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FUJI FURUKAWA ENGINEERING & CONSTRUCTION CO.LTD., First Half Ordinary Profit Increases by 52%

Tue Oct 29, 2024 3:30 pm JST Earnings

1775 FUJI FURUKAWA ENGINEERING & CONSTRUCTION CO.LTD. 【J-GAAP】

Earnings Report

FUJI FURUKAWA ENGINEERING & CONSTRUCTION CO.LTD. <1775> [TSE-S] announced its financial results after the market closed on October 29th (15:30). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) expanded to 2.92 billion yen, an increase of 52.0% compared to the same period last year, exceeded the previous forecast of 2 billion yen.

The progress rate against the 8 billion yen full-year plan was 36.6%, exceeding the five-year average of 24.9%.

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 18.2% from the same period last year to 5.07 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit decreased to 1.27 billion yen, a 8.1% decrease compared to the same period last year. However, the operating profit margin improved from 5.3% in the same period last year to 6.6%.

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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 36,868 1,542 1,562 961 107.0 22.3 Oct 26, 2022 J-GAAP
Apr - Sep, 2023 44,491 1,763 1,926 1,152 128.2 23.7 Oct 26, 2023 J-GAAP
Apr - Sep, 2024 39,490 2,772 2,928 1,908 212.2 36.6 Oct 29, 2024 J-GAAP
YoY -11.2% +57.2% +52.0% +65.6% +65.5%

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 40,000 2,000 2,000 1,200 133.4 0 Apr 24, 2024 J-GAAP
Apr - Sep, 2024 Results 39,490 2,772 2,928 1,908 212.2 0 Oct 29, 2024 J-GAAP
Revision Rate -1.3% +38.6% +46.4% +59.0% +59.0%

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 59,158 6,116 6,203 4,261 473.9 190 Apr 24, 2024 J-GAAP
Oct - Mar, 2024 Guidance 54,510 5,228 5,072 3,292 366.1 190 Oct 29, 2024 J-GAAP
YoY -7.9% -14.5% -18.2% -22.7% -22.8%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 88,109 6,926 7,014 4,536 504.4 150 Apr 25, 2023 J-GAAP
Mar, 2024 103,649 7,879 8,129 5,413 602.0 190 Apr 24, 2024 J-GAAP
Mar, 2025 Guidance 94,000 8,000 8,000 5,200 578.3 190 Apr 24, 2024 J-GAAP
YoY -9.3% +1.5% -1.6% -3.9% -3.9%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 24,937 1,319 1,389 801 89.2 5.3 Oct 26, 2023 J-GAAP
Oct - Dec, 2023 25,776 1,654 1,604 1,140 126.8 6.4 Jan 30, 2024 J-GAAP
Jan - Mar, 2024 33,382 4,462 4,599 3,121 347.1 13.4 Apr 24, 2024 J-GAAP
Apr - Jun, 2024 20,109 1,489 1,652 1,062 118.2 7.4 Jul 24, 2024 J-GAAP
Jul - Sep, 2024 19,381 1,283 1,276 846 94.1 6.6 Oct 29, 2024 J-GAAP
YoY -22.3% -2.7% -8.1% +5.6% +5.5%

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