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KHC Ltd., First Half Ordinary Profit Decreases by 49%, July-September Ordinary Profit Decreases by 45%

Fri Nov 8, 2024 3:30 pm JST Earnings

1451 KHC Ltd. 【J-GAAP】

Earnings Report

KHC Ltd. <1451> [TSE-S] 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) dropped by 49.3% from the same period last year to 152 million yen. The progress rate against the 486 million yen full-year plan was 31.3%, also falling below the five-year average of 38.3%.

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 expand by 44.0% from the same period last year, reaching 334 million yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit dropped to 103 million yen, a 44.6% decrease compared to the same period last year. The operating profit margin worsened from 7.6% in the same period last year to 4.7%.

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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 4,881 215 191 120 30.3 34.8 Nov 7, 2022 J-GAAP
Apr - Sep, 2023 4,961 321 300 192 48.3 56.4 Nov 7, 2023 J-GAAP
Apr - Sep, 2024 4,552 181 152 87 21.9 31.3 Nov 8, 2024 J-GAAP
YoY -8.2% -43.6% -49.3% -54.7% -54.7%

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 0 Aug 26, 2024 J-GAAP
Apr - Sep, 2024 Results 4,552 181 152 87 21.9 0 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 5,101 253 232 163 40.9 20 May 8, 2024 J-GAAP
Oct - Mar, 2024 Guidance 6,703 369 334 229 57.1 0 Nov 8, 2024 J-GAAP
YoY +31.4% +45.8% +44.0% +40.5% +39.4%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 11,047 602 549 356 89.7 33 May 8, 2023 J-GAAP
Mar, 2024 10,062 574 532 355 89.2 35 May 8, 2024 J-GAAP
Mar, 2025 Guidance 11,255 550 486 316 78.8 0 Aug 26, 2024 J-GAAP
YoY +11.9% -4.2% -8.6% -11.0% -11.7%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 2,606 198 186 122 30.7 7.6 Nov 7, 2023 J-GAAP
Oct - Dec, 2023 2,512 133 125 81 20.4 5.3 Feb 9, 2024 J-GAAP
Jan - Mar, 2024 2,589 120 107 82 20.6 4.6 May 8, 2024 J-GAAP
Apr - Jun, 2024 2,089 65 49 32 8.1 3.1 Aug 7, 2024 J-GAAP
Jul - Sep, 2024 2,463 116 103 55 13.8 4.7 Nov 8, 2024 J-GAAP
YoY -5.5% -41.4% -44.6% -54.9% -54.9%

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