RESONAC HOLDING CORPORATION Consolidated Financial Results
Second Quarter, 2021
(August 10, 2021)
SHOWA DENKO K.K.
Motohiro Takeuchi, CFO
Representative Director & Managing Corporate Officer
Overview of CQ2, 2021 Financial Results
Consolidated Financial Results CQ2, 2021
Net Sales: ¥353.7 bn (vs. CQ1, 2021 up ¥14.0 bn)
Sales in the Petrochemicals segment increased due to a rise in product prices, and in the Electronics segment, sales of HD media for near-line servers and PCs increased.
Sales increased in all segments except the Others segment whose sales decreased due to the conversion of Shoko Co., Ltd. into a non-consolidated subsidiary.
Operating Income: ¥26.8 bn (vs. CQ1, 2021 up ¥5.9 bn)
Profit in Showa Denko Materials segment decreased due to high raw material prices, but semiconductor-related business continued to perform well.
Profit increased in graphite electrode business due to execution of cost reduction measures such as elimination of expensive raw materials and production cost reduction.
Business portfolio reform and interest-bearing debt reduction are progressing steadily.
2021 Full Year Forecast (ref. page 19-)
Net Sales: ¥1,400.0 bn (vs. Forecast as of May 10, 2021 up ¥55.0 bn) | |
Despite the impact of the business transfer, upward revision of performance forecast was made | |
due to a rise in prices of petrochemical products, an increase in sales volume of graphite | |
electrodes, and good sales of semiconductor-related products. | |
Operating Income: ¥85.0 bn (vs. Forecast as of May 10, 2021 up ¥17.0 bn) | |
Profit in the Showa Denko Materials segment will be larger than that in the previous forecast due | |
to strong performance in the semiconductor-related business. | |
Profit in the graphite electrode business will be larger than that in the previous forecast due to an | |
increase in sales volume. | 2 |
Consolidated Companies, Selected Data
Consolidated Companies
Consolidated subsidiaries: 145 (-6 from Dec. 31, 2020)
-9: Related to transfer of SHOKO, and aluminum rolled products and aluminum can businesses (7) Liquidation of affiliated companies engaged in energy storage devices and systems business (2)
+3: Establishment of companies related to transfer of Printed Wiring Board Business (2) and Minaris Regenerative Medicine
Equity method applied: 14 (+1 from Dec. 31, 2020)
+1: Change in classification of an affiliate to be an equity-method affiliate
Selected Data | (Average) | |||||||
Jan.- Jun. | Jan.- Jun. | Apr.- Jun. | 2H, 2021 | |||||
2020 | 2021 | 2021 | Forecast | |||||
Exchange rates | ||||||||
108.3 | 107.7 | 109.5 | 108.0 | |||||
(¥/US$) | At Jun. 30,2020 | At Jun. 30, 2021 | ||||||
107.7 | ||||||||
At Dec. 31,2020 | 110.6 | |||||||
103.5 | ||||||||
(¥/€) | 119.3 | 129.8 | 132.0 | 128.0 | ||||
Domestic naphtha price (¥/KL) | 34,850 | 43,250 | 47,700 | 53,000 | ||||
Aluminum | ||||||||
LME (US$/T) | 1,619 | 2,256 | 2,411 | 2,230 | ||||
Domestic market* (K¥/T) | 224 | 301 | 324 | |||||
－ | 3 | |||||||
* | Domestic market: data from Nikkei |
Summary (CQ1 (Jan.-Mar.), 2021 vs. CQ2 (Apr.-Jun.), 2021)
(Unit: Billions of Yen) | |||||
CQ1, 2021 | CQ2, 2021 | Increase/ | |||
decrease | |||||
Net sales | 339.7 | 353.7 | 14.0 | ||
Operating income | 20.8 | 26.8 | 5.9 | ||
Non-operating income and | 4.3 | -1.6 | -5.9 | ||
expenses, net | |||||
Ordinary income | 25.1 | 25.1 | 0.0 | ||
Extraordinary profit/loss | -11.7 | -38.7 | -26.9 | ||
Income before income taxes | 13.4 | -13.5 | -26.9 | ||
Income taxes | -4.2 | -1.5 | 2.7 | ||
Net income | 9.2 | -15.0 | -24.2 | ||
Net income attributable to | -4.0 | -3.6 | 0.4 | ||
non-controlling interests | |||||
Net income attributable to | 5.2 | -18.6 | -23.8 | ||
owners of the parent | |||||
EBITDA | 50.0 | 56.3 | 6.3 | ||
(Operating income + Depreciation expense + | |||||
Amortization of goodwill, etc.） | |||||
EBITDA margin% | 14.7% | 15.9% | |||
1.2p | 4 | ||||
Summary of Consolidated Sales and Operating
Income by Segment (CQ1, 2021 vs. CQ2, 2021)
(Unit: Billions of Yen)
CQ1, 2021 | CQ2, 2021 | Increase/decrease |
Petrochemicals | Sales | 57.8 | 69.5 | 11.7 | 20% | ||
O.I.* | 5.5 | 6.2 | 0.6 | 11% | |||
Chemicals | Sales | 41.3 | 45.4 | 4.1 | 10% | ||
O.I. | 4.9 | 5.8 | 0.9 | 19% | |||
Electronics | Sales | 21.7 | 27.7 | 6.0 | 28% | ||
O.I. | 1.4 | 3.8 | 2.4 | 171% | |||
Inorganics | Sales | 21.2 | 25.2 | 4.0 | 19% | ||
O.I. | 1.0 | 5.3 | 4.2 | 413% | |||
Aluminum | Sales | 22.5 | 25.2 | 2.7 | 12% | ||
O.I. | 2.3 | 3.3 | 1.1 | 47% | |||
Showa Denko | Sales | 159.6 | 160.6 | 1.0 | 1% | ||
Materials | O.I. | 7.6 | 5.0 | -2.5 | -34% | ||
Others | Sales | 28.2 | 5.5 | -22.7 | -81% | ||
O.I. | 0.2 | -0.1 | -0.2 | ー | |||
Adjustments | Sales | -12.5 | -5.3 | 7.2 | ー | ||
O.I. | -2.0 | -2.5 | -0.5 | ー | |||
Total | Sales | 339.7 | 353.7 | 14.0 | 4% | ||
O.I. | 20.8 | 26.8 | 5.9 | 29% | |||
5 | |||||||
(*O.I: Operating income) |
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Showa Denko KK published this content on 11 August 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 11 August 2021 00:45:03 UTC.
