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Marubeni Corporation, First Half Net Income Decreases by 5%, July-September Net Income Decreases by 13%

Fri Nov 1, 2024 11:00 am JST Earnings

8002 Marubeni Corporation 【IFRS】

Earnings Report

Marubeni Corporation <8002> [TSE-P] announced its financial results (based on IFRS) in the morning on November 1st (11:00). The consolidated net income for the cumulative second quarter of the fiscal year ending March 2025 (April to September) decreased by 5.2% from the same period last year to 238 billion yen. The progress rate against the 480 billion yen full-year plan was 49.6%, almost the same as the five-year average of 51.3%.

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 grow by 9.9% from the same period last year, reaching 241 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated net income decreased to 95.5 billion yen, a 13.2% decrease compared to the same period last year. The operating profit margin worsened from 3.3% in the same period last year to 2.8%.

Kabutan News

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 5,595,134 230,062 390,637 314,651 182.6 59.9 Nov 4, 2022 IFRS
Apr - Sep, 2023 3,750,610 151,479 306,288 251,304 148.3 54.0 Nov 2, 2023 IFRS
Apr - Sep, 2024 3,891,199 145,140 295,045 238,124 143.1 ー Nov 1, 2024 IFRS
YoY +3.7% -4.2% -3.7% -5.2% -3.5%

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 － 45 May 2, 2024 IFRS
Apr - Sep, 2024 Results 3,891,199 145,140 295,045 238,124 143.1 45 Nov 1, 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 3,499,905 124,842 260,848 220,108 130.6 43.50 May 2, 2024 IFRS
Oct - Mar, 2024 Guidance ー ー ー 241,876 145.8 45 Nov 1, 2024 IFRS
YoY － － － +9.9% +11.7%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 9,190,472 340,814 651,745 543,001 316.1 78 May 8, 2023 IFRS
Mar, 2024 7,250,515 276,321 567,136 471,412 279.6 85 May 2, 2024 IFRS
Mar, 2025 Guidance ー ー ー 480,000 289.4 90 May 2, 2024 IFRS
YoY － － － +1.8% +3.5%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 1,730,871 56,374 133,579 110,027 64.9 3.3 Nov 2, 2023 IFRS
Oct - Dec, 2023 1,677,155 60,108 145,273 120,165 71.1 3.6 Feb 2, 2024 IFRS
Jan - Mar, 2024 1,822,750 64,734 115,575 99,943 59.3 3.6 May 2, 2024 IFRS
Apr - Jun, 2024 2,051,315 93,382 178,989 142,601 85.5 4.6 Aug 1, 2024 IFRS
Jul - Sep, 2024 1,839,884 51,758 116,056 95,523 57.4 2.8 Nov 1, 2024 IFRS
YoY +6.3% -8.2% -13.1% -13.2% -11.6%

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