Sumitomo Forestry Co.,Ltd., January-September (Third Quarter Cumulative) Ordinary Profit Increases by 44%, July-September Ordinary Profit Increases by 48%

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Thu Oct 31, 2024 3:00 pm JST Earnings

1911 Sumitomo Forestry Co.,Ltd. 【J-GAAP】

Earnings Report

Sumitomo Forestry Co.,Ltd. <1911> [TSE-P] announced its financial results after the market closed on October 31st (15:00). The consolidated ordinary profit for the cumulative third quarter of the fiscal year ending December 2024 (January to September) expanded to 142 billion yen, an increase of 43.5% compared to the same period last year. The progress rate against the 193 billion yen full-year plan was 74.1%, exceeding the three-year average of 66.4%.

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 for the October to December period (4Q) is expected to decrease by 16.3% from the same period last year to 50 billion yen.

In the most recent three-month period, from July to September (3Q), the consolidated ordinary profit increased by 48.2% from the same period last year, reaching 47.7 billion yen. The operating profit margin improved from 7.8% in the same period last year to 9.6%.

Kabutan News

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	1,206,293	111,109	141,870	82,718	413.9	72.8	Oct 31, 2022	J-GAAP
Jan - Sep, 2023	1,232,884	97,615	99,579	63,797	315.7	62.5	Oct 31, 2023	J-GAAP
Jan - Sep, 2024	1,492,337	142,564	142,929	85,556	418.1	74.1	Oct 31, 2024	J-GAAP
YoY	+21.0%	+46.0%	+43.5%	+34.1%	+32.4%

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	916,686	81,526	92,052	57,664	284.5	65	Feb 14, 2024	J-GAAP
Jul - Dec, 2024 Guidance	1,113,584	86,693	97,808	59,291	289.7	80	Aug 8, 2024	J-GAAP
YoY	+21.5%	+6.3%	+6.3%	+2.8%	+1.8%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Dec, 2022	1,669,707	158,253	194,994	108,672	543.8	125	Feb 14, 2023	J-GAAP
Dec, 2023	1,733,169	146,755	159,418	102,479	505.5	125	Feb 14, 2024	J-GAAP
Dec, 2024 Guidance	2,095,000	180,000	193,000	115,000	561.9	145	Aug 8, 2024	J-GAAP
YoY	+20.9%	+22.7%	+21.1%	+12.2%	+11.2%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	416,401	32,386	32,213	18,982	93.9	7.8	Oct 31, 2023	J-GAAP
Oct - Dec, 2023	500,285	49,140	59,839	38,682	190.8	9.8	Feb 14, 2024	J-GAAP
Jan - Mar, 2024	453,632	40,631	39,772	22,231	108.6	9.0	Apr 30, 2024	J-GAAP
Apr - Jun, 2024	527,784	52,676	55,420	33,478	163.6	10.0	Aug 8, 2024	J-GAAP
Jul - Sep, 2024	510,921	49,257	47,737	29,847	145.8	9.6	Oct 31, 2024	J-GAAP
YoY	+22.7%	+52.1%	+48.2%	+57.2%	+55.2%