Ebara : Three Months Ended March 31, 2024(Presentation)

Results Presentation

for Three Months Ended March 31, 2024 EBARA (6361)

May 14, 2024

Table of Contents

Points of Results	P3
1. FY24 1Q Summary of Results
・Consolidated	P5
・Segment	P6
・Breakdown of Changes in Operating Profit	P7
・Revenue by Region	P8
2. FY24 1Q Results by Segment
・Building Service & Industrial	P10
・Energy	P11
・Infrastructure	P12
・Environmental Solutions	P13
・Precision Machinery	P14
3. FY24 Forecast
・Consolidated	P16
・Segment	P17
・Breakdown of Changes in Operating Profit	P18
・Shareholder Returns	P19

4. Topics

・Stock Split	P20
5. Appendix
・Consolidated Forecast（FY24 3-4Q)	P22
・Orders	P23
・Revenue	P24
・Operating Profit	P25
・Backlog of Orders	P26
・Revenue by Region	P27
・Service & Support (S&S) Revenue	P28
・Balance Sheet	P29
・Cash Flows	P30
・ESG Topics	P31

• Abbreviations: FY (Fiscal year, e.g., FY24: fiscal year ending December 31, 2024)/1Q: first quarter figures/1-2Q,1-3Q,1-4Q: cumulative total of each quarter indicated
• Figures in this document are based on IFRS

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Points of Results

	FY24 1Q Results							FY24 Forecast
				YoY*
	Orders	¥191.6	B.	¥-6.3 B.	→		Orders	¥834.0	B.
	-3.2%
	Revenue	¥193.8	B.	¥9.7 B.	↗		Revenue	¥827.0	B.
	+5.3%
	Operating Profit	¥19.2	B.	¥4.0 B.	↗		Operating Profit	¥87.0	B.
	+26.4%
	OP Ratio	10.0%	+1.7pts				OP Ratio	10.5%
	* +5% change or more	-5% change or more → less than ±5% change

YoY*
¥13.4 B.	→
+1.6%
¥67.6 B.	↗
+8.9%
¥0.9 B.	→
+1.1%
-0.8pts

Topics

FY24 1Q

Results

• Orders at almost same level as FY23 1Q, which was a record high for 1Q

The semiconductor market has bottomed out, although a full recovery may take time, orders for Precision Machinery Segment are recovering. Orders declined in Environmental Solutions and Energy Segments compared with FY23 1Q due to due to the timing of orders for large-scale projects rather than changes in market conditions

• Revenue, Operating Profit, and OP Ratio reached record highs for 1Q, supported by revenue growth, improved profitability, and the exchange rate

FY24	◼ Results are mostly in line with initial forecasts and proceeding to plan
Forecast	(Slight revision of 1-2Q forecast in light of 1Q results)
Other	◼ A five-for-one split of shares is scheduled for July 1, 2024

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1. FY24 1Q Summary of Results
2. FY24 1Q Results by Segment
3. FY24 Forecast
4. Topics
5. Appendix

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1. FY24 1Q Summary of Results

Consolidated

(billions of yen)

Orders

Revenue

Operating Profit

OP Ratio

Profit Attributable

to Owners of Parent

EPS (yen)

Exchange Rate*

Vs. USD (JPY)

Vs. EUR (JPY)

Vs. CNY (JPY)

• Exchange rates are the average rates for each quarter

FY23 1Q	FY24 1Q	Change	Change %
a	b	b-a	(b-a)/a
197.9	191.6	-6.3	-3.2%
184.0	193.8	+9.7	+5.3%
15.2	19.2	+4.0	+26.4%
8.3%	10.0%	+1.7pts
8.0	14.6	+6.5	+81.5%
87.95	159.20	+71.24	+81.0%

132.31	148.25	+15.94
141.92	160.98	+19.06
19.33	20.64	+1.31

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1. FY24 1Q Summary of Results

Segment

(billions of yen)			FY23 1Q	FY24 1Q	Change		Change %
			a	b	b-a		(b-a)/a
	Orders	197.9	191.6	-6.3	-3.2%
Total	Revenue			184.0	193.8	+9.7	+5.3%
Operating Profit	15.2	19.2	+4.0	+26.4%
	OP Ratio			8.3%	10.0%	+1.7pts
Building Service &	Orders	52.2	58.1	+5.8	+11.3%
Revenue			53.0	56.5	+3.4	+6.6%
Industrial	Operating Profit			3.9	4.3	+0.4	+10.0%
	OP Ratio			7.5%	7.8%	+0.3pts
	Orders	62.3	54.5	-7.8	-12.6%
Energy	Revenue			35.9	43.5	+7.6	+21.2%
Operating Profit	1.1	3.6	+2.5	+229.5%
	OP Ratio			3.1%	8.4%	+5.3pts
	Orders	15.6	18.9	+3.2	+21.0%
Infrastructure	Revenue			20.3	17.2	-3.1	-15.5%
Operating Profit	4.8	3.5	-1.2	-26.7%
	OP Ratio			23.7%	20.6%	-3.1pts
Environmental	Orders	33.3	5.2	-28.0	-84.1%
Revenue			17.8	20.8	+2.9	+16.4%
Solutions	Operating Profit		1.8	3.0	+1.2	+68.1%
	OP Ratio		10.2%	14.8%	+4.6pts
	Orders	34.0	54.3	+20.3	+59.9%
Precision Machinery	Revenue		56.4	55.3	-1.1	-2.0%
Operating Profit	3.4	5.4	+1.9	+56.1%
	OP Ratio		6.2%	9.9%	+3.7pts
Others,	Orders	0.2	0.2	+0.0	+0.7%
Revenue		0.3	0.2	-0.0	-6.6%
Adjustment	Operating Profit		0.0	-0.8	-0.8	-
	OP Ratio		1.9%	-285.9%	-287.8pts

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1. FY24 1Q Summary of Results

Breakdown of Changes in Operating Profit

Profitability and revenue growth outpaced fixed cost increase

(billions of yen)

• Greatly improved profitability in Precision Machinery (+)
• Gain on sale of land in Energy (U.S.) (+)

Increase in labor costs due to raise of monthly base salary, etc. (-)

Loss on retirement of buildings at Fujisawa District, etc. (-)

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1. FY24 1Q Summary of Results

Revenue by Region

Japan

Overseas

China

Asia (excl. Japan

China)

North America

Europe

	34.4
26.7	+28.8%

22.7
33.6	-32.4%

	24.8
	+5.8%
	23.4
11.8
12.9		-8.4%

79.8

73.0

+9.3%

113.9

110.9

+2.7%

Europe 6%

North

America

13%

Middle	Others
East	4%
7%

FY24	1Q
Revenue Composition
Domestic 41%
Overseas 59%

Japan 41%

Middle East

Others

13.0
+55.3%
8.3

7.0 +21.9%

5.8

(billions of yen)

Upper bar: FY24 1Q

Lower bar: FY23 1Q

• YoY

Asia (excl.
Japan China)	China
12%
18%

"Revenue by Region" indicates revenue on the basis of the geographical location where the goods are sold

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1. FY24 1Q Summary of Results
2. FY24 1Q Results by Segment
3. FY24 Forecast
4. Topics
5. Appendix

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2. FY24 1Q Results by Segment

Building Service & Industrial

Results (Billions of yen)

Orders

Revenue

Key Changes (vs. FY23 1Q)

Market	◼ GDP growth continues at a slow pace in Japan, China, and South
	America, but is recovering in Asia in developing markets and the

FY23	FY24	230.0

117.0 169.3169.3 221.3

	111.0
52.2	58.1

53.056.5 106.5113.0

230.0

222.1

161.8

161.8

Environment	Middle East
	◼ China's building equipment market remains weak due to
	restrained real estate investment
Orders	◼ Strong in China for industrial market products
◼ Increased in Japan due to price revisions
	Strong in North America and the Middle East

1Q	1-2Q	1-3Q	1-4Q
Operating Profit
			15.7	16.5
		10.410.4

6.7 7.5

3.9 4.3

1Q	1-2Q	1-3Q	1-4Q
	S&S* Revenue
*Service & Support

1Q	1-2Q	1-3Q1-4Q
	OP Ratio
7.8%	6.6%	6.5%	7.2%
7.5%		6.5%	7.1%
	6.3%

1Q

1-2Q

1-3Q

1-4Q

Revenue by Region

	◼
Revenue	◼ Increased due to strong performance in Japan
◼ Increased in South America, North America, and the Middle East
	due to exchange rate
Operating	◼ Revenue increased (+)
◼ Profitability improved due to increased revenue in higher-margin
Profit	S&S (+)
	◼ Labor costs increased (-)

Breakdown of Changes in Operating Profit (Billions of yen)

42.2	42.5	FY24 S&S Ratio 25%
		FY23 S&S Ratio 21%
		14.0
		10.8

26.1

23.6

13.512.8

FY23 Domestic 46%, Overseas 54%

FY23 Domestic 45%, Overseas 55%

3.6 4.0	5.9 6.0	2.0 2.3	4.2	5.2

Products

S&S

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Japan Asia North Europe Middle Other

America East