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

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 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 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%

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