Sumitomo Osaka Cement Co.,Ltd., The Current Fiscal Year Ordinary Profit Revised Downward to an Unexpected 2% Decrease

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Tue Nov 12, 2024 2:30 pm JST Earnings

5232 Sumitomo Osaka Cement Co.,Ltd. 【J-GAAP】

Earnings Report

Sumitomo Osaka Cement Co.,Ltd. <5232> [TSE-P] announced its financial results in the afternoon session on November 12th (14:30). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) decreased by 20.6% from the same period last year to 2.12 billion yen, resulting in a decrease in profits compared to the previous forecast of a 38.3% increase.

In addition, the full-year consolidated ordinary profit has downwardly by 26.5%, from the previous forecast of 11.3 billion yen to 8.3 billion yen (compared to 8.47 billion yen in the previous period). This changes the outlook from an anticipated profit increase to a projection of a 2.1% decrease in profit.

Based on the first-half performance announced by the company and the full-year plan, our calculation indicates that the consolidated ordinary profit for the October to March period (second half) is expected to grow by 6.5% from the same period last year, reaching 6.17 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit significantly dropped to 142 million yen, a 89.2% decrease compared to the same period last year. The operating profit margin worsened from 3.0% in the same period last year to 1.8%.

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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	95,673	-6,109	-5,490	-2,910	-84.8	ー	Nov 9, 2022	J-GAAP
Apr - Sep, 2023	109,786	1,838	2,676	5,878	171.6	31.6	Nov 9, 2023	J-GAAP
Apr - Sep, 2024	108,613	2,280	2,124	943	28.1	25.6	Nov 12, 2024	J-GAAP
YoY	-1.1%	+24.0%	-20.6%	-84.0%	-83.6%

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	111,820	3,600	3,700	2,400	72.8	60	May 14, 2024	J-GAAP
Apr - Sep, 2024 Results	108,613	2,280	2,124	943	28.1	60	Nov 12, 2024	J-GAAP
Revision Rate	-2.9%	-36.7%	-42.6%	-60.7%	-61.5%

Guidance Update

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	229,550	11,100	11,300	10,300	312.4	120	May 14, 2024	J-GAAP
Mar, 2025 New	223,800	8,400	8,300	7,800	236.6	120	Nov 12, 2024	J-GAAP
Revision Rate	-2.5%	-24.3%	-26.5%	-24.3%	-24.3%

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	112,716	5,413	5,800	9,461	276.2	60	May 14, 2024	J-GAAP
Oct - Mar, 2024 Guidance	115,187	6,120	6,176	6,857	208.0	60	Nov 12, 2024	J-GAAP
YoY	+2.2%	+13.1%	+6.5%	-27.5%	-24.7%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	204,705	-8,555	-7,849	-5,719	-166.8	120	May 11, 2023	J-GAAP
Mar, 2024	222,502	7,251	8,476	15,339	447.9	120	May 14, 2024	J-GAAP
Mar, 2025 Guidance	223,800	8,400	8,300	7,800	236.6	120	Nov 12, 2024	J-GAAP
YoY	+0.6%	+15.8%	-2.1%	-49.1%	-47.2%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	57,020	1,711	1,313	695	20.3	3.0	Nov 9, 2023	J-GAAP
Oct - Dec, 2023	57,693	2,942	3,243	4,726	138.0	5.1	Feb 9, 2024	J-GAAP
Jan - Mar, 2024	55,023	2,471	2,557	4,735	138.3	4.5	May 14, 2024	J-GAAP
Apr - Jun, 2024	53,225	1,263	1,982	686	20.2	2.4	Aug 6, 2024	J-GAAP
Jul - Sep, 2024	55,388	1,017	142	257	7.7	1.8	Nov 12, 2024	J-GAAP
YoY	-2.9%	-40.6%	-89.2%	-63.0%	-62.3%