FY2024
1st Quarter
Results Presentation
KITZ CORPORATION
May 2024
The forecast data presented herein reflects assumed results based on conditions that are subject to change. KITZ Corporation does not make representations as to, or warrant, in whole or in part, the attainment or realization of any of the forecasted results presented in this document. Numerical figures presented herein are rounded down.
©2024 KITZ CORPORATION All Rights Reserved
Contents
- FY2024 1st Quarter Financial Results
- FY2024 Forecast
-
Topics
- Appendix -
©2024 KITZ CORPORATION All Rights Reserved | |2 |
- FY2024 1st Quarter Financial Results
- FY2024 Forecast
-
Topics
- Appendix -
©2024 KITZ CORPORATION All Rights Reserved | |3 |
Summary of FY2024 1st Quarter Results
Sales | ¥40.2 Billion |
YoY:+2.5% | Progress*:48.1% |
- Valve Manufacturing Business
Increased by 3.4% YoY, on the back of the effects of price revisions and the foreign exchange rate, despite lower sales in the Semiconductor Equipment market and a decrease in sales volume in both domestic and overseas markets due to slow sales trends.
- Brass Bar Manufacturing Business
Decreased by 2.3% YoY due to a sales volume decrease caused by weak demand in the overall industry.
Profit Attributable to | ¥2.5 Billion |
Owners of the Parent | |
YoY:(25.7)% | Progress*:50.2% |
- Decreased by 25.7% YoY due to decrease in gain on sales of investment securities from sale of shares held under a cross-shareholding arrangement.
Operating Profit | ¥2.8 Billion |
YoY:(19.6)% | Progress*:42.6% |
- Valve Manufacturing Business
Decreased by 15.3% YoY due to lower sales volume and inflation-related increase in expenses and labor costs.
- Brass Bar Manufacturing Business
Increased by 87.0% YoY as a result of reduction in material waste, etc.
*Note: Progress against 1H Plan | ©2024 KITZ CORPORATION All Rights Reserved | |4 |
FY2024 1st Quarter Results
(Millions of Yen)
FY2023 | FY2024 | Progress | ||||
Q1 | Q1 | YoY Change | ||||
against H1 | ||||||
Results | Results | |||||
Sales | 39,241 | 40,211 | 970 | 2.5% | 48.1% | |
Valve Manufacturing | 32,043 | 33,138 | 1,095 | 3.4% | 47.7% | |
Brass Bar Manufacturing | 6,723 | 6,566 | (156) | (2.3)% | 50.5% | |
Operating Profit | 3,496 | 2,812 | (683) | (19.6)% | 42.6% | |
% | 8.9% | 7.0% | ||||
Valve Manufacturing | 4,488 | 3,800 | (688) | (15.3)% | 44.2% | |
Brass Bar Manufacturing | 87 | 163 | 76 | 87.0% | 65.4% | |
Ordinary Profit | 3,776 | 3,340 | (436) | (11.6)% | 48.8% | |
% | 9.6% | 8.3% | ||||
Profit Attributable to Owners of the | 3,376 | 2,507 | ||||
Parent | (869) | (25.7)% | 50.2% | |||
6.2% | ||||||
% | 8.6% | |||||
Yen / US Dollar | 133.45 | 149.89 | ||||
Yen / Euro | 143.93 | 162.17 | *Note : Total Sales and Operating Profit | |||
Electrolytic Copper, Yen/ kg | 1,237 | 1,301 | ||||
include other segment and adjustment. | ||||||
©2024 KITZ CORPORATION All Rights Reserved | |5 |
Quarterly Results (Consolidated)
(Millions of Yen) | Sales/OP | OP Margin | |||||||||||||||||||||||
45,000 | OP(Right) | 4,500 | 12.0% | ||||||||||||||||||||||
Sales(Left) | 9.8% | ||||||||||||||||||||||||
40,000 | 4,000 | 10.0% | 8.9% | ||||||||||||||||||||||
35,000 | 3,500 | 7.3% | |||||||||||||||||||||||
8.0% | |||||||||||||||||||||||||
30,000 | 3,000 | 6.9% | 7.0% | ||||||||||||||||||||||
25,000 | 2,500 | 6.0% | |||||||||||||||||||||||
20,000 | 2,000 | ||||||||||||||||||||||||
4.0% | |||||||||||||||||||||||||
15,000 | 1,500 | ||||||||||||||||||||||||
10,000 | 1,000 | 2.0% | |||||||||||||||||||||||
5,000 | 500 | ||||||||||||||||||||||||
0.0% | |||||||||||||||||||||||||
0 | 0 | ||||||||||||||||||||||||
Q1 | Q2 | Q3 | Q4 | Q1 | |||||||||||||||||||||
Q1 | Q2 | Q3 | Q4 | Q1 | |||||||||||||||||||||
FY2023 | FY2024 | FY2023 | FY2024 | ||||||||||||||||||||||
(Millions of Yen) | |||||||||||||||||||||||||
FY2023 | FY2024 | ||||||||||||||||||||||||
Q1 | Q2 | Q3 | Q4 | Q1 | |||||||||||||||||||||
Sales | 39,241 | 42,032 | 42,084 | 43,582 | 40,211 | ||||||||||||||||||||
Operating Profit | 3,496 | 3,076 | 4,129 | 2,985 | 2,812 | ||||||||||||||||||||
Ordinary Profit | 3,776 | 3,461 | 4,290 | 2,924 | 3,340 | ||||||||||||||||||||
Net Profit | 3,376 | 2,108 | 3,042 | 2,063 | 2,507 | ||||||||||||||||||||
OP Margin | 8.9% | 7.3% | 9.8% | 6.9% | 7.0% |
©2024 KITZ CORPORATION All Rights Reserved | |6 |
Quarterly Results (Valve Manufacturing)
(Millions of Yen) | Sales/OP | |
40,000 | ||
Sales(Left) | ||
35,000 | OP(Right) | |
30,000 | ||
25,000
20,000
15,000
10,000
5,000
0
Q1 | Q2 | Q3 | Q4 | Q1 |
FY2023 | FY2024 |
6,000
5,000
4,000
3,000
2,000
1,000
0
16.0%
14.0%
12.0%
10.0%
8.0%
6.0%
4.0%
2.0%
0.0%
OP Margin
14.0%14.3%
12.0% | 11.6% | 11.5% |
Q1 | Q2 | Q3 | Q4 | Q1 |
FY2023 | FY2024 |
(Millions of Yen)
FY2023 | FY2024 | ||||
Q1 | Q2 | Q3 | Q4 | Q1 | |
Sales | 32,043 | 33,687 | 34,624 | 35,661 | 33,138 |
Operating Profit | 4,488 | 4,042 | 4,949 | 4,145 | 3,800 |
OP Margin | 14.0% | 12.0% | 14.3% | 11.6% | 11.5% |
©2024 KITZ CORPORATION All Rights Reserved | |7 |
Valve Manufacturing Business Results
- Sales by Market -
- Building & Facilities / Petrochemicals : Remained stable.
- Water Treatment : Increased YoY driven by sales from a large-scale project at a Group company in South Korea.
- Semiconductor Equipment : Decreased YoY due to due to a sluggish market.
- Semiconductor Materials (Filters) : Remained flat YoY, backed by the effect of the foreign exchange rate.
- Fine Chemicals : Decreased YoY due to the absence of the previous year's large-scale project sales.
- Hydrogen & Clean Energy : Increased YoY due to sales of hydrogen station package units.
(Billions of Yen) | |||||||
FY2023 | FY2024 | Progress | |||||
YoY Change | against | ||||||
Q1 | Q2 | Q3 | Q4 | Q1 | |||
H1 Plan |
C | Building & Facilities | 6.8 | 6.7 | 7.5 | 8.0 | 7.5 | 0.7 | 9.7% | 23.8% | ||
Petrochemicals | 7.0 | 8.3 | 8.1 | 7.9 | 7.3 | 0.3 | 4.8% | 22.7% | |||
O | |||||||||||
2.1 | 2.0 | 2.5 | 2.7 | 3.3 | 1.2 | 56.6% | 33.8% | ||||
R Water Treatment | |||||||||||
E | Machinery & Equipment | 2.5 | 2.4 | 2.6 | 2.7 | 2.4 | (0.1) | (4.3)% | 25.8% | ||
Core Total | 18.4 | 19.4 | 20.7 | 21.3 | 20.5 | 2.1 | 11.3% | 24.8% | |||
G Semiconductor Equipment | 6.1 | 6.2 | 6.4 | 6.3 | 5.3 | (0.8) | (12.7)% | 22.2% | |||
R | Semiconductor Materials (Filters) | 1.1 | 1.2 | 1.2 | 1.1 | 1.1 | 0.0 | 0.8% | 22.2% | ||
O | |||||||||||
W Fine Chemicals | 1.1 | 1.0 | 0.8 | 0.9 | 0.7 | (0.4) | (38.3)% | 16.9% | |||
T | |||||||||||
Hydrogen & Clean Energy | 0.2 | 0.2 | 0.2 | 0.4 | 0.9 | 0.7 | 344.0% | 34.5% | |||
H | |||||||||||
Growth 合計 | 8.5 | 8.6 | 8.6 | 8.7 | 8.0 | (0.5) | (5.9)% | 22.5% | |||
Other | 5.1 | 5.7 | 5.3 | 5.7 | 4.7 | (0.4) | (8.5)% | 20.5% | |||
Total | 32.0 | 33.7 | 34.6 | 35.7 | 33.1 | 1.1 | 3.6% | 23.5% |
Note : Since figures are shown in units of billion yen, totals may not align to the calculation. | All Rights Reserved | |8 |
Valve Manufacturing Business Results
- Sales by Area -
- Composition of Sales: Domestic 56% and overseas 44%
- Domestic sales decreased by 3.2% YoY, while overseas sales influenced by foreign exchange rates rose by 13.3% YoY.
- Americas : Decreased YoY due to lower sales in the North American semiconductor equipment market.
- ASEAN, Korea, and other: Increased YoY on the back of sales from a project in the Middle East.
- China : Increased YoY due to higher industrial product sales despite the real estate downturn.
(Billions of Yen) | |||||||||
FY2023 | FY2024 | YoY Change | Progress | ||||||
against | |||||||||
Q1 | Q2 | Q3 | Q4 | Q1 | H1 Plan | ||||
Japan | 19.1 | 19.8 | 20.0 | 21.1 | 18.5 | (0.6) | (3.2)% | 22.2% | |
Overseas Total | 12.8 | 13.8 | 14.5 | 14.5 | 14.5 | 1.7 | 13.3% | 25.1% | |
ASEAN, Korea, | 4.2 | 4.1 | 4.3 | 5.1 | 5.6 | 1.3 | 32.3% | 29.5% | |
and other | |||||||||
China | 2.4 | 3.1 | 3.8 | 3.5 | 2.7 | 0.3 | 14.9% | 21.1% | |
India | 0.4 | 0.4 | 0.5 | 0.5 | 0.4 | (0.0) | (3.4)% | 20.0% | |
Asia Total | 7.1 | 7.7 | 8.7 | 9.1 | 8.8 | 1.7 | 24.1% | 26.0% | |
Americas | 4.5 | 4.7 | 4.5 | 4.1 | 4.4 | (0.1) | (2.7)% | 23.0% | |
(North and South America) | |||||||||
Europe, etc. | 1.1 | 1.3 | 1.2 | 1.1 | 1.2 | 0.1 | 10.5% | 24.5% | |
Note1 : From FY2024, the area aggregation grouping in the Asian market has been partially modified | ||
Note2 : Since figures are shown in units of billion yen, totals may not align to the calculation. | ©2024 KITZ CORPORATION All Rights Reserved | |9 |
Valve Manufacturing Business Results
- Operating Profit Analysis by Factors-
(Millions of Yen) | |||||
FY2023 | 2024年 | Progress | |||
12月期 | |||||
Q1 | YoY Change | against H1 | |||
Results | 1Q実績 | Plan | |||
Sales | 32,043 | 33,138 | 1,095 | 3.4% | 47.7% |
Operating | 4,488 | 3,800 | (688) | (15.3)% | 44.2% |
Profit | |||||
(Millions of Yen) |
6,000
5,000
4,000
3,000
2,000
1,000
4,488
Cost
Reduction
+60
Sales Volume
Product Mix
-530
Material
Cost
+70
Parts &
Energy Cost
-180
SG&A -230
Forex +120
3,800
0
FY2023 Q1 | FY2024 Q1 |
©2024 KITZ CORPORATION All Rights Reserved |10
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Kitz Corporation published this content on 15 May 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 15 May 2024 11:00:35 UTC.