Takuma Co., Ltd.
May 24, 2024
Copyright 2024 TAKUMA Co., Ltd. All Rights Reserved.
Table of Contents
1. | Financial Results of FY2023 (Ended 3/2024) | P.2 |
2. | Financial Forecast for FY2024 (Ending 3/2025) | P.19 |
3. | 14th Medium-Term Management Plan (FY2024-2026) | P.25 |
4. | Reference Material | P.52 |
Copyright 2024 TAKUMA Co., Ltd. All Rights Reserved. | 1 |
Table of Contents
1. | Financial Results of FY2023 (Ended 3/2024) | P.2 |
2. | Financial Forecast for FY2024 (Ending 3/2025) | P.19 |
3. | 14th Medium-Term Management Plan (FY2024-2026) | P.25 |
4. | Reference Material | P.52 |
Copyright 2024 TAKUMA Co., Ltd. All Rights Reserved. | 2 |
FY2023 (Ended 3/2024)
Summary
FY2023 Results
Orders received
¥160.5 billion
-¥7.9 billion (-4.7%) YoY
Orders received were down due primarily to a decrease in orders received in the Overseas Environment and Energy Business and the Equipment and Systems Business, despite orders received for Energy Plants and Water Treatment Plants in addition to DBO projects for municipal solid waste treatment plants.
Domestic Environment and Energy Business
Municipal solid waste treatment plants
Energy Plants
Water Treatment Plants
Overseas Environment and Energy Business
Package Boiler Business
Equipment and Systems Business
Net sales
¥149.1 billion
+¥6.5 billion (+4.6%) YoY
Sales up for municipal solid waste treatment plants (after-sale services) in the Domestic Environment and Energy Business and three other segments.
Domestic Environment and Energy Business Municipal solid waste treatment plants
Energy Plants
Water Treatment Plants
Overseas Environment and Energy Business
Package Boiler Business
Equipment and Systems Business
Operating profit
¥10.2 billion
-¥3.5 billion (-25.9%) YoY
Profit was down mainly due to the change in
the EPC project mix in the Domestic Environment and Energy Business
Domestic Environment and Energy Business Change in EPC project mix
Cost of O&M measures
Operating expenses (Personnel, R&D, etc.) Depreciation (New Harima Factory, etc.)
Overseas Environment and Energy Business
Package Boiler Business
Equipment and Systems Business
Copyright 2024 TAKUMA Co., Ltd. All Rights Reserved. | 3 |
FY2023 (Ended 3/2024)
Financial Highlights
Orders received were down due primarily to a decrease in orders received in the Overseas Environment and Energy Business and the Equipment and Systems Business, despite orders received for DBO projects for municipal solid waste treatment plants.
Net sales were up in all segments, but profit was down due mainly to the change in the EPC project mix in the Domestic Environment and Energy Business as well as an increase in depreciation at the new Harima Factory associated with operations, increases in personnel and R&D expenses.
FYE 3/2022 | FYE 3/2023 | FYE 3/2024 | YoY change | |
(Millions of yen) | (FY2021) | (FY2022) | (FY2023) | |
Orders received | 192,244 | 168,558 | 160,568 | (4.7%) |
Order backlog | 445,304 | 471,211 | 482,612 | 2.4% |
Net sales | 134,092 | 142,651 | 149,166 | 4.6% |
Operating profit | 9,928 | 13,813 | 10,229 | (25.9%) |
Operating margin | 7.4% | 9.7% | 6.9% | (2.8pt) |
Ordinary profit | 10,647 | 14,684 | 11,166 | (24.0%) |
Profit attributable to owners of parent | 7,434 | 9,621 | 8,754 | (9.0%) |
Basic earnings per share (yen) | 91.53 | 120.22 | 109.43 | (9.0%) |
- EPC: Engineering, procurement, and construction; one approach we use in our plant construction business. * O&M: Operation and maintenance; one approach we use in our plant operation business.
- DBO: Design, build, and operate; one approach we use in our plant construction and operation businesses (EPC + O&M).
Copyright 2024 TAKUMA Co., Ltd. All Rights Reserved. | 4 |
FY2023 (Ended 3/2024)
Profit Variance Analysis
Profit was down due to the change in the EPC project mix in the Domestic Environment and Energy Business as well as an increase in depreciation at the new Harima Factory associated with operations, increases in personnel and R&D expenses.
Breakdown of ordinary profit variance
(Billions of yen)
SG&A | Gross profit |
Copyright 2024 TAKUMA Co., Ltd. All Rights Reserved. | 5 |
FY2023 (Ended 3/2024)
Financial Highlights by Segments
(Millions of yen) | FYE 3/2022 | FYE 3/2023 | FYE 3/2024 | YoY change | |||
(FY2021) | (FY2022) | (FY2023) | |||||
Orders received | |||||||
Total | 192,244 | 168,558 | 160,568 | (4.7%) | |||
Domestic Environment and Energy | 164,865 | 130,280 | 131,567 | 1.0% | |||
Overseas Environment and Energy | 2,035 | 5,922 | 2,280 | (61.5%) | |||
Package Boiler | 16,830 | 18,400 | 18,666 | 1.4% | |||
Equipment and Systems | 8,917 | 14,328 | 8,403 | (41.4%) | |||
Net sales | |||||||
Total | 134,092 | 142,651 | 149,166 | 4.6% | |||
Domestic Environment and Energy | 108,657 | 115,985 | 119,190 | 2.8% | |||
Overseas Environment and Energy | 1,005 | 1,351 | 2,440 | 80.6% | |||
Package Boiler | 16,498 | 17,312 | 18,492 | 6.8% | |||
Equipment and Systems | 8,590 | 8,360 | 9,437 | 12.9% | |||
Operating profit | |||||||
Total | 9,928 | 13,813 | 10,229 | (25.9%) | |||
Domestic Environment and Energy | 10,906 | 14,875 | 11,228 | (24.5%) | |||
Overseas Environment and Energy | (218) | (172) | 184 | - | |||
Package Boiler | 672 | 915 | 1,177 | 28.6% | |||
Equipment and Systems | 656 | 826 | 341 | (58.7%) | |||
* Adjustments are omitted. | |||||||
Copyright 2024 TAKUMA Co., Ltd. All Rights Reserved. | 6 |
Domestic Environment and Energy Business
Orders received / Order backlog
Orders received were up owing to orders for Energy Plants and Water Treatment Plants in addition to a DBO projects for a municipal solid waste treatment plant, despite contract cancellations for some energy plant projects.
- Orders received: Up owing to orders for 2 waste treatment plant DBO projects, 8 Energy Plants (6 FIT projects, 1 self-consumption project, and 1 industrial waste treatment project), a large-scale renewal of a sand filtration system for a sewage treatment plant, and a sludge treatment facility DBM project.
- The order backlog is on the rise owing to steady orders for long-term O&M (such as DBO and BTO projects). Around 55% of the backlog is long-term O&M.
- DBM: Design, Build, and Maintenance. These projects take the form of EPC + long-term maintenance agreements.
- BTO: Build, transfer, and operate; one approach we use in our plant construction and operation businesses (EPC + O&M).
Orders received
(Millions of yen) | Approx. ¥1.2 billion increase |
Order backlog
(Millions of yen) | Approx. ¥12.3 billion increase |
160,591 | 164,865 | ||||||||||||
123,154 | 130,280 | 131,567 | |||||||||||
Order backlog | 447,646 | |
Long-term O&M (10 years or more) | 433,351 | |
377,143 | ||
337,322 |
460,023 |
Long-term |
O&M |
Approx. 55% |
FYE 3/2020 | FYE 3/2021 | FYE 3/2022 | FYE 3/2023 | FYE 3/2024 |
FYE 3/2020 | FYE 3/2021 | FYE 3/2022 | FYE 3/2023 | FYE 3/2024 |
Copyright 2024 TAKUMA Co., Ltd. All Rights Reserved. | 7 |
Domestic Environment and Energy Business
Net Sales / Operating Profit
Sales were up, but profit was down due to a change in the EPC project mix as well as an increase in depreciation at the new Harima Factory associated with operations, increases in personnel and R&D expenses.
- Net sales: Up owing to an increase in municipal solid waste treatment plants(after-sales service).
- Operating profit: Down due to changes in the EPC project mix, increased depreciation at the new Harima Factory associated with operations, and increased operating expenses such as personnel and R&D expenses as well as the recording of costs for measures at a waste treatment plant (gasification melting furnace) under O&M contract in Q2.
Net sales
(Millions of yen) | Approx. ¥3.2 billion increase | |
120,770 | 115,985 | 119,190 | ||
108,123 | 108,657 | |||
FYE 3/2020 | FYE 3/2021 | FYE 3/2022 | FYE 3/2023 | FYE 3/2024 |
Operating profit | ||||||
(Millions of yen) | Approx. ¥3.6 billion decrease | |||||
operating profit | operating margin | |||||
12.8% | ||||
9.8% | 9.5% | 10.0% | 9.4% | |
14,875 | ||||
10,619 | 11,475 | 10,906 | 11,228 | |
FYE 3/2020 | FYE 3/2021 | FYE 3/2022 | FYE 3/2023 | FYE 3/2024 |
Copyright 2024 TAKUMA Co., Ltd. All Rights Reserved. | 8 |
Domestic Environment and Energy Business
Breakdown by Product / Service
Orders received were up for municipal solid waste treatment plants (after-sale services) and Water Treatment Plants, etc. Sales were up, mainly owing to an increase in a municipal solid waste treatment plant.
Orders received
Water Treatment Plants, etc.
Energy Plants
Municipal Solid Waste Treatment Plants (After-sales service) Municipal Solid Waste Treatment Plants (EPC)
(100M yen)
Net sales
Water Treatment Plants, etc.
Energy Plants
Municipal Solid Waste Treatment Plants (After-sales service) Municipal Solid Waste Treatment Plants (EPC)
(100M yen)
Order backlog
Water Treatment Plants, etc.
Energy Plants
Municipal Solid Waste Treatment Plants (After-sales service) Municipal Solid Waste Treatment Plants (EPC)
(100M yen)
2,000
1,400
5,000
4,600 |
1,600
1,200
800
400
0
1,648 |
103 |
329 |
787 |
425 |
1,302 |
107 |
322 |
529 |
340 |
1,315 |
280 |
257 |
578 |
196 |
1,200
1,000
800
600
400
200
0
1,086 |
83 |
291 |
405 |
301 |
1,159 |
121 |
335 |
418 |
282 |
1,191 |
111 |
288 |
453 |
335 |
4,000
3,000
2,000
1,000
0
4,333 |
128 |
771 |
2,217 |
1,215 |
4,476 |
115 |
758 |
2,329 |
1,273 |
284 |
728 |
2,454 |
1,133 |
FYE 3/2022 | FYE 3/2023 | FYE 3/2024 |
* Adjustments are omitted.
Copyright 2024 TAKUMA Co., Ltd. All Rights Reserved.
FYE 3/2022 | FYE 3/2023 | FYE 3/2024 |
FYE 3/2022 | FYE 3/2023 | FYE 3/2024 |
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TAKUMA Co. Ltd. published this content on 23 May 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 23 May 2024 01:08:05 UTC.