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HONDA MOTOR CO., LTD., The Current Fiscal Year Net Income Revised Downward by 5%

Wed Nov 6, 2024 1:00 pm JST Earnings

7267 HONDA MOTOR CO., LTD. 【IFRS】

Earnings Report

HONDA MOTOR CO., LTD. <7267> [TSE-P] announced its financial results (based on IFRS) in the afternoon session on November 6th (13:00). The consolidated net income for the cumulative second quarter of the fiscal year ending March 2025 (April to September) decreased by 19.7% from the same period last year to 494 billion yen.

In addition, the full-year consolidated net income has downwardly by 5.0%, from the previous forecast of 1 trillion yen to 950 billion yen (compared to 1.1 trillion yen in the previous period), leading to an increase in the profit decline rate from 9.7% to 14.2%.

Based on the first-half performance announced by the company and the full-year plan, our calculation indicates that the consolidated net income for the October to March period (second half) is expected to decrease by 7.2% from the same period last year to 455 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated net income significantly dropped to 100 billion yen, a 60.5% decrease compared to the same period last year. The operating profit margin worsened from 6.1% in the same period last year to 4.8%.

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 8,085,304 453,452 515,831 338,514 66.0 58.6 Nov 9, 2022 IFRS
Apr - Sep, 2023 9,609,392 696,573 879,285 616,301 124.6 53.5 Nov 9, 2023 IFRS
Apr - Sep, 2024 10,797,613 742,608 741,953 494,683 103.3 51.7 Nov 6, 2024 IFRS
YoY +12.4% +6.6% -15.6% -19.7% -17.2%

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 － 34 May 10, 2024 IFRS
Apr - Sep, 2024 Results 10,797,613 742,608 741,953 494,683 103.3 34 Nov 6, 2024 IFRS
Revision Rate － － － － －

Guidance Update

Full Year Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2025 Prev 20,300,000 1,420,000 1,480,000 1,000,000 215.4 68 Aug 7, 2024 IFRS
Mar, 2025 New 21,000,000 1,420,000 1,435,000 950,000 204.7 68 Nov 6, 2024 IFRS
Revision Rate +3.4% 0.0% -3.0% -5.0% -5.0%

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 10,819,410 685,404 763,099 490,873 100.2 39 May 10, 2024 IFRS
Oct - Mar, 2024 Guidance 10,202,387 677,392 693,047 455,317 98.1 34 Nov 6, 2024 IFRS
YoY -5.7% -1.2% -9.2% -7.2% -2.1%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 16,907,725 780,769 879,565 651,416 128.0 40 May 11, 2023 IFRS
Mar, 2024 20,428,802 1,381,977 1,642,384 1,107,174 225.9 68 May 10, 2024 IFRS
Mar, 2025 Guidance 21,000,000 1,420,000 1,435,000 950,000 204.7 68 Nov 6, 2024 IFRS
YoY +2.8% +2.8% -12.6% -14.2% -9.4%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 4,984,396 302,126 364,361 253,232 51.2 6.1 Nov 9, 2023 IFRS
Oct - Dec, 2023 5,390,100 379,812 385,239 253,308 51.5 7.0 Feb 8, 2024 IFRS
Jan - Mar, 2024 5,429,310 305,592 377,860 237,565 48.5 5.6 May 10, 2024 IFRS
Apr - Jun, 2024 5,404,858 484,705 559,474 394,660 81.8 9.0 Aug 7, 2024 IFRS
Jul - Sep, 2024 5,392,755 257,903 182,479 100,023 20.9 4.8 Nov 6, 2024 IFRS
YoY +8.2% -14.6% -49.9% -60.5% -59.2%

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