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NGK SPARK PLUG CO.,LTD., The Current Fiscal Year Net Income Revised Upward by 14%, Adds to Record High Profit Forecast, Dividend Revised Upward by 11 yen

Thu Oct 31, 2024 3:00 pm JST Earnings

5334 NGK SPARK PLUG CO.,LTD. 【IFRS】

Earnings Report

NGK SPARK PLUG CO.,LTD. <5334> [TSE-P] announced its financial results (based on IFRS) after the market closed on October 31st (15:00). The consolidated net income for the cumulative second quarter of the fiscal year ending March 2025 (April to September) increased by 9.1% from the same period last year, reaching 50.3 billion yen, resulting in an increase in profits compared to the previous forecast of a 11.2% decrease.

In addition, the full-year consolidated net income has been revised upward by 14.5%, from the previous forecast of 83 billion yen to 95 billion yen (compared to 82.6 billion yen in the previous period), increasing the growth rate from 0.4% to 14.9%, further surpassing the previous forecast of record-high profits for four consecutive terms.

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 grow by 22.3% from the same period last year, reaching 44.6 billion yen.

In light of the strong performance, the company has increased its planned annual dividend for the current fiscal year from the original plan of 166 yen to 177 yen (compared to 164 yen in the previous period).

In the most recent three-month period, from July to September (2Q), the consolidated net income amounted to 22.5 billion yen, an increase of 2.0% compared to the same period last year. The operating profit margin rose from 18.6% in the same period last year to 20.8%.

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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 279,072 53,599 61,715 43,085 211.9 66.1 Oct 28, 2022 IFRS
Apr - Sep, 2023 301,152 57,009 65,576 46,186 227.6 56.0 Oct 30, 2023 IFRS
Apr - Sep, 2024 324,587 72,292 71,890 50,398 253.5 53.3 Oct 31, 2024 IFRS
YoY +7.8% +26.8% +9.6% +9.1% +11.4%

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 318,000 58,000 57,750 41,000 206.6 83 Apr 30, 2024 IFRS
Apr - Sep, 2024 Results 324,587 72,292 71,890 50,398 253.5 88 Oct 31, 2024 IFRS
Revision Rate +2.1% +24.6% +24.5% +22.9% +22.7%

Guidance Update

Full Year Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2025 Prev 643,000 115,000 117,500 83,000 418.3 166 Apr 30, 2024 IFRS
Mar, 2025 New 653,000 130,000 135,000 95,000 478.7 177 Oct 31, 2024 IFRS
Revision Rate +1.6% +13.0% +14.9% +14.5% +14.5%

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 313,334 50,582 51,608 36,460 180.6 84 Apr 30, 2024 IFRS
Oct - Mar, 2024 Guidance 328,413 57,708 63,110 44,602 224.8 89 Oct 31, 2024 IFRS
YoY +4.8% +14.1% +22.3% +22.3% +24.4%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 562,559 89,219 93,384 66,293 326.1 166 Apr 28, 2023 IFRS
Mar, 2024 614,486 107,591 117,184 82,646 409.5 164 Apr 30, 2024 IFRS
Mar, 2025 Guidance 653,000 130,000 135,000 95,000 478.7 177 Oct 31, 2024 IFRS
YoY +6.3% +20.8% +15.2% +14.9% +16.9%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 153,202 28,564 29,449 22,107 109.0 18.6 Oct 30, 2023 IFRS
Oct - Dec, 2023 154,717 30,891 29,886 22,138 109.5 20.0 Jan 31, 2024 IFRS
Jan - Mar, 2024 158,617 19,691 21,722 14,322 71.0 12.4 Apr 30, 2024 IFRS
Apr - Jun, 2024 165,450 39,132 42,415 27,849 139.8 23.7 Jul 31, 2024 IFRS
Jul - Sep, 2024 159,137 33,160 29,475 22,549 113.4 20.8 Oct 31, 2024 IFRS
YoY +3.9% +16.1% +0.1% +2.0% +4.1%

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