SUMCO CORPORATION, 55% Decrease in Undisclosed Ordinary Profit for The Current Fiscal Year, The Undetermined Dividend to reduced by 34 yen

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Fri Nov 8, 2024 3:30 pm JST Earnings

3436 SUMCO CORPORATION 【J-GAAP】

Earnings Report

SUMCO CORPORATION <3436> [TSE-P] announced its financial results after the market closed on November 8th (15:30). The consolidated ordinary profit for the cumulative third quarter of the fiscal year ending December 2024 (January to September) significantly dropped by 59.4% from the same period last year to 26 billion yen.

In addition, the full-year forecast, which was not disclosed, indicated that consolidated ordinary profit drop by 54.6% from the previous period to 33 billion yen.

Based on the third-quarter cumulative performance announced by the company and the full-year plan, our calculation indicates that the consolidated ordinary profit for the October to December period (4Q) is expected to decrease by 19.0% from the same period last year to 6.99 billion yen.

Due to a decline in performance, the company has decided to implement a annual dividend of 21 yen for the current fiscal year, which was previously undecided (compared to 55 yen in the prior term).

In the most recent three-month period, from July to September (3Q), the consolidated ordinary profit significantly dropped to 5.56 billion yen, a 64.0% decrease compared to the same period last year. The operating profit margin significantly dropped from 15.0% in the same period last year to 9.3%.

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Actual Results

Accumulated Results 3rd Quarter

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Progress Rate vs. First Half	Announce	Accounting Standards
Jan - Sep, 2022	323,658	79,931	83,412	51,794	147.9	74.9	Nov 8, 2022	J-GAAP
Jan - Sep, 2023	320,851	61,855	63,992	58,937	168.4	88.1	Nov 8, 2023	J-GAAP
Jan - Sep, 2024	296,664	29,974	26,003	16,259	46.5	78.8	Nov 8, 2024	J-GAAP
YoY	-7.5%	-51.5%	-59.4%	-72.4%	-72.4%

Guidance Update

Second Half Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Jul - Dec, 2024 Prev	ー	ー	ー	ー	－	－	Feb 14, 2024	J-GAAP
Jul - Dec, 2024 New	195,327	14,078	12,559	7,586	21.7	6	Nov 8, 2024	J-GAAP
Revision Rate	－	－	－	－	－

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Dec, 2024 Prev	ー	ー	ー	ー	－	－	Feb 14, 2024	J-GAAP
Dec, 2024 New	393,600	34,900	33,000	20,200	57.8	21	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
Jul - Dec, 2023	205,282	26,294	24,099	14,237	40.7	13	Feb 14, 2024	J-GAAP
Jul - Dec, 2024 Guidance	195,327	14,078	12,559	7,586	21.7	6	Nov 8, 2024	J-GAAP
YoY	-4.8%	-46.5%	-47.9%	-46.7%	-46.7%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Dec, 2022	441,083	109,683	111,339	70,205	200.5	81	Feb 9, 2023	J-GAAP
Dec, 2023	425,941	73,080	72,627	63,884	182.6	55	Feb 14, 2024	J-GAAP
Dec, 2024 Guidance	393,600	34,900	33,000	20,200	57.8	21	Nov 8, 2024	J-GAAP
YoY	-7.6%	-52.2%	-54.6%	-68.4%	-68.4%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	100,192	15,069	15,464	9,290	26.6	15.0	Nov 8, 2023	J-GAAP
Oct - Dec, 2023	105,090	11,225	8,635	4,947	14.1	10.7	Feb 14, 2024	J-GAAP
Jan - Mar, 2024	93,514	8,693	9,104	5,055	14.5	9.3	May 9, 2024	J-GAAP
Apr - Jun, 2024	104,759	12,129	11,337	7,559	21.6	11.6	Aug 7, 2024	J-GAAP
Jul - Sep, 2024	98,391	9,152	5,562	3,645	10.4	9.3	Nov 8, 2024	J-GAAP
YoY	-1.8%	-39.3%	-64.0%	-60.8%	-60.8%