DAIHATSU DIESEL MFG.CO.,LTD., First Half Ordinary Profit Increases by 2.6 times, July-September Ordinary Profit Increases by 2.5 times

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Tue Oct 29, 2024 1:00 pm JST Earnings

6023 DAIHATSU DIESEL MFG.CO.,LTD. 【J-GAAP】

Earnings Report

DAIHATSU DIESEL MFG.CO.,LTD. <6023> [TSE-S] announced its financial results in the afternoon session on October 29th (13:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) surged by 2.6 times that of the same period last year, reaching 3.08 billion yen. The progress rate against the 6.2 billion yen full-year plan was 49.8%, exceeding the five-year average of 24.4%.

Based on the first-half performance announced by the company and the unchanged full-year plan, our calculation indicates that the consolidated ordinary profit for the October to March period (second half) is expected to decrease by 28.9% from the same period last year to 3.11 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit surged to 2.5 times that of the same period last year, reaching 1.28 billion yen. The operating profit margin significantly improved from 2.5% in the same period last year to 7.2%.

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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
Apr - Sep, 2022	31,584	667	832	756	23.9	22.7	Oct 27, 2022	J-GAAP
Apr - Sep, 2023	37,220	938	1,171	1,888	59.8	21.1	Oct 26, 2023	J-GAAP
Apr - Sep, 2024	42,896	3,183	3,089	2,127	67.2	49.8	Oct 29, 2024	J-GAAP
YoY	+15.2%	+239.3%	+163.8%	+12.7%	+12.4%

First Half Results vs. Previous Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Apr - Sep, 2024 Guidance	42,000	2,900	3,100	2,200	69.4	0	Jul 29, 2024	J-GAAP
Apr - Sep, 2024 Results	42,896	3,183	3,089	2,127	67.2	0	Oct 29, 2024	J-GAAP
Revision Rate	+2.1%	+9.8%	-0.4%	-3.3%	-3.3%

Current Period Guidance

Second Half Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Oct - Mar, 2023	44,555	4,256	4,375	3,261	103.2	49	Apr 25, 2024	J-GAAP
Oct - Mar, 2024 Guidance	39,104	2,817	3,111	2,073	65.4	39	Oct 29, 2024	J-GAAP
YoY	-12.2%	-33.8%	-28.9%	-36.4%	-36.6%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	72,113	3,601	3,660	2,948	93.4	28	Apr 28, 2023	J-GAAP
Mar, 2024	81,775	5,194	5,546	5,149	162.9	49	Apr 25, 2024	J-GAAP
Mar, 2025 Guidance	82,000	6,000	6,200	4,200	132.6	39	Jul 29, 2024	J-GAAP
YoY	+0.3%	+15.5%	+11.8%	-18.4%	-18.6%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	19,594	488	512	1,421	45.0	2.5	Oct 26, 2023	J-GAAP
Oct - Dec, 2023	20,566	1,190	1,093	757	24.0	5.8	Jan 30, 2024	J-GAAP
Jan - Mar, 2024	23,989	3,066	3,282	2,504	79.2	12.8	Apr 25, 2024	J-GAAP
Apr - Jun, 2024	20,369	1,555	1,809	1,321	41.8	7.6	Jul 29, 2024	J-GAAP
Jul - Sep, 2024	22,527	1,628	1,280	806	25.5	7.2	Oct 29, 2024	J-GAAP
YoY	+15.0%	+233.6%	+150.0%	-43.3%	-43.4%