KYOEI TANKER CO., LTD., The Current Fiscal Year Ordinary Profit Revised Upward by 21%

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Fri Nov 1, 2024 4:00 pm JST Earnings

9130 KYOEI TANKER CO., LTD. 【J-GAAP】

Earnings Report

KYOEI TANKER CO., LTD. <9130> [TSE-S] announced its financial results after the market closed on November 1st (16:00). The consolidated ordinary profit/loss for the cumulative second quarter of the fiscal year ending March 2025 (April to September) turned into a profit of 724 million yen (compared to a loss of 422 million yen in the same period last year), exceeded the previous forecast of 550 million yen.

In addition, the full-year consolidated ordinary profit has been revised upward by 21.4%, from the previous forecast of 700 million yen to 850 million yen (compared to 186 million yen in the previous period), increasing the growth rate from 3.8 times to 4.6 times.

Based on the first-half performance announced by the company and the full-year plan, our calculation indicates that the consolidated ordinary profit for the October to March period (second half) is expected to significant drop by 79.3% from the same period last year to 126 million yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit/loss turned to a profit of profit of 480 million yen (compared to a loss of 177 million yen in the same period last year). The operating profit/loss margin drastically improved from -4.8% in the same period last year to 19.0%.

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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	7,071	437	234	166	21.8	87.6	Nov 4, 2022	J-GAAP
Apr - Sep, 2023	6,975	-338	-422	-294	-38.5	ー	Nov 2, 2023	J-GAAP
Apr - Sep, 2024	7,534	932	724	4,900	640.7	85.2	Nov 1, 2024	J-GAAP
YoY	+8.0%	－	－	－	－

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	7,100	800	550	4,700	614.6	20	May 10, 2024	J-GAAP
Apr - Sep, 2024 Results	7,534	932	724	4,900	640.7	20	Nov 1, 2024	J-GAAP
Revision Rate	+6.1%	+16.5%	+31.6%	+4.3%	+4.3%

Guidance Update

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	14,100	1,150	700	4,800	627.6	40	May 10, 2024	J-GAAP
Mar, 2025 New	14,500	1,250	850	4,950	647.3	40	Nov 1, 2024	J-GAAP
Revision Rate	+2.8%	+8.7%	+21.4%	+3.1%	+3.1%

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	7,203	214	608	440	57.8	20	May 10, 2024	J-GAAP
Oct - Mar, 2024 Guidance	6,966	318	126	50	6.5	20	Nov 1, 2024	J-GAAP
YoY	-3.3%	+48.6%	-79.3%	-88.6%	-88.7%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	14,270	682	267	876	114.6	20	May 12, 2023	J-GAAP
Mar, 2024	14,178	-124	186	146	19.2	20	May 10, 2024	J-GAAP
Mar, 2025 Guidance	14,500	1,250	850	4,950	647.3	40	Nov 1, 2024	J-GAAP
YoY	+2.3%	－	+357.0%	+3,290.4%	+3,276.4%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	3,460	-167	-177	-123	-16.1	-4.8	Nov 2, 2023	J-GAAP
Oct - Dec, 2023	3,761	270	447	310	42.0	7.2	Feb 2, 2024	J-GAAP
Jan - Mar, 2024	3,442	-56	161	130	17.1	-1.6	May 10, 2024	J-GAAP
Apr - Jun, 2024	3,591	182	244	4,527	592.0	5.1	Aug 2, 2024	J-GAAP
Jul - Sep, 2024	3,943	750	480	373	48.8	19.0	Nov 1, 2024	J-GAAP
YoY	+14.0%	－	－	－	－