NIPPON COKE & ENGINEERING CO., LTD., The Current Fiscal Year Ordinary Profit Revised Downward by 27%

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Fri Nov 8, 2024 2:00 pm JST Earnings

3315 NIPPON COKE & ENGINEERING CO., LTD. 【J-GAAP】

Earnings Report

NIPPON COKE & ENGINEERING CO., LTD. <3315> [TSE-P] announced its financial results in the afternoon session on November 8th (14:00). The consolidated ordinary profit/loss for the cumulative second quarter of the fiscal year ending March 2025 (April to September) turned into a loss of 2.71 billion yen (compared to a profit of 2.5 billion yen in the same period last year).

In addition, the full-year consolidated ordinary profit has downwardly by 27.3%, from the previous forecast of 3.3 billion yen to 2.4 billion yen (compared to 3.64 billion yen in the previous period), leading to an increase in the profit decline rate from 9.3% to 34.1%.

Based on the first-half performance announced by the company and the full-year plan, our calculation indicates that the consolidated ordinary profit for the October to March period (second half) is expected to surge by 4.5 times that of the same period last year, reaching 5.11 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit/loss turned to a loss of 1.94 billion yen (compared to a profit of 1.97 billion yen in the same period last year). The operating profit/loss margin drastically worsened from 5.5% in the same period last year to -8.0%.

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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	94,195	-2,198	-3,727	-2,676	-9.2	ー	Nov 11, 2022	J-GAAP
Apr - Sep, 2023	76,688	2,895	2,502	1,329	4.6	68.7	Nov 10, 2023	J-GAAP
Apr - Sep, 2024	47,668	-2,113	-2,716	-2,227	-7.7	ー	Nov 8, 2024	J-GAAP
YoY	-37.8%	－	－	－	－

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	56,400	-1,800	-2,600	-2,500	-8.6	－	Aug 8, 2024	J-GAAP
Apr - Sep, 2024 Results	47,668	-2,113	-2,716	-2,227	-7.7	0	Nov 8, 2024	J-GAAP
Revision Rate	-15.5%	-17.4%	-4.5%	+10.9%	+10.9%

Guidance Update

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	139,600	4,400	3,300	1,400	4.8	－	Aug 8, 2024	J-GAAP
Mar, 2025 New	118,700	3,400	2,400	900	3.1	－	Nov 8, 2024	J-GAAP
Revision Rate	-15.0%	-22.7%	-27.3%	-35.7%	-35.8%

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	58,464	1,495	1,138	569	2.0	3	May 10, 2024	J-GAAP
Oct - Mar, 2024 Guidance	71,032	5,513	5,116	3,127	10.7	－	Nov 8, 2024	J-GAAP
YoY	+21.5%	+268.8%	+349.6%	+449.6%	+450.8%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	174,062	-397	-752	-1,075	-3.7	0	May 12, 2023	J-GAAP
Mar, 2024	135,152	4,390	3,640	1,898	6.5	3	May 10, 2024	J-GAAP
Mar, 2025 Guidance	118,700	3,400	2,400	900	3.1	－	Nov 8, 2024	J-GAAP
YoY	-12.2%	-22.6%	-34.1%	-52.6%	-52.6%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	38,481	2,107	1,979	951	3.3	5.5	Nov 10, 2023	J-GAAP
Oct - Dec, 2023	29,468	-426	-464	-326	-1.1	-1.4	Feb 9, 2024	J-GAAP
Jan - Mar, 2024	28,996	1,921	1,602	895	3.1	6.6	May 10, 2024	J-GAAP
Apr - Jun, 2024	25,765	-357	-774	-720	-2.5	-1.4	Aug 8, 2024	J-GAAP
Jul - Sep, 2024	21,903	-1,756	-1,942	-1,507	-5.2	-8.0	Nov 8, 2024	J-GAAP
YoY	-43.1%	－	－	－	－