Panasonic (6752) investor relations material

Executive summary

• Achieved record-high first quarter profit, driven by robust AI infrastructure and data center demand, with all major segments posting year-over-year sales and profit growth.

• Upward revision of full-year sales and profit forecasts, reflecting strong Q1 results, sustained AI-related demand, and improved business performance.

• Notable outperformance in Connect, Electric Works, HVAC & CC, Energy, and Industry segments.

Financial highlights

• Consolidated sales reached ¥2,018.9 billion, up 6% year-on-year, with operating profit more than doubling to ¥182.5 billion.

• Adjusted operating profit was ¥186.4 billion, up 104.1% year-on-year, with margin improving to 9.2%.

• Net profit attributable to shareholders surged 89% to ¥135.2 billion.

• Operating cash flow for Q1 surged to ¥372.0 billion, mainly due to US IRA tax credit monetization.

• EBITDA increased 51% to ¥285.9 billion.

Outlook and guidance

• Full-year sales forecast revised up to ¥7,800 billion (+¥200 billion), with adjusted operating profit forecast at ¥650 billion (+¥50 billion), and net profit guidance raised to ¥450 billion (+¥30 billion).

• Basic EPS for the year projected at ¥192.73; annual dividend forecast increased to ¥54.00 per share.

• Upward revisions for Connect, Electric Works, and Industry segments based on strong 1Q performance.

• AI/data center infrastructure, semiconductor equipment, and energy storage demand expected to remain robust.