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

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 9,257 9,638 5,510 57.7 43.8 Nov 6, 2024 J-GAAP
YoY +8.5% +14.8% +9.9% -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 9,257 9,638 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 11,743 12,362 7,790 82.9 24 Nov 6, 2024 J-GAAP
YoY +5.3% +3.0% +0.4% +15.3% +19.5%

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 13,300 141.5 48 May 9, 2024 J-GAAP
YoY +6.8% +7.9% +4.3% -24.3% -21.6%

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 5,572 5,724 3,556 36.7 7.5 Jul 31, 2024 J-GAAP
Jul - Sep, 2024 80,231 3,685 3,914 1,954 20.5 4.6 Nov 6, 2024 J-GAAP
YoY +10.9% +16.9% +11.3% -31.4% -29.9%

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