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NIPPON GAS CO.,LTD., First Half Ordinary Profit Decreases by 49%

Tue Oct 29, 2024 3:30 pm JST Earnings

8174 NIPPON GAS CO.,LTD. 【J-GAAP】

Earnings Report

NIPPON GAS CO.,LTD. <8174> [TSE-P] 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) dropped by 48.8% from the same period last year to 2.41 billion yen, fell short of the previous forecast of 3.2 billion yen.

The progress rate against the 20 billion yen full-year plan was 12.1%, also falling below the five-year average of 23.7%.

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 expand by 36.4% from the same period last year, reaching 17.5 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit significantly dropped to 265 million yen, a 71.0% decrease compared to the same period last year. The operating profit margin worsened from 2.1% in the same period last year to 0.5%.

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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 85,115 2,737 2,800 1,875 16.4 18.3 Nov 1, 2022 J-GAAP
Apr - Sep, 2023 85,497 4,567 4,710 3,282 28.9 26.8 Oct 31, 2023 J-GAAP
Apr - Sep, 2024 86,049 2,307 2,412 1,609 14.5 12.1 Oct 29, 2024 J-GAAP
YoY +0.6% -49.5% -48.8% -51.0% -49.8%

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 90,000 3,200 3,200 2,200 20.0 46.25 Apr 30, 2024 J-GAAP
Apr - Sep, 2024 Results 86,049 2,307 2,412 1,609 14.5 46.25 Oct 29, 2024 J-GAAP
Revision Rate -4.4% -27.9% -24.6% -26.9% -27.4%

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 108,867 12,875 12,894 7,543 66.6 37.50 Apr 30, 2024 J-GAAP
Oct - Mar, 2024 Guidance 113,951 17,693 17,588 12,391 113.7 46.25 Oct 29, 2024 J-GAAP
YoY +4.7% +37.4% +36.4% +64.3% +70.6%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 207,942 15,127 15,314 10,568 92.6 65 Apr 27, 2023 J-GAAP
Mar, 2024 194,364 17,442 17,604 10,825 95.6 75 Apr 30, 2024 J-GAAP
Mar, 2025 Guidance 200,000 20,000 20,000 14,000 128.4 92.50 Apr 30, 2024 J-GAAP
YoY +2.9% +14.7% +13.6% +29.3% +34.3%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 39,444 842 913 621 5.5 2.1 Oct 31, 2023 J-GAAP
Oct - Dec, 2023 49,588 4,973 4,951 3,598 31.7 10.0 Feb 1, 2024 J-GAAP
Jan - Mar, 2024 59,279 7,902 7,943 3,945 34.9 13.3 Apr 30, 2024 J-GAAP
Apr - Jun, 2024 44,601 2,088 2,147 1,453 13.0 4.7 Jul 30, 2024 J-GAAP
Jul - Sep, 2024 41,448 219 265 156 1.4 0.5 Oct 29, 2024 J-GAAP
YoY +5.1% -74.0% -71.0% -74.9% -74.4%

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