Howa Machinery, Ltd., First Half Ordinary Profit Increases by 2.9 times, July-September Ordinary Profit Increases by 3.9 times

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Fri Nov 8, 2024 1:40 pm JST Earnings

6203 Howa Machinery, Ltd. 【J-GAAP】

Earnings Report

Howa Machinery, Ltd. <6203> [TSE-S] announced its financial results in the afternoon session on November 8th (13:40). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) surged by 2.9 times that of the same period last year, reaching 750 million yen. The progress rate against the 790 million yen full-year plan was 94.9%, also surpassing the five-year average of 48.8%.

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 significant drop by 80.8% from the same period last year to 40 million yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit surged to 3.9 times that of the same period last year, reaching 486 million yen. The operating profit margin drastically improved from 2.3% in the same period last year to 8.3%.

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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	8,995	247	432	384	31.9	69.5	Nov 14, 2022	J-GAAP
Apr - Sep, 2023	9,971	166	258	211	17.5	55.4	Nov 6, 2023	J-GAAP
Apr - Sep, 2024	10,713	638	750	547	45.4	94.9	Nov 8, 2024	J-GAAP
YoY	+7.4%	+284.3%	+190.7%	+159.2%	+159.5%

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	－	0	May 15, 2024	J-GAAP
Apr - Sep, 2024 Results	10,713	638	750	547	45.4	0	Nov 8, 2024	J-GAAP
Revision Rate	－	－	－	－	－

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	9,815	222	208	-1,084	-90.0	20	May 15, 2024	J-GAAP
Oct - Mar, 2024 Guidance	13,387	122	40	133	11.0	20	Nov 8, 2024	J-GAAP
YoY	+36.4%	-45.0%	-80.8%	－	－

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	19,738	452	622	524	43.6	20	May 15, 2023	J-GAAP
Mar, 2024	19,786	388	466	-873	-72.5	20	May 15, 2024	J-GAAP
Mar, 2025 Guidance	24,100	760	790	680	56.4	20	May 15, 2024	J-GAAP
YoY	+21.8%	+95.9%	+69.5%	－	－

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	5,361	123	125	107	8.9	2.3	Nov 6, 2023	J-GAAP
Oct - Dec, 2023	4,452	30	12	1	0.1	0.7	Feb 14, 2024	J-GAAP
Jan - Mar, 2024	5,363	192	196	-1,085	-90.1	3.6	May 15, 2024	J-GAAP
Apr - Jun, 2024	4,558	128	264	201	16.7	2.8	Aug 9, 2024	J-GAAP
Jul - Sep, 2024	6,155	510	486	346	28.7	8.3	Nov 8, 2024	J-GAAP
YoY	+14.8%	+314.6%	+288.8%	+223.4%	+223.6%