MOLITEC STEEL CO.,LTD., First Half Ordinary Profit Decreases by 68%

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Fri Nov 8, 2024 2:00 pm JST Earnings

5986 MOLITEC STEEL CO.,LTD. 【J-GAAP】

Earnings Report

MOLITEC STEEL CO.,LTD. <5986> [TSE-S] announced its financial results in the afternoon session on November 8th (14:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) significantly dropped by 68.2% from the same period last year to 54 million yen, fell short of the previous forecast of 75 million yen.

The progress rate against the 300 million yen full-year plan was 18.0%, also falling below the five-year average of 73.1%.

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 9.2% from the same period last year to 246 million yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit/loss turned to a loss of 83 million yen (compared to a profit of 112 million yen in the same period last year). The operating profit margin worsened from 0.7% in the same period last year to 0.4%.

Kabutan News

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	14,734	-160	-70	-84	-3.8	ー	Nov 11, 2022	J-GAAP
Apr - Sep, 2023	25,354	53	170	62	2.8	38.5	Nov 10, 2023	J-GAAP
Apr - Sep, 2024	25,067	57	54	87	3.9	18.0	Nov 8, 2024	J-GAAP
YoY	-1.1%	+7.5%	-68.2%	+40.3%	+40.5%

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	24,500	10	75	100	4.5	－	May 13, 2024	J-GAAP
Apr - Sep, 2024 Results	25,067	57	54	87	3.9	－	Nov 8, 2024	J-GAAP
Revision Rate	+2.3%	+470.0%	-28.0%	-13.0%	-12.1%

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	25,420	207	271	250	11.2	4	May 13, 2024	J-GAAP
Oct - Mar, 2024 Guidance	25,933	143	246	163	7.3	4	Nov 8, 2024	J-GAAP
YoY	+2.0%	-30.9%	-9.2%	-34.8%	-34.8%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	36,334	-75	-4	-704	-31.5	3	May 12, 2023	J-GAAP
Mar, 2024	50,774	260	441	312	13.9	4	May 13, 2024	J-GAAP
Mar, 2025 Guidance	51,000	200	300	250	11.2	4	May 13, 2024	J-GAAP
YoY	+0.4%	-23.1%	-32.0%	-19.9%	-19.9%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	12,600	90	112	48	2.2	0.7	Nov 10, 2023	J-GAAP
Oct - Dec, 2023	12,477	-29	-30	-23	-1.0	-0.2	Feb 9, 2024	J-GAAP
Jan - Mar, 2024	12,943	236	301	273	12.2	1.8	May 13, 2024	J-GAAP
Apr - Jun, 2024	12,514	9	137	60	2.7	0.1	Aug 9, 2024	J-GAAP
Jul - Sep, 2024	12,553	48	-83	27	1.2	0.4	Nov 8, 2024	J-GAAP
YoY	-0.4%	-46.7%	－	-43.8%	-43.5%