HOUSE FOODS GROUP INC. The original disclosure in Japanese was released on November 5, 2021 at 15:00
FY2021 Results Briefing for the First Half
House Foods Group Inc.
Stock code 2810
November 9, 2021
https://housefoods-group.com/
Contents
Part:1 | Part:2 | Appendix |
FY2021 | Full-Year Plan | Supplementary Materials |
First-Half Results | for FY2021 | |
pp. 3−10 | pp. 11−17 | pp. 18−36 |
*We applied the Accounting Standard for Revenue Recognition, etc. from FY2021.
Unless otherwise specified, figures for FY2020 are figures after retrospective application of the standard and figures for FY2021 are figures after application of the standard.
2
Part:1
FY2021 First-Half Results
3
Consolidated Results
FY2021 First-Half Results
Billion yen | FY2020 2Q | FY2021 2Q | Year on year | |||
Results | Comparison | Results | Comparison | Increase/ | % | |
with net sales | with net sales | Decrease | ||||
Net sales | 123.7 | − | 124.1 | − | +0.4 | +0.4% |
Operating profit | 9.9 | 8.0% | 9.0 | 7.3% | -0.9 | -8.8% |
Ordinary profit | 8.8 | 7.1% | 10.3 | 8.3% | +1.5 | +16.9% |
Profit attributable to | 1.0 | 0.8% | 7.2 | 5.8% | +6.2 | +625.2% |
owners of parent | ||||||
EBITA*1 | 16.6 | 13.4% | 14.3 | 11.5% | -2.3 | -14.0% |
The International Food Business surpassed the high level of growth recorded a year earlier.
Each domestic business was affected by the absence of the at-home consumption seen a year earlier and the protraction of the COVID-19 crisis.
We recorded a decrease in operating income in the first half for the first time since FY2014, largely due to a year-on-year decline in the Spice/Seasoning/Processed Food Business, despite a boost to profit after goodwill was fully amortized in the Restaurant Business.
Profit attributable to owners of the parent rose sharply, reflecting the sale of investment securities, in addition to decreases in impairment losses and a share of loss of entities accounted for using the equity method recorded the previous year. We used the gain on sale to finance the purchase of treasury shares of 4 billion yen (acquisition period: May 12 - Oct. 15)
*1 EBITDA: Operating profit (before amortization of goodwill) + Depreciation | 4 |
Copyright (c) House Foods Group Inc. All rights reserved. |
Results by Segment
FY2021 First-Half Results
Billion yen | Net sales | Operating profit | ROS | EBITDA margin | ||||||||||
Results | Year on year | Results | Year on year | Results | Year on year | Results | Year on year | |||||||
Consolidated | 124.1 | +0.4 | +0.4% | 9.0 | -0.9 | -8.8% | 7.3% | -0.7pt | 11.5% | -1.9pt | ||||
Spice / Seasoning / | 57.0 | -2.2 | -3.8% | 5.4 | -2.6 | -32.1% | 9.5% | -4.0pt | 13.4% | -3.3pt | ||||
Processed Food | ||||||||||||||
Business | ||||||||||||||
Health Food | 7.0 | -1.1 | -13.0% | -0.3 | -0.3 | − | -4.7% | -4.1pt | -0.1% | -3.7pt | ||||
Business | ||||||||||||||
International | 19.4 | +1.2 | +6.4% | 3.2 | +0.3 | +8.6% | 16.6% | +0.3pt | 20.3% | +0.0pt | ||||
Food Business | ||||||||||||||
Restaurant | 22.1 | +0.4 | +2.0% | 0.5 | +2.0 | − | 2.4% | +9.0pt | 8.6% | +0.7pt | ||||
Business | ||||||||||||||
Other Food | 22.9 | +2.1 | +10.1% | 0.8 | -0.1 | -13.2% | 3.5% | -0.9pt | 4.5% | -1.0pt | ||||
Related Business | ||||||||||||||
Adjustment | -4.3 | +0.0 | − | -0.6 | -0.1 | − | − | − | − | − | ||||
(elimination) |
Spice / Seasoning / Processed Food Business
Health Food Business
International Food Business
Restaurant Business
- Sales were affected by the absence of special demand arising from at-home consumption the previous fiscal year. Sales of curry roux products returned to previous levels.
- Preparations were made for achievement of the medium-term business plan on the assumption of changing needs and the growing tendency for people to eat out or buy food to eat at home.
- Sales of the Ukon no Chikara series continued to struggle due to fewer opportunities to drink out.
- The segment posted a first-half operating loss, largely due to decreased sales, which offset cost improvements resulting from withdrawal from unprofitable business.
- United States: Productivity improved thanks to stable operations at the LA Plant. Raw materials and packaging costs rose from the second quarter.
- China: Sales of products for food service use grew sharply, reflecting the opening up of new markets such as the delivery market. Sales of products for household use reflect the absence of demand seen the previous fiscal.
- Thailand: Deliveries in the traditional market were encouraged partly due to government measures to stimulate consumption. Both sales and profits increased, partly due to a lighter tax burden.
- Sales in Japan fell, with restaurants called upon to shorten their operating hours for long periods of time. Overseas, sales recovered from the dramatic slump of the previous year.
- Profit was boosted (approx. 1.8 billion yen) by the fact that, the previous fiscal year, impairment losses were recorded and goodwill was fully amortized.
Other Food Related | - Delica Chef Corporation: Sales of prepared food were brisk, and sales of baked bread also recovered. | |
Business | - | Vox Trading Co., Ltd.: Sales fell due to the impact of sluggish food service demand. |
Adjustment (elimination) | - | Head office costs such as personnel expenses increased. |
Copyright (c) House Foods Group Inc. All rights reserved. 5
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House Foods Group Inc. published this content on 12 November 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 12 November 2021 06:06:28 UTC.
