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Kuribayashi Steamship Co.,Ltd., First Half Ordinary Profit Increases by 87%

Fri Nov 8, 2024 2:00 pm JST Earnings

9171 Kuribayashi Steamship Co.,Ltd. 【J-GAAP】

Earnings Report

Kuribayashi Steamship Co.,Ltd. <9171> [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) expanded to 1.61 billion yen, an increase of 87.4% compared to the same period last year, exceeded the previous forecast of 1.1 billion yen.

The progress rate against the 2.4 billion yen full-year plan was 67.1%, also surpassing the five-year average of 55.7%.

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 drop by 34.3% from the same period last year to 790 million yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit increased by 44.2% from the same period last year, reaching 1.02 billion yen. The operating profit margin improved from 5.4% in the same period last year to 7.4%.

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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 24,987 1,069 1,312 916 72.1 54.0 Nov 11, 2022 J-GAAP
Apr - Sep, 2023 24,247 610 859 526 41.5 41.7 Nov 13, 2023 J-GAAP
Apr - Sep, 2024 26,618 1,398 1,610 979 77.5 67.1 Nov 8, 2024 J-GAAP
YoY +9.8% +129.2% +87.4% +86.1% +86.9%

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 25,500 900 1,100 600 47.7 0 Aug 9, 2024 J-GAAP
Apr - Sep, 2024 Results 26,618 1,398 1,610 979 77.5 0 Nov 8, 2024 J-GAAP
Revision Rate +4.4% +55.3% +46.4% +63.2% +62.5%

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 24,638 923 1,202 1,147 90.4 12 May 10, 2024 J-GAAP
Oct - Mar, 2024 Guidance 24,382 402 790 421 33.8 12 Nov 8, 2024 J-GAAP
YoY -1.0% -56.4% -34.3% -63.3% -62.7%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 49,854 2,060 2,431 1,835 144.3 12 May 12, 2023 J-GAAP
Mar, 2024 48,885 1,533 2,061 1,673 131.9 12 May 10, 2024 J-GAAP
Mar, 2025 Guidance 51,000 1,800 2,400 1,400 112.3 12 Aug 9, 2024 J-GAAP
YoY +4.3% +17.4% +16.4% -16.3% -14.9%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 12,464 670 712 493 38.9 5.4 Nov 13, 2023 J-GAAP
Oct - Dec, 2023 12,897 907 1,065 795 62.6 7.0 Feb 9, 2024 J-GAAP
Jan - Mar, 2024 11,741 16 137 352 27.8 0.1 May 10, 2024 J-GAAP
Apr - Jun, 2024 12,802 377 583 323 25.5 2.9 Aug 9, 2024 J-GAAP
Jul - Sep, 2024 13,816 1,021 1,027 656 51.9 7.4 Nov 8, 2024 J-GAAP
YoY +10.8% +52.4% +44.2% +33.1% +33.6%

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