WAKACHIKU CONSTRUCTION CO.,LTD., First Half Ordinary Profit Decreases by 86%, July-September Ordinary Profit Decreases by 80%

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Mon Nov 11, 2024 4:00 pm JST Earnings

1888 WAKACHIKU CONSTRUCTION CO.,LTD. 【J-GAAP】

Earnings Report

WAKACHIKU CONSTRUCTION CO.,LTD. <1888> [TSE-P] announced its financial results after the market closed on November 11th (16:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) significantly dropped by 85.7% from the same period last year to 498 million yen. The progress rate against the 6.1 billion yen full-year plan was 8.2%, also falling below the five-year average of 50.0%.

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 expand by 32.5% from the same period last year, reaching 5.6 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit significantly dropped to 361 million yen, a 79.8% decrease compared to the same period last year. The operating profit margin drastically worsened from 7.6% in the same period last year to 2.4%.

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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	40,872	3,354	3,723	2,365	185.5	56.9	Nov 10, 2022	J-GAAP
Apr - Sep, 2023	46,356	2,755	3,472	2,261	177.3	45.1	Nov 10, 2023	J-GAAP
Apr - Sep, 2024	35,183	461	498	233	18.4	8.2	Nov 11, 2024	J-GAAP
YoY	-24.1%	-83.3%	-85.7%	-89.7%	-89.7%

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	35,183	461	498	233	18.4	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	48,561	4,221	4,227	2,831	222.0	120	May 14, 2024	J-GAAP
Oct - Mar, 2024 Guidance	63,617	5,639	5,602	3,867	304.3	126	Nov 11, 2024	J-GAAP
YoY	+31.0%	+33.6%	+32.5%	+36.6%	+37.1%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	84,004	6,236	6,546	5,442	426.8	100	May 12, 2023	J-GAAP
Mar, 2024	94,917	6,976	7,699	5,092	399.3	120	May 14, 2024	J-GAAP
Mar, 2025 Guidance	98,800	6,100	6,100	4,100	322.7	126	May 14, 2024	J-GAAP
YoY	+4.1%	-12.6%	-20.8%	-19.5%	-19.2%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	23,854	1,806	1,785	1,158	90.8	7.6	Nov 10, 2023	J-GAAP
Oct - Dec, 2023	25,347	2,217	2,070	1,367	107.2	8.7	Feb 8, 2024	J-GAAP
Jan - Mar, 2024	23,214	2,004	2,157	1,464	114.8	8.6	May 14, 2024	J-GAAP
Apr - Jun, 2024	16,698	20	137	32	2.6	0.1	Aug 8, 2024	J-GAAP
Jul - Sep, 2024	18,485	441	361	201	15.8	2.4	Nov 11, 2024	J-GAAP
YoY	-22.5%	-75.6%	-79.8%	-82.6%	-82.6%