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

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%.

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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 14,734 -160 -70 -84 -3.8 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%

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