Central Glass Co.,Ltd., First Half Ordinary Profit Decreases by 18%, July-September Ordinary Profit Decreases by 60%

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Wed Nov 6, 2024 4:00 pm JST Earnings

4044 Central Glass Co.,Ltd. 【J-GAAP】

Earnings Report

Central Glass Co.,Ltd. <4044> [TSE-P] announced its financial results after the market closed on November 6th (16:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) decreased by 18.0% from the same period last year to 5.17 billion yen. The progress rate against the 12.5 billion yen full-year plan was 41.4%, almost the same as the five-year average of 43.5%.

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 26.5% from the same period last year to 7.32 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit significantly dropped to 983 million yen, a 60.2% decrease compared to the same period last year. The operating profit margin worsened from 7.9% in the same period last year to 5.4%.

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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	78,268	7,426	10,625	16,863	421.7	54.1	Nov 1, 2022	J-GAAP
Apr - Sep, 2023	79,115	6,010	6,305	5,672	228.9	38.8	Nov 6, 2023	J-GAAP
Apr - Sep, 2024	68,036	4,746	5,173	2,782	112.3	41.4	Nov 6, 2024	J-GAAP
YoY	-14.0%	-21.0%	-18.0%	-51.0%	-51.0%

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	72,000	4,000	4,500	3,500	141.2	85	May 10, 2024	J-GAAP
Apr - Sep, 2024 Results	68,036	4,746	5,173	2,782	112.3	85	Nov 6, 2024	J-GAAP
Revision Rate	-5.5%	+18.7%	+15.0%	-20.5%	-20.5%

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	81,224	8,516	9,964	6,806	274.7	101.50	May 10, 2024	J-GAAP
Oct - Mar, 2024 Guidance	87,964	6,254	7,327	7,218	291.2	85	Nov 6, 2024	J-GAAP
YoY	+8.3%	-26.6%	-26.5%	+6.1%	+6.0%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	169,309	16,757	19,637	42,494	1,222.2	115	May 11, 2023	J-GAAP
Mar, 2024	160,339	14,526	16,269	12,478	503.6	159	May 10, 2024	J-GAAP
Mar, 2025 Guidance	156,000	11,000	12,500	10,000	403.5	170	May 10, 2024	J-GAAP
YoY	-2.7%	-24.3%	-23.2%	-19.9%	-19.9%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	40,105	3,165	2,468	2,841	114.7	7.9	Nov 6, 2023	J-GAAP
Oct - Dec, 2023	41,754	4,548	4,566	3,628	146.4	10.9	Feb 5, 2024	J-GAAP
Jan - Mar, 2024	39,470	3,968	5,398	3,178	128.3	10.1	May 10, 2024	J-GAAP
Apr - Jun, 2024	34,830	2,940	4,190	3,012	121.6	8.4	Aug 8, 2024	J-GAAP
Jul - Sep, 2024	33,206	1,806	983	-230	-9.3	5.4	Nov 6, 2024	J-GAAP
YoY	-17.2%	-42.9%	-60.2%	－	－