Fujikura Ltd · TSE:5803
Fujikura — H1 FY2019 Earnings Presentation
22 slides from Fujikura's earnings presentation, Oct 31, 2019
Slide 1: 1st Half FY2019 Financial Results
st. 1 Half FY2019 Financial Results October 31, 2019
Slide 2: Contents
Contents 1. Review of 1H FY2019 Financial Results and FY2019 Forecasts 2. By Segment 3. Shareholder Return 1
Slide 3: 1. Review of 1H FY2019 Financial Results and FY2019 Forecasts
1. Review of 1H FY2019 Financial Results and FY2019 Forecasts 2
Slide 4: 1H FY2019 Financial Results and FY2019 Forecasts
1H FY2019 Financial Results and FY2019 Forecasts (Unit : Yen in billion) FY2019 FY2018 FY2019 （Forecasted on May 14） 2H FY2019 1H 2H Full Year 1H 1H Full year Forecasts Forecasts Net Sales 363.6 347.1 710.7 343.4 336.5 680.0 340.0 690.0 Operating Income 14.2 13.4 27.6 5.7 9.7 15.5 13.0 28.0 Ratio of
Slide 5: Review of 1H FY2019 Results
Review of 1H FY2019 Results 【YoY basis】 Operating profit and ordinary profit declined the impact of intensifying competition for optical products, especially in China, in the information and communications business division of Energy and Information and Communications Company, and stagnant demand
Slide 6: Review of 1H FY2019 Results: Full Year Forecast
Review of 1H FY2019 Results 【Full Year Forecast】 Continuing from the 1H, intensification of competition for both optical-related products and FPCs is expected, and business structure improvement costs for profit improvement in Telecommunications and Automotive Segment will be recorded, sales, oper
Slide 7: 1H FY2019 Contributing Factors to Net Sales Change
1H FY2019 Contributing Factors to Net Sales Change (year-on-year basis) Net Sales (Unit : Yen in billion) Effects of Copper Prices Effects of Power & Forex (3.5) Telecommunication Systems (6.2) Business Electronics (5.6) Business Automotive Other Products 363.6 Business +0.5 (9.4) +4.1 343.4 (20.1)
Slide 8: 1H FY2019 Contributing Factors to Operating Income Change
1H FY2019 Contributing Factors to Operating Income Change (year-on-year basis) Operating Income (Unit : Yen in billion) Power & Telecommunication Systems (0.8) Business (0.3) (1.5) Electronics Business Automotive Products Business 14.2 (6.9) +1.1 5.7 (8.5) lower than 1H FY2018 1H FY2018 1H FY2019 Re
Slide 9: 1H FY2019 Extraordinary Profit and Loss
1H FY2019 Extraordinary Profit and Loss (Unit: Yen in billion) FY2018 1H Full FY2019 1H 2H year Operating Income 14.2 13.4 27.6 5.7 Share of other comprehensive Extraordinary profit -0.4 income of entities accounted for 0.4 0.8 1.2 0.8 using equity method ・Gain on valuation and sale of Ordinary Inco
Slide 10: Consolidated B/S (1)
Consolidated B/S (1) （Unit: Yen in billion） As of March As of Sep. Change 31, 2019 30, 2019 〈Assets〉 638.3 649.2 +10.9 Current Assets 323.2 325.2 +1.9 Increased due to seasonal Cash and Deposits 36.7 36.8 +0.0 factors at Electronics Notes and Account 141.5 152.1 +10.5 Receivable Inventories 117.8 11
Slide 11: Consolidated B/S (2)
Consolidated B/S (2) （Unit: Yen in billion） As of March As of Sep. Change 31, 2018 30, 2019 Total 638.3 649.2 +10.9 (Treasury Stock) ((6.3)) ((6.2)) (+0.0) 〈Liability〉 397.4 421.6 +24.2 Notes and Account 64.9 72.3 +7.3 Increased due to working Payable capital and investments in affiliates Interest-b
Slide 12: 2. By Segment
F Fujikura 2. By Segment
Slide 13: Financial Results and Forecasts by Segment
Financial Results and Forecasts by Segment （Unit: Yen in billion） Net Sales Operating Income and Ratio of Operating Income to Net Sales 1H FY2018 1H FY2019 2H FY2019 1H FY2018 1H FY2019 2H FY2019 Segment Change Results Change Results Results Forecast Results Forecast Power & 7.1 4.4 (2.7) 6.9 Teleco
Slide 14: Power & Telecommunication Systems Company
Power & Telecommunication Systems Company In 1H, Compared to the same period of the previous year, in the Power business, there was a deficit reduction due to a reaction to the increase in the costs of Bangladesh transmission line construction in FY2018, but in the Telecommunications business, the
Slide 15: Electronics Business Subcompany
Electronics Business Subcompany Compared to the same period last year, FPC sales in the first half declined due to intensive price competition in smartphones market. Operating profit declined due to an increase in fixed costs associated with the decline in sales. In 2H, sales are expected to dec
Slide 16: Automotive Products Subcompany
Automotive Products Subcompany Sales in 1H were almost the same as the previous year. Continue to improve productivity. In 2H, productivity is expected to improve mainly in Europe, and the deficit is expected to decrease. （Unit: Yen in billion） Net sales and Ratio of Operating Income to Net Sale
Slide 17: Real Estate Business Company
Real Estate Business Company Revenues from leasing real estate properties continue to contribute to consolidated operating income. （Unit: Yen in billion） Net sales and Ratio of Operating Income to Net Sales Real Estate Ratio of Operating Income to Net Sales Stable revenues form leasing properties
Slide 18: CAPEX and Depreciation Cost
CAPEX and Depreciation Cost （Unit: Yen in billion） FY2018 FY2019 1H Forecasts 1H Full year FY2019 （5.14） CAPEX 33.2 55.7 19.6 37.0 (for manufacturing 32.4 54.3 18.7 35.5 business) (for real estate business) 0.8 1.3 0.8 1.5 Depreciation Cost 15.4 31.5 17.7 37.0 (for manufacturing 14.4 29.4 16.7 35.0
Slide 19: Interest-bearing Debts, Net Financial Profit and Free Cash Flow
Interest-bearing Debts, Net Financial Profit and Free Cash Flow （Unit: Yen in billion） FY2018 FY2019 1H 2H Full year 1H Interest-bearing 269.4 253.5 253.5 273.6 Debts Net Finansial (0.9) (1.0) (2.0) (1.0) Profit/Loss Free Cash Flow (18.8) 16.4 (2.3) (18.3) Free Cash Flow = Cash Flow by Operating Act
Slide 20: 3. Shareholder Return
3. Shareholder Return F Fujikura i 9
Slide 21: Profit Return
Profit Return Basic Policy of 2020 Mid-term Dividend payout ratio 20% or higher FY2019 Forecasts Dividends 10.0 yen per share (Interim 5.0 yen per share, Year-end 5.0 yen per share, 2.8 billion yen) FY2018 Result 12.0 yen per share (Interim 7.0 yen per share, Year-end 5.0 yen per share) (2.0ye
Slide 22: Special Notes
Special Notes: Statements in this presentation that relate to future to results and events (including statements regarding Fujikura's revenue and earnings guidance) and based on Fujikura's current expectations. Actual results in future periods may differ materially form those currently expected beca