House Foods Group Inc., First Half Ordinary Profit Increases by 10%, July-September Ordinary Profit Increases by 11%

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Wed Nov 6, 2024 3:00 pm JST Earnings

2810 House Foods Group Inc. 【J-GAAP】

Earnings Report

House Foods Group Inc. <2810> [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 10.0% from the same period last year, reaching 9.65 billion yen. However, The progress rate against the 22 billion yen full-year plan was 43.9%, almost the same as the five-year average of 46.4%.

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 nearly flat at 12.3 billion yen, up 0.3% from the same period last year.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit grew by 11.4% from the same period last year, reaching 3.92 billion yen. The operating profit margin remained almost flat, changing from 4.4% in the same period last year to 4.6%.

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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	133,831	7,632	8,964	5,493	55.9	49.0	Nov 8, 2022	J-GAAP
Apr - Sep, 2023	142,824	8,067	8,770	10,825	111.0	41.6	Nov 7, 2023	J-GAAP
Apr - Sep, 2024	154,964	9,269	9,650	5,510	57.7	43.9	Nov 6, 2024	J-GAAP
YoY	+8.5%	+14.9%	+10.0%	-49.1%	-48.0%

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	ー	ー	ー	ー	－	24	May 9, 2024	J-GAAP
Apr - Sep, 2024 Results	154,964	9,269	9,650	5,510	57.7	24	Nov 6, 2024	J-GAAP
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	156,776	11,403	12,315	6,755	69.4	24	May 9, 2024	J-GAAP
Oct - Mar, 2024 Guidance	165,036	11,731	12,350	7,790	83.0	24	Nov 6, 2024	J-GAAP
YoY	+5.3%	+2.9%	+0.3%	+15.3%	+19.6%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	275,060	16,686	18,300	13,672	139.6	46	May 10, 2023	J-GAAP
Mar, 2024	299,600	19,470	21,085	17,580	180.5	47	May 9, 2024	J-GAAP
Mar, 2025 Guidance	320,000	21,000	22,000	13,300	141.6	48	May 9, 2024	J-GAAP
YoY	+6.8%	+7.9%	+4.3%	-24.3%	-21.5%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	72,371	3,153	3,518	2,847	29.2	4.4	Nov 7, 2023	J-GAAP
Oct - Dec, 2023	82,873	8,602	8,829	5,537	56.8	10.4	Feb 5, 2024	J-GAAP
Jan - Mar, 2024	73,903	2,801	3,486	1,218	12.5	3.8	May 9, 2024	J-GAAP
Apr - Jun, 2024	74,733	5,578	5,730	3,556	36.7	7.5	Jul 31, 2024	J-GAAP
Jul - Sep, 2024	80,231	3,691	3,920	1,954	20.5	4.6	Nov 6, 2024	J-GAAP
YoY	+10.9%	+17.1%	+11.4%	-31.4%	-29.9%