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Sumitomo Seika Chemicals Company,Limited., July-September (2Q) Ordinary Profit Decreases by 60%

Mon Nov 11, 2024 2:00 pm JST Earnings

4008 Sumitomo Seika Chemicals Company,Limited. 【J-GAAP】

Earnings Report

Sumitomo Seika Chemicals Company,Limited. <4008> [TSE-P] announced its financial results in the afternoon session on November 11th (14:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) increased by 11.7% from the same period last year, reaching 4.72 billion yen. However, The progress rate against the 10 billion yen full-year plan was 47.3%, almost the same as the five-year average of 48.0%.

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 decrease by 12.3% from the same period last year to 5.27 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit significantly dropped to 1.17 billion yen, a 60.3% decrease compared to the same period last year. The operating profit margin worsened from 7.5% in the same period last year to 5.4%.

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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 73,443 6,416 7,759 5,922 439.0 71.0 Nov 7, 2022 J-GAAP
Apr - Sep, 2023 69,664 3,778 4,233 2,865 212.3 41.3 Nov 6, 2023 J-GAAP
Apr - Sep, 2024 73,975 4,905 4,728 3,329 250.3 47.3 Nov 11, 2024 J-GAAP
YoY +6.2% +29.8% +11.7% +16.2% +17.9%

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 100 May 13, 2024 J-GAAP
Apr - Sep, 2024 Results 73,975 4,905 4,728 3,329 250.3 100 Nov 11, 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 73,322 5,751 6,014 3,301 245.7 100 May 13, 2024 J-GAAP
Oct - Mar, 2024 Guidance 73,025 5,095 5,272 3,671 280.1 100 Nov 11, 2024 J-GAAP
YoY -0.4% -11.4% -12.3% +11.2% +14.0%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 143,041 10,454 10,929 8,592 636.8 200 May 12, 2023 J-GAAP
Mar, 2024 142,986 9,529 10,247 6,166 459.0 200 May 13, 2024 J-GAAP
Mar, 2025 Guidance 147,000 10,000 10,000 7,000 534.1 200 May 13, 2024 J-GAAP
YoY +2.8% +4.9% -2.4% +13.5% +16.4%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 35,564 2,674 2,962 2,138 158.5 7.5 Nov 6, 2023 J-GAAP
Oct - Dec, 2023 37,579 2,550 2,202 1,160 86.1 6.8 Feb 6, 2024 J-GAAP
Jan - Mar, 2024 35,743 3,201 3,812 2,141 159.4 9.0 May 13, 2024 J-GAAP
Apr - Jun, 2024 36,896 2,911 3,553 2,521 189.6 7.9 Aug 9, 2024 J-GAAP
Jul - Sep, 2024 37,079 1,994 1,175 808 60.8 5.4 Nov 11, 2024 J-GAAP
YoY +4.3% -25.4% -60.3% -62.2% -61.7%

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