Nittetsu Mining CO.,Ltd., The Current Fiscal Year Ordinary Profit Revised Upward by 22%, Dividend Revised Upward by 20 yen

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Thu Nov 7, 2024 1:30 pm JST Earnings

1515 Nittetsu Mining CO.,Ltd. 【J-GAAP】

Earnings Report

Nittetsu Mining CO.,Ltd. <1515> [TSE-P] announced its financial results in the afternoon session on November 7th (13:30). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) decreased by 7.5% from the same period last year to 6.57 billion yen.

However, the full-year consolidated ordinary profit has been revised upward by 22.0%, from the previous forecast of 8.2 billion yen to 10 billion yen (compared to 12 billion yen in the previous period), and the declining rate is expected to decrease from 32.0% to 17.1%.

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 drop by 30.8% from the same period last year to 3.42 billion yen.

In light of the strong performance, the company has increased its planned annual dividend for the current fiscal year from the original plan of 161 yen to 181 yen (compared to 169 yen in the previous period).

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit dropped to 2.53 billion yen, a 32.6% decrease compared to the same period last year. The operating profit margin drastically worsened from 9.0% in the same period last year to 1.5%.

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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	81,048	9,077	9,616	5,595	336.3	72.8	Nov 4, 2022	J-GAAP
Apr - Sep, 2023	82,354	6,573	7,108	4,640	279.0	59.0	Nov 7, 2023	J-GAAP
Apr - Sep, 2024	95,291	5,337	6,575	5,727	344.3	65.8	Nov 7, 2024	J-GAAP
YoY	+15.7%	-18.8%	-7.5%	+23.4%	+23.4%

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	－	80	May 13, 2024	J-GAAP
Apr - Sep, 2024 Results	95,291	5,337	6,575	5,727	344.3	90	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	181,400	7,400	8,200	6,700	402.8	161	May 13, 2024	J-GAAP
Mar, 2025 New	190,000	8,500	10,000	7,500	450.8	181	Nov 7, 2024	J-GAAP
Revision Rate	+4.7%	+14.9%	+22.0%	+11.9%	+11.9%

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	84,530	4,604	4,948	1,962	118.0	85	May 13, 2024	J-GAAP
Oct - Mar, 2024 Guidance	94,709	3,163	3,425	1,773	106.6	91	Nov 7, 2024	J-GAAP
YoY	+12.0%	-31.3%	-30.8%	-9.6%	-9.6%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	164,020	13,632	13,204	9,780	587.9	177.50	May 12, 2023	J-GAAP
Mar, 2024	166,884	11,177	12,056	6,602	396.9	169	May 13, 2024	J-GAAP
Mar, 2025 Guidance	190,000	8,500	10,000	7,500	450.8	181	Nov 7, 2024	J-GAAP
YoY	+13.9%	-24.0%	-17.1%	+13.6%	+13.6%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	42,402	3,796	3,754	2,322	139.6	9.0	Nov 7, 2023	J-GAAP
Oct - Dec, 2023	42,178	2,354	2,732	1,807	108.6	5.6	Feb 6, 2024	J-GAAP
Jan - Mar, 2024	42,352	2,250	2,216	155	9.3	5.3	May 13, 2024	J-GAAP
Apr - Jun, 2024	46,934	4,607	4,044	4,213	253.3	9.8	Aug 6, 2024	J-GAAP
Jul - Sep, 2024	48,357	730	2,531	1,514	91.0	1.5	Nov 7, 2024	J-GAAP
YoY	+14.0%	-80.8%	-32.6%	-34.8%	-34.8%