Financial Report
(January 1 ~ March 31, 2024)
May 13, 2024
Key Subjects
2024 1st Quarter Financial Results Summary
Changes in Scope of Consolidation, Affiliated Companies
Financial Results Summary
2024 Annual Financial Results Forecast
Financial Results Forecast Summary
Capex, Depreciation, Tire Production Capacity etc.
Shareholder Returns
2
Summary of Financial Results
2024 1st Quarter Financial Results Summary
Changes in Scope of Consolidation, Affiliated Companies
Financial Results Summary
2024 Annual Financial Results Forecast
Financial Results Forecast Summary
Capex, Depreciation, Tire Production Capacity etc.
Shareholder Returns
3
Changes in Scope of Consolidation
Consolidated Subsidiaries | 84 | Equity-method Affiliates | 3 | ||
(vs 2023 year-end : (13) ) | (vs 2023 year-end : - ) | ||||
Newly Included +1 | Excluded | (14) | Newly Included - | Excluded | - |
Tires
DUNLOP TYRE | Dunlop Tire Hokkaido Ltd. |
JAPAN,LTD.(Japan/Sales)* | And 10 other companies* |
(Japan/Sales) | |
Dunlop Tire Trading (Tianjin) | |
Co.,Ltd.(China/Sales) |
Sports
Industrial & Other
Lonstroff AG (Switzerland/Manufacture) Lonstroff Medical Elastomer d.o.o.(Slovenia/Manufacture)
*As of January 1, 2024, Dunlop Tire Hokkaido Ltd. and 10 other domestic tire sales subsidiaries have been merged into Dunlop TYRE JAPAN,LTD. along with part of the | |
Replacement Sales Division function of Sumitomo Rubber Industries Tire Domestic Operations. | 4 |
Affiliated Companies
Manufacturing Companies | Sales Companies | Other Companies |
Domestic 1 | Domestic 1 | Domestic 7 |
Tires
Overseas 8
Asia Pacific | 4 |
Europe and Africa | 2 |
Americas | 2 |
Overseas 30
Asia Pacific | 8 |
Europe and Africa | 19 |
Americas | 3 |
Overseas | 6 | ||
Asia Pacific | 2 | ||
Europe and Africa | 2 | ||
Americas | 2 | ||
Sports | Domestic | 1 | Domestic | 1 | Domestic | 3 |
Overseas | 3 | Overseas | 12 | Overseas | 7 | |
Thailand, U.S., Philippines
Malaysia, U.K., Canada,
Australia, China, Hong Kong,
South Africa, South Korea,
Thailand, France, Germany
U.K.
Industrial | Domestic | 1 | Domestic | 2 | Domestic | - | ||||
Overseas | 3 | Overseas | 1 | Overseas | - | |||||
& Other | ||||||||||
- | ||||||||||
Malaysia, China, Vietnam | Hong Kong | Total 87 | ||||||||
Domestic 17
Overseas 70
5
Highlights
2024 1st Quarter Financial Results
Sales revenue(291.4 B of yen), business profit(23.2 B of yen), operating profit(20.7 B of yen) and profit attributable to owners of parents(24.8 B of yen) have reached record high in the 1st quarter. Business profit(%) was 8.0%.
Tires: Sales revenue and business profit have reached record high in the 1st quarter.
Revenue and profit increased YoY, due to increase in sales of overseas REP. market in North America and Europe.
Sports: Sales revenue has reached record high in the 1st quarter.
Revenue increased, but profit decreased YoY, because sales volume of golf business has increased in Japan and North America, while sales volume of tennis business has decreased in Europe.
Industrial & other: Revenue decreased, but profit increased YoY, because of increase in sales of infrastructure-relatedproducts, decrease in sales of rubber parts for office equipment, household goods and rubber parts for medical applications.
Current main initiatives
Tires business: Restructuring of management and organizational system
Establishment of the Tires Business Unit integrating manufacturing, sales, and technology by early 2024, aiming for further revenue improvement.
Structural reforms
North America business and businesses that are taking a leading approach outside of North America business will determine its direction by the end of 2024.
Laying the groundwork for growth lines of business
• ACTIVE TREAD Technology ~Rubber to fit all road~ The market release for all-season tires equipped with active treads is slated for fall 2024.
-
SENSING CORE ~To detect danger in advance with sensing technology~
Adopted by fleet operators and automakers, contributing to the field of autonomous driving
6
Consolidated Financial Results (2024 Jan.-Mar.)
2024 | 2023 | vs | ||
Jan.-Mar. | Jan.-Mar. | 2023 | ||
Sales | 291.4 | 276.8 | 105% | |
Revenue | ||||
Business | 23.2 | 8.0 | 291% | |
Profit (%) | ||||
8.0% | 2.9% | |||
*1,3 | ||||
Operating | 20.7 | 7.8 | 266% | |
Profit (%) | 7.1% | 2.8% | ||
*3 | ||||
Profit | 24.8 | 4.0 | 620% | |
*2,3 | ||||
*1. Business Profit | : Sales Revenue - (COS + SGA) | |||
*2. Profit | : Profit attributable to owners of parent |
*3. Accounting adjustments have been applied since 2nd quarter, 2022, as pursuant to IAS 29 "Financial Reporting in Hyperinflationary Economies".
The above notes apply throughout this report.
Billions of Yen
2023
Actual
1,177.4
77.7
6.6%
64.5
5.5%
37.0
7
Consolidated Sales Revenue / Profit (Jan.-Mar.)
Billions of Yen % : Profit Ratio | : Record High |
213.7
190.87.6%
16.2
15.6
7.3%
10.7
1.5%
2.8
276.8 | 291.4 | ||
250.5 | 24.8 | ||
23.2 | |||
8.0% | |||
5.9% | 20.7 | ||
14.8 | 7.1% | ||
5.7% 14.2 | 2.9% | ||
11.8 | 8.0 | ||
7.8 | 2.8% |
2.8 | 4.0 | |||
1.4% | ||||
2020 | 2021 | 2022 | 2023 | 2024 |
(3.4)
Sales Revenue | Business Profit | Operating Profit | Profit attributable to owners of parent |
8
Consolidated Sales Revenue / Business Profit by Reportable Segment
(2024 Jan.-Mar.)
2024 | 2023 | VS | ||
Jan.-Mar. | Jan.-Mar. | 2023 | ||
Sales | Tires | 244.1 | 229.8 | 106% |
Sports | 36.7 | 35.5 | 103% | |
Revenue | ||||
Industrial | 10.6 | 11.5 | 92% | |
& Other | ||||
Total | 291.4 | 276.8 | 105% | |
Business | Tires | 18.3 | 1.9 | 945% |
Sports | 4.2 | 5.5 | 77% | |
Profit | Industrial | 0.7 | 0.6 | 117% |
& Other * | ||||
Total | 23.2 | 8.0 | 291% | |
Billions of Yen
2023
Actual
1,006.4
126.6
44.4
1,177.4
63.6
12.5
1.6
77.7
*The elimination of inter-segment transactions is included. 9
Consolidated Business Profit by Reportable Segment (Jan.-Mar.)
Billions of Yen : Record High
23.2
18.3
16.2
14.8
13.1
10.5
8.0
4.0 | 5.5 | 4.2 | |||||||||
2.8 | 2.5 | ||||||||||
2.4 | 1.9 | ||||||||||
0.9 | 0.6 | 0.3 | 0.6 | 0.7 | |||||||
(0.4) | |||||||||||
2020 | 2021 | 2022 | 2023 | 2024 | |||||||
Tires | Sports | Industrial & Other | Business Profit | ||||||||
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SRI - Sumitomo Rubber Industries Ltd. published this content on 13 May 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 13 May 2024 07:33:00 UTC.