SUMITOMO CHEMICAL COMPANY, LIMITED, The Current Fiscal Year Net Income Revised Upward by 25%

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Wed Oct 30, 2024 1:30 pm JST Earnings

4005 SUMITOMO CHEMICAL COMPANY, LIMITED 【IFRS】

Earnings Report

SUMITOMO CHEMICAL COMPANY, LIMITED <4005> [TSE-P] announced its financial results (based on IFRS) in the afternoon session on October 30th (13:30). The consolidated net loss for the cumulative second quarter of the fiscal year ending March 2025 (April to September) was a reduced loss of 6.52 billion yen (compared to a loss of 76.3 billion yen in the same period last year).

In addition, the full-year consolidated net income has been revised upward by 25.0%, from the previous forecast of 20 billion yen to 25 billion yen (compared to a loss of 311 billion yen in the previous period).

Based on the first-half performance announced by the company and the full-year plan, our calculation indicates that the consolidated net income/loss for the October to March period (second half) is expected to turn into a profit of 31.5 billion yen (compared to a loss of 235 billion yen in the same period last year).

In the most recent three-month period, from July to September (2Q), the consolidated net loss improved to a deficit of loss of 30.9 billion yen (compared to a loss of 43.1 billion yen in the same period last year). The operating profit/loss margin drastically improved from -9.9% in the same period last year to 17.4%.

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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	1,528,563	60,567	126,778	81,063	49.6	54,882.3	Nov 1, 2022	IFRS
Apr - Sep, 2023	1,186,875	-133,679	-103,796	-76,346	-46.7	ー	Nov 1, 2023	IFRS
Apr - Sep, 2024	1,241,395	121,249	-30,539	-6,527	-4.0	ー	Oct 30, 2024	IFRS
YoY	+4.6%	－	+70.6%	+91.5%	+91.5%

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	ー	ー	ー	ー	－	3	May 15, 2024	IFRS
Apr - Sep, 2024 Results	1,241,395	121,249	-30,539	-6,527	-4.0	3	Oct 30, 2024	IFRS
Revision Rate	－	－	－	－	－

Guidance Update

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	2,670,000	70,000	ー	20,000	12.2	9	May 15, 2024	IFRS
Mar, 2025 New	2,600,000	180,000	ー	25,000	15.3	9	Oct 30, 2024	IFRS
Revision Rate	-2.6%	+157.1%	－	+25.0%	+25.0%

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	1,260,018	-355,147	-358,996	-235,492	-144.0	3	May 15, 2024	IFRS
Oct - Mar, 2024 Guidance	1,358,605	58,751	ー	31,527	19.3	6	Oct 30, 2024	IFRS
YoY	+7.8%	－	－	－	－

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	2,895,283	-30,984	231	6,987	4.3	18	May 15, 2023	IFRS
Mar, 2024	2,446,893	-488,826	-462,792	-311,838	-190.7	9	May 15, 2024	IFRS
Mar, 2025 Guidance	2,600,000	180,000	ー	25,000	15.3	9	Oct 30, 2024	IFRS
YoY	+6.3%	－	－	－	－

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	623,732	-61,932	-53,934	-43,193	-26.4	-9.9	Nov 1, 2023	IFRS
Oct - Dec, 2023	619,994	-26,955	-56,157	-33,432	-20.4	-4.3	Feb 2, 2024	IFRS
Jan - Mar, 2024	640,024	-328,192	-302,839	-202,060	-123.6	-51.3	May 15, 2024	IFRS
Apr - Jun, 2024	612,144	11,499	37,481	24,383	14.9	1.9	Aug 2, 2024	IFRS
Jul - Sep, 2024	629,251	109,750	-68,020	-30,910	-18.9	17.4	Oct 30, 2024	IFRS
YoY	+0.9%	－	-26.1%	+28.4%	+28.5%