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Hitachi, Ltd., July-September (2Q) Net Income Decreases by 16%

Wed Oct 30, 2024 3:00 pm JST Earnings

6501 Hitachi, Ltd. 【IFRS】

Earnings Report

Hitachi, Ltd. <6501> [TSE-P] announced its financial results (based on IFRS) after the market closed on October 30th (15:00). The consolidated net income for the cumulative second quarter of the fiscal year ending March 2025 (April to September) expanded to 292 billion yen, an increase of 39.8% compared to the same period last year. However, The progress rate against the 600 billion yen full-year plan was 48.7%, also falling below the five-year average of 76.7%.

Based on the first-half performance announced by the company and the full-year plan, our calculation indicates that the consolidated net income for the October to March period (second half) is expected to decrease by 19.2% from the same period last year to 307 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated net income decreased to 116 billion yen, a 15.9% decrease compared to the same period last year. However, the operating profit margin improved from 7.4% in the same period last year to 8.9%.

Kabutan News

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 5,416,779 324,629 282,145 172,515 36.0 34.4 Oct 28, 2022 IFRS
Apr - Sep, 2023 4,960,069 325,482 322,056 209,103 44.8 39.0 Oct 27, 2023 IFRS
Apr - Sep, 2024 4,545,982 404,739 439,335 292,273 63.3 51.4 Oct 30, 2024 IFRS
YoY -8.3% +24.4% +36.4% +39.8% +41.2%

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 － － Apr 26, 2024 IFRS
Apr - Sep, 2024 Results 4,545,982 404,739 439,335 292,273 63.3 21 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 9,000,000 855,000 850,000 600,000 130.9 － Apr 26, 2024 IFRS
Mar, 2025 New 9,150,000 875,000 855,000 600,000 130.9 － Oct 30, 2024 IFRS
Revision Rate +1.7% +2.3% +0.6% 0.0% 0.0%

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 4,768,647 430,334 503,745 380,793 81.9 20 Apr 26, 2024 IFRS
Oct - Mar, 2024 Guidance 4,604,018 470,261 415,665 307,727 67.1 － Oct 30, 2024 IFRS
YoY -3.5% +9.3% -17.5% -19.2% -18.0%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 10,881,150 748,144 819,971 649,124 136.9 29 Apr 27, 2023 IFRS
Mar, 2024 9,728,716 755,816 825,801 589,896 126.9 36 Apr 26, 2024 IFRS
Mar, 2025 Guidance 9,150,000 875,000 855,000 600,000 130.9 － Oct 30, 2024 IFRS
YoY -5.9% +15.8% +3.5% +1.7% +3.2%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 2,637,581 194,936 206,571 139,082 29.8 7.4 Oct 27, 2023 IFRS
Oct - Dec, 2023 2,258,085 200,219 320,051 235,989 50.7 8.9 Jan 31, 2024 IFRS
Jan - Mar, 2024 2,510,562 230,115 183,694 144,804 31.2 9.2 Apr 26, 2024 IFRS
Apr - Jun, 2024 2,211,423 197,624 252,377 175,325 37.9 8.9 Jul 31, 2024 IFRS
Jul - Sep, 2024 2,334,559 207,115 186,958 116,948 25.3 8.9 Oct 30, 2024 IFRS
YoY -11.5% +6.2% -9.5% -15.9% -15.1%

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