OBAYASHI CORPORATION, First Half Ordinary Profit Increases by 31%

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Mon Nov 11, 2024 3:00 pm JST Earnings

1802 OBAYASHI CORPORATION 【J-GAAP】

Earnings Report

OBAYASHI CORPORATION <1802> [TSE-P] announced its financial results in the afternoon session on November 11th (15:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) expanded to 49.7 billion yen, an increase of 30.8% compared to the same period last year. The progress rate against the 98 billion yen full-year plan was 50.7%, also surpassing the five-year average of 45.8%.

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 9.8% from the same period last year to 48.2 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit amounted to 29.4 billion yen, an increase of 2.5% compared to the same period last year. The operating profit margin remained almost flat, changing from 4.5% in the same period last year to 4.5%.

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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	924,391	41,785	48,659	38,494	53.7	48.3	Nov 7, 2022	J-GAAP
Apr - Sep, 2023	1,081,360	30,843	38,009	29,741	41.5	41.5	Nov 6, 2023	J-GAAP
Apr - Sep, 2024	1,240,596	45,497	49,719	55,100	76.9	50.7	Nov 11, 2024	J-GAAP
YoY	+14.7%	+47.5%	+30.8%	+85.3%	+85.3%

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	－	40	May 13, 2024	J-GAAP
Apr - Sep, 2024 Results	1,240,596	45,497	49,719	55,100	76.9	40	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	1,243,802	48,538	53,506	45,318	63.2	54	May 13, 2024	J-GAAP
Oct - Mar, 2024 Guidance	1,269,404	47,503	48,281	31,900	44.5	40	Nov 11, 2024	J-GAAP
YoY	+2.1%	-2.1%	-9.8%	-29.6%	-29.6%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	1,983,888	93,800	100,802	77,671	108.3	42	May 11, 2023	J-GAAP
Mar, 2024	2,325,162	79,381	91,515	75,059	104.7	75	May 13, 2024	J-GAAP
Mar, 2025 Guidance	2,510,000	93,000	98,000	87,000	121.4	80	May 13, 2024	J-GAAP
YoY	+7.9%	+17.2%	+7.1%	+15.9%	+15.9%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	593,916	26,676	28,694	23,150	32.3	4.5	Nov 6, 2023	J-GAAP
Oct - Dec, 2023	620,189	20,365	23,089	17,751	24.8	3.3	Feb 5, 2024	J-GAAP
Jan - Mar, 2024	623,613	28,173	30,417	27,567	38.5	4.5	May 13, 2024	J-GAAP
Apr - Jun, 2024	574,706	15,372	20,300	25,847	36.1	2.7	Aug 6, 2024	J-GAAP
Jul - Sep, 2024	665,890	30,125	29,419	29,253	40.8	4.5	Nov 11, 2024	J-GAAP
YoY	+12.1%	+12.9%	+2.5%	+26.4%	+26.4%