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Sumitomo Realty & Development Co.,Ltd., July-September (2Q) Ordinary Profit Decreases by 21%

Fri Nov 8, 2024 3:30 pm JST Earnings

8830 Sumitomo Realty & Development Co.,Ltd. 【J-GAAP】

Earnings Report

Sumitomo Realty & Development Co.,Ltd. <8830> [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) increased by 4.4% from the same period last year, reaching 156 billion yen. The progress rate against the 265 billion yen full-year plan was 58.9%, almost the same as the five-year average of 59.4%.

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 5.1% from the same period last year, reaching 108 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit decreased to 53.1 billion yen, a 21.3% decrease compared to the same period last year. The operating profit margin decreased from 28.4% in the same period last year to 25.8%.

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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 474,871 137,982 136,477 94,050 198.5 57.7 Nov 11, 2022 J-GAAP
Apr - Sep, 2023 505,243 149,775 149,588 105,924 223.5 59.1 Nov 10, 2023 J-GAAP
Apr - Sep, 2024 539,574 155,937 156,168 109,460 231.0 58.9 Nov 8, 2024 J-GAAP
YoY +6.8% +4.1% +4.4% +3.3% +3.3%

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 35 May 9, 2024 J-GAAP
Apr - Sep, 2024 Results 539,574 155,937 156,168 109,460 231.0 35 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 462,449 104,891 103,523 71,247 150.3 31 May 9, 2024 J-GAAP
Oct - Mar, 2024 Guidance 460,426 111,063 108,832 80,540 171.1 35 Nov 8, 2024 J-GAAP
YoY -0.4% +5.9% +5.1% +13.0% +13.8%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 939,904 241,274 236,651 161,925 341.7 52 May 11, 2023 J-GAAP
Mar, 2024 967,692 254,666 253,111 177,171 373.8 60 May 9, 2024 J-GAAP
Mar, 2025 Guidance 1,000,000 267,000 265,000 190,000 403.7 70 May 9, 2024 J-GAAP
YoY +3.3% +4.8% +4.7% +7.2% +8.0%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 252,105 71,624 67,517 49,044 103.5 28.4 Nov 10, 2023 J-GAAP
Oct - Dec, 2023 221,215 54,223 57,789 39,668 83.7 24.5 Feb 9, 2024 J-GAAP
Jan - Mar, 2024 241,234 50,668 45,734 31,579 66.6 21.0 May 9, 2024 J-GAAP
Apr - Jun, 2024 315,718 98,124 103,032 74,539 157.3 31.1 Aug 8, 2024 J-GAAP
Jul - Sep, 2024 223,856 57,813 53,136 34,921 73.7 25.8 Nov 8, 2024 J-GAAP
YoY -11.2% -19.3% -21.3% -28.8% -28.8%

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