FUJITA ENGINEERING CO.,LTD., First Half Ordinary Profit Increases by 75%

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Tue Nov 12, 2024 3:00 pm JST Earnings

1770 FUJITA ENGINEERING CO.,LTD. 【J-GAAP】

Earnings Report

FUJITA ENGINEERING CO.,LTD. <1770> [TSE-S] announced its financial results in the afternoon session on November 12th (15:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) expanded to 1.45 billion yen, an increase of 75.0% compared to the same period last year. The progress rate against the 2.2 billion yen full-year plan was 66.1%, also surpassing the five-year average of 23.7%.

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 50.8% from the same period last year to 746 million yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit decreased to 569 million yen, a 8.7% decrease compared to the same period last year. The operating profit margin worsened from 8.9% in the same period last year to 6.7%.

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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	10,185	309	440	303	33.3	23.2	Nov 10, 2022	J-GAAP
Apr - Sep, 2023	11,633	734	831	555	60.7	35.4	Nov 10, 2023	J-GAAP
Apr - Sep, 2024	15,633	1,348	1,454	986	107.7	66.1	Nov 12, 2024	J-GAAP
YoY	+34.4%	+83.7%	+75.0%	+77.7%	+77.4%

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	－	25	May 10, 2024	J-GAAP
Apr - Sep, 2024 Results	15,633	1,348	1,454	986	107.7	25	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	20,640	1,448	1,515	1,036	113.2	40	May 10, 2024	J-GAAP
Oct - Mar, 2024 Guidance	14,367	652	746	314	34.2	25	Nov 12, 2024	J-GAAP
YoY	-30.4%	-55.0%	-50.8%	-69.7%	-69.7%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	27,164	1,734	1,898	1,275	139.6	40	May 10, 2023	J-GAAP
Mar, 2024	32,273	2,182	2,346	1,591	173.8	60	May 10, 2024	J-GAAP
Mar, 2025 Guidance	30,000	2,000	2,200	1,300	141.7	50	May 10, 2024	J-GAAP
YoY	-7.0%	-8.3%	-6.2%	-18.3%	-18.4%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	6,258	555	623	421	46.0	8.9	Nov 10, 2023	J-GAAP
Oct - Dec, 2023	7,959	612	651	439	48.0	7.7	Feb 9, 2024	J-GAAP
Jan - Mar, 2024	12,681	836	864	597	65.2	6.6	May 10, 2024	J-GAAP
Apr - Jun, 2024	7,663	811	885	607	66.3	10.6	Aug 9, 2024	J-GAAP
Jul - Sep, 2024	7,970	537	569	379	41.4	6.7	Nov 12, 2024	J-GAAP
YoY	+27.4%	-3.2%	-8.7%	-10.0%	-10.1%