Corporate Information
Fiscal Year Ended March 31, 2024 Panasonic Automotive Systems Consolidated Financial Results
Overview
（in 100 millions of yen）
| Fiscal Year Ended March 31, 2024 | Year-on-Year Change | |
|---|---|---|
| Sales | 14,919 | 115% (110%) *1 |
| Adjusted Operating Profit (Rate) | 412 (2.8%) |
+270 |
| Other Income/Loss | 16 | ▲4 |
| Operating Profit (Rate) | 428 (2.9%) |
+266 |
- *1 Real Basis Excluding Effect of Exchange Rates
Main Factors for Increase/Decrease
| Adjusted Operating Profit | Automotive Cockpit Systems | ＋：Improved with increased sales, price revisions to counter price hikes in parts & materials, rationalization －：Persisting impact of increased fixed costs (increased personnel expenses) and price hikes in parts & materials |
|---|---|---|
| Automotive Electronics Systems | +：Improved with increased sales, price revisions to counter price hikes in parts & materials, rationalization －：Persisting impact of increased fixed costs (increased personnel expenses) and price hikes in parts & materials |
- Other Income/Loss
- Impact of insurance reimbursement in FY3/23
- Automotive Cockpit Systems：Infotainment Systems Business Division
- Automotive Electronics Systems：HMI Systems Business Division, Automotive Systems Business Division, Ficosa International, S.A., Charger Business Unit
Year-on-Year Analysis
Sales: Increased due to gradual recovery trend in automobile production as well as currency translation
OP: Increased due mainly to increased sales, price revisions to counter price hikes in parts & materials, and rationalization, despite persisting impact of increased fixed costs (increased personnel expenses) and price hikes in parts & materials
- *2 Sales of other segment products, etc.
Financial Figures（P/L・B/S・C/F）※End of each fiscal year ＜unaudited＞
P/L
| （in 100 millions of yen） | Fiscal Year Ended March 31, 2023 | FY3/24 Results | FY3/25 (E) |
|---|---|---|---|
| Sales | 12,975 | 14,919 | 14,600 |
| Adjusted Operating Profit | 142 | 412 | 430 |
| Other Income/Loss | 20 | 16 | 10 |
| Operating Profit | 162 | 428 | 440 |
| （OP % to sales） | 1.3% | 2.9% | 3.0% |
| Depreciation of PP&E | 273 | 259 | 300 |
| Total Amortization of Intangible Assets and Depreciation of Right-of-use Assets | 342 | 328 | 210 |
| EBITDA | 777 | 1,015 | 950 |
| （EBITDA % to sales） | 6.0% | 6.8% | 6.5% |
B/S
| （in 100 millions of yen） | Fiscal Year Ended March 31, 2023 | FY3/24 Results | FY3/25 (E) |
|---|---|---|---|
| Cash and cash equivalents | 1,002 | 1,333 | ― |
| Trade recievables | 1,427 | 1,444 | ― |
| Inventories | 1,854 | 1,784 | ― |
| Other current assets | 511 | 584 | ― |
| Current assets | 4,794 | 5,145 | ― |
| Property, plant and equipment | 865 | 999 | ― |
| Right-of-use assets | 162 | 177 | ― |
| Goodwill and intangible assets | 775 | 751 | ― |
| Other non-current assets | 306 | 352 | ― |
| Non-current assets | 2,108 | 2,279 | ― |
| Total assets | 6,902 | 7,424 | ― |
| Trade payables | 1,455 | 1,477 | ― |
| Debt (1) | 1,049 | 828 | ― |
| Lease liabilities (2) | 161 | 178 | ― |
| Other liabilities | 2,445 | 2,761 | ― |
| Liabilities | 5,110 | 5,244 | ― |
| Equity (3) | 1,792 | 2,180 | ― |
| Invested capital (1)+(2)+(3) | 3,002 | 3,186 | ― |
| ROIC | 5.2% | 10.1% | >10.0% |
C/F
| （in 100 millions of yen） | Fiscal Year Ended March 31, 2023 | FY3/24 Results | FY3/25 (E) |
|---|---|---|---|
| FCF | 29 | 650 | ― |
| Operating CF | 478 | 1,213 | 1,009 |
| Investing CF | ▲449 | ▲563 | ― |
| Capital Investment* | 249 | 299 | 300 |
| Investment in intangible assets | 193 | 266 | ― |
| R&D expenditures | 999 | 1,006 | ― |
- These figures are calculated on an accrual basis.