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AGC Inc., January-September (Third Quarter Cumulative) Net Income Turns to Loss, July-September Net Income Decreases by 52%

Fri Nov 1, 2024 1:00 pm JST Earnings

5201 AGC Inc. 【IFRS】

Earnings Report

AGC Inc. <5201> [TSE-P] announced its financial results (based on IFRS) in the afternoon session on November 1st (13:00). The consolidated net income/loss for the cumulative third quarter of the fiscal year ending December 2024 (January to September) turned into a loss of 106 billion yen (compared to a profit of 57.5 billion yen in the same period last year).

Based on the third-quarter cumulative performance announced by the company and the unchanged full-year plan, our calculation indicates that the consolidated net income for the October to December period (4Q) is expected to expand by 38.2% from the same period last year, reaching 11.4 billion yen.

In the most recent three-month period, from July to September (3Q), the consolidated net income significantly dropped to 8.09 billion yen, a 52.3% decrease compared to the same period last year. However, the operating profit margin improved from 6.3% in the same period last year to 7.2%.

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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 1,498,850 152,094 165,227 98,754 445.6 282.4 Nov 2, 2022 IFRS
Jan - Sep, 2023 1,483,817 95,534 99,212 57,540 265.0 80.8 Nov 2, 2023 IFRS
Jan - Sep, 2024 1,534,224 94,012 -74,394 -106,410 -502.1 Nov 1, 2024 IFRS
YoY +3.4% -1.6%

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 1,033,937 64,443 56,805 25,220 116.8 105 Feb 7, 2024 IFRS
Jul - Dec, 2024 Guidance 1,084,805 73,310 50,388 19,500 91.9 105 Aug 1, 2024 IFRS
YoY +4.9% +13.8% -11.3% -22.7% -21.4%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Dec, 2022 2,035,874 183,942 58,512 -3,152 -14.2 210 Feb 8, 2023 IFRS
Dec, 2023 2,019,254 128,779 122,775 65,798 304.7 210 Feb 7, 2024 IFRS
Dec, 2024 Guidance 2,100,000 130,000 -42,000 -95,000 -447.5 210 Aug 1, 2024 IFRS
YoY +4.0% +0.9%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 498,500 31,198 33,242 16,962 78.1 6.3 Nov 2, 2023 IFRS
Oct - Dec, 2023 535,437 33,245 23,563 8,258 38.3 6.2 Feb 7, 2024 IFRS
Jan - Mar, 2024 498,740 24,143 -6,303 -20,955 -98.9 4.8 May 8, 2024 IFRS
Apr - Jun, 2024 516,455 32,547 -86,085 -93,545 -441.4 6.3 Aug 1, 2024 IFRS
Jul - Sep, 2024 519,029 37,322 17,994 8,090 38.2 7.2 Nov 1, 2024 IFRS
YoY +4.1% +19.6% -45.9% -52.3% -51.1%

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