HOKURIKU ELECTRICAL CONSTRUCTION CO.,LTD., First Half Ordinary Profit Increases by 3.0 times

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Tue Oct 29, 2024 3:00 pm JST Earnings

1930 HOKURIKU ELECTRICAL CONSTRUCTION CO.,LTD. 【J-GAAP】

Earnings Report

HOKURIKU ELECTRICAL CONSTRUCTION CO.,LTD. <1930> [TSE-P] announced its financial results after the market closed on October 29th (15:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) surged by 3.0 times that of the same period last year, reaching 1.41 billion yen, exceeded the previous forecast of 650 million yen.

The progress rate against the 3.5 billion yen full-year plan was 40.4%, exceeding the five-year average of 26.2%.

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 drop by 34.4% from the same period last year to 2.08 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit increased by 54.8% from the same period last year, reaching 862 million yen. The operating profit margin improved from 4.5% in the same period last year to 5.8%.

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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	20,588	308	395	240	8.6	15.6	Oct 26, 2022	J-GAAP
Apr - Sep, 2023	20,628	361	468	202	7.3	12.8	Oct 27, 2023	J-GAAP
Apr - Sep, 2024	26,371	1,256	1,415	977	34.9	40.4	Oct 29, 2024	J-GAAP
YoY	+27.8%	+247.9%	+202.4%	+383.7%	+381.9%

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	25,000	550	650	400	14.3	20	Apr 30, 2024	J-GAAP
Apr - Sep, 2024 Results	26,371	1,256	1,415	977	34.9	20	Oct 29, 2024	J-GAAP
Revision Rate	+5.5%	+128.4%	+117.7%	+144.3%	+144.5%

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	32,770	3,064	3,177	2,007	71.7	22	Apr 30, 2024	J-GAAP
Oct - Mar, 2024 Guidance	33,629	1,994	2,085	1,323	47.3	20	Oct 29, 2024	J-GAAP
YoY	+2.6%	-34.9%	-34.4%	-34.1%	-34.1%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	44,846	2,356	2,531	1,628	58.2	36	Apr 27, 2023	J-GAAP
Mar, 2024	53,398	3,425	3,645	2,209	78.9	40	Apr 30, 2024	J-GAAP
Mar, 2025 Guidance	60,000	3,250	3,500	2,300	82.2	40	Apr 30, 2024	J-GAAP
YoY	+12.4%	-5.1%	-4.0%	+4.1%	+4.1%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	11,465	514	557	339	12.2	4.5	Oct 27, 2023	J-GAAP
Oct - Dec, 2023	12,676	612	667	377	13.5	4.8	Jan 30, 2024	J-GAAP
Jan - Mar, 2024	20,094	2,452	2,510	1,630	58.2	12.2	Apr 30, 2024	J-GAAP
Apr - Jun, 2024	13,079	481	553	390	13.9	3.7	Jul 29, 2024	J-GAAP
Jul - Sep, 2024	13,292	775	862	587	21.0	5.8	Oct 29, 2024	J-GAAP
YoY	+15.9%	+50.8%	+54.8%	+73.2%	+72.5%