Coca-Cola Bottlers Japan Holdings Inc., The Current Fiscal Year Net Income Revised Upward by 7%, Dividend Revised Upward by 3 yen

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Wed Nov 6, 2024 4:00 pm JST Earnings

2579 Coca-Cola Bottlers Japan Holdings Inc. 【IFRS】

Earnings Report

Coca-Cola Bottlers Japan Holdings Inc. <2579> [TSE-P] announced its financial results (based on IFRS) after the market closed on November 6th (16:00). The consolidated net income for the cumulative third quarter of the fiscal year ending December 2024 (January to September) surged by 2.6 times that of the same period last year, reaching 10 billion yen.

In addition, the full-year consolidated net income has been revised upward by 7.2%, from the previous forecast of 6.9 billion yen to 7.4 billion yen (compared to 1.87 billion yen in the previous period), increasing the growth rate from 3.7 times to 4.0 times.

Based on the full-year plan announced by the company after the upward revision, our estimate of the consolidated net income for the July to December period (second half) is expected to increase by 6.9%, from the previous forecast of 7.19 billion yen to 7.69 billion yen (compared to 5.81 billion yen in the same period of the previous year), increasing the growth rate from 23.7% to 32.3%.

In light of the strong performance, the company has increased its planned annual dividend for the current fiscal year from the original plan of 50 yen to 53 yen (compared to 50 yen in the previous period).

In the most recent three-month period, from July to September (3Q), the consolidated net income increased by 32.1% from the same period last year, reaching 10.3 billion yen. The operating profit margin improved from 4.9% in the same period last year to 6.2%.

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Actual Results

Accumulated Results 3rd Quarter

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Progress Rate vs. First Half	Announce	Accounting Standards
Jan - Sep, 2022	612,321	-7,053	-7,947	-5,194	-29.0	ー	Nov 10, 2022	IFRS
Jan - Sep, 2023	663,825	6,121	5,947	3,862	21.5	184.5	Nov 9, 2023	IFRS
Jan - Sep, 2024	676,612	17,592	17,238	10,017	55.8	132.6	Nov 6, 2024	IFRS
YoY	+1.9%	+187.4%	+189.9%	+159.4%	+159.1%

Guidance Update

Second Half Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Jul - Dec, 2024 Prev	470,945	10,693	10,227	7,197	40.3	25	Aug 2, 2024	IFRS
Jul - Dec, 2024 New	476,545	12,393	12,127	7,697	43.1	28	Nov 6, 2024	IFRS
Revision Rate	+1.2%	+15.9%	+18.6%	+6.9%	+7.0%

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Dec, 2024 Prev	882,400	11,900	11,100	6,900	38.6	50	Feb 14, 2024	IFRS
Dec, 2024 New	888,000	13,600	13,000	7,400	41.4	53	Nov 6, 2024	IFRS
Revision Rate	+0.6%	+14.3%	+17.1%	+7.2%	+7.3%

Current Period Guidance

Second Half Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Jul - Dec, 2023	464,472	9,970	9,804	5,818	32.4	25	Feb 14, 2024	IFRS
Jul - Dec, 2024 Guidance	476,545	12,393	12,127	7,697	43.1	28	Nov 6, 2024	IFRS
YoY	+2.6%	+24.3%	+23.7%	+32.3%	+32.8%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Dec, 2022	807,430	-11,513	-12,491	-8,070	-45.0	50	Feb 9, 2023	IFRS
Dec, 2023	868,581	3,441	3,224	1,871	10.4	50	Feb 14, 2024	IFRS
Dec, 2024 Guidance	888,000	13,600	13,000	7,400	41.4	53	Nov 6, 2024	IFRS
YoY	+2.2%	+295.2%	+303.2%	+295.5%	+297.1%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	259,716	12,650	12,527	7,809	43.5	4.9	Nov 9, 2023	IFRS
Oct - Dec, 2023	204,756	-2,680	-2,723	-1,991	-11.1	-1.3	Feb 14, 2024	IFRS
Jan - Mar, 2024	186,528	-3,070	-3,342	-2,897	-16.1	-1.6	May 8, 2024	IFRS
Apr - Jun, 2024	224,927	4,277	4,215	2,600	14.4	1.9	Aug 2, 2024	IFRS
Jul - Sep, 2024	265,157	16,385	16,365	10,314	57.4	6.2	Nov 6, 2024	IFRS
YoY	+2.1%	+29.5%	+30.6%	+32.1%	+32.0%