Hibino Corporation, The Current Fiscal Year Ordinary Profit Revised Upward by 12%

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Fri Nov 8, 2024 3:30 pm JST Earnings

2469 Hibino Corporation 【J-GAAP】

Earnings Report

Hibino Corporation <2469> [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) expanded to 1.36 billion yen, an increase of 69.6% compared to the same period last year, exceeded the previous forecast of 1 billion yen.

In addition, the full-year consolidated ordinary profit has been revised upward by 11.9%, from the previous forecast of 3.35 billion yen to 3.75 billion yen (compared to 2.95 billion yen in the previous period), increasing the growth rate from 13.5% to 27.1%.

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 11.2% from the same period last year, reaching 2.39 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit grew by 26.6% from the same period last year, reaching 1.06 billion yen. The operating profit margin improved from 6.7% in the same period last year to 8.2%.

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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	17,615	-560	-285	-295	-29.9	ー	Nov 7, 2022	J-GAAP
Apr - Sep, 2023	21,090	618	802	328	33.2	27.2	Nov 6, 2023	J-GAAP
Apr - Sep, 2024	26,897	1,464	1,360	780	78.6	36.3	Nov 8, 2024	J-GAAP
YoY	+27.5%	+136.9%	+69.6%	+137.8%	+137.1%

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	26,000	1,050	1,000	650	65.4	40	Aug 7, 2024	J-GAAP
Apr - Sep, 2024 Results	26,897	1,464	1,360	780	78.6	40	Nov 8, 2024	J-GAAP
Revision Rate	+3.5%	+39.4%	+36.0%	+20.0%	+20.1%

Guidance Update

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	58,500	3,500	3,350	1,950	196.3	70	Aug 7, 2024	J-GAAP
Mar, 2025 New	59,000	3,900	3,750	2,100	211.4	70	Nov 8, 2024	J-GAAP
Revision Rate	+0.9%	+11.4%	+11.9%	+7.7%	+7.7%

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	29,401	2,196	2,149	1,299	130.9	30	May 13, 2024	J-GAAP
Oct - Mar, 2024 Guidance	32,103	2,436	2,390	1,320	132.9	30	Nov 8, 2024	J-GAAP
YoY	+9.2%	+10.9%	+11.2%	+1.6%	+1.5%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	41,922	1,229	1,400	607	61.4	30	May 12, 2023	J-GAAP
Mar, 2024	50,491	2,814	2,951	1,627	164.0	45	May 13, 2024	J-GAAP
Mar, 2025 Guidance	59,000	3,900	3,750	2,100	211.4	70	Nov 8, 2024	J-GAAP
YoY	+16.9%	+38.6%	+27.1%	+29.1%	+28.9%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	11,817	797	837	431	43.6	6.7	Nov 6, 2023	J-GAAP
Oct - Dec, 2023	13,059	1,166	1,092	639	64.4	8.9	Feb 5, 2024	J-GAAP
Jan - Mar, 2024	16,342	1,030	1,057	660	66.5	6.3	May 13, 2024	J-GAAP
Apr - Jun, 2024	11,662	220	300	172	17.4	1.9	Aug 7, 2024	J-GAAP
Jul - Sep, 2024	15,235	1,244	1,060	608	61.3	8.2	Nov 8, 2024	J-GAAP
YoY	+28.9%	+56.1%	+26.6%	+41.1%	+40.6%