ULVAC : Script of Financial Results Presentation for FY2022 (Mid-term Management Plan)
August 10, 2023 at 01:46 pm IST
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For the fiscal year ended June 30, 2023, both orders and net sales decreased from the same period of the previous year, mainly due to a reactionary decline in investment in LCDs for IT panels, while orders for semiconductors, electronics, and components increased steadily.
Operating profit decreased from the same period of the previous year due to a decrease in sales and an increase in R&D expenses for semiconductor-related and other products, which were upfront investments, but both net sales and operating profit exceeded the revised forecast made in May.
The previous medium-term management plan exceeded the sales target of JPY210 billion set at the time the plan was formulated in August 2020, reaching JPY227.5 billion.
Driven by growth drivers such as logics for semiconductors, power devices, and various electronic devices, orders received grew 1.6 times that of the fiscal year ended June 30, 2020, to JPY247.2 billion, and we believe we were able to expand our business basis to a level approaching JPY250 billion in sales we revised upward in August 2022.
Profit margin improved steadily through strengthening manufacturing capabilities until H1 of the fiscal year ended June 30, 2022, but thereafter, the effect was reduced by the impact of longer delivery times for parts and materials, and the target for improvement in gross profit margin was not achieved.
The new medium-term management plan, which will be explained later, is expected to see a recovery in both sales and operating profit from H2 of this fiscal year as well.
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Now, for the fiscal year ended June 30, 2023, both orders and sales were lower than the same period last year due to declines in FPDs and materials, despite increases in semiconductors, electronics, and components.
The operating profit margin declined 3.7 percentage points from the same period of the previous year to 8.8%, due to lower sales and higher SG&A expenses, including R&D expenses for semiconductor-related and other products that represent upfront investments.
Compared to the previous revised forecast, net sales and operating profit exceeded the previous forecast by JPY12.5 billion and by JPY2.4 billion, respectively.
Ulvac Inc. published this content on 10 August 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 10 August 2023 08:15:04 UTC.
Ulvac Inc is mainly engaged in vacuum equipment business. The Company operates through two business segments. The Vacuum Equipment segment is engaged in development, manufacture, sale and maintenance of sputtering equipment, organic electro luminescence (EL) manufacturing equipment, solar cell manufacturing equipment, winding type vacuum vapor deposition equipment, vacuum pump and measuring instrument. The Vacuum Application segment is engaged in development, manufacture, sale and maintenance of sputtering target materials, control system related equipment and analytical equipment.
ULVAC, INC. 
