FY2020 First Quarter consolidated financial result highlights
1. Overview of Consolidated Results
July 31, 2020
JPYm・% | ||||||||||||||||||||||||
FY2019 | FY2020 | |||||||||||||||||||||||
1Q | 2Q | 1H | Full Year | 1Q | 2Q(F) | 1H(F) | Full Year(F) | |||||||||||||||||
profit | Y/Y | Y/Y | profit | Y/Y | profit | Y/Y | profit | Y/Y | Y/Y | profit | Y/Y | profit | Y/Y | |||||||||||
ratio | ratio | ratio | ratio | ratio | ratio | |||||||||||||||||||
Net Sales | 82,385 | 7.5 | 116,781 | 8.8 | 199,167 | 8.3 | 440,161 | 7.4 | 82,843 | 0.6 | 95,156 | -18.5 | 178,000 | -10.6 | 390,000 | -11.4 | |||||||||||||||||
[assumed forex rate same as the previous year] | [83,886] | [1.8] | [182,542] | [-8.3] | [397,942] | [-9.6] | |||||||||||||||||||||||||||
Sanwa Shutter | 32,198 | 8.7 | 61,463 | 14.7 | 93,661 | 12.6 | 210,407 | 6.0 | 31,199 | -3.1 | 54,700 | -11.0 | 85,900 | -8.3 | 191,300 | -9.1 | |||||||||||||||||
Japanese Subsidiaries | 7,762 | 30.0 | 11,011 | 21.7 | 18,774 | 25.0 | 51,180 | 44.6 | 9,172 | 18.2 | 14,727 | 33.7 | 23,900 | 27.3 | 52,700 | 3.0 | |||||||||||||||||
ODC (U.S.A.) | 27,436 | 6.1 | 28,951 | -3.1 | 56,387 | 1.1 | 118,477 | 1.6 | 27,654 | 0.8 | 18,860 | -34.9 | 46,515 | -17.5 | 98,752 | -16.6 | |||||||||||||||||
Novoferm (Europe) | 17,609 | -1.1 | 18,908 | 3.3 | 36,517 | 1.2 | 74,923 | 2.0 | 17,271 | -1.9 | 12,398 | -34.4 | 29,670 | -18.8 | 63,595 | -15.1 | |||||||||||||||||
ASIA | 1,123 | 1,500 | 2,624 | 6,421 | 1,307 | 16.3 | 1,860 | 24.0 | 3,168 | 20.7 | 7,367 | 14.7 | |||||||||||||||||||||
Operating Income | 696 | 0.8 | +684 | 10,368 | 6.6 | 11,064 | 5.6 | 13.6 | 34,217 | 7.8 | 8.3 | 344 | 0.4 | -351 | 4,755 | -54.1 | 5,100 | 2.9 | -53.9 | 22,000 | 5.6 | -35.7 | |||||||||||
[assumed forex rate same as the previous year] | [370] | [-325] | [5,116] | [-53.8] | [22,229] | [-35.0] | |||||||||||||||||||||||||||
Sanwa Shutter | -305 | -0.9 | +480 | 7,858 | 26.3 | 7,553 | 8.1 | 39.0 | 21,172 | 10.1 | 15.4 | -281 | -0.9 | +23 | 5,681 | -27.7 | 5,400 | 6.3 | -28.5 | 17,000 | 8.9 | -19.7 | |||||||||||
Japanese Subsidiaries | -132 | -1.7 | +263 | 335 | -19.1 | 203 | 1.1 | 1,007.0 | 2,583 | 5.0 | 112.8 | -587 | -6.4 | -455 | 1,011 | 201.8 | 424 | 1.8 | 108.8 | 2,360 | 4.5 | -8.7 | |||||||||||
ODC (U.S.A.) | 979 | 3.6 | -119 | 1,720 | -27.9 | 2,700 | 4.8 | -22.5 | 9,033 | 7.6 | 2.9 | 1,098 | 4.0 | +118 | -957 | <-> | 140 | 0.3 | -94.8 | 3,045 | 3.1 | -66.3 | |||||||||||
Novoferm (Europe) | 486 | 2.8 | +11 | 863 | 1.6 | 1,349 | 3.7 | 1.9 | 3,692 | 4.9 | -3.7 | 335 | 1.9 | -150 | -212 | <-> | 123 | 0.4 | -90.9 | 1,702 | 2.7 | -53.9 | |||||||||||
ASIA | -78 | -6.9 | -53 | -132 | -5.1 | -348 | -5.4 | 42 | 3.2 | +121 | -30 | <+> | 11 | 0.3 | <+> | 60 | 0.8 | <+> | |||||||||||||||
Ordinary Income | 630 | 0.8 | +647 | 10,156 | 9.6 | 10,786 | 5.4 | 16.6 | 33,469 | 7.6 | 10.0 | 12 | 0.0 | -617 | 4,587 | -54.8 | 4,600 | 2.6 | -57.4 | 21,000 | 5.4 | -37.3 | |||||||||||
[assumed forex rate same as the previous year] | [26] | [-604] | [4,592] | [-57.4] | [21,186] | [-36.7] | |||||||||||||||||||||||||||
Sanwa Shutter | -252 | -0.8 | +460 | 7,915 | 25.9 | 7,662 | 8.2 | 37.5 | 21,396 | 10.2 | 15.2 | -233 | -0.7 | +18 | 5,733 | -27.6 | 5,500 | 6.4 | -28.2 | 17,200 | 9.0 | -19.6 | |||||||||||
Japanese Subsidiaries | -112 | -1.4 | +269 | 362 | -18.2 | 250 | 1.3 | 308.9 | 2,674 | 5.2 | 108.6 | -568 | -6.2 | -456 | 1,021 | 181.6 | 453 | 1.9 | 80.9 | 2,409 | 4.6 | -9.9 | |||||||||||
ODC (U.S.A.) | 788 | 2.9 | -226 | 1,547 | -31.3 | 2,335 | 4.1 | -28.5 | 8,453 | 7.1 | 3.1 | 930 | 3.4 | +142 | -1,182 | <-> | -252 | -0.5 | <-> | 2,226 | 2.3 | -73.7 | |||||||||||
Novoferm (Europe) | 487 | 2.8 | +41 | 814 | 1.5 | 1,302 | 3.6 | 4.3 | 3,574 | 4.8 | -2.7 | 94 | 0.5 | -392 | -48 | <-> | 46 | 0.2 | -96.5 | 1,552 | 2.4 | -56.6 | |||||||||||
ASIA | -83 | -7.4 | -57 | -140 | -5.4 | -398 | -6.2 | 35 | 2.7 | +118 | -42 | <+> | -6 | -0.2 | <+> | 22 | 0.3 | <+> | |||||||||||||||
Equity method Affiliates | -20 | +53 | -18 | <+> | -38 | <+> | -148 | <+> | -66 | -46 | -75 | <-> | -142 | <-> | -225 | <-> | |||||||||||||||||
Net Income attributable | 280 | 0.3 | +414 | 6,664 | 9.8 | 6,945 | 3.5 | 17.1 | 21,647 | 4.9 | 3.5 | -172 | -0.2 | -452 | 2,472 | -62.9 | 2,300 | 1.3 | -66.9 | 12,500 | 3.2 | -42.3 | |||||||||||
to owners of the parent | |||||||||||||||||||||||||||||||||
[assumed forex rate same as the previous year] | [-163] | [-443] | [2,284] | [-67.1] | [12,630] | [-41.7] | |||||||||||||||||||||||||||
Sanwa Shutter | -167 | -0.5 | +310 | 5,263 | 26.5 | 5,095 | 5.4 | 38.4 | 14,614 | 6.9 | 14.3 | -176 | -0.6 | -8 | 3,876 | -26.4 | 3,700 | 4.3 | -27.4 | 11,700 | 6.1 | -19.9 | |||||||||||
Japanese Subsidiaries | -84 | -1.1 | +175 | 210 | -16.3 | 125 | 0.7 | <+> | 1,469 | 2.9 | 80.7 | -385 | -4.2 | -300 | 646 | 207.5 | 261 | 1.1 | 108.0 | 1,562 | 3.0 | 6.3 | |||||||||||
ODC (U.S.A.) | 566 | 2.1 | -163 | 1,146 | -28.4 | 1,713 | 3.0 | -26.5 | 6,234 | 5.3 | 34.8 | 677 | 2.4 | +111 | -929 | <-> | -252 | -0.5 | <-> | 1,680 | 1.7 | -73.1 | |||||||||||
Novoferm (Europe) | 377 | 2.1 | +75 | 454 | -17.8 | 832 | 2.3 | -2.6 | 2,269 | 3.0 | -11.6 | 35 | 0.2 | -342 | -92 | <-> | -57 | -0.2 | <-> | 1,000 | 1.6 | -55.9 | |||||||||||
ASIA | -83 | -7.4 | -56 | -140 | -5.4 | -412 | -6.4 | 15 | 1.1 | +99 | -29 | <+> | -13 | -0.4 | <+> | -7 | -0.1 | <+> | |||||||||||||||
Equity method Affiliates | -20 | +53 | -18 | <+> | -38 | <+> | -148 | <+> | -66 | -46 | -75 | <-> | -142 | <-> | -225 | <-> | |||||||||||||||||
《Local currency》 | USDk・EURk・% | ||||||||||||||||||||||||||||||||
FY2019 | FY2020 | ||||||||||||||||||||||||||||||||
1Q | 2Q | 1H | Full Year | 1Q | 2Q(F) | 1H(F) | Full Year(F) | ||||||||||||||||||||||||||
profit | Y/Y | Y/Y | profit | Y/Y | profit | Y/Y | profit | Y/Y | Y/Y | profit | Y/Y | profit | Y/Y | ||||||||||||||||||||
ratio | ratio | ratio | ratio | ratio | ratio | ||||||||||||||||||||||||||||
Sales | ODC (U.S.A.) | $248,813 | 3.4 | $263,942 | -3.4 | $512,755 | -0.2 | $1,084,559 | 2.6 | $253,455 | 1.9 | $189,544 | -28.2 | $443,000 | -13.6 | $940,500 | -13.3 | ||||||||||||||||
Novoferm (Europe) | €140,573 | 4.5 | €153,759 | 8.5 | €294,332 | 6.5 | €613,370 | 8.5 | €143,856 | 2.3 | €114,143 | -25.8 | €258,000 | -12.3 | €553,000 | -9.8 | |||||||||||||||||
Operating | ODC (U.S.A.) | $8,886 | 3.6 | -1,339 | $15,667 | -28.5 | $24,553 | 4.8 | -23.6 | $82,693 | 7.6 | 3.9 | $10,066 | 4.0 | +1,179 | -$8,726 | < -> | $1,340 | 0.3 | -94.5 | $29,000 | 3.1 | -64.9 | ||||||||||
Income | Novoferm (Europe) | €3,880 | 2.8 | +292 | €6,997 | 6.9 | €10,878 | 3.7 | 7.3 | €30,228 | 4.9 | 2.5 | €2,796 | 1.9 | -1,084 | -€1,726 | < -> | €1,070 | 0.4 | -90.2 | €14,800 | 2.7 | -51.0 | ||||||||||
- Figures in[]are FY2020 figures calculated on the last year's FX rates (USD/EURO).
- Figures are round off. <+> is for increase,<-> is for decrease from the previous year.
Figures in 1Q"Y/Y" indicates increase rates for sales and increase/decrease amounts for incomes. - Figures in 2020 2Q (forecast) is calculated by subtracting the 2020 1Q results from the first half of 2020 (forecast).
- Forex rate is term average.
- Figures by entities are before consolidation adjustment and do not add up to total.
- From FY2020, Suzuki Shutter (Hong Kong) has been newly consolidated into "ASIA".
F2019 | FY2020 | |||||||
Forex Rate | 1Q | 1H | FY | 1Q | 1H | FY | ||
Actual | Actual | Actual | Actual | Forecast | Forecast | |||
USD | 110.27 | 109.97 | 109.24 | 109.11 | 105.00 | 105.00 | ||
EUR | 125.27 | 124.07 | 122.15 | 120.06 | 115.00 | 115.00 |
1
FY2020 First Quarter consolidated financial result highlights
2. Consolidated FY2020 1Q Results & first half and full year forecasts
July 31, 2020
〈Summary〉
Net sales
Operating income
Ordinary income
Net Income attributable to owners of the parent
〈Summary〉
FY2020 First Quarter Results
New consolidation contributed to the increase in sales, while profit decreased vs. 1Q FY2019
■ Consolidated net sales increased by 0.6% or 460 million yen vs. 1Q FY2019. Excluding currency impact, it would have increased by 1.8% or 1.5 billion yen.
JAPAN: Increased by 1.0% YoY (before consolidation adjustment). Sanwa Shutter decreased by 3.1%. By products, heavy-duty shutters and shutter-related products struggled, decreased by 11.2% and 15.7% respectively. On the other hand building & condominium doors increased by 17.8% and maintenance & repair business by 2.1%, both progressed steadily. Japanese subsidiaries increased by 18.2% or 1.4 billion yen, mainly contributed by the increase in sales of Sanwa Tajima and the consolidation of Suzuki Shutter since 2nd half of FY2019.
USA(ODC): Increased by 1.9% Y/Y on local currency basis. Door sales in total increased slightly by 0.6%. By products, garage doors increased by 4.5% and commercial doors decreased by 3.3%. Operators increased by 20.7%, with a steady growth of e-commerce. Automatic doors decreased by 7.4%.
Europe(NF): Increased by 2.3% Y/Y on local currency basis. The shutdown in Italy, France, and Spain since March due to COVID-19 affected negatively, but new consolidation contributed to the increase in sales. Hinged doors increased by 17.3% due to
the consolidation of Robust AB. Garage doors decreased by 8.0%, while industrial doors progressed steadily with an increase of 1.4%. ASIA: Increased by 16.3% or 180million yen Y/Y. The consolidation of Suzuki Shutter(Hong Kong) contributed to the growth.
■ Consolidated operating income decreased by 350 million yen vs. 1Q FY2019
JAPAN: Sanwa Shutter increased by 20 million yen. The drop in sales volume was covered by the raise of selling price and cost reduction. As for Japanese subsidiaries, Showa Front and Sanwa Tajima improved performance while Suzuki Shutter struggled with delay in maintenance & repair business due to COVID-19.
USA(ODC): Increased by $1.2 million Y/Y. Both door business and operator business increased in profit.
Europe(NF): Decreased by €1.1 million Y/Y. Affected by the decrease in sales volume due to COVID-19.
ASIA: Increased by 120million yen Y/Y. An-Ho Metal and Sanwa Shutter(H.K) improved performance, combined with the consolidation of Suzuki Shutter(H.K), contributed to turn to positive.
Consolidated ordinary income decreased by 620 million yen.
Non-operating income worsened by 200 million yen due to exchange loss.
Net income attributable to owners of the parent decrease by 450 million yen.
Extraordinary profit/loss worsened by 40 million yen.
FY2020 First Half and Full Year Forecasts
Maintain forecasts for first half and full year announced on May 14.
However, alteration may be made and announced if necessary depending on future situation.
2
FY2020 First Quarter consolidated financial result highlights
3. Order Intake and Net Sales by products / Sanwa Shutter
July 31, 2020
JPYm・% | ||||||||||||||||||||||||||||||
FY2019 | FY2020 | |||||||||||||||||||||||||||||
1Q | 1H | Full Year | 1Q | |||||||||||||||||||||||||||
Order | % to | Sales | % to | Order | % to | Sales | % to | Order | % to | Sales | % to | Order | % to | Sales | % to | |||||||||||||||
Intake | total | total | Intake | total | total | Intake | total | total | Intake | total | total | |||||||||||||||||||
Lightweight Shutters | <3.0> | <0.9> | <1.3> | <4.7> | <-1.9> | <-1.6> | <-1.2> | <-0.4> | ||||||||||||||||||||||
5,627 | 11.5 | 4,802 | 14.9 | 11,400 | 11.3 | 10,949 | 11.7 | 22,527 | 11.0 | 22,422 | 10.7 | 5,560 | 11.7 | 4,782 | 15.3 | |||||||||||||||
Heavy-duty Shutters | <2.0> | <5.9> | <8.5> | <15.8> | <9.6> | <4.0> | <2.1> | <-11.2> | ||||||||||||||||||||||
6,165 | 12.6 | 3,363 | 10.4 | 12,918 | 12.8 | 11,300 | 12.1 | 26,530 | 13.0 | 26,175 | 12.4 | 6,294 | 13.3 | 2,986 | 9.6 | |||||||||||||||
Overhead Doors | <21.4> | <-5.0> | <8.4> | <9.6> | <6.3> | <1.5> | <7.7> | <6.5> | ||||||||||||||||||||||
1,358 | 2.8 | 765 | 2.4 | 2,623 | 2.6 | 2,268 | 2.4 | 5,214 | 2.6 | 5,057 | 2.4 | 1,463 | 3.1 | 814 | 2.6 | |||||||||||||||
Shutter-related | <9.3> | <24.8> | <7.5> | <24.2> | <-2.7> | <13.0> | <-7.4> | <-15.7> | ||||||||||||||||||||||
Products | 3,481 | 7.1 | 2,236 | 6.9 | 7,044 | 7.0 | 6,721 | 7.2 | 13,735 | 6.7 | 14,402 | 6.8 | 3,223 | 6.8 | 1,884 | 6.0 | ||||||||||||||
Comm. Bldgs/ | <6.6> | <14.0> | <5.5> | <12.7> | <4.7> | <12.1> | <-0.5> | <17.8> | ||||||||||||||||||||||
Condominiums Doors | 12,684 | 25.9 | 5,922 | 18.4 | 26,551 | 26.3 | 23,507 | 25.1 | 53,816 | 26.4 | 60,963 | 29.0 | 12,626 | 26.7 | 6,976 | 22.4 | ||||||||||||||
Residential Doors | <-5.3> | <-5.2> | <-11.8> | <-7.9> | <-17.3> | <-15.7> | <-30.2> | <-30.9> | ||||||||||||||||||||||
959 | 2.0 | 961 | 3.0 | 1,974 | 2.0 | 2,009 | 2.1 | 3,741 | 1.8 | 3,759 | 1.8 | 670 | 1.4 | 663 | 2.1 | |||||||||||||||
Window-related | <9.9> | <8.7> | <5.6> | <9.0> | <0.0> | <1.7> | <-1.7> | <-3.7> | ||||||||||||||||||||||
Products | 2,130 | 4.4 | 2,069 | 6.4 | 4,488 | 4.4 | 4,467 | 4.8 | 8,830 | 4.3 | 8,829 | 4.2 | 2,095 | 4.4 | 1,993 | 6.4 | ||||||||||||||
Exterior Fittings | <-5.0> | <-16.9> | <-3.9> | <-7.8> | <-2.4> | <-8.2> | <-18.1> | <-14.7> | ||||||||||||||||||||||
995 | 2.0 | 822 | 2.6 | 1,973 | 2.0 | 1,968 | 2.1 | 3,888 | 1.9 | 3,898 | 1.9 | 814 | 1.7 | 701 | 2.2 | |||||||||||||||
Partitions | <16.6> | <23.9> | <6.1> | <21.7> | <11.8> | <14.8> | <-13.0> | <-4.5> | ||||||||||||||||||||||
3,430 | 7.0 | 1,695 | 5.3 | 7,044 | 7.0 | 5,619 | 6.0 | 14,656 | 7.2 | 13,923 | 6.6 | 2,983 | 6.3 | 1,618 | 5.2 | |||||||||||||||
Stainless-Steel | <-22.8> | <-10.3> | <-3.0> | <11.6> | <-0.8> | <22.6> | <-28.8> | <-11.2> | ||||||||||||||||||||||
Entrances | 2,326 | 4.8 | 1,063 | 3.3 | 4,842 | 4.8 | 4,359 | 4.7 | 9,381 | 4.6 | 10,777 | 5.1 | 1,655 | 3.5 | 944 | 3.0 | ||||||||||||||
Aluminum Fronts | <-22.5> | <-18.0> | <-8.9> | <-30.4> | <8.3> | <-16.5> | <29.2> | <22.0> | ||||||||||||||||||||||
491 | 1.0 | 319 | 1.0 | 1,121 | 1.1 | 887 | 0.9 | 2,677 | 1.3 | 2,367 | 1.1 | 635 | 1.3 | 390 | 1.3 | |||||||||||||||
Automatic door | <6.2> | <-0.8> | <-0.4> | <-8.2> | <0.6> | <-4.3> | <-12.3> | <-17.1> | ||||||||||||||||||||||
oprators | 640 | 1.3 | 481 | 1.5 | 1,292 | 1.3 | 1,141 | 1.2 | 2,597 | 1.3 | 2,496 | 1.2 | 561 | 1.2 | 399 | 1.3 | ||||||||||||||
Maintenance & Repair | <13.6> | <9.9> | <11.5> | <14.9> | <6.8> | <7.6> | <2.2> | <2.1> | ||||||||||||||||||||||
8,101 | 16.6 | 6,074 | 18.9 | 16,580 | 16.4 | 15,498 | 16.5 | 33,863 | 16.6 | 33,949 | 16.1 | 8,279 | 17.5 | 6,203 | 19.9 | |||||||||||||||
Others | <-20.1> | <57.0> | <-39.5> | <73.7> | <-16.3> | <-57.0> | <-6.0> | <-48.2> | ||||||||||||||||||||||
491 | 1.0 | 1,619 | 5.0 | 1,077 | 1.1 | 2,961 | 3.2 | 2,666 | 1.3 | 1,383 | 0.7 | 461 | 1.0 | 839 | 2.7 | |||||||||||||||
Total | <4.8> | <8.7> | <4.4> | <12.6> | <3.4> | <6.0> | <-3.2> | <-3.1> | ||||||||||||||||||||||
48,885 | 100.0 | 32,198 | 100.0 | 100,934 | 100.0 | 93,661 | 100.0 | 204,128 | 100.0 | 210,407 | 100.0 | 47,324 | 100.0 | 31,199 | 100.0 | |||||||||||||||
Amount | Amount | Amount | Amount | |||||||||||||||||||||||||||
Outstanding Order | ||||||||||||||||||||||||||||||
Backlog | 113,705 | 105,078 | 88,329 | 104,882 | ||||||||||||||||||||||||||
1) < >=⊿% year on year | 2) Outstanding Order Backlog = Backlog of orders including orders worked-in-process |
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Sanwa Holdings Corporation published this content on 31 July 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 31 July 2020 02:35:04 UTC