Mitsubishi Materials Corporation, July-September (2Q) Ordinary Profit Decreases by 45%

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Fri Nov 8, 2024 3:30 pm JST Earnings

5711 Mitsubishi Materials Corporation 【J-GAAP】

Earnings Report

Mitsubishi Materials Corporation <5711> [TSE-P] announced its financial results after the market closed on November 8th (15:30). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) expanded to 24.9 billion yen, an increase of 35.3% compared to the same period last year. However, The progress rate against the 63 billion yen full-year plan was 39.5%, also falling below the five-year average of 53.4%.

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 grow by 6.7% from the same period last year, reaching 38 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit dropped to 6.28 billion yen, a 45.0% decrease compared to the same period last year. However, the operating profit margin improved from 2.3% in the same period last year to 3.1%.

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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	831,981	29,560	23,025	23,624	180.8	91.0	Nov 10, 2022	J-GAAP
Apr - Sep, 2023	716,199	11,950	18,418	11,120	85.1	34.0	Nov 9, 2023	J-GAAP
Apr - Sep, 2024	989,592	27,581	24,915	24,669	188.8	39.5	Nov 8, 2024	J-GAAP
YoY	+38.2%	+130.8%	+35.3%	+121.8%	+121.8%

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	ー	ー	ー	ー	－	50	May 14, 2024	J-GAAP
Apr - Sep, 2024 Results	989,592	27,581	24,915	24,669	188.8	50	Nov 8, 2024	J-GAAP
Revision Rate	－	－	－	－	－

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	824,443	11,326	35,684	18,673	142.9	47	May 14, 2024	J-GAAP
Oct - Mar, 2024 Guidance	960,408	13,419	38,085	20,331	155.6	50	Nov 8, 2024	J-GAAP
YoY	+16.5%	+18.5%	+6.7%	+8.9%	+8.9%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	1,625,933	50,076	25,306	20,330	155.6	50	May 12, 2023	J-GAAP
Mar, 2024	1,540,642	23,276	54,102	29,793	228.1	94	May 14, 2024	J-GAAP
Mar, 2025 Guidance	1,950,000	41,000	63,000	45,000	344.4	100	May 14, 2024	J-GAAP
YoY	+26.6%	+76.1%	+16.4%	+51.0%	+51.0%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	353,539	8,159	11,436	6,202	47.5	2.3	Nov 9, 2023	J-GAAP
Oct - Dec, 2023	365,386	3,460	25,233	13,480	103.2	0.9	Feb 9, 2024	J-GAAP
Jan - Mar, 2024	459,057	7,866	10,451	5,193	39.8	1.7	May 14, 2024	J-GAAP
Apr - Jun, 2024	513,701	12,810	18,627	20,954	160.4	2.5	Aug 7, 2024	J-GAAP
Jul - Sep, 2024	475,891	14,771	6,288	3,715	28.4	3.1	Nov 8, 2024	J-GAAP
YoY	+34.6%	+81.0%	-45.0%	-40.1%	-40.1%