Nippon Electric Glass Co., Ltd., July-September (3Q) Ordinary Profit Turns to Loss

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Wed Oct 30, 2024 4:20 pm JST Earnings

5214 Nippon Electric Glass Co., Ltd. 【J-GAAP】

Earnings Report

Nippon Electric Glass Co., Ltd. <5214> [TSE-P] announced its financial results after the market closed on October 30th (16:20). The consolidated ordinary profit/loss for the cumulative third quarter of the fiscal year ending December 2024 (January to September) turned into a profit of 6.34 billion yen (compared to a loss of 2.07 billion yen in the same period last year). However, The progress rate against the 10 billion yen full-year plan was 63.4%, also falling below the five-year average of 77.1%.

Based on the third-quarter cumulative performance announced by the company and the unchanged full-year plan, our calculation indicates that the consolidated ordinary profit/loss for the October to December period (4Q) is expected to turn into a profit of 3.65 billion yen (compared to a loss of 7.4 billion yen in the same period last year).

In the most recent three-month period, from July to September (3Q), the consolidated ordinary profit/loss turned to a loss of 3.93 billion yen (compared to a profit of 994 million yen in the same period last year). However, the operating profit/loss margin significantly improved from -1.1% in the same period last year to 2.4%.

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Actual Results

Accumulated Results 3rd Quarter

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Progress Rate vs. First Half	Announce	Accounting Standards
Jan - Sep, 2022	251,202	23,254	34,653	29,185	313.7	101.7	Oct 31, 2022	J-GAAP
Jan - Sep, 2023	209,369	-6,546	-2,072	-16,231	-174.4	ー	Oct 30, 2023	J-GAAP
Jan - Sep, 2024	227,530	4,613	6,343	30,788	356.6	63.4	Oct 30, 2024	J-GAAP
YoY	+8.7%	－	－	－	－

Current Period Guidance

Second Half Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Jul - Dec, 2023	140,796	-4,678	-6,414	-10,477	-113.2	60	Feb 5, 2024	J-GAAP
Jul - Dec, 2024 Guidance	155,283	2,125	-276	-202	-2.5	65	Jul 29, 2024	J-GAAP
YoY	+10.3%	－	+95.7%	+98.1%	+97.8%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Dec, 2022	324,634	26,184	34,058	28,167	302.8	120	Feb 3, 2023	J-GAAP
Dec, 2023	279,974	-10,420	-9,480	-26,188	-282.9	120	Feb 5, 2024	J-GAAP
Dec, 2024 Guidance	310,000	5,000	10,000	30,000	371.7	130	Jul 29, 2024	J-GAAP
YoY	+10.7%	－	－	－	－

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	70,191	-804	994	-520	-5.6	-1.1	Oct 30, 2023	J-GAAP
Oct - Dec, 2023	70,605	-3,874	-7,408	-9,957	-107.6	-5.5	Feb 5, 2024	J-GAAP
Jan - Mar, 2024	76,656	765	4,627	19,616	224.6	1.0	Apr 30, 2024	J-GAAP
Apr - Jun, 2024	78,061	2,110	5,649	10,586	121.7	2.7	Jul 29, 2024	J-GAAP
Jul - Sep, 2024	72,813	1,738	-3,933	586	6.8	2.4	Oct 30, 2024	J-GAAP
YoY	+3.7%	－	－	－	－