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

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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	33.5	12	Nov 8, 2024	J-GAAP
YoY	-1.0%	-56.4%	-34.3%	-63.3%	-63.0%

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	111.3	12	Aug 9, 2024	J-GAAP
YoY	+4.3%	+17.4%	+16.4%	-16.3%	-15.6%

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%