KITANO CONSTRUCTION CORP., First Half Ordinary Profit Increases by 39%, July-September Ordinary Profit Increases by 74%

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Mon Nov 11, 2024 3:30 pm JST Earnings

1866 KITANO CONSTRUCTION CORP. 【J-GAAP】

Earnings Report

KITANO CONSTRUCTION CORP. <1866> [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) expanded to 2.49 billion yen, an increase of 39.5% compared to the same period last year. The progress rate against the 3.5 billion yen full-year plan was 71.1%, also surpassing the five-year average of 34.0%.

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 significant drop by 69.3% from the same period last year to 1.01 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit increased by 74.5% from the same period last year, reaching 1.72 billion yen. The operating profit margin significantly improved from 4.3% in the same period last year to 7.8%.

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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	34,419	1,506	2,047	1,460	236.3	47.0	Nov 11, 2022	J-GAAP
Apr - Sep, 2023	38,616	1,510	1,785	1,324	226.7	35.2	Nov 10, 2023	J-GAAP
Apr - Sep, 2024	37,589	2,103	2,490	2,070	348.3	71.1	Nov 11, 2024	J-GAAP
YoY	-2.7%	+39.3%	+39.5%	+56.3%	+53.7%

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	ー	ー	ー	ー	－	0	May 14, 2024	J-GAAP
Apr - Sep, 2024 Results	37,589	2,103	2,490	2,070	348.3	0	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	46,348	3,294	3,288	2,578	445.0	110	May 14, 2024	J-GAAP
Oct - Mar, 2024 Guidance	48,411	1,197	1,010	330	54.1	100	Nov 11, 2024	J-GAAP
YoY	+4.5%	-63.7%	-69.3%	-87.2%	-87.8%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	85,277	3,931	4,358	1,988	327.8	110	May 12, 2023	J-GAAP
Mar, 2024	84,964	4,804	5,073	3,902	673.6	110	May 14, 2024	J-GAAP
Mar, 2025 Guidance	86,000	3,300	3,500	2,400	393.7	100	May 14, 2024	J-GAAP
YoY	+1.2%	-31.3%	-31.0%	-38.5%	-41.5%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	18,731	799	991	765	131.0	4.3	Nov 10, 2023	J-GAAP
Oct - Dec, 2023	22,660	1,908	2,018	1,453	250.1	8.4	Feb 13, 2024	J-GAAP
Jan - Mar, 2024	23,688	1,386	1,270	1,125	194.2	5.9	May 14, 2024	J-GAAP
Apr - Jun, 2024	16,359	450	761	612	106.9	2.8	Aug 9, 2024	J-GAAP
Jul - Sep, 2024	21,230	1,653	1,729	1,458	245.3	7.8	Nov 11, 2024	J-GAAP
YoY	+13.3%	+106.9%	+74.5%	+90.6%	+87.3%