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

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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	ー	ー	ー	ー	－	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%