Sanix Incorporated : Medium-term Financial Forecasts (851KB)

Medium-term Financial Forecasts

(FY ending March 2024-FY ending March 2026)

February 15,2023

SANIX INCORPORATED

Copyright© SANIX INCORPORATED

1 Company-wide Strategy

Projections

				(Billions of Yen)
(Consolidated)	FY2022 Forecast	FY2023 Plan	FY2024 Plan	FY2025 Plan

Net Sales	46.5	48.0	50.0	53.0
Operating Income	1.5	3.2	3.2	3.0
EBITDA※	3.3	4.8	4.9	5.0
ROE	17.9%	35.0%	24.0%	16.0%
ROIC	6.9%	14.0%	12.0%	10.0%
Equity ratio	17.2%	22.0%	27.0%	30.0%

※ EBITDA is operating Income + depreciation.

Consolidated Net Sales and Operating Income

（Billions of Yen)
65.0	5.3%	4.7%					6.7%	6.4%	5.8%		8%
60.0			3.3%				53.0		6%
55.0	52.5								4%
49.4	50.9					50.0
50.0							.0			2%
					46
45.0													0%
40.0													-2%
			-5.1%
35.0											-4%
30.0													-6%
FY2019	FY2020	FY2021		FY2022	FY2023	FY2024	FY2025
							Forecast			Plan
		Net Sales(Excluding PPS)			Net Sales(PPS)		Operating Income Margin

The net sales target excluding the Power Producer and

Supplier(PPS) business is an average annual growth of 7.4%.

35%

30%

25%

20%

15%

10%

5%

0% -5%-10%-15%-20%

ROIC and Equity ratio

FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
			Forecast		Plan

Equity ratio		ROIC

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1 Company-wide Strategy

Resource Allocation

Resource Allocation

• The earning power of the entire business will increase during the plan period and total EBITDA is expected to be 14.7 billion yen.
• The portion excluding debt repayment and facility renewal is the allowance for strategic investment and funds allocated for growth.

Total EBITDA for

FY2023-FY2025

¥14.7 billion

Total EBITDA for

FY2020-FY2022

¥5.5 billion

Allowance for

strategic investment

¥4.8 billion

Investment in facility renewal ¥4.7 billion

Debt repayment

¥5.2 billion

Funds allocated to promote and accelerate growth

• Human resource investment
• R&D
• Facility installation (expansion and new)
• M&A,etc.

Copyright© SANIX INCORPORATED

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2 Division Strategy

Growth strategy for Residential Environment Area

				(Billions of Yen)
(Consolidated)	FY2022 Forecast	FY2023 Plan	FY2024 Plan	FY2025 Plan

Net Sales	16.3	17.3	18.3	19.3
HS Division	12.0	12.8	13.4	14.0
ES Division	2.4	2.6	2.8	3.0
SE Division	1.8	1.9	2.1	2.3
Operating Income	1.6	2.2	2.3	2.5

Our strengths

• Stable revenue base based on ongoing business relationships with customers.
• Human resources with both high sales capabilities and construction skills
• Sales network rooted in local communities.

External environment

• Government policy for building high-quality housing stock.
• Growth in demand for housing maintenance and hygienic environments generated by the COVID-19 pandemic.
• Growing need for residential solar power generation facilities as a result of the steep rise in electricity fees and growing environmental awareness.

Growth strategy

• Increase of sales capabilities and service quality through enhanced retention and development of human resources.
• Focus on developing new customers from a medium- to long-term perspective.(increase new customer channels through the expansion of affiliates and development of sales organizations)

Affiliated JA

Affiliated JA※

Changes in the Average Number of Workers

Number of Affiliates

Alliance for collective housing

50 JA

1,200

600

Alliance for individual customers

50

900

500

Alliance for

400

106

SE

collective housing

600

300

106 Corporation

ES

300

200

368

HS

0

100

Alliance for

0

individual customers

FY2021

FY2022

FY2023

FY2024

FY2025

FY2017

FY2018

FY2019

FY2020

FY2021

FY2022.3Q

368 Corporation

Results

Forecast

Plan

Results

※Japan Agricultural Cooperatives

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Population trends and trend in the number of municipalities targeting net-zeroCO2 emissions

2 Division Strategy

Growth strategy for Energy Area

				(Billions of Yen)
(Consolidated)	FY2022 Forecast	FY2023 Plan	FY2024 Plan	FY2025 Plan

Net Sales	13.8	12.4	14.6	16.5
PV Division	8.0	10.1	12.2	14.0
PPS Division	5.8	2.3	2.4	2.5
Operating Income	0	0.1	0.4	0.9
Our strengths
	External environment

• Ability to provide seamless services from the development, manufacturing, sale, and construction of photovoltaic power generation systems to their maintenance.
• Ability to propose optimal self-consumption plans leveraging our knowledge of electricity.
• High-qualityconstruction performed by many qualified engineers.
• Track record of approx. 29,000 solar power plant for business use construction projects.

• Power companies have a growing need for renewable energy sources due to the growing demand for renewable energy.
• Corporate efforts to reduce GHG emissions and local activities to achieve zero-carbon cities are in full swing.
• An increase in the impact of installing photovoltaic power generation equipment due to a steep rise in electricity expenses and a decrease in the cost of this equipment.

Growth strategy

• Improving the development of power sources (photovoltaic power plants) for power companies that require renewable energy sources.
• Improving proposals for the installation of photovoltaic power generation equipment for companies and local governments that are accelerating their zero-carbon activities.

Solar Power Generation System

in Mitsui Shopping Park LaLaport Fukuoka (part of the system)

System total capacity: 148.00 kW

Population trends and trend in the number of municipalities

1,000				124.52 million		14,000
			831 municipality
800						12,000
			78.83 million			10,000
600			166 municipality			8,000
400						6,000
						4,000
200		19.56 million
	4 municipality				2,000
0						0
number of	Sep.2019	Oct.26,2020	Jan.31,2023 Ten thousand
municipalities
		(Present)	of people

Source: Website of the Ministry of the Environment

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