SK KAKEN CO.,LTD., First Half Ordinary Profit Decreases by 35%, July-September Ordinary Profit Decreases by 93%

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Mon Nov 11, 2024 3:30 pm JST Earnings

4628 SK KAKEN CO.,LTD. 【J-GAAP】

Earnings Report

SK KAKEN CO.,LTD. <4628> [TSE-S] announced its financial results after the market closed on November 11th (15:30). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) dropped by 34.7% from the same period last year to 6.19 billion yen. The progress rate against the 13.7 billion yen full-year plan was 45.2%, also falling below the five-year average of 50.3%.

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 nearly flat at 7.5 billion yen, down 0.9% from the same period last year.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit significantly dropped to 294 million yen, a 92.6% decrease compared to the same period last year. However, the operating profit margin rose from 10.8% in the same period last year to 11.0%.

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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	45,529	4,549	8,828	6,032	447.5	69.0	Nov 10, 2022	J-GAAP
Apr - Sep, 2023	49,000	5,606	9,485	6,652	493.4	55.6	Nov 10, 2023	J-GAAP
Apr - Sep, 2024	52,116	6,143	6,192	4,617	342.5	45.2	Nov 11, 2024	J-GAAP
YoY	+6.4%	+9.6%	-34.7%	-30.6%	-30.6%

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	50,000	5,700	6,400	4,400	326.2	0	May 13, 2024	J-GAAP
Apr - Sep, 2024 Results	52,116	6,143	6,192	4,617	342.5	0	Nov 11, 2024	J-GAAP
Revision Rate	+4.2%	+7.8%	-3.3%	+4.9%	+5.0%

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	51,883	6,479	7,573	5,173	383.7	135	May 13, 2024	J-GAAP
Oct - Mar, 2024 Guidance	50,884	6,057	7,508	4,883	362.0	120	Nov 11, 2024	J-GAAP
YoY	-1.9%	-6.5%	-0.9%	-5.6%	-5.7%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	95,580	9,941	12,803	9,034	670.2	80	May 12, 2023	J-GAAP
Mar, 2024	100,883	12,085	17,058	11,825	877.2	135	May 13, 2024	J-GAAP
Mar, 2025 Guidance	103,000	12,200	13,700	9,500	704.2	120	May 13, 2024	J-GAAP
YoY	+2.1%	+1.0%	-19.7%	-19.7%	-19.7%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	24,440	2,635	3,954	2,802	207.8	10.8	Nov 10, 2023	J-GAAP
Oct - Dec, 2023	28,872	3,966	2,940	2,132	158.2	13.7	Feb 9, 2024	J-GAAP
Jan - Mar, 2024	23,011	2,513	4,633	3,041	225.6	10.9	May 13, 2024	J-GAAP
Apr - Jun, 2024	26,249	3,294	5,898	4,130	306.4	12.5	Aug 9, 2024	J-GAAP
Jul - Sep, 2024	25,867	2,849	294	487	36.1	11.0	Nov 11, 2024	J-GAAP
YoY	+5.8%	+8.1%	-92.6%	-82.6%	-82.6%