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SUN LIFE HOLDINGS CO.,LTD., July-September (2Q) Ordinary Profit Decreases by 15%

Mon Nov 11, 2024 3:30 pm JST Earnings

7040 SUN-LIFE HOLDING CO.,LTD. 【J-GAAP】

Earnings Report

SUN LIFE HOLDINGS CO.,LTD. <7040> [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) was 534 million yen, a 2.1% increase compared to the same period last year. However, The progress rate against the 1.38 billion yen full-year plan was 38.7%, almost the same as the five-year average of 39.6%.

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 grow by 3.4% from the same period last year, reaching 846 million yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit decreased to 285 million yen, a 15.2% decrease compared to the same period last year. The operating profit margin worsened from 9.1% in the same period last year to 7.9%.

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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 5,916 301 342 -126 -20.6 35.3 Nov 9, 2022 J-GAAP
Apr - Sep, 2023 6,387 477 523 294 48.1 39.0 Nov 9, 2023 J-GAAP
Apr - Sep, 2024 6,532 482 534 311 50.9 38.7 Nov 11, 2024 J-GAAP
YoY +2.3% +1.0% +2.1% +5.8% +5.7%

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 6,600 500 540 300 49.0 16 May 9, 2024 J-GAAP
Apr - Sep, 2024 Results 6,532 482 534 311 50.9 16 Nov 11, 2024 J-GAAP
Revision Rate -1.0% -3.6% -1.1% +3.7% +3.8%

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 7,115 755 818 822 134.3 17 May 9, 2024 J-GAAP
Oct - Mar, 2024 Guidance 7,268 818 846 489 79.9 17 Nov 11, 2024 J-GAAP
YoY +2.2% +8.3% +3.4% -40.5% -40.5%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 12,600 863 970 357 58.3 33 May 9, 2023 J-GAAP
Mar, 2024 13,502 1,232 1,341 1,116 182.3 33 May 9, 2024 J-GAAP
Mar, 2025 Guidance 13,800 1,300 1,380 800 130.7 33 May 9, 2024 J-GAAP
YoY +2.2% +5.5% +2.9% -28.3% -28.3%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 3,291 299 336 221 36.2 9.1 Nov 9, 2023 J-GAAP
Oct - Dec, 2023 3,578 394 415 257 42.0 11.0 Feb 9, 2024 J-GAAP
Jan - Mar, 2024 3,537 361 403 565 92.3 10.2 May 9, 2024 J-GAAP
Apr - Jun, 2024 3,258 224 249 163 26.7 6.9 Aug 9, 2024 J-GAAP
Jul - Sep, 2024 3,274 258 285 148 24.2 7.9 Nov 11, 2024 J-GAAP
YoY -0.5% -13.7% -15.2% -33.0% -33.1%

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