BP Castrol K.K., July-September (3Q) Ordinary Profit Decreases by 24%

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Thu Nov 7, 2024 12:00 pm JST Earnings

5015 BP Castrol K.K. 【J-GAAP】

Earnings Report

BP Castrol K.K. <5015> [TSE-S] announced its financial results at noon (12:00) on November 7th. The ordinary profit (non-consolidated) for the cumulative third quarter of the fiscal year ending December 2024 (January to September) increased by 16.3% from the same period last year, reaching 1.02 billion yen. However, The progress rate against the 1.42 billion yen full-year plan was 72.1%, also falling below the five-year average of 76.2%.

Based on the third-quarter cumulative performance announced by the company and the unchanged full-year plan, our calculation indicates that the ordinary profit for the October to December period (4Q) is expected to expand by 38.8% from the same period last year, reaching 397 million yen.

In the most recent three-month period, from July to September (3Q), the ordinary profit decreased to 200 million yen, a 24.2% decrease compared to the same period last year. The operating profit margin drastically worsened from 8.5% in the same period last year to 4.9%.

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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	8,073	814	853	527	23.0	90.6	Nov 4, 2022	J-GAAP
Jan - Sep, 2023	8,699	842	882	584	25.5	75.5	Nov 6, 2023	J-GAAP
Jan - Sep, 2024	9,602	964	1,026	687	29.9	72.1	Nov 7, 2024	J-GAAP
YoY	+10.4%	+14.5%	+16.3%	+17.6%	+17.5%

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	6,272	515	550	371	16.2	20	Feb 9, 2024	J-GAAP
Jul - Dec, 2024 Guidance	7,170	554	597	398	17.3	23	Aug 14, 2024	J-GAAP
YoY	+14.3%	+7.6%	+8.5%	+7.3%	+7.2%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Dec, 2022	11,188	869	941	572	24.9	46	Feb 9, 2023	J-GAAP
Dec, 2023	12,037	1,108	1,168	781	34.0	36	Feb 9, 2024	J-GAAP
Dec, 2024 Guidance	13,363	1,352	1,423	950	41.4	42	Feb 9, 2024	J-GAAP
YoY	+11.0%	+22.0%	+21.8%	+21.6%	+21.6%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	2,934	249	264	174	7.6	8.5	Nov 6, 2023	J-GAAP
Oct - Dec, 2023	3,338	266	286	197	8.6	8.0	Feb 9, 2024	J-GAAP
Jan - Mar, 2024	2,813	421	434	289	12.6	15.0	May 9, 2024	J-GAAP
Apr - Jun, 2024	3,380	377	392	263	11.5	11.2	Aug 14, 2024	J-GAAP
Jul - Sep, 2024	3,409	166	200	135	5.9	4.9	Nov 7, 2024	J-GAAP
YoY	+16.2%	-33.3%	-24.2%	-22.4%	-22.5%