TOKYO, May 9, 2018 - (JCN Newswire) - Showa Denko ("SDK"; TSE:4004) hereby announces revised forecast of consolidated financial results for the first half (January 1 - June 30) of 2018. SDK announced the earlier forecast on February 14, 2018. Accordingly, SDK revises forecast of consolidated financial results for full-year 2018. Regarding the revised forecast of consolidated financial results for full-year 2018, SDK reflected the difference between the earlier forecast and the revised forecast for the first half of the year, but did not revise the forecast of consolidated financial results for the second half (July 1 - December 31) of 2018.
1. Revised forecast of consolidated financial results for the first half of 2018
(Millions of yen, excepting net income attributable
to owners of the parent per share)
---------------------------------------------------------------------------
Net sales Operating Ordinary Net income Net income
income income attributable attributable
to owners of to owners of
the parent the parent
per share (y)
---------------------------------------------------------------------------
Earlier forecast (A) (Announced on Feb. 14, 2018)
417,000 41,000 39,000 23,000 157.69
---------------------------------------------------------------------------
Revised forecast (B) (Announced on May 9, 2018)
452,000 68,000 64,500 43,000 294.81
---------------------------------------------------------------------------
(B) - (A) 35,000 27,000 25,500 20,000
---------------------------------------------------------------------------
Percentage of changes
8.4% 65.9% 65.4% 87.0%
---------------------------------------------------------------------------
Reference: Results for the first half of 2017
372,193 35,027 22,238 7,837 54.98
---------------------------------------------------------------------------
Reasons for the revision of consolidated performance forecast
Net sales are expected to exceed the earlier forecast in all segments. Especially in the Inorganics segment, market prices of graphite electrodes are higher than expected because of tighter supply-demand situation. Also in the Petrochemicals segment, market prices of products are higher than earlier forecast on the background of strong demand in Asia.
Operating incomes in five segments other than the Aluminum segment are expected to be higher than those in the earlier forecast, though that in the Aluminum segment is expected to be at the same level of the earlier forecast. Operating income in the Inorganics segment is expected to be considerably higher than the earlier forecast due to a rise in prices of graphite electrodes. Operating income in the Petrochemicals segment is also expected to be higher than the earlier forecast due to the use of raw material naphtha in the first quarter of 2018 purchased before the increase in naphtha prices, in addition to the continuously strong market for petrochemical products. Operating incomes in the Chemicals, Electronics, and Others segments are also expected to increase on the background of strong demand for products.
As a result, we expect ordinary income and net income attributable to owners of the parent for the first half of 2018 will also significantly exceed the earlier forecast.
2. Revised forecast of consolidated financial results for full-year 2018 (January - December)
(Millions of yen, excepting net income attributable
to owners of the parent per share)
---------------------------------------------------------------------------
Net sales Operating Ordinary Net income Net income
income income attributable attributable
to owners of to owners of
the parent the parent
per share (y)
---------------------------------------------------------------------------
Earlier forecast (A) (Announced on Feb. 14, 2018)
900,000 110,000 106,000 65,000 441.58
---------------------------------------------------------------------------
Revised forecast (B) (Announced on May 9, 2018)
935,000 137,000 131,500 85,000 577.45
---------------------------------------------------------------------------
(B) - (A) 35,000 27,000 25,500 20,000
---------------------------------------------------------------------------
Percentage of changes
3.9% 24.5% 24.1% 30.8%
---------------------------------------------------------------------------
Reference: Results for fill-year 2017
780,387 77,818 63,962 33,470 234.84
---------------------------------------------------------------------------
Reasons for the revision of consolidated performance forecast
With regard to the forecast of consolidated financial results for full-year 2018, we reflected only the increases in the forecast for the first half of 2018, but did not revise the forecast of consolidated financial results for the second half of 2018.
The amount of prospective term-end dividend is not changed from the earlier forecast, which is 70 yen per share.
Contact:
IR Office, Finance & Accounting Department
Phone: 81-3-5470-3323
Topic: Earnings
Source: Showa Denko K.K.
Sectors: Chemicals, Spec.Chem
http://www.acnnewswire.com
From the Asia Corporate News Network
Copyright © 2024 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.
|
