TOKYO, Aug 8, 2018 - (JCN Newswire) - Showa Denko (SDK ; TSE:4004) hereby announces that there is a difference between the forecast of consolidated financial results for the first half (January 1 - June 30) of 2018 announced on May 9, 2018 and actual financial results for the same period announced today. In addition, SDK revises forecast of consolidated financial results for FY2018, taking the latest business trends into consideration.
1. Difference between the forecast of consolidated financial results for the first half (January 1 - June 30) of 2018 and actual financial results for the same period
[Difference between the forecast and actual results]
(Millions of yen, excepting net income attributable to owners of the parent per share)
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Net sales Operating Ordinary Net income
Net income attributable the parent per share (y)
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Prev forecast (A) (May 9, 2018)
452,000 68,000 64,500 43,000 294.81
Actual results (B) (Aug 8, 2018)
455,845 78,084 77,791 58,132 398.56
(B) - (A)
3,845 10,084 13,291 15,132
Percentage of change
0.9% 14.8% 20.6% 35.2%
Ref: Results for H1 2017
372,193 35,027 22,238 7,837 54.98
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Reasons for the difference between the forecast and actual results
Net sales exceeded the previous forecast. In the Petrochemicals segment, prices of products including ethylene were higher than expected because of a rise in the price of raw naphtha. In the Inorganics segment, the condition of global graphite electrode market was stronger than expected.
Operating income in the Inorganics segment was higher than the previous forecast because market prices of graphite electrodes were higher than expected. Operating incomes in the Petrochemicals, Aluminum, and Others segments were also higher than those in the previous forecast due mainly to strong demand for products.
As a result, actual 1H 2018 ordinary income and net income attributable to owners of the parent also exceeded the previous forecast.
2. Revised forecast of consolidated financial results for FY2018 (January - December)
(Millions of yen, excepting net income attributable to owners of the parent per share)
-----------------------------------------------------------
Net sales Operating Ordinary Net income
Net income attributable the parent per share (y)
-----------------------------------------------------------
Previous forecast (A) (May 9, 2018)
935,000 137,000 131,500 85,000 577.45
Revised forecast (B) (Aug 8, 2018)
985,000 170,000 167,000 115,000 781.27
(B) - (A)
50,000 33,000 35,500 30,000
Percentage of change
5.3% 24.1% 27.0% 35.3%
Ref: Results for FY 2017
780,387 77,818 63,962 33,470 234.84
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Reasons for the revision of consolidated performance forecast
Net sales in the Inorganics segment will exceed those in the previous forecast because the global market prices of graphite electrodes are expected to be higher than those in the previous forecast. Net sales in the Petrochemicals segment will exceed those in the previous forecast due mainly to the rise in prices of major products including ethylene.
Overall operating income will exceed the previous forecast. Though operating income in the Electronics segment will be lower than the previous forecast, operating income in the Inorganics segment will be much higher than the previous forecast due to the rises in prices of graphite electrodes in the global market. Operating income in the Others segment will also be higher than the previous forecast.
As a result, ordinary income and net income attributable to owners of the parent for full-year 2018 will also be higher than the previous forecast.
Contact:
Contact:
Public Relations Office
Phone: 81-3-5470-3235
Topic: Press release summary
Source: Showa Denko K.K.
Sectors: Chemicals, Spec.Chem
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