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YAHAGI CONSTRUCTION CO.,LTD., First Half Ordinary Profit Decreases by 15%, July-September Ordinary Profit Decreases by 60%

Thu Nov 7, 2024 1:40 pm JST Earnings

1870 YAHAGI CONSTRUCTION CO.,LTD. 【J-GAAP】

Earnings Report

YAHAGI CONSTRUCTION CO.,LTD. <1870> [TSE-P] announced its financial results in the afternoon session on November 7th (13:40). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) decreased by 15.3% from the same period last year to 1.32 billion yen. The progress rate against the 8.2 billion yen full-year plan was 16.2%, also falling below the five-year average of 29.6%.

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 14.3% from the same period last year to 6.87 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit significantly dropped to 548 million yen, a 60.0% decrease compared to the same period last year. The operating profit margin drastically worsened from 4.9% in the same period last year to 1.7%.

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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 41,495 1,738 1,775 1,206 28.1 24.5 Nov 7, 2022 J-GAAP
Apr - Sep, 2023 52,158 1,487 1,564 1,017 23.7 16.3 Nov 8, 2023 J-GAAP
Apr - Sep, 2024 58,760 1,286 1,325 967 22.5 16.2 Nov 7, 2024 J-GAAP
YoY +12.7% -13.5% -15.3% -4.9% -4.9%

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 58,500 1,250 1,300 900 20.9 40 Oct 29, 2024 J-GAAP
Apr - Sep, 2024 Results 58,760 1,286 1,325 967 22.5 40 Nov 7, 2024 J-GAAP
Revision Rate +0.4% +2.9% +1.9% +7.4% +7.5%

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 67,666 8,027 8,024 5,445 126.6 30 May 9, 2024 J-GAAP
Oct - Mar, 2024 Guidance 81,240 6,914 6,875 4,433 103.0 40 Nov 7, 2024 J-GAAP
YoY +20.1% -13.9% -14.3% -18.6% -18.6%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 111,110 7,212 7,259 4,508 104.8 43 May 10, 2023 J-GAAP
Mar, 2024 119,824 9,514 9,588 6,462 150.2 60 May 9, 2024 J-GAAP
Mar, 2025 Guidance 140,000 8,200 8,200 5,400 125.5 80 May 9, 2024 J-GAAP
YoY +16.8% -13.8% -14.5% -16.4% -16.5%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 27,426 1,349 1,369 828 19.3 4.9 Nov 8, 2023 J-GAAP
Oct - Dec, 2023 38,663 7,554 7,591 5,241 121.8 19.5 Feb 9, 2024 J-GAAP
Jan - Mar, 2024 29,003 473 433 204 4.7 1.6 May 9, 2024 J-GAAP
Apr - Jun, 2024 26,635 726 777 584 13.6 2.7 Aug 8, 2024 J-GAAP
Jul - Sep, 2024 32,125 560 548 383 8.9 1.7 Nov 7, 2024 J-GAAP
YoY +17.1% -58.5% -60.0% -53.7% -53.7%

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