Amada : Consolidated Results for the Fiscal Year Ended March 31,2024

Financial Results

Presentation

Consolidated Results for Fiscal Year 2023

(For The Twelve Months Ended March 31, 2024)

Representative Director, President Corporate Officer	Takaaki Yamanashi
Director, Executive Officer, Executive General Manager of Financial Div.	Kazuhiko Miwa

AMADA CO., LTD.

May 14, 2024

FY2023 Summary

Results	Amount	YoY	YoY(in real terms)
Sales revenue	¥403.5	bn	+10.3 %	+5.5 %
Operating profit	¥56.5	bn	+13.3 %	+2.8 %
Net income*	¥40.6	bn	+19.0 %	+6.7 %
Orders	¥381.2	bn	△3.4 %	△7.6 %
Topics			*Net income attributable to owners of parent

• The global economy is slowing down due to factors such as persistent high inflation, tightening monetary policies, escalating geopolitical risks, and deceleration of the Chinese economy.
• Revenue increased by 10.3% compared to the previous year, driven by the normalization of production activities following improvements in the procurement environment, resulting to the conversion of order backlogs into sales.
• Operating profit increased by 13.3% compared to the previous year, despite rising material and personnel costs, thanks to improvements in selling prices and a decrease in overseas shipping expenses.
• Net income increased by 19.0% compared to the previous year, driven by increases in interest rates and stock prices, as well as the impact of yen depreciation, leading to an increase in net financial revenue.
• For the second consecutive year, we have achieved record-high sales revenue, operating profit, and net income.
• Sales revenue has reached record highs in Japan, North America, and Europe, supported by the impact of exchange rates.
• Although the order backlog decreased by 3.4% compared to the previous year, it remained resilient

thanks to demand for labor-saving equipment, resulting in the second-highest level, just behind last
year's level.	1

Consolidated Income Statement Results

[Billions of yen]

FY2022

Amount Share

FY2023

Amount Share

YoY

Change

Amount %

FY2023

[Stated Forecast]

Amount Share Achievement

Sales revenue	365.6	100.0%	403.5	100.0%	37.8	10.3%
Gross profit	159.3	43.6%	175.1	43.4%	15.8	9.9%
SG&A	109.7	30.0%	119.1	29.5%	9.4	8.6%
Variable cost	18.2	5.0%	17.8	4.4%	-0.3	-2.0%
Fixed cost	91.5	25.0%	101.3	25.1%	9.7	10.7%
Operating profit	49.8	13.6%	56.5	14.0%	6.6	13.3%
Net income *	34.1	9.3%	40.6	10.1%	6.4	19.0%
exchange rate
USD	135.48		144.62		9.14
EUR	140.97		156.79		15.82
RMB	19.75		20.14		0.39

* Net income attributable to owners of parent

395.0 100.0% 102.2%

175.0 44.3% 100.1%

117.9 29.8% 101.1%

19.1 4.8% 93.5%

98.8 25.0% 102.6%

57.0 14.4% 99.1%

39.0 9.9% 104.2%

138.00

149.19

19.32

2

Trend of Orders

Orders by division

Orders by Region

[Billions of yen]

Breakdown of Sheet-metal Division

450.0

合計

400.0

350.0 Others

300.0

Stamping

Press

250.0

Metal

200.0

Cutting &

Grinding

150.0 Precision

Welding

100.0

Sheet-

metal 50.0

0.0

394.8 381.2

1.2 1.3

19.6

19.3

51.1 43.2

34.2 32.8

288.5 284.5

450.0
400.0	394.8	381.2
350.0
300.0
	228.8	234.3
250.0
OverSeas
200.0
Japan
150.0
100.0	165.9
	146.8
50.0
0.0

450.0
400.0
350.0
300.0	288.5	284.5
合計	48.1	51.2
250.0
Consumables 26.4	29.5
Service	10.4
10.5
200.0

Software/FA

150.0

Machinery

100.0	203.4	193.1
50.0
0.0

FY2022 FY2023

FY2022

FY2023

FY2022

FY2023

3

Results by Segments

Metal Working Machinery Segment

334.6

301.3

41.5 48.4

FY2022	FY2023
Revenue	Operating profit

Sales	FY2022	FY2023	YoY
Sheet-metal	270.4	300.4	11.1%
Precision Welding	30.9	34.1	10.5%
OPM	13.8%	14.5%

[Billions of yen]

Metal Machine Tools Segment

63.0	67.5
7.6	7.3
	FY2022
	FY2023
	Revenue	Operating profit

Sales	FY2022	FY2023	YoY
Metal Cutting &	43.5	47.1	8.3%
Grinding
Stamping Press	19.4	20.4	4.9%
OPM	12.1%	10.9%

4

Sales of Geographical & Industry Segments

[Billions of yen]

		[Billions of yen]		Japan		North America			Europe			Asia and others			Overseas		Total
					Amount [Ratio] Amount [Ratio] Amount [Ratio] Amount [Ratio] Amount [Ratio] Amount [Ratio]
Metal Working Machinery		111.5	27.6%		100.5	24.9%		75.4 18.7%		47.0	11.7%		223.0	55.3%			82.9%
					334.6
			YoY(%)		4.3%			19.1%			19.1%			1.0%			14.8%	6.7%		11.0%	5.8%
		Sheet metal Fabrication		105.3	26.1%		89.4	22.2%		68.8 17.1%		36.8	9.1%		195.0	48.3%	300.4	74.5%
			YoY(%)		3.9%			16.5%			20.5%			4.8%			15.4%	7.1%		11.1%	5.9%
			Machinery		70.1	17.4%		61.5	15.2%		49.0 12.2%		27.9	6.9%		138.5	34.3%	208.7	51.7%
			YoY(%)		3.0%			18.8%			22.2%			0.2%			15.6%		11.1%
			After-sales business		35.2	8.7%		27.9	6.9%		19.8	4.9%		8.8	2.2%		56.6	14.0%	91.7	22.7%
			YoY(%)		5.8%			11.6%			16.5%			3.3%			11.7%		9.3%
		Precision Welding		6.1	1.5%		11.1	2.8%		6.6	1.6%		10.2	2.5%		28.0	6.9%	34.1	8.4%
			YoY(%)		10.4%			45.3%			6.5%			-10.7%			10.5%	3.7%		10.5%	4.9%
Metal Machine Tools		36.2	9.0%		12.5	3.1%		9.2	2.3%		9.6	2.4%		31.3	7.8%	67.5	16.8%
			YoY(%)		8.0%			6.1%			8.8%			4.5%			6.4%	-0.2%		7.2%	4.2%
		Metal Cutting & Grinding		20.7	5.1%		10.5	2.6%		8.9	2.2%		6.9	1.7%		26.4	6.6%	47.1	11.7%
			YoY(%)		12.2%			7.1%			7.8%			0.1%			5.4%	-1.3%		8.3%	4.4%
		Stamping Press		15.5	3.8%		1.9	0.5%		0.2	0.1%		2.6	0.7%		4.9	1.2%	20.4	5.1%
			YoY(%)		2.8%			1.1%			50.5%			18.3%			12.1%	5.9%		4.9%	3.5%
Others		1.2	0.3%		0	0%		0			0.0	0.0%		0.0	0.0%	1.3	0.3%
	Total		149.0	36.9%		113.1	28.0%		84.6 21.0%		56.6	14.0%		254.4	63.1%	403.5	100.0%
			YoY(%)		5.1%			17.5%	10.2%			17.9%	6.0%			1.5%	-2.1%			13.6%	5.8%		10.3%	5.5%
			=YoY change shown in the same exchange rate

5

Responding to Social issues through business Activities

Environmental Initiatives

※The red font YOY numbers indicate the year-over-year change in sales compared to the previous fiscal year

Fiber Laser Machine Sales Ratio

CO2 laser

machine

4.6%

Fiber laser

machine

95.4%

YoY

+7.0%

Automation Initiatives

Automated Bending Machine Sales Ratio

(to machine sales)

Automated

27.0%

YoY +7.3%

Non-automated

73.0%

EGB series VS. Conventional Bending machine before replacement

Conventional Bending	EGB series
20.2%
machines before
replacement

79.8%

Automated Laser/ Punching Machine

Sales Ratio (to machine sales)

Automated

53.3%

Stand-alone	YoY +2.4%
46.7%

6

-¥1.7bn

-¥0.1bn

-¥0.3bn

-¥0.5bn

-¥3.2bn

Analysis of Consolidated Operating Profit

OP ¥56.5bn YoY +6.6bn

Changes in COGS percentage -¥0.9bn

(Decrease in profits)

⊕ Improvement of sales price ⊖ Increase of material cost

⊖ Decline in factory operating rate, etc.

SG&A expenses -¥4.2bn

(Decrease in profits)

⊕Decreased variable expense ratio +¥1.6bn ⊖Decreased sales related expenses +¥0bn ⊖Increased personnel expenses ⊖Increased commission related ⊖Increased depreciation expenses ⊖Increased R&D expenses

⊖Others

7

Trends in the Inventory Volume by Region

Performance	◇Inventory volume ¥146.5bn	YoY +¥12.0bn（+9%）
Situation	◇Turnover months 4.4months	YoY +0 month

*Turnover months:Inventory amount／Net sales by region÷12
*Inventory volume is calculated using closing rates of each quarter
Inventory volume for each region are before consolidation elimination												[Billions of yen]
Consolidation										Japan		67.0		73.3	71.5	74.0	67.6	7.0	North America						7.0
											70.0					62.8						70.0
200.0										5.0			57.2	59.5						6.0											6.0
	Raw materials and parts			4.7	4.7									60.0
					60.0
		Work in process				4.4	4.4	4.4			48.1									5.0	50.0					4.0 4.1 4.5 4.3 4.1	5.0
180.0		Merchandise & finished products	4.5	50.0					3.8	3.7	3.8		3.7	3.4	3.8	3.8
										3.5
		Turnover months			4.3					40.0	2.9	3.0	3.1	3.5	3.3				4.0	40.0									4.0
							157.1
							156.5
160.0								4.0	30.0										3.0	30.0										3.0
				4.1	156.1
							146.5
	3.9		3.9	3.9	132.4				20.0										2.0	20.0						38.5	41.9	39.8	38.0	2.0
140.0	3.8				3.5												31.3	31.0	33.0
				134.5			10.0										1.0	10.0	23.0	28.0					1.0
					125.8
120.0		3.4 3.4		119.0					3.0	0.0		FY2022				FY2023				0.0	0.0		FY2022				FY2023				0.0
		100.1									4Q	1Q	2Q	3Q	4Q	1Q	2Q	3Q	4Q			4Q	1Q	2Q	3Q	4Q	1Q	2Q	3Q	4Q
100.0		87.889.8	101.8					2.5
											Europe								7.0		Asia & others						7.0
80.0	81.7								2.0	70.0				5.2 5.6						70.0
															5.2 5.3	5.3 5.1
											60.0	4.9 4.8 5.0	6.0	60.0										6.0
																	5.0					4.1 4.3 4.3
60.0										1.5	50.0															4.2		5.0
																			50.0
																				3.4 3.5		3.8
																					4.0		3.3	3.4					4.0
											40.0										40.0

40.0													1.0	30.0										3.0	30.0										3.0
															20.0										2.0											2.0
20.0													0.5			31.3	32.6	34.9	38.8	39.1	39.0	38.1		20.0
												10.0	27.2	29.9							1.0	10.0										1.0
																										12.6	15.0	15.4	15.0	18.0	19.6	19.7	19.1	17.3
0.0														0.0	0.0										0.0
																						0.0									0.0
												FY2022				FY2023
FY2020FY2021				FY2022				FY2023
																FY2022				FY2023
												4Q	1Q	2Q	3Q	4Q	1Q	2Q	3Q	4Q
	4Q	1Q	2Q	3Q	4Q	1Q	2Q	3Q	4Q	1Q	2Q	3Q	4Q				4Q	1Q	2Q	3Q	4Q	1Q	2Q	3Q	4Q

8

Transition of Orders by Region(YoY)

YoY	FY2022	FY2023					FY2024
(same							Jan-MarTotal
exchange Apr-JunJul-SepOct-DecJan-Mar Total Apr-Jun Jul-Sep Oct-Dec				Apr
rate)				Jan	Feb	Mar

Domestic +68%	-16%	-6%		+9%	+9%	-29%+13%	-18%	-18%	+8%	-5%	-5%	-10%	-15%
North America	-4%	-1%	-6%	-22%		-8%	-26%	-13%	-2%	+41%	+25%	-24%+9% -9%+34%
Europe	-9%	-7%	+9%	-17%		-6%		-7%	-6%	-17%	+17%	+41%	+11% +22%	-4%	-0%
Asia and others	-10%	-5%	-10%		-9%		-9%		-6%	-14%+11%	+28%	-12%	-4%	+1%	-3%	-9%
Overseas -7% -4%	-1%	-18%		-8%	-15%	-11%	-5%	+30%	+21%	-8%+11%	-6%	+10%
Total	+14%	-9%	-3%		-7%		-2%	-21%	-2%	-9%	+11%	+16%	-7%	+4%	-8%	+2%
140%											140%
120%								Domestic	120%	+124%		North
							Overseas		America
100%	+85%									100%				Europe
80%			+68%						80%	62%
		+62%
60%									60%	54%
		+49%											+42%
			+40%
40%									40%		33%
+35%	+26%								+39%			+22%
			+34%
20%				+9%		+13%		20%	28%	+9%
	+23%				+11%
	0%			-4%-1%				-5%	0%		+19% -4%-1%	-6%-2%9%
			-7%			-15%						-17%
-20%				-6%			-11%	-5%	-20%		-9%-7%-6%	-7%
		-16%	-18%					-13%
					-18%				-22%	-17%
							-29%
-40% FY2021						-40%				-26%
FY2022			FY2023			FY2021	FY2022	FY2023
		4-67-910-121-34-67-910-121-34-67-910-121-3		4-67-910-121-34-6	7-910-121-34-67-910-121-3
																			9