gasworld’s Business Intelligence provides you with the latest analysis of Taiyo Nippon Sanso’s Q4 2014 earnings report.
Headlines
- Total reported sales in Q4 were up +5% at ¥138bn ($1.2bn).
- This was the slowest YoY growth since early 2013.
- Total Operating Income was again up strongly by +22% YoY at nearly ¥10bn ($84m), continuing the profit recovery of the last two years.
- However Operating Margin remains below 8% which is significantly below the average of other major gas companies.
- Gases sales were up +6.5% YoY in reported terms.
- Key drivers were boosts from currency changes with benefits from both the US$ and most Other Asian currencies, and also the impact of the earlier acquisition in N. America.
- Underlying gases growth appeared to be at its lowest rate for several quarters with price impact appearing negative, while volume contribution remained only modestly positive, although up on the last two quarters.
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