Yokogawa Bridge Holdings Corp., The Current Fiscal Year Ordinary Profit Revised Downward by 12%

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Tue Oct 29, 2024 3:00 pm JST Earnings

5911 Yokogawa Bridge Holdings Corp. 【J-GAAP】

Earnings Report

Yokogawa Bridge Holdings Corp. <5911> [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) significantly dropped by 52.0% from the same period last year to 3.59 billion yen.

In addition, the full-year consolidated ordinary profit has downwardly by 11.7%, from the previous forecast of 15.4 billion yen to 13.6 billion yen (compared to 15.8 billion yen in the previous period), leading to an increase in the profit decline rate from 2.9% to 14.2%.

Based on the first-half performance announced by the company and the full-year plan, our calculation indicates that the consolidated ordinary profit for the October to March period (second half) is expected to grow by 19.4% from the same period last year, reaching 10 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit dropped to 2.21 billion yen, a 40.6% decrease compared to the same period last year. The operating profit margin worsened from 8.9% in the same period last year to 7.1%.

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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	75,984	3,918	4,207	3,426	83.0	27.2	Oct 31, 2022	J-GAAP
Apr - Sep, 2023	82,306	7,316	7,477	5,855	143.3	47.2	Oct 30, 2023	J-GAAP
Apr - Sep, 2024	72,932	3,995	3,592	3,532	86.8	26.4	Oct 29, 2024	J-GAAP
YoY	-11.4%	-45.4%	-52.0%	-39.7%	-39.4%

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	72,900	3,900	3,500	3,500	86.0	55	Oct 23, 2024	J-GAAP
Apr - Sep, 2024 Results	72,932	3,995	3,592	3,532	86.8	55	Oct 29, 2024	J-GAAP
Revision Rate	+0.0%	+2.4%	+2.6%	+0.9%	+1.0%

Guidance Update

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	170,000	15,500	15,400	11,700	289.1	110	May 13, 2024	J-GAAP
Mar, 2025 New	165,000	14,000	13,600	10,500	259.4	110	Oct 29, 2024	J-GAAP
Revision Rate	-2.9%	-9.7%	-11.7%	-10.3%	-10.3%

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	81,770	8,630	8,380	5,999	147.4	50	May 13, 2024	J-GAAP
Oct - Mar, 2024 Guidance	92,068	10,005	10,008	6,968	172.2	55	Oct 29, 2024	J-GAAP
YoY	+12.6%	+15.9%	+19.4%	+16.2%	+16.8%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	164,968	15,218	15,452	11,243	273.4	85	May 15, 2023	J-GAAP
Mar, 2024	164,076	15,946	15,857	11,854	291.2	95	May 13, 2024	J-GAAP
Mar, 2025 Guidance	165,000	14,000	13,600	10,500	259.4	110	Oct 29, 2024	J-GAAP
YoY	+0.6%	-12.2%	-14.2%	-11.4%	-10.9%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	42,279	3,751	3,729	3,009	73.6	8.9	Oct 30, 2023	J-GAAP
Oct - Dec, 2023	42,886	5,396	5,268	3,939	96.6	12.6	Jan 29, 2024	J-GAAP
Jan - Mar, 2024	38,884	3,234	3,112	2,060	50.6	8.3	May 13, 2024	J-GAAP
Apr - Jun, 2024	35,948	1,386	1,376	1,282	31.5	3.9	Jul 29, 2024	J-GAAP
Jul - Sep, 2024	36,984	2,609	2,216	2,250	55.3	7.1	Oct 29, 2024	J-GAAP
YoY	-12.5%	-30.4%	-40.6%	-25.2%	-24.9%