) ■Major P/L Items ■Quantitative information Mitsubishi UBE Cement Corporation and Consolidated Subsidiaries FY2022 FY2023 Item Item FY2022 1Q FY2023 1Q 1Q 1Q Total demand for cement in Net Sales 129.7 147.9 Japan (million to
Slide 23: Consolidated Key Indicators
Reference: 1st Quarter of the FY2023 Consolidated Key Indicators (Billions of yen) FY2023 full-year FY2022 Item FY2022 1Q FY2023 1Q (forecast) full-year Capital investment 7.4 4.4 47.5 29.3 Depreciation and amortization 6.2 6.4 24.5 25.5 Research and development expenses 2.4 2.6 11.0 10.4 Adjusted o
Slide 24: Consolidated Major Subsidiaries
Reference: 1st Quarter of the FY2023 Consolidated Major Subsidiaries (Billions of yen) Difference of Net Sales operating Subsidiaries Business profit from FY2023 1Q FY2022 1Q Manufacture and sales of nylon, caprolactam, ammonium sulfate and UBE Corporation Europe, S.A. Unipersonal fine chemical prod
Slide 25: IR Calendar
Reference: IR Calendar Announcement of 1st Half Business Results ➢ Announcement of 1st Half Financial Results • November 6, 2023 15:00 ➢ 1st Half Financial Results Briefing • November 6, 2023 18:00 ー 19:00 (Note) This schedule is subject to change without notice due to circumstances 25
Slide 26: Forward-looking statements
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