DIC CORPORATION 4631.T : Tokyo Stock Exchange
Consolidated Financial Results FY2021: Three Months Ended March 31
May 2021
COPYRIGHT © DIC CORPORATION ALL RIGHTS RESERVED.
Highlights
FY2021 three months results
- Consolidated net sales were up. Despite the persistent spread of the COVID-19 pandemic, the global economy picked up, led by the United States and the People's Republic of China (PRC). In Japan, economic activity recovered in multiple areas, notably automobile manufacturing, as a result of which shipments of a variety of high-value-added products, including materials for use in semiconductor devices, electrical and electronics equipment, and automobiles, rallied. Shipments of materials for use in daily necessities such as food packaging were also firm, particularly in overseas markets.
- Operating income increased. In addition to expanded shipments of high-value-added products, the sharp increase in operating income reflected broad-based efforts to curb costs and successful efforts to address elevated raw materials costs, particularly in the Americas and Europe, by adjusting sales prices.
- Net income attributable to owners of the parent increased, owing to a decline in non-operating expenses and extraordinary income from a gain on sales of subsidiaries' and affiliates' securities.
FY2021 forecasts
- DIC has revised its operating results forecasts for the first half of fiscal year 2021, but given the likelihood of sharp increases in raw materials prices its full-term forecasts are currently unchanged. Operating results forecasts are scheduled for revision following the completion of DIC's acquisition of BASF SE's Colors & Effects business.
- The Company's annual dividend forecast of ¥100 per share has not been revised.
The fiscal year of all overseas and domestic companies in the DIC Group ends on December 31. This document presents consolidated results for the first quarter of fiscal year 2021, ended March 31, 2021.
COPYRIGHT © DIC CORPORATION ALL RIGHTS RESERVED. | 2 |
Quarterly trends in segment results
Net sales
190.3
181.7
(Billion yen)
186.9
170.6
Operating income (Billion yen)
Progress rate as per the full year operating income forecasts
3M | 6M | 9M | FY | |
2021（％） | 31.0 | - | - | - |
2020（％） | 28.4 | 51.0 | 73.1 | 113.3 |
99.3
162.1
102.4
90.8
102.2
96.1
14.0 | 14.1 | |
5.4 | ||
9.9 | 8.2 |
7.97.7
4.0 3.0
29.5 28.8
25.0 | |
61.2 | 66.6 |
53.3 |
25.3
55.9
25.9
65.6
4.7 | 4.8 | 2.2 | ||
2.7 | ||||
7.6 | 1.9 | 1.7 | ||
4.8 | 5.9 | |||
3.33.1
(8.4) | (7.6) | (7.1) | (6.8) | (6.8) | |||
1Q | 2Q | 3Q | 4Q | ||||
2020 | 2021 | 2020 | 2021 | 2020 | 2021 | 2020 | 2021 |
Packaging & Graphic | Color & Display | ||||||
(1.6) | (2.0) | (2.0) | (1.9) | (2.2) | |||||
1Q | 2Q | 3Q | 4Q | ||||||
2020 | 2021 | 2020 | 2021 | 2020 | 2021 | 2020 | 2021 | ||
Functional Products | Others, Corporate and eliminations | ||||||||
COPYRIGHT © DIC CORPORATION ALL RIGHTS RESERVED. | 3 |
Summary of financial results
(Billion yen) | |
Net sales | |
Operating income | |
Operating margin | |
Ordinary income | |
Net income* | |
EPS (Yen) | |
EBITDA** | |
Average rate | YEN/US$ |
YEN/EUR |
2020 | 2021 |
3 Months | 3 Months |
181.7 190.3
9.9 14.0
5.5% | 7.3% |
8.3 14.8
- 10.2
- 107.73
- 21.4
- 106.17
- 127.88
% Change | |
% Change | on a local |
currency basis | |
+4.7% | +4.2% |
+40.7% | +40.4% |
－ | － |
+78.6% | － |
+121.4% | － |
－ | － |
+48.9% | － |
-2.3% | |
+6.9% |
- Net income attributable to owners of the parent
- EBITDA: Net income attributable to owners of the parent + Total income taxes + (Interest expenses - Interest income) + Depreciation and amortization
COPYRIGHT © DIC CORPORATION ALL RIGHTS RESERVED. | 4 |
Consolidated statement of income
(Billion yen) | 2020 | 2021 | Change |
3 Months | 3 Months | ||
Net sales | 181.7 | 190.3 | 8.6 |
Cost of sales | (140.6) | (145.0) | -4.4 |
Selling, general and administrative expenses | (31.1) | (31.3) | -0.2 |
Operating income | 9.9 | 14.0 | 4.0 |
Interest expenses | (0.3) | (0.2) | 0.1 |
Equity in earnings (losses) of affiliates | (0.2) | 0.2 | 0.4 |
Foreign exchange gains (losses) | (0.2) | 0.4 | 0.6 |
Extraordinary income and loss
Extraordinary income
Gain on sales of subsidiaries' and affiliates' securities
Extraordinary loss Acquisition-related expenses* Loss on disposal of non-current assets Severance costs
2020 | 2021 |
3 Months | 3 Months |
- | 0.8 |
(1.0) | (1.2) |
(0.5) | (0.5) |
(0.1) | (0.0) |
Other, net | (0.9) | 0.4 | 1.4 | |
Ordinary income | 8.3 | 14.8 | 6.5 | |
Extraordinary income | - | 0.8 | 0.8 | |
Extraordinary loss | (1.7) | (1.7) | -0.1 | |
Income before income taxes | 6.6 | 13.9 | 7.2 | |
Income taxes | (1.5) | (2.9) | -1.4 | |
Net income | 5.1 | 11.0 | 5.8 | |
Net income attributable to non-controlling interests | (0.5) | (0.8) | -0.2 | |
Net income attributable to owners | 4.6 | 10.2 | 5.6 | |
of the parent | ||||
Average rate | YEN/US$ | 108.72 | 106.17 | |
YEN/EUR | 119.68 | 127.88 |
*Acquisition of BASF SE's Colors & Effects business
COPYRIGHT © DIC CORPORATION ALL RIGHTS RESERVED. | 5 |
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DIC Corporation published this content on 14 May 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 14 May 2021 15:00:04 UTC.
