Kurita Water Industries : Financial Summary (153KB)

Consolidated Financial Summary

For the Fiscal Year Ended March 31, 2023

Contents

Results of Operations………………………………………………1

Orders and Net Sales of Water Treatment Facilities……………2

Results of Operations - New Segment……………………………3

Orders and Net Sales - New Segment……………………………4

May 11, 2023

Forecasts contained in this report are based on management's assumption and beliefs in light of the information currently available.

But they may be subject to change due to a wide range of factors, and no warranty is made regarding their attainability.

Results of Operations

									Unit: Billions of yen
			2022/3				2023/3
								Full Year
		1st Half	Change from	Full Year	Change from	1st Half	Change from	Forecast	Full Year	Change from
		Result	(Announced	Result
			Previous Year		Previous Year	Previous Year	Previous Year
					in February)
Orders	147.8	+20.3	315.2	+52.9	200.4	+52.6	375.0	374.3	+59.0
	Water Treatment Chemicals	58.7	+6.3	118.4	+14.8	69.2	+10.5	136.5	136.9	+18.5
	Water Treatment Facilities	89.1	+14.0	196.8	+38.1	131.2	+42.1	238.5	237.4	+40.6
Net Sales	135.2	+4.2	288.2	+20.5	160.7	+25.4	350.0	344.6	+56.4
	Water Treatment Chemicals	58.1	+6.6	117.7	+14.4	68.4	+10.3	136.0	136.1	+18.5
	Water Treatment Facilities	77.1	(2.4)	170.5	+6.0	92.3	+15.1	214.0	208.5	+37.9
Cost of Sales Ratio	63.0%	(2.0pp)	63.8%	(0.8pp)	64.6%	+1.6pp	65.6%	65.3%	+1.5pp
Gross Profit	50.0	+4.2	104.3	+9.6	56.9	+6.9	120.5	119.7	+15.4
SG&A Expenses	35.1	+2.9	71.3	+6.1	40.3	+5.2	81.5	81.1	+9.8
Business Profit	14.9	+1.3	32.9	+3.5	16.6	+1.7	39.0	38.6	+5.6
Business Profit Margin	11.0%	+0.6pp	11.4%	+0.4pp	10.3%	(0.7pp)	11.1%	11.2%	(0.2pp)
	Water Treatment Chemicals	7.5	+1.1	13.6	+1.3	8.4	+0.9	15.7	16.3	+2.7
	Water Treatment Facilities	7.4	+0.2	19.4	+2.3	8.2	+0.8	23.3	22.4	+3.0
Net of Other Income and Expenses	(0.1)	(2.6)	2.8	+0.7	(0.3)	(0.1)	(1.0)	(9.5)	(12.3)
Operating Profit	14.7	(1.3)	35.7	+4.2	16.3	+1.6	38.0	29.1	(6.7)
Operating Profit Margin	10.9%	(1.3pp)	12.4%	+0.6pp	10.2%	(0.7pp)	10.9%	8.4%	(4.0pp)
	Water Treatment Chemicals	7.3	+0.9	14.6	+2.7	8.6	+1.3	15.7	7.6	(7.0)
	Water Treatment Facilities	7.5	(2.2)	21.2	+1.5	7.8	+0.3	22.3	21.5	+0.4
Net of Finance Income and Costs	(3.7)	(3.1)	(5.6)	(4.2)	1.1	+4.8	0.8	0.9	+6.5
Share of profit (loss) of investments	0.1	+0.1	-0.1	+0.9	0.1	(0.0)	0.2	0.2	+0.3
accounted for using equity method
Profit Before Tax	11.2	(4.2)	30.1	+0.9	17.5	+6.3	39.0	30.2	+0.1
Profit Attributable to Owners of Parent	5.7	(4.9)	18.5	(0.6)	12.4	+6.7	27.6	20.1	+1.7
Basic Earnings per Share (yen)	50.78	(43.66)	164.38	(5.56)	110.15	+59.37	245.56	179.14	+14.76
Number of Employees	7,760	+191	7,661	+196	8,042	+282	-	7,784	+123

Note 1. Orders and net sales are figures for external customers.

Note 2. Business profit and operating profit by segment indicates figures prior to adjustments and eliminations between segments.

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Orders and Net Sales of Water Treatment Facilities

Unit: Billions of yen

					2022/3				2023/3
										Full Year
				1st Half	Change from	Full Year	Change from	1st Half	Change from	Forecast	Full Year	Change from
				Result	（Announced	Result
					Previous Year		Previous Year		Previous Year	in February）		Previous Year
	Domestic	61.4	+7.7	130.8	+16.7	75.2	+13.9	141.6	136.2	+5.4
		For the Electronics Industry	32.6	+5.0	86.7	+26.3	41.9	+9.3	78.5	80.3	(6.3)
			Facilities	3.3	+1.6	25.5	+18.9	8.8	+5.5	12.7	12.7	(12.8)
			Maintenance	9.1	+1.7	20.1	+3.1	10.3	+1.2	18.8	20.6	+0.5
			UPWS Business	15.3	+1.2	31.5	+3.3	18.1	+2.7	37.3	37.8	+6.3
			Precision tool cleaning	4.8	+0.4	9.6	+0.9	4.7	(0.1)	9.6	9.3	(0.3)
		For General Industries	28.8	+2.6	44.2	(9.6)	33.4	+4.5	63.1	55.9	+11.7
			Energy / Infrastructure	25.1	+2.2	36.4	(10.2)	30.4	+5.3	54.1	49.8	+13.4
			Soil Remediation	2.3	+0.3	5.1	+0.4	1.9	(0.3)	6.4	4.0	(1.1)
			Others	1.5	+0.1	2.8	+0.1	1.0	(0.4)	2.6	2.1	(0.7)
	Overseas	27.8	+6.3	66.0	+21.4	56.0	+28.2	96.9	101.2	+35.2
			Facilities	11.6	+2.6	32.5	+13.2	32.7	+21.1	53.6	61.8	+29.2
			Maintenance	7.5	+2.1	15.1	+4.3	11.8	+4.3	18.1	17.6	+2.5
			UPWS Business	1.6	+0.1	3.2	+0.2	1.8	+0.2	3.5	3.4	+0.2
			Precision tool cleaning	7.1	+1.6	15.1	+3.8	9.7	+2.6	21.7	18.4	+3.3
		Total Orders	89.1	+14.0	196.8	+38.1	131.2	+42.1	238.5	237.4	+40.6
	Domestic	53.7	(2.5)	116.5	(2.6)	56.9	+3.2	137.5	132.5	+15.9
		For the Electronics Industry	30.5	+1.4	65.1	+6.1	34.8	+4.3	83.6	81.5	+16.4
			Facilities	2.6	+0.2	6.9	+1.1	3.9	+1.3	15.2	14.7	+7.9
			Maintenance	7.8	(0.4)	17.2	+0.7	8.2	+0.4	21.5	19.8	+2.5
			UPWS Business	15.3	+1.2	31.5	+3.3	18.1	+2.7	37.3	37.8	+6.3
			Precision tool cleaning	4.8	+0.4	9.5	+0.9	4.6	(0.1)	9.6	9.2	(0.3)
		For General Industries	23.3	(3.9)	51.5	(8.7)	22.2	(1.1)	53.9	51.0	(0.5)
			Energy / Infrastructure	20.1	(2.9)	44.3	(6.0)	18.8	(1.3)	45.8	44.2	(0.1)
			Soil Remediation	1.8	(1.2)	4.4	(2.8)	2.3	+0.5	5.5	4.7	+0.3
			Others	1.4	+0.1	2.8	+0.1	1.0	(0.4)	2.5	2.1	(0.7)
	Overseas	23.4	+0.2	54.0	+8.6	35.4	+12.0	76.5	76.0	+22.0
			Facilities	8.4	(2.9)	21.5	+1.4	15.2	+6.7	33.7	37.4	+15.9
			Maintenance	6.3	+1.4	14.2	+3.3	8.7	+2.4	17.6	16.8	+2.6
			UPWS Business	1.6	+0.1	3.2	+0.2	1.8	+0.2	3.5	3.4	+0.2
			Precision tool cleaning	7.1	+1.6	15.1	+3.8	9.7	+2.6	21.7	18.4	+3.3
		Total Sales	77.1	(2.4)	170.5	+6.0	92.3	+15.1	214.0	208.5	+37.9

Note. UPWS Business stands for Ultrapure Water Supply Business.

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Results of Operations - New Segments

								Unit: Billions of yen
		2023/3			2024/3
		1st Half		Full Year	1st Half			Full Year
			Change from		Change from
		Result		Result	Forecast		Forecast
			Previous Year		Previous Year
Orders	200.4		374.3	175.0	(25.4)		350.0	(24.3)
	Electronics Industries	93.5		169.9	68.0	(25.5)		140.0	(29.9)
	General Industries	106.9		204.4	107.0	+0.1		210.0	+5.6
Net Sales	160.7		344.6	181.0	+20.3		375.0	+30.4
	Electronics Industries	67.4		149.3	81.0	+13.6		162.5	+13.2
	General Industries	93.3		195.3	100.0	+6.7		212.5	+17.2
Cost of Sales Ratio	64.6%		65.3%	67.5%	+3.0pp		66.4%	+1.1pp
Gross Profit	56.9		119.7	58.8	+1.9		126.0	+6.3
SG&A Expenses	40.3		81.1	42.6	+2.3		86.0	+4.9
Business Profit	16.6		38.6	16.2	(0.4)		40.0	+1.4
Business Profit Margin	10.3%		11.2%	9.0%	(1.4pp)		10.7%	(0.5pp)
	Electronics Industries	10.0		21.8	7.4	(2.6)		18.1	(3.7)
	General Industries	6.6		16.9	8.8	+2.2		21.9	+5.0
Net of Other Income and Expenses	(0.3)		(9.5)	(0.5)	(0.2)		(1.0)	+8.5
Operating Profit	16.3		29.1	15.7	(0.6)		39.0	+9.9
Operating Profit Margin	10.2%		8.4%	8.7%	(1.5pp)		10.4%	+2.0pp
	Electronics Industries	9.9		20.9	7.4	(2.5)		18.1	(2.8)
	General Industries	6.4		8.2	8.3	+1.9		20.9	+12.7
Net of Finance Income and Costs	1.1		0.9	(0.2)	(1.3)		(0.8)	(1.7)
Share of profit (loss) of investments	0.1		0.2	0.0	(0.1)		0.0	(0.2)
accounted for using equity method
Profit Before Tax	17.5		30.2	15.5	(2.0)		38.2	+8.0
Profit Attributable to Owners of Parent	12.4		20.1	10.5	(1.9)		27.0	+6.9
Basic Earnings per Share (yen)	110.15		179.14	93.42	(16.73)		240.21	+61.07
Number of Employees	8,042		7,784	-	-		-	-

Note 1. Orders and net sales are figures for external customers.

Note 2. Business profit and operating profit by segment indicates figures prior to adjustments and eliminations between segments.3 Note 3. Figures in each industry segment for the year ended March 31, 2023 are approximate values tentatively calculated in May 2023, and subject to change.

Orders and Net Sales - New Segment

								Unit: Billions of yen
		2023/3			2024/3
		1st Half		Full Year	1st Half			Full Year
			Change from		Change from
		Result		Result	Forecast		Forecast
			Previous Year		Previous Year
Electronics Industries	93.5		169.9	68.0	(25.5)		140.0	(29.9)
	Chemicals	5.6		10.7	5.4	(0.2)		10.6	(0.0)
	Facilities	40.0		68.6	18.1	(21.9)		38.2	(30.4)
	Maintenance	13.3		20.7	9.3	(4.0)		17.8	(2.9)
	Precision Tool Cleaning	14.4		27.7	12.8	(1.6)		27.0	(0.6)
	Recurring Contract-Based Service	20.2		42.3	22.4	+2.2		46.3	+4.0
General Industries	106.9		204.4	107.0	+0.1		210.0	+5.6
	Chemicals	60.3		120.1	62.3	+2.0		124.6	+4.5
	Facilities	13.8		26.4	12.3	(1.5)		25.9	(0.5)
	Maintenance	25.9		43.5	23.7	(2.2)		42.2	(1.4)
	Other Services	6.9		14.3	8.7	+1.8		17.3	+2.9
	Total Orders	200.4		374.3	175.0	(25.4)		350.0	(24.3)
Electronics Industries	67.4		149.3	81.0	+13.6		162.5	+13.2
	Chemicals	5.6		10.7	5.4	(0.2)		10.7	(0.0)
	Facilities	19.2		50.1	33.4	+14.3		60.1	+10.0
	Maintenance	8.1		18.8	6.8	(1.4)		18.2	(0.6)
	Precision Tool Cleaning	14.3		27.6	12.8	(1.6)		27.0	(0.6)
	Recurring Contract-Based Service	20.2		42.1	22.6	+2.5		46.6	+4.4
General Industries	93.3		195.3	100.0	+6.7		212.5	+17.2
	Chemicals	59.9		119.7	61.8	+2.0		124.3	+4.6
	Facilities	7.9		20.0	9.1	+1.2		24.5	+4.4
	Maintenance	18.7		41.5	19.3	+0.6		43.9	+2.4
	Other Services	6.8		14.0	9.8	+3.0		19.8	+5.7
	Total Sales	160.7		344.6	181.0	+20.3		375.0	+30.4

Note. Figures in each industry segment for the year ended March 31, 2023 are approximate values tentatively calculated in May 2023, and subject to change.

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