Azbil Corporation, The Current Fiscal Year Ordinary Profit Revised Upward by 3%, Adds to Record High Profit Forecast

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Fri Nov 8, 2024 3:30 pm JST Earnings

6845 Azbil Corporation 【J-GAAP】

Earnings Report

Azbil Corporation <6845> [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) was 14.6 billion yen, a 2.5% increase compared to the same period last year, resulting in an increase in profits compared to the previous forecast of a 17.6% decrease.

In addition, the full-year consolidated ordinary profit has been revised upward by 2.6%, from the previous forecast of 39 billion yen to 40 billion yen (compared to 38.9 billion yen in the previous period), increasing the growth rate from 0.003% to 2.6%, further surpassing the previous forecast of record-high profits for four consecutive terms.

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 grow by 2.6% from the same period last year, reaching 25.3 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit decreased to 7.77 billion yen, a 9.9% decrease compared to the same period last year. However, the operating profit margin rose from 11.8% in the same period last year to 12.0%.

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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	121,006	8,181	9,836	6,050	11.2	30.6	Nov 8, 2022	J-GAAP
Apr - Sep, 2023	131,885	12,980	14,314	11,937	22.5	36.7	Nov 7, 2023	J-GAAP
Apr - Sep, 2024	139,252	14,640	14,667	10,944	20.7	36.7	Nov 8, 2024	J-GAAP
YoY	+5.6%	+12.8%	+2.5%	-8.3%	-7.7%

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	134,000	11,600	11,800	9,000	17.1	11	May 13, 2024	J-GAAP
Apr - Sep, 2024 Results	139,252	14,640	14,667	10,944	20.7	11	Nov 8, 2024	J-GAAP
Revision Rate	+3.9%	+26.2%	+24.3%	+21.6%	+21.6%

Guidance Update

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	300,000	39,000	39,000	37,000	70.8	22	Oct 15, 2024	J-GAAP
Mar, 2025 New	301,000	40,200	40,000	38,000	72.8	22	Nov 8, 2024	J-GAAP
Revision Rate	+0.3%	+3.1%	+2.6%	+2.7%	+2.7%

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	159,053	23,861	24,685	18,270	34.5	9.87	May 13, 2024	J-GAAP
Oct - Mar, 2024 Guidance	161,748	25,560	25,333	27,056	51.8	11	Nov 8, 2024	J-GAAP
YoY	+1.7%	+7.1%	+2.6%	+48.1%	+50.0%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	278,406	31,251	32,140	22,602	42.1	16.50	May 12, 2023	J-GAAP
Mar, 2024	290,938	36,841	38,999	30,207	57.1	19	May 13, 2024	J-GAAP
Mar, 2025 Guidance	301,000	40,200	40,000	38,000	72.8	22	Nov 8, 2024	J-GAAP
YoY	+3.5%	+9.1%	+2.6%	+25.8%	+27.4%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	70,680	8,331	8,631	8,227	15.5	11.8	Nov 7, 2023	J-GAAP
Oct - Dec, 2023	73,468	10,230	10,200	7,234	13.7	13.9	Feb 8, 2024	J-GAAP
Jan - Mar, 2024	85,585	13,631	14,485	11,036	20.9	15.9	May 13, 2024	J-GAAP
Apr - Jun, 2024	65,547	5,782	6,891	4,880	9.3	8.8	Aug 7, 2024	J-GAAP
Jul - Sep, 2024	73,705	8,858	7,776	6,064	11.5	12.0	Nov 8, 2024	J-GAAP
YoY	+4.3%	+6.3%	-9.9%	-26.3%	-25.8%