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MITSUI E&S Co., Ltd., First Half Ordinary Profit Increases by 2.3 times

Tue Nov 12, 2024 2:30 pm JST Earnings

7003 MITSUI E&S Co., Ltd. 【J-GAAP】

Earnings Report

MITSUI E&S Co., Ltd. <7003> [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) surged by 2.3 times that of the same period last year, reaching 13.3 billion yen. The progress rate against the 18 billion yen full-year plan was 73.9%, also surpassing the progress rate of 28.5% from the same period of the previous year.

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 68.3% from the same period last year to 4.69 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit decreased to 4.65 billion yen, a 13.1% decrease compared to the same period last year. The operating profit margin remained almost flat, changing from 6.7% in the same period last year to 6.6%.

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 111,732 -8,505 -1,480 1,414 17.0 ー Nov 10, 2022 J-GAAP
Apr - Sep, 2023 135,536 6,646 5,903 4,001 40.3 28.5 Nov 9, 2023 J-GAAP
Apr - Sep, 2024 145,041 9,216 13,310 32,285 318.1 73.9 Nov 12, 2024 J-GAAP
YoY +7.0% +38.7% +125.5% +706.9% +689.7%

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 145,041 9,216 13,310 32,285 318.1 0 Nov 12, 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 166,339 12,984 14,808 21,050 214.9 5 May 14, 2024 J-GAAP
Oct - Mar, 2024 Guidance 154,959 7,784 4,690 2,715 26.9 18 Nov 12, 2024 J-GAAP
YoY -6.8% -40.0% -68.3% -87.1% -87.5%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 262,301 9,376 12,532 15,554 177.5 3 May 15, 2023 J-GAAP
Mar, 2024 301,875 19,630 20,711 25,051 255.7 5 May 14, 2024 J-GAAP
Mar, 2025 Guidance 300,000 17,000 18,000 35,000 346.9 18 Aug 8, 2024 J-GAAP
YoY -0.6% -13.4% -13.1% +39.7% +35.7%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 73,980 4,929 5,353 3,134 31.6 6.7 Nov 9, 2023 J-GAAP
Oct - Dec, 2023 79,825 6,835 5,787 7,664 78.4 8.6 Feb 14, 2024 J-GAAP
Jan - Mar, 2024 86,514 6,149 9,021 13,386 136.7 7.1 May 14, 2024 J-GAAP
Apr - Jun, 2024 70,062 4,299 8,656 28,793 283.7 6.1 Aug 8, 2024 J-GAAP
Jul - Sep, 2024 74,979 4,917 4,654 3,492 34.4 6.6 Nov 12, 2024 J-GAAP
YoY +1.4% -0.2% -13.1% +11.4% +9.1%

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