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SUBARU CO., LTD., First Half Ordinary Profit Loss Widens, June-Augus Ordinary Profit Decreases by 16%

Fri Oct 11, 2024 2:30 pm JST Earnings

9778 SUBARU CO., LTD. 【J-GAAP】

Earnings Report

SUBARU CO., LTD. <9778> [TSE-S] announced its financial results in the afternoon session on October 11th (14:30). The ordinary loss (non-consolidated) for the cumulative second quarter of the fiscal year ending February 2025 (March to August) expanded to a loss of 38 million yen (compared to a loss of 29 million yen in the same period last year).

Based on the first-half performance announced by the company and the unchanged full-year plan, our calculation indicates that the ordinary profit for the September to February period (second half) is expected to expand by 63.0% from the same period last year, reaching 308 million yen.

In the most recent three-month period, from June to August (2Q), the ordinary profit decreased to 52 million yen, a 16.1% decrease compared to the same period last year. The operating profit margin worsened from 6.2% in the same period last year to 5.3%.

Kabutan News

Actual Results

Accumulated Results 2nd Quarter
Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Progress Rate vs. First Half Announce Accounting Standards
Mar - Aug, 2022 1,724 77 89 47 80.0 29.7 Oct 13, 2022 J-GAAP
Mar - Aug, 2023 1,654 -39 -29 -36 -62.1 ー Oct 13, 2023 J-GAAP
Mar - Aug, 2024 1,637 -45 -38 -33 -56.1 ー Oct 11, 2024 J-GAAP
YoY -1.0% -15.4% -31.0% +8.3% +9.7%

First Half Results vs. Previous Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar - Aug, 2024 Guidance ー ー ー ー － 0 Apr 12, 2024 J-GAAP
Mar - Aug, 2024 Results 1,637 -45 -38 -33 -56.1 0 Oct 11, 2024 J-GAAP
Revision Rate － － － － －

Current Period Guidance

Second Half Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Sep - Feb, 2023 1,876 183 189 72 122.0 120 Apr 12, 2024 J-GAAP
Sep - Feb, 2024 Guidance 2,092 303 308 200 338.7 120 Oct 11, 2024 J-GAAP
YoY +11.5% +65.6% +63.0% +177.8% +177.7%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Feb, 2023 3,511 281 300 217 368.9 120 Apr 14, 2023 J-GAAP
Feb, 2024 3,530 144 160 36 61.0 120 Apr 12, 2024 J-GAAP
Feb, 2025 Guidance 3,729 258 270 167 282.8 120 Apr 12, 2024 J-GAAP
YoY +5.6% +79.2% +68.8% +363.9% +363.7%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jun - Aug, 2023 931 58 62 40 69.0 6.2 Oct 13, 2023 J-GAAP
Sep - Nov, 2023 796 -34 -31 -28 -48.1 -4.3 Jan 12, 2024 J-GAAP
Dec - Feb, 2023 1,080 217 220 100 169.4 20.1 Apr 12, 2024 J-GAAP
Mar - May, 2024 713 -94 -90 -65 -110.3 -13.2 Jul 12, 2024 J-GAAP
Jun - Aug, 2024 924 49 52 32 54.4 5.3 Oct 11, 2024 J-GAAP
YoY -0.8% -15.5% -16.1% -20.0% -21.1%

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