Lasertec : Presentation Material - First Quarter of Fiscal Year ending June 2024 Financial Results

First Quarter of Fiscal Year ending June 2024 Financial Results

October 31, 2023 Lasertec Corporation

Agenda

Results of the First Quarter of Fiscal Year Ending June 2024 (FY2024 Q1)

Yutaro Misawa

Director, Executive Officer & CFO

Business Environment and Forecast for Fiscal Year Ending June 2024 (FY2024)

Osamu Okabayashi

Representative Director, President & CEO

1

Agenda

Results of the First Quarter of Fiscal Year Ending June 2024 (FY2024 Q1)

Yutaro Misawa

Director, Executive Officer & CFO

Business Environment and Forecast of Fiscal Year Ending June 2024 (FY2024)

Osamu Okabayashi

Representative Director, President & CEO

2

Results in Perspective

Sales increased significantly YoY. Profit margins fell due to an unfavorable product mix in the short term.

In millions of yen

		FY2023			FY2024
	Q1	Q2		Q3	Q4	Q1
Net Sales	25,723	29,376		24,329	73,401	47,305
Gross profit	14,448	15,326		13,297	40,940	17,087
GP margin	56.2%	52.2%		54.7%	55.8%	36.1%
Operating income	8,508	9,616		9,348	34,815	10,279
OP margin	33.1%	32.7%		38.4%	47.4%	21.7%
	6,731	6,851		7,134	25,447	7,702
Net income
Orders	63,216	31,166		33,729	58,450	40,767
Backlog	406,696	408,485		417,885	402,933	396,395
R&D expenses	2,415	3,805		1,858	2,897	2,354
R&D margin	9.4%	13.0%		7.6%	3.9%	5.0%
	17,406	2,482		822	2,429	223
Capital expenditure
Depreciation and	698	922		907	957	1,078
amortization

YoY	QoQ
(vs Q1)	(vs Q4)
FY2023	FY2023
+83.9%	▲35.6%
+18.3%	▲58.3%
-	-
+20.8%	▲70.5%
-	-
+14.4%	▲69.7%
▲35.5%	▲30.3%
▲2.5%	▲1.6%
▲2.5%	▲18.8%
-	-
▲98.7%	▲90.8%
+54.3%	+12.6%

3

Sales by Product Category

Sales of semiconductor-related products increased by 94.8% (JPY 20.3 billion) YoY and those of services by 29.4% (JPY 1.2 billion) YoY.

In billions of yen	73.4

								47.3
			36.8				66.5
	27.8			25.7	29.3	24.3		41.7	Semiconductor-
		16.6	32.6					related products
	23.6	21.4	23.1	19.6
9.1
13.0
		1.1	1.3	0.1	Other products
6.6	1.1	0.3	0.1	0.6
0.1	0.3	5.1	5.5	5.3		Services
2.3	3.0	3.2	3.8	4.1	4.0
Q1	Q2	Q3	Q4	Q1	Q2	Q3	Q4	Q1
FY2022				FY2023				FY2024

4

Orders and Backlog

Customers remained cautious about making investments. Backlog continues to hover around
JPY 400 billion.			406.6	408.4	417.8	402.9	396.3
In billions of yen	340.6	369.2	Backlog
	277.7
235.0

108.3

	70.5	79.5	65.3	63.2
				58.4
						Orders
105.6
	74.7			31.1	33.7		40.7
	67.2	59.5	55.9
	50.6		Semiconductor-
0.2					23.0	27.4		35.8	related products
0.3	0.5	2.2	0.4	1.7	Other products
3.8	1.2	0.1
2.4	3.0	4.3	3.5	6.8	4.3	5.0	5.9	4.6	Services
Q1	Q2	Q3	Q4	Q1	Q2	Q3	Q4	Q1
FY2022				FY2023				FY2024

5

Liabilities and Net Assets

Balance Sheet

Inventories decreased by JPY 1.9 billion from the end of FY2023, and advances received increased by JPY 4.2 billion.

Assets

In billions of yen	263.2	271.5				In billions of yen	263.2	271.5
		255.2					255.2
	241.3	29.7				241.3
229.4	27.9	42.1	Cash and deposits	229.4
	21.6
35.1	29.2	14.2				95.1
12.1	Notes and accounts				99.4
17.9					122.4		Advances received
		Receivable-trade	88.6	97.2
15.4								17.0
		156.8	152.0							15.3	Accounts payable-
					11.1	14.3	17.3	49.2	trade
120.0	133.2			150.1	Work in process	34.0	Other current
		55.2	48.6	0.9	liabilities
							39.6	1.0	Non-current
							0.7	0.8	0.9			liabilities
	24.0	26.2	27.6						109.1	105.3	Net assets
24.0	12.2	Other current assets	73.6	80.3	82.9
26.0	26.4	28.4	Property, plant and
26.0	28.0	equipment
8.6	10.8	11.5	12.0	10.4		Other non-current
Q1	Q2	Q3	Q4	Q1	assets	Q1	Q2	Q3	Q4	Q1
FY2023				FY2024			FY2023				FY2024

6

Cash Flows

Cash inflow from operating activities amounted to JPY 14.5 billion with net profit and the decrease in notes and accounts receivable-trade surpassing the cash used for the payment of income tax.

In billions of yen
				FY2022									FY2023		FY2024
		Q1		Q2	Q3	Q4			Q1	Q2	Q3	Q4	Q1
Cash on hand	23.1		18.9		24.0	23.4				35.1	29.2	27.9	29.7	42.1
		Operating CF			Investing CF			Financing CF		FCF		14.7		14.5
													13.3	14.1
											9.9						12.9		13.2
							7.5										6.6
							7.3							5.7
															5.9
	2.7														5.0

0.0 0.10.0

▲2.6	▲4.5	▲0.2	▲2.5	▲4.0	▲0.6	▲1.7	▲0.6	▲1.2
▲2.8	▲1.5
▲4.9	▲4.6						▲5.0
		▲9.0	▲11.6		▲10.0
				▲17.4		▲14.6

7

R&D Expenses, Capital Expenditure, and Depreciation

These expenditures are being made as planned.

In billions of yen
		R&D expenses		Capital expenditure*1		Depreciation and amortization
20.0					CapEx for acquisition of
18.0	17.4			new R&D facility										【Reference】
																	FY2024 Forecast
16.0																(In billions of yen)
14.0																R&D	12.0
																	expenses
12.0																Capital	1.8
10.0																expenditure
8.0																Depreciation	4.5
																	and
6.0				3.8											amortization
		2.4				2.4			1.8			2.8	2.4
4.0				0.9	0.8	0.9	0.9	2.3	1.0
2.0	0.6					0.2
0.0
	Q1			Q2				Q3			Q4			Q1
			FY2023													FY2024

*1. Including intangible assets

8

Agenda

Results of the First Quarter of Fiscal Year Ending June 2024 (FY2024 Q1)

Yutaro Misawa

Director, Executive Officer & CFO

Business Environment and Forecast of Fiscal Year Ending June 2024 (FY2024)

Osamu Okabayashi

Representative Director, President & CEO

9