Mazda Motor Corporation, The Current Fiscal Year Ordinary Profit Revised Downward by 14%, The Undetermined Dividend Set at 55 yen

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Thu Nov 7, 2024 12:00 pm JST Earnings

7261 Mazda Motor Corporation 【J-GAAP】

Earnings Report

Mazda Motor Corporation <7261> [TSE-P] announced its financial results at noon (12:00) on November 7th. The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) significantly dropped by 53.4% from the same period last year to 83.5 billion yen.

In addition, the full-year consolidated ordinary profit has downwardly by 13.6%, from the previous forecast of 220 billion yen to 190 billion yen (compared to 320 billion yen in the previous period), leading to an increase in the profit decline rate from 31.3% to 40.6%.

Based on the first-half performance announced by the company and the full-year plan, our calculation indicates that the consolidated ordinary profit for the October to March period (second half) is expected to decrease by 24.4% from the same period last year to 106 billion yen.

Due to a decline in performance, the company has decided to implement a annual dividend of 55 yen for the current fiscal year, which was previously undecided (compared to 60 yen in the prior term).

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit significantly dropped to 3.24 billion yen, a 97.2% decrease compared to the same period last year. The operating profit margin drastically worsened from 8.1% in the same period last year to 4.4%.

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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	1,642,506	55,241	110,360	85,859	136.3	59.4	Nov 10, 2022	J-GAAP
Apr - Sep, 2023	2,317,259	129,611	179,235	108,132	171.6	56.0	Nov 7, 2023	J-GAAP
Apr - Sep, 2024	2,393,919	103,048	83,513	35,334	56.1	44.0	Nov 7, 2024	J-GAAP
YoY	+3.3%	-20.5%	-53.4%	-67.3%	-67.3%

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	ー	ー	ー	ー	－	25	May 10, 2024	J-GAAP
Apr - Sep, 2024 Results	2,393,919	103,048	83,513	35,334	56.1	25	Nov 7, 2024	J-GAAP
Revision Rate	－	－	－	－	－

Guidance Update

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	5,350,000	270,000	220,000	150,000	238.0	－	May 10, 2024	J-GAAP
Mar, 2025 New	5,000,000	200,000	190,000	140,000	222.1	55	Nov 7, 2024	J-GAAP
Revision Rate	-6.5%	-25.9%	-13.6%	-6.7%	-6.7%

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	2,510,403	120,892	140,885	99,564	158.0	35	May 10, 2024	J-GAAP
Oct - Mar, 2024 Guidance	2,606,081	96,952	106,487	104,666	166.1	30	Nov 7, 2024	J-GAAP
YoY	+3.8%	-19.8%	-24.4%	+5.1%	+5.1%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	3,826,752	141,969	185,936	142,814	226.7	45	May 12, 2023	J-GAAP
Mar, 2024	4,827,662	250,503	320,120	207,696	329.7	60	May 10, 2024	J-GAAP
Mar, 2025 Guidance	5,000,000	200,000	190,000	140,000	222.1	55	Nov 7, 2024	J-GAAP
YoY	+3.6%	-20.2%	-40.6%	-32.6%	-32.6%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	1,226,288	99,586	115,313	70,890	112.5	8.1	Nov 7, 2023	J-GAAP
Oct - Dec, 2023	1,249,229	70,591	59,763	57,360	91.0	5.7	Feb 9, 2024	J-GAAP
Jan - Mar, 2024	1,261,174	50,301	81,122	42,204	67.0	4.0	May 10, 2024	J-GAAP
Apr - Jun, 2024	1,205,563	50,360	80,267	49,814	79.1	4.2	Aug 7, 2024	J-GAAP
Jul - Sep, 2024	1,188,356	52,688	3,246	-14,480	-23.0	4.4	Nov 7, 2024	J-GAAP
YoY	-3.1%	-47.1%	-97.2%	－	－