FY2013 Third Quarter consolidated highlights

Transcription

1 FY2013 Third Quarter consolidated highlights pages Ⅰ. Overview of Consolidated Results 1 Ⅱ. Summary of Consolidated cumulative Q Results 2 Ⅲ. and Net by products / 4 Ⅳ. Order situation of 5 Jan 31, 2014 Sanwa Holdings Corpon

2 Ⅰ. Overview of Consolidated Results JPYm USDk EURk FY2012 FY2013 3Q 3Q YTD 4Q Full Year 3Q 3Q YTD 4Q(F) Full Year(F) Net Operating Current Other Affiliates Net 56, % 176, % 89, % 265, % 26, % 88, % 53, % 142, % 5, % 17, % 8, % 25, % $218, % $625, % $241, % $866, % 17, % 49, % 19, % 69, % 80, % 249, % 89, % 338, % 7, % 25, % 9, % 35, % 1, % 5, % 162.7% 8, % 14, % 60.1% 825 (+) 3, % 511.2% 5, % 8, % 111.5% 78 (+) % (+) % % (+) $10, % $22, % $26, % $49, % % 1, % 47.4% 2, % 3, % 26.9% 3, % 2, % 4, % 7, % % % -42.7% % % -35.4% 1, % 5, % 220.1% 8, % 13, % 70.8% 889 (+) 3, % 378.5% 5, % 8, % 106.1% 88 (+) % (+) % % (+) $10, % $22, % $25, % $48, % % 1, % 57.1% 2, % 3, % 33.3% 4, % 2, % 4, % 7, % % % -8.7% % % -24.9% -38 (+) % (+) 31 (+) % (+) 1,021 (+) 2, % (+) 4, % 7, % 117.8% 506 (+) 1, % (+) 3, % 5, % 157.4% 19 (+) % (+) % % (+) $7, % $11, % $12, % $24, % % % 82.6% 1, % 1, % 43.3% 2, % % 1, % 2, % % % -43.6% % % -56.4% -38 (+) % (+) 31 (+) % 68, % 203, % 96, % 300, % 62, % 185, % 93, % 279, % 31, % 96, % 56, % 153, % 6, % 18, % 7, % 26, % $228, % $646, % $255, % $902, % 22, % 62, % 23, % 85, % 78, % 239, % 95, % 335, % 10, % 30, % 11, % 41, % 3, % 8, % 58.7% 8, % 17, % 21.3% 3, % 7, % 8, % 16, % 1, % 5, % 69.6% 5, % 10, % 21.6% % % 220.7% % 1, % 40.6% $13, % $24, % $26, % $51, % 1, % 2, % 30.1% 2, % 4, % 23.3% 4, % 2, % 4, % 7, % % % 9.8% % % 13.5% 3, % 8, % 58.6% 8, % 16, % 20.1% 3, % 7, % 8, % 15, % 1, % 5, % 66.7% 5, % 10, % 20.7% % % 191.5% % 1, % 37.9% $14, % $24, % $25, % $49, % 1, % 2, % 32.3% 2, % 4, % 21.9% 3, % % 3, % 4, % % % -94.2% % % -34.6% 122 (+) % 18.9% % % 63.7% 2, % 3, % 31.9% 4, % 8, % 14.2% 2, % 3, % 4, % 7, % 1, % 2, % 20.8% 3, % 5, % 1.2% % % 268.3% % % 11.1% $3, % $6, % $18, % $24, % % % -37.3% 1, % 2, % 18.0% 1, % -380 (-) % % % % (-) % % -88.0% 122 (+) % 18.9% % % 63.7% 1) The relevant financial periods for each entity are as follows: First Half Full Year & Japanese subsidiaries: Apr.1 to Sep.30 Apr.1 to Mar.31 following year ODC & Novoferm: Jan.1 to Jun.30 Jan.1 to Dec.31 2) Figures are round off. <+> is for increase, <-> is for decrease from the previous year. 3) Each figure by entities is before consolidation adjustment

3 Ⅱ. Summary of Consolidated cumulative Q3 FY2013 Results summary Net Operating Current Net Net : Consolidated results of cumulative Q3 FY2013 recorded a double-digit increase compared to the same period last year partially due to weakening Japanese Yen (If using 2012 currency rate, it would have increased by 5.6%).Japanese & the US(ODC) businesses increased whereas European (Novoferm) business decreased in local currency compared to the same period last year. Operating : Consolidated results of cumulative Q3 FY2013 increased significantly by almost 60% (If using 2012 currency rate, it would have increased by almost 50%) driven by Japanese business. The US business also increased whereas European business decreased in local currency. Net of cumulative 3Q FY2013 increased significantly by 27.1 Billion Japanese Yen or 15.4% vs. the same period last year (If using 2012 currency rate, it would have increased by 9.8 Billion Japanese Yen or 5.6% vs. the same period last year) JPN : Increased by 9.2% vs. the same period last year. Regarding, *Residential products (such as "Residential entrance doors (increased by 51.7%)"& "Window-related products(increased by 27.5%)") and Heavy-duty shutters (Increased by 13.9%) marked a significant growth. *Light weight shutters stayed flat. *Steel doors for both Commercial Buildings & Condominiums/Apartments increased slightly (increased by 4.1%) while those order backlogs have continued to grow (increased by 18.9%). *Maintenance service sales increased. All other Japanese subsidiaries increased. USA : (In local currency) Increased by 3.4% vs. the same period last year. Door business (Access System Divisions) increased by 4.2% driven by favorable results of garage doors and commercial doors/shutters. Operators sales increased by 7.9% driven by strong sales at big retailers. Automatic doors increased by 9.5% driven by continued growth of service business. Truck/Trailer doors stayed flat due to slowdown of transportation industry in 3Q (increased by 0.1%). EU : (In local currency) Decreased by 4.0% vs. the same period last year. Hinge doors and door frames decreased by 0.1%, Garage doors decreased by 8.5%, Industrial doors decreased by 2.4%. Operating of cumulative 3Q FY2013 increased by 3.09 Billion Japanese Yen vs. the same period last year (If using 2012 currency rate, it would have increased by 2.6 Billion Japanese Yen vs. the same period last year). JPN : increased by 2.18 Billion Japanese Yen vs. the same period last year driven by higher volume and sales price increase realization. Other Japanese subsidiaries increased by 0.38 Billion Japanese Yen vs. the same period last year. All of Japanese subsidiaries increased, especially Sanwa Tajima showed a significant improvement (increased by 0.26 Billion Japanese Yen). USA : (In local currency) Increased by $1.5M vs. the same period last year driven by higher sales volume partially offset by ERP implementation costs and ODC France liquidation related costs. EU : (In local currency) September YTD decreased by 0.3M Euro vs. the same period last year. Q3 2013, increased by 0.9M Euro driven by business restructuring efforts. Current of cumulative 3Q FY2013 increased by 3.02 Billion Japanese Yen compared to the same period last year. Equity method income of cumulative 3Q FY2013 increased by 0.02 Billion Japanese Yen compared to the same period last year. Net of cumulative 3Q FY2013 increased by 0.81 Billion Japanese Yen compared to the same period last year despite special expenses associated with Europe business restructuring costs were booked

4 Forecast of FY2013 Consolidated Net and Operating summary The company didn't revise its forecasts from those announced on Oct 31, Net Operating Maintain the revised forecast as of Oct.31, 2013 (300 Billion Japanese Yen, which will be increased by 12.8% vs. FY2012) driven by strong sales in Japanese business and higher sales volume in US business. JPN : Net sales of FY2013 will surpass the forecast driven by higher order volume of and strong sales of other Japanese subsidiaries. USA : Although strong sales of garage doors & operators and recovery of commercial doors/shutters are expected sales foresees slight decrease vs. the forecast due to slowdown of Truck/Trailer doors business and unfavorable results of Canadian service business(cds). EU : Although EU markets show sign of bottoming out, NF expects to slightly fall short of the forecast due to sluggish garage door sales. Maintain the revised forecast as of Oct.31, 2013 (17.2 Billion Japanese Yen, which will be increased by 21.3% vs. FY2012) driven by favorable trend in Japanese business and stable performance in overseas business. JPN : Operating income of FY2013 will exceed the forecast driven by sales volume increase and price increase realization of. USA : ODC leaves the forecast unchanged thanks to sales volume increase, cost reduction initiatives of operator's business and weakening Japanese Yen. EU : NF expects to reach the forecast driven by additional cost reduction initiatives from 2H of FY

5 Ⅲ. and Net by products / Rolling Shutters Shutterrelated Products Doors Lightweight Heavy-duty Overhead Doors Commercial Buildings/ Condominiums Residential Window-related Products Exterior Fittings Aluminum Fronts Automatic door operator Total Commercial Building Materials Shop-related Materials Residential Housing Materials Maintenance & Repair Partitions Stainless-Steel Entrances Outstanding Work-in-process JPYm % FY2012 FY2013 3Q YTD Full Year 3Q YTD Full Year(F) <11.9> <11.4> <10.4> <9.4> <0.3> <0.1> <-0.9> <-0.7> 20, , , , , , , , <10.7> <12.5> <13.3> <8.8> <25.2> <13.9> <18.1> <14.1> 19, , , , , , , , <11.3> <11.9> <11.8> <9.1> <12.3> <6.2> <8.7> <6.6> 40, , , , , , , , <2.8> <-1.7> <3.2> <-0.7> <12.6> <8.0> <8.7> <5.3> 4, , , , , , , , , , , , , , , , <4.4> <5.1> <6.4> <4.5> <12.4> <7.8> <11.3> <8.6> 11, , , , , , , , <16.8> <23.7> <15.0> <17.3> <18.9> <4.1> <9.7> <5.2> 34, , , , , , , , <-20.3> <-20.1> <-14.0> <-13.9> <52.0> <51.7> <32.2> <32.1> 1, , , , , , , , <15.1> <20.7> <13.8> <15.9> <20.0> <6.3> <10.4> <6.1> 35, , , , , , , , <5.7> <5.3> <8.0> <7.3> <27.4> <27.5> <16.2> <16.8> 4, , , , , , , , <-5.0> <-8.5> <-8.1> <-9.7> <24.7> <11.7> <16.2> <10.8> 2, , , , , , , , <30.4> <23.0> <29.8> <15.0> <24.2> <17.3> <24.4> <15.2> 5, , , , , , , , <10.8> <-10.2> <14.3> <6.5> <22.8> <6.2> <15.0> <1.8> 2, , , , , , , , <8.9> <17.5> <7.9> <13.5> <4.7> <2.7> <-1.0> <2.4> <20.1> <18.9> <17.4> <22.7> 1, , , , , , , , , , , , , , , , <19.1> <20.1> <18.1> <14.7> <16.8> <19.2> <15.5> <9.2> 14, , , , , , , , <12.1> <13.5> <12.0> <11.0> <16.3> <9.3> <10.9> <7.5> 108, , , , , , , , <16.8> <20.2> <17.3> <15.5> <21.5> <8.9> <14.8> <9.1> 66, , , , , , , , <14.3> <13.6> <12.5> <10.9> <-0.0> <-0.4> <-0.5> <-0.5> 16, , , , , , , , <-0.1> <-1.2> <1.8> <1.1> <31.9> <28.9> <19.3> <18.5> 8, , , , , , , , <-3.0> <-3.2> <-3.5> <-4.0> <4.4> <2.5> <0.0> <0.5> 14, , , , , , , , <29.9> <131.6> <20.6> <53.1> <5.1> <65.9> <17.3> <22.1> 2, , , , , , , , ,001 51,651 27,848 13,465 81,552 61,292 27,542 16,600 1) < >= % year on year 2) Outstanding = Unordered, unpurchased and work-in-process - 4 -

6 Ⅳ. Order situation of (Mill Yen) 16,000 15,000 14,000 13,000 Order sitiation of ( Apr.2011-Dec.2013 ) Business Suspension impact in Nov.2010 Result of order intake (L-axis) yoy (R-axis) (%) ,000 11,000 10,000 9,000 8,000 7,000 6,000 5,000 Apr.2011 May June July Aug Sep Oct Nov Dec June.2012 Feb Mar Current order situation (Q : Oct - Dec) The order volume continues to increase by almost 20% vs. Same Period of Apr May June July Aug Sep Oct Nov Dec Jan.2013 Feb Mar Apr May June July Aug Sep Oct Nov Dec Order volume of residential products continues to be strong despite concern generated from a last-minute demand before the consumption tax hike. Demand of non-residential products continues strong, especially Heavy-duty shutters and Steel doors for retail stores and distribution centers, etc. It is expected that order volume will continue to be strong since pursuing projects will remain at a high level