Kao Corporation, January-September (Third Quarter Cumulative) Net Income Increases by 2.2 times, July-September Net Income Increases by 73%

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Thu Nov 7, 2024 3:30 pm JST Earnings

4452 Kao Corporation 【IFRS】

Earnings Report

Kao Corporation <4452> [TSE-P] announced its financial results (based on IFRS) after the market closed on November 7th (15:30). The consolidated net income for the cumulative third quarter of the fiscal year ending December 2024 (January to September) surged by 2.2 times that of the same period last year, reaching 71 billion yen. However, The progress rate against the 104 billion yen full-year plan was 68.3%, also falling below the five-year average of 71.0%.

Based on the third-quarter cumulative performance announced by the company and the unchanged full-year plan, our calculation indicates that the consolidated net income for the October to December period (4Q) is expected to surge by 2.9 times that of the same period last year, reaching 32.9 billion yen.

In the most recent three-month period, from July to September (3Q), the consolidated net income increased by 73.5% from the same period last year, reaching 27.6 billion yen. The operating profit margin significantly improved from 6.4% in the same period last year to 10.7%.

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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	1,127,710	76,917	85,095	58,320	123.8	73.5	Nov 1, 2022	IFRS
Jan - Sep, 2023	1,125,883	50,705	54,582	32,542	70.0	85.5	Nov 8, 2023	IFRS
Jan - Sep, 2024	1,190,011	101,055	104,016	71,027	152.9	70.8	Nov 7, 2024	IFRS
YoY	+5.7%	+99.3%	+90.6%	+118.3%	+118.3%

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	794,051	34,135	35,203	27,246	58.6	75	Feb 7, 2024	IFRS
Jul - Dec, 2024 Guidance	812,013	82,061	82,592	60,587	130.4	76	Aug 8, 2024	IFRS
YoY	+2.3%	+140.4%	+134.6%	+122.4%	+122.6%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Dec, 2022	1,551,059	110,071	115,848	86,038	183.3	148	Feb 2, 2023	IFRS
Dec, 2023	1,532,579	60,035	63,842	43,870	94.4	150	Feb 7, 2024	IFRS
Dec, 2024 Guidance	1,600,000	140,000	147,000	104,000	223.9	152	Aug 8, 2024	IFRS
YoY	+4.4%	+133.2%	+130.3%	+137.1%	+137.3%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	387,355	24,805	25,943	15,918	34.3	6.4	Nov 8, 2023	IFRS
Oct - Dec, 2023	406,696	9,330	9,260	11,328	24.4	2.3	Feb 7, 2024	IFRS
Jan - Mar, 2024	365,797	21,984	24,764	16,470	35.4	6.0	May 9, 2024	IFRS
Apr - Jun, 2024	422,190	35,955	39,644	26,943	58.0	8.5	Aug 8, 2024	IFRS
Jul - Sep, 2024	402,024	43,116	39,608	27,614	59.4	10.7	Nov 7, 2024	IFRS
YoY	+3.8%	+73.8%	+52.7%	+73.5%	+73.5%