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MEIKO CONSTRUCTION CO.,LTD., First Half Ordinary Profit Increases by 34%, July-September Ordinary Profit Increases by 91%

Wed Oct 30, 2024 4:00 pm JST Earnings

1869 MEIKO CONSTRUCTION CO.,LTD. 【J-GAAP】

Earnings Report

MEIKO CONSTRUCTION CO.,LTD. <1869> [NSE-M] announced its financial results after the market closed on October 30th (16:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) expanded to 3.02 billion yen, an increase of 34.2% compared to the same period last year. The progress rate against the 5.4 billion yen full-year plan was 56.0%, also surpassing the five-year average of 41.4%.

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 drop by 33.4% from the same period last year to 2.37 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit increased by 91.0% from the same period last year, reaching 2.3 billion yen. The operating profit margin significantly improved from 5.7% in the same period last year to 10.5%.

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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 36,761 2,415 2,630 1,862 73.8 39.2 Nov 2, 2022 J-GAAP
Apr - Sep, 2023 40,029 1,984 2,252 1,555 61.6 38.7 Nov 2, 2023 J-GAAP
Apr - Sep, 2024 40,305 2,720 3,023 2,053 81.4 56.0 Oct 30, 2024 J-GAAP
YoY +0.7% +37.1% +34.2% +32.0% +32.1%

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 40,305 2,720 3,023 2,053 81.3 18 Oct 28, 2024 J-GAAP
Apr - Sep, 2024 Results 40,305 2,720 3,023 2,053 81.4 18 Oct 30, 2024 J-GAAP
Revision Rate 0.0% 0.0% 0.0% 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 46,189 3,386 3,568 2,473 98.0 19 May 9, 2024 J-GAAP
Oct - Mar, 2024 Guidance 51,195 2,280 2,377 1,747 69.2 18 Oct 28, 2024 J-GAAP
YoY +10.8% -32.7% -33.4% -29.4% -29.4%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 84,185 6,331 6,704 4,657 184.5 34 May 11, 2023 J-GAAP
Mar, 2024 86,218 5,370 5,820 4,028 159.6 36 May 9, 2024 J-GAAP
Mar, 2025 Guidance 91,500 5,000 5,400 3,800 150.5 36 May 9, 2024 J-GAAP
YoY +6.1% -6.9% -7.2% -5.7% -5.7%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 20,884 1,193 1,207 843 33.4 5.7 Nov 2, 2023 J-GAAP
Oct - Dec, 2023 23,727 1,978 2,113 1,426 56.5 8.3 Jan 29, 2024 J-GAAP
Jan - Mar, 2024 22,462 1,408 1,455 1,047 41.5 6.3 May 9, 2024 J-GAAP
Apr - Jun, 2024 18,374 426 718 469 18.6 2.3 Jul 31, 2024 J-GAAP
Jul - Sep, 2024 21,931 2,294 2,305 1,584 62.8 10.5 Oct 30, 2024 J-GAAP
YoY +5.0% +92.3% +91.0% +87.9% +88.0%

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