SHIMIZU CORPORATION, The Current Fiscal Year Ordinary Profit Revised Upward by 32%, Dividend Revised Upward by 12 yen

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Tue Nov 12, 2024 1:00 pm JST Earnings

1803 SHIMIZU CORPORATION 【J-GAAP】

Earnings Report

SHIMIZU CORPORATION <1803> [TSE-P] announced its financial results in the afternoon session on November 12th (13:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) surged by 3.6 times that of the same period last year, reaching 18.6 billion yen.

In addition, the full-year consolidated ordinary profit has been revised upward by 31.7%, from the previous forecast of 41 billion yen to 54 billion yen (compared to a loss of 19.8 billion yen in the previous period).

Based on the first-half performance announced by the company and the full-year plan, our calculation indicates that the consolidated ordinary profit/loss for the October to March period (second half) is expected to turn into a profit of 35.3 billion yen (compared to a loss of 24.9 billion yen in the same period last year).

In light of the strong performance, the company has significantly increased its planned annual dividend for the current fiscal year from the original plan of 23 yen to 35 yen (compared to 20 yen in the previous period).

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit/loss turned to a profit of profit of 12.6 billion yen (compared to a loss of 5.71 billion yen in the same period last year). The operating profit/loss margin significantly improved from -1.2% in the same period last year to 3.7%.

Kabutan News

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	825,921	11,244	14,264	11,281	15.3	25.2	Nov 8, 2022	J-GAAP
Apr - Sep, 2023	936,878	165	5,155	16,249	22.1	ー	Nov 7, 2023	J-GAAP
Apr - Sep, 2024	837,387	17,700	18,685	10,676	15.2	34.6	Nov 12, 2024	J-GAAP
YoY	-10.6%	+10,627.3%	+262.5%	-34.3%	-31.2%

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	－	11.50	May 13, 2024	J-GAAP
Apr - Sep, 2024 Results	837,387	17,700	18,685	10,676	15.2	17.50	Nov 12, 2024	J-GAAP
Revision Rate	－	－	－	－	－

Guidance Update

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	1,800,000	41,000	41,000	40,000	57.5	23	May 13, 2024	J-GAAP
Mar, 2025 New	1,860,000	56,000	54,000	60,000	86.3	35	Nov 12, 2024	J-GAAP
Revision Rate	+3.3%	+36.6%	+31.7%	+50.0%	+50.0%

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	1,068,640	-24,850	-24,989	914	1.3	6.50	May 13, 2024	J-GAAP
Oct - Mar, 2024 Guidance	1,022,613	38,300	35,315	49,324	70.9	17.50	Nov 12, 2024	J-GAAP
YoY	-4.3%	－	－	+5,296.5%	+5,529.4%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	1,933,814	54,647	56,546	49,057	66.3	21	May 11, 2023	J-GAAP
Mar, 2024	2,005,518	-24,685	-19,834	17,163	23.6	20	May 13, 2024	J-GAAP
Mar, 2025 Guidance	1,860,000	56,000	54,000	60,000	86.3	35	Nov 12, 2024	J-GAAP
YoY	-7.3%	－	－	+249.6%	+266.1%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	495,517	-5,772	-5,714	-2,425	-3.3	-1.2	Nov 7, 2023	J-GAAP
Oct - Dec, 2023	511,635	-52,118	-52,152	-37,104	-50.7	-10.2	Feb 8, 2024	J-GAAP
Jan - Mar, 2024	557,005	27,268	27,163	38,018	52.2	4.9	May 13, 2024	J-GAAP
Apr - Jun, 2024	401,022	1,769	6,081	2,408	3.4	0.4	Jul 30, 2024	J-GAAP
Jul - Sep, 2024	436,365	15,931	12,604	8,268	11.8	3.7	Nov 12, 2024	J-GAAP
YoY	-11.9%	－	－	－	－