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

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% － － － －

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