Financial Results for First Quarter FY2023

For the Year ending March 31, 2024

0

August 8, 2023

  • Table of Contents

1 Consolidated Results for First Quarter FY2023

Summary

3

Segment

4

Statement of Comprehensive income

5

Details of Change in business profit

7

Statement of financial position

9

Cash Flows

11

  • Forecasts for FY2023

Summary

13

Segment

14

Notice

3

4

Details by segment

Aerospace Systems

15

Rolling Stock

19

Energy Solution & Marine Engineering

23

（ES&M）

27

Precision Machinery & Robot

Powersports & Engine

31

（PS&E）

Shareholder Return and others

Shareholder Return

35

Project Topics

36

Appendix

40

Figures recorded in the business forecasts are forecasts that reflect the judgment of the Company based on the information available at the time of release and include risks and uncertainties. Accordingly, the Company cautions investors not to make investment decisions solely on the basis of these forecasts. Actual business results may differ materially from these business forecasts due to various important factors resulting from changes in the external environment and internal environment. Important factors that may affect actual business results include, but are not limited to, economic conditions, the yen exchange rate against the U.S. dollar and other currencies, the tax system, and laws and regulations. Our company has adopted IFRS (International Financial Reporting Standards) since the first quarter of FY2022.

© Kawasaki Heavy Industries, Ltd. All Rights Reserved

2

1

Consolidated Results for First Quarter FY2023

-Summary-

Revenue and profits increased YoY, and orders received and revenue hit a record high in Q1

The overall results are as expected, though there are differences in the degree of achievement of each business

(Billion Yen)

Revenue (billion yen)

FY22 Q1

FY23 Q1

Change

Orders Received

412.0

457.3

+

45.2

Revenue

350.3

405.3

+

54.9

Business Profit

4.5

10.2

+

5.6

350.3

409.4 436.5

529.2

[margin]

[1.3%]

[2.5%]

[+ 1.2pt]

Profit Before Tax

10.6

14.9

+

4.3

[margin]

[3.0%]

[3.7%]

[+ 0.6pt]

Profit Attributable to

5.4

9.0

+

3.6

Owners of Parent

[margin]

[1.6%]

[2.2%]

[+ 0.6pt]

Weighted-average

124.76

132.09

+

7.33

exchange rates (USD/JPY)

US dollar-based transaction (B$)

0.41

0.45

+

0.04

Q1

Q2

Q3

Q4

Q1

Business profit (billion yen) & margin

11.4%

50.0

6.4%

26.2

2.5%

1.3%

0.2% 1.4

4.5

Q1

Q2

Q3

Q4

Q1

  • Amount in foreign currency calculated by deducting dollar-denominated purchases from dollar-denominated revenue of Kawasaki Heavy Industries, Ltd, Kawasaki Railcar manufacturing Co., Ltd., and Kawasaki Motors, Ltd.(to include dollar-denominated revenue of loss provisions). The estimated impact on business profit due to a 1 yen fluctuation in the exchange rate. See page 42 for the breakdown of these figures by segment.

© Kawasaki Heavy Industries, Ltd. All Rights Reserved

3

1

Consolidated Results for First Quarter FY2023

-Segment-

Revenue increased and profit improved in Aerospace systems due to the passenger demand recovery and the depreciation of the yen, while profit in ES&M increased due to a significant improvement in ship & offshore business ①

Revenue and profit in Precision Machinery & Robot fell due to the slump in the market of semiconductor and Chinese construction machinery ②

(Billion Yen)

Orders Received

Revenue

Business Profit (Loss)

FY22 Q1

FY23 Q1

Change

FY22 Q1

FY23 Q1

1Change

FY22 Q1 FY23 Q1 1Change

Aerospace Systems

60.4

118.7

+

58.2

63.4

80.2

+

16.7

- 8.9

- 4.6

+

4.2

Rolling Stock

11.7

16.4

+

4.7

26.4

43.5

+

17.1

- 0.1

- 0.0

1

+

0.1

Energy Solution &

124.5

102.3

-

22.1

63.5

70.7

+

7.2

0.0

5.8

+

5.8

Marine Engineering

2

2

Precision Machinery & Robot

67.9

54.0

-

13.9

52.6

49.3

-

3.2

1.4

- 2.5

-

4.0

Powersports & Engine※1

126.0

143.9

+

17.9

126.0

143.9

+

17.9

12.8

14.3

+

1.4

Others

21.3

21.7

+

0.4

18.3

17.5

-

0.7

1.3

0.6

-

0.7

Eliminations and corporate※2

-

-

-

-

-

-

- 2.0

- 3.3

-

1.3

Total

412.0

457.3

+

45.2

350.3

405.3

+

54.9

4.5

10.2

+

5.6

※1 From Q3 FY'22, the reportable segment name of 'Motorcycle & Engine' has been changed to 'Powersports & Engine'.

※2 "Eliminations and corporate" includes some expenses incurred at Head Office which were not allocated to each industry segment for internal reporting.

© Kawasaki Heavy Industries, Ltd. All Rights Reserved

4

1

Consolidated Results for First Quarter FY2023

-Statement of comprehensive income-

(Billion Yen)

FY22 Q1

%

FY23 Q1

%

Change

Revenue

350.3

100.0

405.3

100.0

+

54.9

Cost of sales

292.9

83.6

339.2

83.7

+

46.2

Gross profit

57.3

16.4

66.0

16.3

+

8.7

Selling, general and administrative expenses

53.5

15.3

62.3

15.4

+

8.7

Salaries and allowances

15.6

17.7

+

2.1

Research and development expenses

10.7

11.3

+

0.5

Others

27.1

33.2

1

+

6.0

0.6

6.0

+

5.4

Other income and other expenses

0.1

0.4

+

0.2

Gain on sale of property, plant and equipment

0.4

0.7

+

0.2

Others

- 0.2

- 0.2

-

0.0

Business Profit (Loss)

4.5

1.3

10.2

2.5

+

5.6

Details

  • Improvement in business performance mainly at a joint venture in China in Ship & offshore structure (in addition to cost reductions, the impact of falling steel prices and the weakening US dollar/ Chinese yuan)

© Kawasaki Heavy Industries, Ltd. All Rights Reserved

5

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Kawasaki Heavy Industries Ltd. published this content on 08 August 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 08 August 2023 02:37:21 UTC.