FY2001 Financial Results

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FY2001 Financial Results

  1. 1. FY2001 Financial Results & FY2002 Financial Forecast 21 May 2002 Organo Corporation
  2. 2. FY2001 Financial Results and FY2002 Financial Forecast - Contents - 1. FY2001 Financial Results and FY2002 Financial Forecast .......................... 1 1) Consolidated Results and Forecast .......................... 1 2) Unconsolidated Results and Forecast .......................... 2 3) Consolidated Cash Flow .......................... 3 4) Consolidated Segment Info. by Business .......................... 4 5) Segment Info. by Business (Unconsolidated Basis) .......................... 5 6) Segment Info. by Industry (Unconsolidated Basis) .......................... 6 7) Electronics Industry (Unconsolidated Basis) .......................... 7 2. Major Financial Indicators .......................... 8
  3. 3. 1. FY2001 Financial Results and FY2002 Financial Forecast 1) Consolidated Results and Forecast (millions of yen) FY2000 FY2001(A) FY2002(B) Change FY2002 1st Half Actual % Actual % Forecast % (B)-(A) Forecast % [ Remarks for FY2002 Forecast ] Net Sales 88,704 100.0 79,553 100.0 72,500 100.0 (7,053) 30,000 100.0 Decrease due to decrease of backlog and continuing Growth (%) 27.8 (10.3) (8.9) (23.8) decline in capital investment. Gross Profit 20,109 22.7 18,731 23.5 18,200 25.1 (531) 8,150 27.2 Growth (%) 14.5 (6.9) (2.8) (14.0) SG & A Expenses 15,163 17.1 15,184 19.0 14,500 20.0 (684) 7,100 23.7 Decrease mainly due to reduction of personnel cost Growth (%) (5.0) 0.1 (4.5) (1.8) of parent company. Operating Income 4,945 5.6 3,546 4.5 3,700 5.1 154 1,050 3.5 Increase due to decrease of SG&A expenses. Growth (%) 210.2 (28.3) 4.3 (53.3) Ordinary Income 5,048 5.7 3,620 4.6 3,500 4.8 (120) 1,000 3.3 Decrease due to increase of nonoperating loss Growth (%) 212.8 (28.3) (3.3) (53.2) Net Income (237) (0.3) 1,409 1.8 1,700 2.3 291 500 1.7 Increase due to no evaluation loss on securities. Growth (%) - - 20.6 (44.1) Overseas Sales 5,852 6.6 6,725 8.5 6,500 9.0 (225) 3,000 10.0 Growth (%) 40.5 14.9 (3.3) (22.6) Order Received 95,693 64,364 69,000 4,636 32,000 Prospecting recovery of capital investment demand Growth (%) 34.0 (32.7) 7.2 (16.0) in the 2nd half. •| 1 •|
  4. 4. 2) Unconsolidated Results and Forecast (millions of yen) FY2000 FY2001(A) FY2002(B) Change FY2002 1st Half Actual % Actual % Forecast % (B)-(A) Forecast % [ Remarks for FY2002 Forecast ] Net Sales 74,526 100.0 67,268 100.0 60,000 100.0 (7,268) 25,000 100.0 Decrease due to decrease of backlog and continuing Growth (%) 29.7 (9.7) (10.8) (24.7) decline in capital investment. Gross Profit 15,017 20.2 14,256 21.2 13,730 22.9 (526) 5,750 23.0 Growth (%) 13.4 (5.1) (3.7) (20.8) SG & A Expenses 11,101 14.9 11,236 16.7 10,630 17.7 (606) 4,950 19.8 Decrease due to implementation of fixed costs reduction Growth (%) (8.5) 1.2 (5.4) (5.9) measure including reduction of personnel cost. Operating Income 3,915 5.3 3,020 4.5 3,100 5.2 80 800 3.2 Increase due to decrease of SG&A expenses. Growth (%) 252.3 (22.9) 2.6 (60.0) Ordinary Income 4,073 5.5 3,198 4.8 3,000 5.0 (198) 800 3.2 Decrease due to non operating income fall into the red. Growth (%) 226.6 (21.5) (6.2) (59.4) Net Income (517) (0.7) 1,273 1.9 1,500 2.5 227 450 1.8 Increase due to no evaluation loss on securities. Growth (%) - - 17.8 (50.4) Overseas Sales 3,267 4.4 4,211 6.3 4,200 7.0 (11) 2,000 8.0 Growth (%) 47.5 28.9 (0.3) (33.6) Order Received 81,721 53,076 58,000 4,924 27,000 Prospecting recovery of capital investment demand Growth (%) 41.4 (35.1) 9.3 (11.9) in the 2nd half. -2-
  5. 5. 3) Consolidated Cash Flow (millions of yen) FY2000 FY2001 FY2002 Actual Actual Forecast 1. Operating cash flow (2,809) 5,467 3,800 2. Investing cash flow (540) (1,301) (1,000) 3. Free cash flow (1+2) (3,349) 4,166 2,800 4. Financing cash flow (1,661) (577) (1,400) 5. Effect of exchange rate changes on cash and cash equivalents 101 95 - 6. Net increase (decrease) in cash and cash equivalents (3+4+5) (4,909) 3,684 1,400 7. Increase in cash and cash equivalents due to addition of consolidated subsidiaries 40 - - 8. Cash and cash equivalents at end of year 9,038 12,723 14,123 [ Remarks for FY2002 Forecast ] Free cash flow Increase due to increase in ordinary profit. Financing cash flow Repayment of interest-bearing debts. •| 3 •|
  6. 6. 4) Consolidated Segment Info. by Business (millions of yen) FY2000 (Actual) FY2001 (Actual) FY2002 (Forecast) FY2002 1st Half (Forecast) Plant & Plant & Plant & Plant & Chemicals Total Chemicals Total Chemicals Total Chemicals Total Equipment Equipment Equipment Equipment Net Sales 72,751 15,953 88,704 63,387 16,166 79,553 54,500 18,000 72,500 22,000 8,000 30,000 Change 20,654 (1,336) 19,317 (9,364) 213 (9,150) (8,887) 1,834 (7,053) (8,241) (1,131) (9,372) Growth (%) 39.6 (7.7) 27.8 (12.9) 1.3 (10.3) (14.0) 11.3 (8.9) (27.3) (12.4) (23.8) Operating Income 3,481 1,464 4,945 1,415 2,130 3,546 1,250 2,450 3,700 100 950 1,050 Margin (%) 4.8 9.2 5.6 2.2 13.2 5.6 2.3 13.6 5.1 0.5 11.4 5.2 Change 3,106 246 3,351 (2,066) 666 (1,399) (165) 320 154 (854) (344) (1,198) Growth (%) 828.3 20.2 210.2 (59.3) 45.5 210.2 (11.7) 15.0 4.3 (89.5) (26.6) (53.3) Order Received 79,943 15,749 95,693 48,786 15,577 64,364 51,000 18,000 69,000 24,000 8,000 32,000 Change 26,294 (2,022) 24,272 (31,157) (172) (31,329) 2,214 2,423 4,637 (4,947) (1,162) (6,109) Growth (%) 49.0 (11.4) 34.0 (39.0) (1.1) 32.7 4.5 15.6 7.2 (17.1) (12.7) (34.2) [ Remarks for FY2002 Forecast ] Plant & Equipment Sales and operating income decrease due to decrease of sales in electronics industry. Chemicals Sales and operating income increase due to increase of sales particulary in maintenance service sector. -4-
  7. 7. 5) Segment Info. by Business (Unconsolidated Basis) Order Received (billions of yen) FY2000 FY2001 FY2002 Actual % Growth(%) Actual % Growth(%) Forecast % Growth(%) Plant 56.0 68.5 67.2 28.9 54.5 (48.4) 30.0 51.7 3.8 Equipment 8.8 10.8 35.4 7.6 14.3 (13.4) 9.5 16.4 25.0 Chemicals 15.0 18.4 (6.8) 15.0 28.3 (0.4) 17.0 29.3 13.3 Others 1.9 2.3 (9.5) 1.5 2.8 (15.6) 1.5 2.6 0.0 Total 81.7 100.0 40.4 53.0 100.0 (35.1) 58.0 100.0 9.4 [ Remarks for FY2002 Forecast ] Plant Expecting recovery of demand in capital investment in the 2nd half. Chemicals Increase of order particularly in maintenance service sector. Net Sales (billions of yen) FY2000 FY2001 FY2002 Actual % Growth(%) Actual % Growth(%) Forecast % Growth(%) Plant 49.9 67.0 55.5 42.0 62.5 (15.7) 32.5 54.2 (22.6) Equipment 7.3 9.8 (2.7) 8.1 12.1 10.5 9.0 15.0 11.1 Chemicals 15.1 20.3 (4.4) 15.5 23.1 2.6 17.0 28.3 9.7 Others 2.2 3.0 10.0 1.6 2.4 (25.9) 1.5 2.5 (6.3) Total 74.5 100.0 29.8 67.2 100.0 (9.7) 60.0 100.0 (10.7) [ Remarks for FY2002 Forecast ] Plant Decrease due to decrease of backlog and continuing decline in capital investment. Chemicals Increase of sales particularly in maintenance service sector. Backlog (billions of yen) FY2000 FY2001 FY2002 Actual % Growth(%) Actual % Growth(%) Forecast % Growth(%) Plant 38.1 91.4 19.1 25.0 91.2 (34.4) 22.5 88.6 (10.0) Equipment 2.4 5.8 150.0 1.9 6.9 (21.3) 2.4 9.4 26.3 Chemicals 1.1 2.6 (8.3) 0.5 1.8 (54.2) 0.5 2.0 0.0 Others 0.1 0.2 (66.7) 0.0 0.0 - 0.0 0.0 - Total 41.7 100.0 21.2 27.4 100.0 (34.1) 25.4 100.0 (7.3) -5-
  8. 8. 6) Segment Info. by Industry (Unconsolidated Basis) Order Received (billions of yen) FY2000 Growth(%) FY2001 Growth(%) FY2002 Growth(%) Actual(A) % Actual(B) % (B)/(A) Forecast(C) % (C)/(B) Electric power 10.7 13.1 3.9 8.7 16.4 (18.7) 8.5 14.7 (2.3) Electronics 37.4 45.8 192.2 13.1 24.7 (65.0) 12.5 21.6 (4.6) Public sector 9.4 11.5 (34.3) 8.4 15.8 (10.6) 10.5 18.1 25.0 General private sector 15.2 18.6 26.7 13.4 25.3 (11.8) 15.5 26.7 15.7 Chemical & foodstuffs 9.0 11.0 2.3 9.4 17.7 4.4 11.0 19.0 17.0 Total 81.7 100.0 40.4 53.0 100.0 (35.1) 58.0 100.0 9.4 [ Remarks for FY2002 Forecast ] Electronics Electronics industries remain stagnant. Public sector Renewal demand for drinking water treatment plant is prospected. General private sector Expand sales of functional products is prospected. Chemical & foodstuffs Increase due to strengthening of sales forces. Net Sales (billions of yen) FY2000 Growth(%) FY2001 Growth(%) FY2002 Growth(%) Actual(A) % Actual(B) % (B)/(A) Forecast(C) % (C)/(B) Electric power 10.5 14.1 (8.7) 10.7 15.9 1.9 9.5 15.8 (11.2) Electronics 28.1 37.7 128.5 21.9 32.5 (22.1) 14.5 24.3 (33.8) Public sector 12.3 16.5 0.0 10.6 15.8 (13.8) 10.0 16.7 (5.7) General private sector 14.7 19.7 17.6 14.5 21.5 (1.4) 15.0 25.0 3.4 Chemical & foodstuffs 8.9 12.0 1.1 9.6 14.3 7.9 11.0 18.3 14.6 Total 74.5 100.0 29.8 67.3 100.0 (9.7) 60.0 100.0 (10.8) [ Remarks for FY2002 Forecast ] Electronics Decrease due to decline of backlog and continuously low new orders. Public sector Renewal demand for drinking water treatment plant is prospected. General private sector Expand sales of functional products is prospected. Chemical & foodstuffs Increase due to strengthening of sales forces. -6-
  9. 9. 7) Electronics Industry (Unconsolidated Basis) Order Received (billions of yen) FY2000 FY2001 Growth FY2002 Growth Actual Actual (%) Forecast (%) Domestic 33.2 9.3 (72.0) 9.5 2.2 Overseas 4.2 3.8 (9.5) 3.0 (21.1) Total 37.4 13.1 (65.0) 12.5 (4.6) Net Sales (billions of yen) FY2000 FY2001 Growth FY2002 Growth Actual Actual (%) Forecast (%) Domestic 25.6 18.1 (29.3) 10.5 (42.0) Overseas 2.5 3.8 52.0 4.0 5.3 Total 28.1 21.9 (22.1) 14.5 (33.8) [ Remarks for FY2002 Forecast ] Capital investment demand remain slow and sales decrease due to decline of backlog and new orders. Overseas sales increase due to completion of project in Taiwan (backlog as at end of FY2001). -7-
  10. 10. 2. Major Financial Indicators (Consolidated) (millions of yen) FY2000 FY2001(A) FY2002(B) Change Growth Actual Actual Forecast (B)-(A) (%) [ Remarks for FY2002 Forecast ] CAPEX 517 1,550 700 (850) (54.8) No large scale investment plan in FY2002. (In FY2001, R&D Expenses 1,608 1,581 1,600 19 1.2 one of subsidiary purchased head-office building) Depreciation 1,536 1,320 1,100 (220) (16.7) Debt with Interest 20,347 20,189 19,000 (1,189) (5.9) Repayment of interest-bearing debts with cash flow increase. Interest, net (285) (266) (300) (34) 12.8 No. of Employee 1,525 1,498 1,468 (30) (2.0) Decrease by attrition. EPS (4.1) 24.3 29.3 5.0 ROA (%) * 5.8 4.1 4.3 0.0 ROE (%) (0.9) 5.1 6.0 0.8 * Ordinary Income / Total Assets (Unconsolidated) (millions of yen) FY2000 FY2001(A) FY2002(B) Change Growth Actual Actual Forecast (B)-(A) (%) [ Remarks for FY2002 Forecast ] CAPEX 350 465 600 135 29.0 R&D Expenses 1,608 1,581 1,600 19 1.2 Depreciation 1,364 985 800 (185) (18.8) Debt with Interest 18,603 17,668 16,500 (1,168) (6.6) Repayment of interest-bearing debts with cash flow increase. Interest, net (217) (180) (200) (20) 11.1 No. of Employee 782 758 720 (38) (5.0) Decrease by attrition. EPS (8.9) 22.0 25.9 3.9 ROA (%) * 5.3 4.0 4.2 0.1 ROE (%) (2.1) 5.1 5.7 0.6 * Ordinary Income / Total Assets -8-

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