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Sumitomo Bakelite Company Limited, First Half Net Income Increases by 15%, July-September Net Income Increases by 7%

Tue Nov 5, 2024 11:30 am JST Earnings

4203 Sumitomo Bakelite Company Limited 【IFRS】

Earnings Report

Sumitomo Bakelite Company Limited <4203> [TSE-P] announced its financial results (based on IFRS) at noon (11:30) on November 5th. The consolidated net income for the cumulative second quarter of the fiscal year ending March 2025 (April to September) increased by 15.1% from the same period last year, reaching 12.7 billion yen. The progress rate against the 24 billion yen full-year plan was 53.1%, almost the same as the five-year average of 51.5%.

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 4.7% from the same period last year, reaching 11.2 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated net income grew by 7.1% from the same period last year, reaching 5.74 billion yen. The operating profit margin improved from 8.5% in the same period last year to 9.8%.

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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 143,470 12,482 12,479 9,230 98.1 46.7 Nov 7, 2022 IFRS
Apr - Sep, 2023 141,942 12,604 14,718 11,074 118.2 46.7 Nov 6, 2023 IFRS
Apr - Sep, 2024 153,134 15,661 17,316 12,741 136.8 Nov 5, 2024 IFRS
YoY +7.9% +24.3% +17.7% +15.1% +15.7%

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 45 May 13, 2024 IFRS
Apr - Sep, 2024 Results 153,134 15,661 17,316 12,741 136.8 45 Nov 5, 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 145,325 14,596 16,771 10,757 115.1 40 May 13, 2024 IFRS
Oct - Mar, 2024 Guidance 155,866 11,259 120.9 45 Nov 5, 2024 IFRS
YoY +7.3% +4.7% +5.0%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 284,939 24,823 26,736 20,289 215.6 65 May 15, 2023 IFRS
Mar, 2024 287,267 27,200 31,489 21,831 233.7 75 May 13, 2024 IFRS
Mar, 2025 Guidance 309,000 24,000 257.7 90 May 13, 2024 IFRS
YoY +7.6% +9.9% +10.3%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 71,688 6,105 7,154 5,362 57.2 8.5 Nov 6, 2023 IFRS
Oct - Dec, 2023 73,512 7,936 8,843 6,955 74.4 10.8 Feb 5, 2024 IFRS
Jan - Mar, 2024 71,813 6,660 7,928 3,802 40.7 9.3 May 13, 2024 IFRS
Apr - Jun, 2024 76,653 8,173 9,445 7,000 75.2 10.7 Aug 5, 2024 IFRS
Jul - Sep, 2024 76,481 7,488 7,871 5,741 61.6 9.8 Nov 5, 2024 IFRS
YoY +6.7% +22.7% +10.0% +7.1% +7.7%

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