Kansai Paint : Presentation Material of Financial Results for First Quarter of FY2023
August 08, 2023 at 07:19 am
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Financial Results for the First Quarter of FY2023
Aug.8th 2023
Agenda
1. Summary of Financial Results for 1Q of
P3-9
FY2023
2. Financial Summary by Region
P10‐14
3. Shareholder Return
P15
2
Key Points for Financial Results of 1Q of FY2023
Achieved an increase in sales and a significant increase in profit YoY
Driven by the automotive sector, sales increased due to volume growth and the effect of price revisions, and net sales reached a record high for the quarter
Operating income increased significantly (Decrease in raw material prices and price revisions absorbed increase in fixed costs)
Significant improvement in India due to strong performance in automotive and industrial sectors
Progress in the sale of cross share holding (approximately 34.1 billion yen sold, bringing the ratio to net assets from approx.13.9% to approx. 4.8%)
Treasury stock retirement was completed and Treasury stock ratio reduced from approx. 15% to approx. 5% on a consolidated basis
Sold land in India and recorded a gain on sales of fixed assets of approximately 11.2 billion yen
Improvements in profitability and capital efficiency are progressing as planned
/ 3
Consolidated results of 1Q FY2023
JPY billion
1Q
1Q
YOY
YOY(%)
FY2022
FY2023
Net sales
120.4
136.4
16.0
13.3%
Operating income
8.5
12.1
3.6
42.6%
Segment Income
10.0
13.6
3.6
36.4%
Ordinary income
13.2
17.0
3.8
28.6%
EBITDA
14.6
18.9
4.3
29.3%
EBITDA margin
12.1%
13.8%
1.7pt
-
Net income
6.5
37.6
31.2
483.1%
Steady progress in price revisions in all regions and increased revenues
Operating income and segment income increased significantly due to price revisions and lower raw material costs
Net income increased significantly due to gain on sale of cross share holding and gain on sale of land in India
4
Consolidated Financial Results (Progress against announced figures)
JPY billion
FY2023
FY2023
Progress
Guidance
against
1Q Result
FY 2023
as of May.
guidance
Net sales
550
136
24.8%
Operating income
42
12
28.8%
Segment Income
46
14
29.9%
Ordinary income
45
17
37.7%
EBITDA
67
19
28.2%
EBITDA margin (%)
12.2%
13.8%
1.6pt
Net income
55
38
68.4%
The company made a good start against the full-year plan Improvements in segment profit and EBITDA were particularly pronounced
/ 5
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Kansai Paint Co. Ltd. published this content on 08 August 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 08 August 2023 06:18:28 UTC.
KANSAI PAINT CO., LTD. is a paint manufacturing company. The Company has five reporting segments, including Japan, India, Asia, Africa and Europe. The Company involves in the manufacture and sale of automobile paints, industrial paints, construction paints, heavy-duty coating paints, vessel paints and housing paints among others.