ULVAC, Inc.
Business Results
The Third Quarter of FY2022
(July 2022 - March 2023)
May 12, 2023 | Securities Code:6728 |
Breakthrough 2022 |
Disclaimer regarding forward-looking statements
Forward-looking statements of the company in this presentation are based on information that was available at the time these documents were prepared.
There are several factors that directly or indirectly impact the company performance, such as the global economy; market conditions for FPDs, semiconductor, electronic devices, and raw materials; trends in capital expenditures and fluctuations in exchange rates. Please note that actual business results may differ significantly from these forecasts and future projections.
Note:
This document has been translated from the Japanese original for reference purposes only. In the event of any discrepancy between this translated document and the Japanese original, the original shall prevail.
© 2023 ULVAC, Inc. | Confidential and Proprietary Information | 2 |
Summary
- No change in mid to long-term growth strategy (focusing development investment on growth areas such as semiconductor and electronics, targeting net sales of ¥300 billion or more, gross profit margin of 35% or more, and operating profit margin of 16% or more in FY6/2026)
- Steady shift towards semiconductor and electronics (power devices, various electronic devices and logic increasing, doubling from FY19)
-
Q3 YTD orders down YoY due to a YoY decline in FPD orders and the shift of FPD and electronics orders from 3Q to 4Q
Net sales and operating profit both declined YoY mainly due to lower order received - Downward revision of full-year earnings forecast for FY2022. Dividend forecast unchanged
- Downward revision to net sales of ¥215.0 billion and operating profit of ¥17.5 billion Dividend forecast unchanged in view of stable dividend
- Intensification of initiatives in response to longer lead times for parts and materials Strengthening of management through reorganization in July
- High level of orders continues due to growth in semiconductor and electronics. Order backlog is expected to exceed ¥150 billion at the end of the fiscal year
- Aiming for further expansion of orders and sales in the next fiscal year and onwards through continuous growth in power devices, various electronic devices, logic devices, etc., and investment in Roll-to-Roll equipment for batteries
© 2023 ULVAC, Inc. | Confidential and Proprietary Information
Breakthrough 2022
3
Revision of full-year forecast for FY2022
- Net sales, operating profit and profit attributable to owners of the parent have been revised downwards due to
the delay in sales contribution caused by the delayed timing of FPD and electronics orders, and the slowdown in semiconductor investment.
- Dividend forecast remain unchanged.
(Unit: ¥1 billion)
Orders Received
Net Sales
Operating Profit
Operating Profit Margin
Profit attributable to owners of parent
To net sales ratio
FY2021 | FY2022 | |||
Actual | Previous | Revised | Vs.Previous | YoY |
Forecast | Forecast | Forecast | ||
270.1 | 260.0 | 250.0 | -10.0 | -20.1 |
241.3 | 230.0 | 215.0 | -15.0 | -26.3 |
30.1 | 24.0 | 17.5 | -6.5 | -12.6 |
12.5% | 10.4% | 8.1% | -2.3pt | -4.3pt |
20.2 | 20.0 | 16.0 | -4.0 | -4.2 |
8.4% | 8.7% | 7.4% | -1.3pt | -0.9pt |
© 2023 ULVAC, Inc. | Confidential and Proprietary Information
Breakthrough 2022
4
Revised forecast of orders received (Quarterly)
- 3Q orders: FPD (¥12.5 billion), Electronics (¥8.0 billion), total of ¥20.5 billion declined temporarily due to postponement of investment from 3Q to 4Q.
- Orders for the full year are expected to be ¥10 billion lower than previously forecast due to the postponement of investments in semiconductor (¥4 billion in 3Q, ¥3.5 billion in 4Q) and FPDs (¥3 billion in 4Q) to the next fiscal year.
Orders received | (Unit: ¥1 billion) | Factors of Order Changes | +7.5 | +10.5 | ||||||||||||||||||
+3.0 | ||||||||||||||||||||||
Semiconductor & Electronics | Semiconductor | |||||||||||||||||||||
Component | Materials | -3.5 | 77.5 | |||||||||||||||||||
Device Production Equipment | FPDs・ | FPD | ||||||||||||||||||||
FPD Production Equipment | Industrial Equipment | Others | 68.0Semiconductor | |||||||||||||||||||
260.0 | 63.5 | Electronics -3.0 | ||||||||||||||||||||
250.0 | ▲10.0 | -4.0 | +20.5 | |||||||||||||||||||
25.0 | +1.0 | FPDs・ | ||||||||||||||||||||
77.5 | 26.0 | Electronics | 43.4 | |||||||||||||||||||
20.0 | ▲0.5 | -20.5 | ||||||||||||||||||||
6.7 | 19.5 | |||||||||||||||||||||
66.6 | 25.0 | |||||||||||||||||||||
25.0 | ||||||||||||||||||||||
62.5 | 5.8 | |||||||||||||||||||||
6.1 | ||||||||||||||||||||||
5.7 | 33.0 | |||||||||||||||||||||
7.1 | 33.0 | |||||||||||||||||||||
4.8 | 9.3 | Semiconductor | ||||||||||||||||||||
7.5 | 4.5 | 3Q | 3Q | 4Q | 4Q | FY23 | ||||||||||||||||
43.4 | ||||||||||||||||||||||
5.7 | Electronics | 59.0 | Previous | Actual | Previous | Revised | ||||||||||||||||
9.1 | Time lag | 56.0 | ▲3.0 | Forecast | Forecast | Forecast | ||||||||||||||||
8.2 | 6.1 | 3Q⇒4Q(¥5bn order received) | ||||||||||||||||||||
12.5 | 26.0 | 24.0 | LCD for IT panel | Approx. ¥10.0bn | Approx. | |||||||||||||||||
4.4 | ||||||||||||||||||||||
9.9 | ||||||||||||||||||||||
FPDs | Battery | Approx. ¥2.5bn | 3Q⇒4Q | ¥12.5bn | ||||||||||||||||||
13.7 | 6.2 | |||||||||||||||||||||
38.5 | ▲7.5 | |||||||||||||||||||||
9.2 | 31.0 | Approx. | ||||||||||||||||||||
13.8 | OLED・Capacitors | Approx. ¥3.0bn Postponed to next fiscal year | ||||||||||||||||||||
6.5 | ¥3.0bn | |||||||||||||||||||||
29.3 | 6.4 | 4.6 | Electronics | Power(IGBT・SiC) | Approx. ¥4.5bn | 3Q⇒4Q(¥1.2bn order received)Approx. | ||||||||||||||||
23.4 | 8.0 | 24.0 | 8.0 | Electronics Device | Approx. ¥3.5bn | 3Q⇒4Q | ¥8.0bn | |||||||||||||||
14.8 | 59.5 | 59.5 | ||||||||||||||||||||
13.8 Time | Memory | Approx. ¥4.5bn | Postponed to next fiscal year | |||||||||||||||||||
9.2 | Time lag | Semiconductor | Approx. | |||||||||||||||||||
lag | Q4 E | Logic | Approx. ¥3.0bn | Postponed to next fiscal year | ¥7.5bn | |||||||||||||||||
Q1 | Q2 | Q3 | Q3 | Q4 E | Previous | Revised | ||||||||||||||||
Forecast | Forecast※Changes from previous forecast | Breakthrough 2022 | 5 | |||||||||||||||||||
© 2023 ULVAC, Inc. | Confidential and Proprietary Information |
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Ulvac Inc. published this content on 12 May 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 12 May 2023 06:32:10 UTC.