ASAHI CONCRETE WORKS CO.,LTD., First Half Ordinary Profit Unexpectedly Revised Upward by 37%

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Fri Nov 8, 2024 1:00 pm JST Earnings

5268 ASAHI CONCRETE WORKS CO.,LTD. 【J-GAAP】

Earnings Report

ASAHI CONCRETE WORKS CO.,LTD. <5268> [TSE-S] announced its financial results in the afternoon session on November 8th (13:00). The ordinary profit (non-consolidated) for the cumulative second quarter of the fiscal year ending March 2025 (April to September) expanded to 403 million yen, an increase of 36.6% compared to the same period last year, resulting in an increase in profits compared to the previous forecast of a 25.4% decrease.

The progress rate against the 480 million yen full-year plan was 84.0%, also surpassing the five-year average of 38.1%.

Based on the first-half performance announced by the company and the unchanged full-year plan, our calculation indicates that the ordinary profit for the October to March period (second half) is expected to significant drop by 55.2% from the same period last year to 77 million yen.

In the most recent three-month period, from July to September (2Q), the ordinary profit grew by 11.5% from the same period last year, reaching 223 million yen. The operating profit margin rose from 10.9% in the same period last year to 13.1%.

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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	3,001	137	192	139	10.6	44.7	Nov 9, 2022	J-GAAP
Apr - Sep, 2023	3,257	239	295	229	17.4	63.2	Nov 8, 2023	J-GAAP
Apr - Sep, 2024	3,288	348	403	279	21.2	84.0	Nov 8, 2024	J-GAAP
YoY	+1.0%	+45.6%	+36.6%	+21.8%	+21.8%

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	3,300	170	220	150	11.4	－	May 10, 2024	J-GAAP
Apr - Sep, 2024 Results	3,288	348	403	279	21.2	－	Nov 8, 2024	J-GAAP
Revision Rate	-0.4%	+104.7%	+83.2%	+86.0%	+86.1%

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	3,814	173	172	108	8.2	18	May 10, 2024	J-GAAP
Oct - Mar, 2024 Guidance	3,912	72	77	41	3.1	14	Nov 8, 2024	J-GAAP
YoY	+2.6%	-58.4%	-55.2%	-62.0%	-62.1%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	6,584	345	430	311	23.7	13	May 12, 2023	J-GAAP
Mar, 2024	7,071	412	467	337	25.7	18	May 10, 2024	J-GAAP
Mar, 2025 Guidance	7,200	420	480	320	24.3	14	May 10, 2024	J-GAAP
YoY	+1.8%	+1.9%	+2.8%	-5.0%	-5.3%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	1,835	200	200	169	12.9	10.9	Nov 8, 2023	J-GAAP
Oct - Dec, 2023	1,727	77	94	59	4.5	4.5	Feb 9, 2024	J-GAAP
Jan - Mar, 2024	2,087	96	78	49	3.7	4.6	May 10, 2024	J-GAAP
Apr - Jun, 2024	1,576	123	180	132	10.0	7.8	Aug 9, 2024	J-GAAP
Jul - Sep, 2024	1,712	225	223	147	11.2	13.1	Nov 8, 2024	J-GAAP
YoY	-6.7%	+12.5%	+11.5%	-13.0%	-13.1%