Panasonic Holdings Corporation, July-September (2Q) Net Income Increases by 35%

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Thu Oct 31, 2024 3:30 pm JST Earnings

6752 Panasonic Holdings Corporation 【IFRS】

Earnings Report

Panasonic Holdings Corporation <6752> [TSE-P] announced its financial results (based on IFRS) after the market closed on October 31st (15:30). The consolidated net income for the cumulative second quarter of the fiscal year ending March 2025 (April to September) dropped by 34.5% from the same period last year to 188 billion yen. The progress rate against the 310 billion yen full-year plan was 60.9%, also surpassing the five-year average of 47.9%.

Based on the first-half performance announced by the company and the unchanged full-year plan, our calculation indicates that the consolidated net income for the October to March period (second half) is expected to decrease by 22.2% from the same period last year to 121 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated net income increased by 35.2% from the same period last year, reaching 118 billion yen. The operating profit margin improved from 4.9% in the same period last year to 6.2%.

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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	4,063,929	149,759	166,620	107,337	46.0	52.7	Oct 31, 2022	IFRS
Apr - Sep, 2023	4,119,424	192,835	224,331	288,379	123.6	52.8	Oct 30, 2023	IFRS
Apr - Sep, 2024	4,251,310	216,046	250,959	188,909	80.9	58.4	Oct 31, 2024	IFRS
YoY	+3.2%	+12.0%	+11.9%	-34.5%	-34.5%

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	－	20	Aug 30, 2024	IFRS
Apr - Sep, 2024 Results	4,251,310	216,046	250,959	188,909	80.9	20	Oct 31, 2024	IFRS
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	4,376,996	168,127	200,908	155,615	66.7	17.50	May 9, 2024	IFRS
Oct - Mar, 2024 Guidance	4,348,690	163,954	179,041	121,091	51.9	20	Oct 31, 2024	IFRS
YoY	-0.6%	-2.5%	-10.9%	-22.2%	-22.2%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	8,378,942	288,570	316,409	265,502	113.8	30	May 10, 2023	IFRS
Mar, 2024	8,496,420	360,962	425,239	443,994	190.2	35	May 9, 2024	IFRS
Mar, 2025 Guidance	8,600,000	380,000	430,000	310,000	132.8	40	Aug 30, 2024	IFRS
YoY	+1.2%	+5.3%	+1.1%	-30.2%	-30.2%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	2,089,730	102,463	115,598	87,454	37.5	4.9	Oct 30, 2023	IFRS
Oct - Dec, 2023	2,180,882	127,422	144,453	110,799	47.5	5.8	Feb 2, 2024	IFRS
Jan - Mar, 2024	2,196,114	40,705	56,455	44,816	19.2	1.9	May 9, 2024	IFRS
Apr - Jun, 2024	2,121,689	83,761	104,713	70,633	30.3	3.9	Jul 31, 2024	IFRS
Jul - Sep, 2024	2,129,621	132,285	146,246	118,276	50.7	6.2	Oct 31, 2024	IFRS
YoY	+1.9%	+29.1%	+26.5%	+35.2%	+35.2%