GS Yuasa Corporation, First Half Ordinary Profit Increases by 21%

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Wed Nov 6, 2024 3:00 pm JST Earnings

6674 GS Yuasa Corporation 【J-GAAP】

Earnings Report

GS Yuasa Corporation <6674> [TSE-P] announced its financial results in the afternoon session on November 6th (15:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) increased by 20.7% from the same period last year, reaching 14.4 billion yen, exceeded the previous forecast of 12.5 billion yen.

The progress rate against the 44 billion yen full-year plan was 32.9%, exceeding the five-year average of 27.8%.

Based on the first-half performance announced by the company and the unchanged full-year plan, our calculation indicates that the consolidated ordinary profit for the October to March period (second half) is expected to decrease by 7.7% from the same period last year to 29.5 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit grew by 10.4% from the same period last year, reaching 7.79 billion yen. The operating profit margin improved from 5.8% in the same period last year to 7.0%.

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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	235,224	8,224	6,015	1,713	21.3	24.8	Nov 8, 2022	J-GAAP
Apr - Sep, 2023	256,805	12,674	11,993	5,958	74.1	27.3	Nov 7, 2023	J-GAAP
Apr - Sep, 2024	264,505	15,722	14,479	9,409	93.8	32.9	Nov 6, 2024	J-GAAP
YoY	+3.0%	+24.0%	+20.7%	+57.9%	+26.7%

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	263,000	13,000	12,500	6,000	59.8	20	May 10, 2024	J-GAAP
Apr - Sep, 2024 Results	264,505	15,722	14,479	9,409	93.8	20	Nov 6, 2024	J-GAAP
Revision Rate	+0.6%	+20.9%	+15.8%	+56.8%	+56.8%

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	306,092	28,921	31,988	26,106	301.0	55	May 10, 2024	J-GAAP
Oct - Mar, 2024 Guidance	325,495	28,278	29,521	16,591	165.4	50	Nov 6, 2024	J-GAAP
YoY	+6.3%	-2.2%	-7.7%	-36.4%	-45.1%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	517,735	31,500	24,213	13,925	173.1	50	May 11, 2023	J-GAAP
Mar, 2024	562,897	41,595	43,981	32,064	369.7	70	May 10, 2024	J-GAAP
Mar, 2025 Guidance	590,000	44,000	44,000	26,000	259.2	70	May 10, 2024	J-GAAP
YoY	+4.8%	+5.8%	+0.0%	-18.9%	-29.9%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	136,265	7,838	7,058	4,309	53.6	5.8	Nov 7, 2023	J-GAAP
Oct - Dec, 2023	154,786	16,705	16,965	11,783	143.3	10.8	Feb 6, 2024	J-GAAP
Jan - Mar, 2024	151,306	12,216	15,023	14,323	165.2	8.1	May 10, 2024	J-GAAP
Apr - Jun, 2024	127,583	6,184	6,686	4,785	47.7	4.8	Aug 5, 2024	J-GAAP
Jul - Sep, 2024	136,922	9,538	7,793	4,624	46.1	7.0	Nov 6, 2024	J-GAAP
YoY	+0.5%	+21.7%	+10.4%	+7.3%	-13.9%