DAIICHI KENSETSU CORPORATION, First Half Ordinary Profit Increases by 67%, July-September Ordinary Profit Increases by 36%

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Wed Nov 6, 2024 3:30 pm JST Earnings

1799 DAIICHI KENSETSU CORPORATION 【J-GAAP】

Earnings Report

DAIICHI KENSETSU CORPORATION <1799> [TSE-S] announced its financial results after the market closed on November 6th (15:30). The ordinary profit (non-consolidated) for the cumulative second quarter of the fiscal year ending March 2025 (April to September) expanded to 3.11 billion yen, an increase of 67.2% compared to the same period last year. The progress rate against the 4.6 billion yen full-year plan was 67.8%, also surpassing the five-year average of 43.4%.

Based on the first-half performance announced by the company and the unchanged full-year plan, our calculation indicates that the ordinary profit for the October to March period (second half) is expected to drop by 33.6% from the same period last year to 1.48 billion yen.

In the most recent three-month period, from July to September (2Q), the ordinary profit increased by 36.3% from the same period last year, reaching 1.39 billion yen. The operating profit margin significantly improved from 7.4% in the same period last year to 10.6%.

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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	20,077	1,157	1,297	882	43.5	33.4	Nov 1, 2022	J-GAAP
Apr - Sep, 2023	24,133	1,670	1,865	1,271	65.1	45.5	Nov 7, 2023	J-GAAP
Apr - Sep, 2024	25,166	2,911	3,119	2,131	112.5	67.8	Nov 6, 2024	J-GAAP
YoY	+4.3%	+74.3%	+67.2%	+67.7%	+72.8%

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	25,000	2,700	2,900	2,000	106.6	0	Aug 2, 2024	J-GAAP
Apr - Sep, 2024 Results	25,166	2,911	3,119	2,131	112.5	0	Nov 6, 2024	J-GAAP
Revision Rate	+0.7%	+7.8%	+7.6%	+6.6%	+5.5%

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	29,860	2,102	2,231	1,520	78.0	80	May 9, 2024	J-GAAP
Oct - Mar, 2024 Guidance	26,834	1,389	1,481	969	51.6	80	Nov 6, 2024	J-GAAP
YoY	-10.1%	-33.9%	-33.6%	-36.3%	-33.8%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	47,367	3,569	3,882	2,643	132.5	50	May 10, 2023	J-GAAP
Mar, 2024	53,993	3,772	4,096	2,791	143.2	80	May 9, 2024	J-GAAP
Mar, 2025 Guidance	52,000	4,300	4,600	3,100	165.2	80	Aug 2, 2024	J-GAAP
YoY	-3.7%	+14.0%	+12.3%	+11.1%	+15.4%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	13,483	1,001	1,020	693	35.5	7.4	Nov 7, 2023	J-GAAP
Oct - Dec, 2023	16,009	1,131	1,240	789	40.5	7.1	Feb 7, 2024	J-GAAP
Jan - Mar, 2024	13,851	971	991	731	37.5	7.0	May 9, 2024	J-GAAP
Apr - Jun, 2024	11,977	1,513	1,729	1,192	62.3	12.6	Aug 2, 2024	J-GAAP
Jul - Sep, 2024	13,189	1,398	1,390	939	49.6	10.6	Nov 6, 2024	J-GAAP
YoY	-2.2%	+39.7%	+36.3%	+35.5%	+39.6%