MARUFUJI SHEET PILING CO., LTD., First Half Ordinary Profit Increases by 11%

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Thu Oct 31, 2024 1:00 pm JST Earnings

8046 MARUFUJI SHEET PILING CO., LTD. 【J-GAAP】

Earnings Report

MARUFUJI SHEET PILING CO., LTD. <8046> [TSE-S] announced its financial results in the afternoon session on October 31st (13:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) increased by 11.3% from the same period last year, reaching 864 million yen. The progress rate against the 1.94 billion yen full-year plan was 44.5%, exceeding the five-year average of 35.5%.

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 decrease by 6.4% from the same period last year to 1.07 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit decreased to 366 million yen, a 15.1% decrease compared to the same period last year. The operating profit margin worsened from 3.4% in the same period last year to 3.0%.

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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	15,623	294	512	330	92.3	33.1	Oct 31, 2022	J-GAAP
Apr - Sep, 2023	16,672	510	776	533	148.9	40.3	Oct 31, 2023	J-GAAP
Apr - Sep, 2024	16,733	634	864	567	158.7	44.5	Oct 31, 2024	J-GAAP
YoY	+0.4%	+24.3%	+11.3%	+6.4%	+6.5%

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	－	0	May 14, 2024	J-GAAP
Apr - Sep, 2024 Results	16,733	634	864	567	158.7	0	Oct 31, 2024	J-GAAP
Revision Rate	－	－	－	－	－

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	17,871	900	1,150	839	234.4	110	May 14, 2024	J-GAAP
Oct - Mar, 2024 Guidance	19,367	826	1,076	723	202.0	110	Oct 31, 2024	J-GAAP
YoY	+8.4%	-8.2%	-6.4%	-13.8%	-13.8%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	35,104	1,063	1,548	1,038	290.2	90	May 12, 2023	J-GAAP
Mar, 2024	34,543	1,410	1,926	1,372	383.4	110	May 14, 2024	J-GAAP
Mar, 2025 Guidance	36,100	1,460	1,940	1,290	360.4	110	May 14, 2024	J-GAAP
YoY	+4.5%	+3.5%	+0.7%	-6.0%	-6.0%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	8,299	284	431	310	86.6	3.4	Oct 31, 2023	J-GAAP
Oct - Dec, 2023	8,951	687	788	521	145.6	7.7	Jan 31, 2024	J-GAAP
Jan - Mar, 2024	8,920	213	362	318	88.9	2.4	May 14, 2024	J-GAAP
Apr - Jun, 2024	8,262	382	498	324	90.8	4.6	Jul 31, 2024	J-GAAP
Jul - Sep, 2024	8,471	252	366	243	68.0	3.0	Oct 31, 2024	J-GAAP
YoY	+2.1%	-11.3%	-15.1%	-21.6%	-21.5%