Financial Results for Second Quarter FY2019 (for the year ending March 31, 2020)

October. 31, 2019

Table of Contents

Ⅰ. Consolidated Results for First Quarter FY2019

•

Summary of Financial Results

3

•

Financial Results by Segment

4

•

Details of Change in Profit

5

•

Summary of Income Statement

6

  • Financial Results/Forecast by Segment

− Aerospace Systems

7

− Energy System & Plant Engineering

8

− Precision Machinery & Robot

9

− Ship & Offshore Structure

10

− Rolling Stock

11

− Motorcycle & Engine

12

•

Summary of Balance Sheet

13

•

Summary of Cash Flows

14

Ⅱ. Forecast for FY2019

•

Consolidated Operating Performance

15

•

Forecast by Segment

16

•

Before-tax ROIC by Segment

17

•

R&D/CAPEX/Number of Employees

18

•

Historical Data

19

•

Market Overview

20

© 2019 KAWASAKI HEAVY INDUSTRIES, LTD. All Rights Reserved

2

Summary of Financial Results

[Billion Yen]

FY2018

FY2019

Change

2Q

2Q

Orders Received

※

730.4

657.3

－

73.1

Net Sales

688.1

736.5

+

48.4

Operating Income

8.4

8.6

+

0.2

Recurring Profit

0.2

0.8

+

0.6

Net Income (loss) Attributable to

-3.5

-3.7

－

0.1

Owners of Parent

※Revised order received of FY2018 2Q due to a change and a refinement of calculation methods of order received in the Precision Machinery & Robot segment (719.8 billion yen → 730.4 billion yen)

<> exchange rates>

Yen/US$

109.80

108.45

Yen/EUR

128.93

122.84

vs. FY2018.2Q

  • Orders Received
    • Decreased mainly in Aerospace systems segment
  • Net Sales
    • Increased as a whole due to an increase in Aerospace Systems and Rolling Stock segment and other factors, despite a decrease in Energy System & Plant Engineering and other factors
  • Profits
    • Operating income remained as a whole due to a decrease in Precision Machinery & Robot segment, despite an increase in Energy System & Plant Engineering and an improvement in Rolling Stock segments
    • Recurring profit increased due to a decrease payment for jet engines despite an increase in losses on foreign exchange
    • Net income attributable to owners of parent remained due to an increase in tax expense despite recognized extraordinary income from sales of fixed assets

(Appendix)

Net Sales in Foreign Currencies for Second

Quarter FY2019

[Billion]

US$

EUR

1.00

0.11

© 2019 KAWASAKI HEAVY INDUSTRIES, LTD. All Rights Reserved

3

Financial Results by Segment

[Billion Yen]

Orders Received

Net Sales

Operating Income

FY2018

FY2019

Change

FY2018

FY2019

Change

FY2018

FY2019

Change

2Q

2Q

2Q

2Q

2Q

2Q

Aerospace Systems

201.1

158.7

－

42.3

210.2

250.8

+

40.6

9.4

9.7

+

0.2

Energy System &

146.7

124.0

－

22.7

103.9

95.6

－

8.3

2.2

5.0

+

2.8

Plant Engineering

Precision Machinery & Robot

※1 115.4

104.6

－

10.8

102.1

98.2

－

3.9

9.6

3.2

－

6.4

Ship & Offshore Structure

16.5

26.5

+

10.0

39.7

37.1

－

2.6

1.2

-1.4

－

2.7

Rolling Stock

60.5

39.1

－

21.3

45.4

59.3

+

13.8

-8.8

-4.3

+

4.5

Motorcycle & Engine

144.4

147.2

+

2.8

144.4

147.2

+

2.8

-4.6

-3.3

+

1.2

Others

45.6

57.0

+

11.4

42.1

48.1

+

5.9

1.0

0.8

－

0.1

Eliminations and corporate※2

-

-

-

-

-

-

-1.6

-0.9

+

0.6

Total

※1 730.4

657.3

－

73.1

688.1

736.5

+

48.4

8.4

8.6

+

0.2

※1 Revised order received in FY2018 2Q of Precision Machinery & Robot segment due to change in calculation method of order received and refinement

Precision Machinery & Robot

(before)

104.8

(after)

115.4

Total

(before)

719.8

(after)

730.4

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

© 2019 KAWASAKI HEAVY INDUSTRIES, LTD. All Rights Reserved

4

Details of Change in Profit

  • Operating Profit

+0.2Billion yen (FY2018.2Q 8.4 Billion yen ⇒ FY2019.2Q 8.6 Billion yen)

Loss on Rolling Stock

Project in FY2018.2QEffects of

foreign exchange rates

－1.4

－3.7

+8.5

+2.8

Long Island Rail

Road Project

Change in Sales

Change in product mix and other factors

Change in selling, general and

－5.6

administrative expenses

－0.4

8.4

8.6

FY2018.2Q

+0.2 Billion yen

FY2019.2Q

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5

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Kawasaki Heavy Industries Ltd. published this content on 31 October 2019 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 31 October 2019 03:11:06 UTC