Yodogawa Steel Works,Ltd., First Half Ordinary Profit Increases by 20%

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Wed Nov 6, 2024 11:00 am JST Earnings

5451 Yodogawa Steel Works,Ltd. 【J-GAAP】

Earnings Report

Yodogawa Steel Works,Ltd. <5451> [TSE-P] announced its financial results in the morning on November 6th (11:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) increased by 19.5% from the same period last year, reaching 9.17 billion yen. However, The progress rate against the 19.2 billion yen full-year plan was 47.8%, almost the same as the five-year average of 48.0%.

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 expand by 33.2% from the same period last year, reaching 10 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit amounted to 4.05 billion yen, an increase of 2.9% compared to the same period last year. The operating profit margin improved from 5.1% in the same period last year to 7.1%.

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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	118,525	8,235	10,960	5,858	203.1	62.0	Nov 4, 2022	J-GAAP
Apr - Sep, 2023	101,286	5,472	7,672	5,185	179.6	50.5	Nov 6, 2023	J-GAAP
Apr - Sep, 2024	105,324	7,812	9,171	5,791	200.4	47.8	Nov 6, 2024	J-GAAP
YoY	+4.0%	+42.8%	+19.5%	+11.7%	+11.6%

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	106,000	7,400	8,800	5,300	183.4	100	Aug 9, 2024	J-GAAP
Apr - Sep, 2024 Results	105,324	7,812	9,171	5,791	200.4	100	Nov 6, 2024	J-GAAP
Revision Rate	-0.6%	+5.6%	+4.2%	+9.3%	+9.3%

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	102,671	6,545	7,530	-729	-25.2	145	May 10, 2024	J-GAAP
Oct - Mar, 2024 Guidance	101,676	4,288	10,029	6,109	211.4	209	Nov 6, 2024	J-GAAP
YoY	-1.0%	-34.5%	+33.2%	－	－

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	220,314	12,665	17,686	10,593	367.1	111	May 10, 2023	J-GAAP
Mar, 2024	203,957	12,017	15,202	4,456	154.3	200	May 10, 2024	J-GAAP
Mar, 2025 Guidance	207,000	12,100	19,200	11,900	411.7	309	Aug 9, 2024	J-GAAP
YoY	+1.5%	+0.7%	+26.3%	+167.1%	+166.8%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	50,224	2,579	3,938	3,168	109.7	5.1	Nov 6, 2023	J-GAAP
Oct - Dec, 2023	52,179	3,467	4,276	2,566	88.9	6.6	Feb 6, 2024	J-GAAP
Jan - Mar, 2024	50,492	3,078	3,254	-3,295	-114.1	6.1	May 10, 2024	J-GAAP
Apr - Jun, 2024	52,595	4,061	5,120	3,210	111.1	7.7	Aug 9, 2024	J-GAAP
Jul - Sep, 2024	52,729	3,751	4,051	2,581	89.3	7.1	Nov 6, 2024	J-GAAP
YoY	+5.0%	+45.4%	+2.9%	-18.5%	-18.6%