SAPPORO HOLDINGS LIMITED, January-September (Third Quarter Cumulative) Net Income Increases by 3.8 times, Exceeds Full-Year Plan

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Tue Nov 12, 2024 3:00 pm JST Earnings

2501 SAPPORO HOLDINGS LIMITED 【IFRS】

Earnings Report

SAPPORO HOLDINGS LIMITED <2501> [TSE-P] announced its financial results (based on IFRS) in the afternoon session on November 12th (15:00). The consolidated net income for the cumulative third quarter of the fiscal year ending December 2024 (January to September) surged by 3.8 times that of the same period last year, reaching 11.5 billion yen. The progress rate against the full-year plan of 10 billion yen is 115.1%, already exceeding the target and also exceeding the five-year average of 91.1%.

Based on the third-quarter cumulative performance announced by the company and the full-year plan, our calculation indicates that the consolidated net income/loss for the October to December period (4Q) is expected to turn into a loss of 1.5 billion yen (compared to a profit of 5.66 billion yen in the same period last year).

In the most recent three-month period, from July to September (3Q), the consolidated net income dropped to 5.42 billion yen, a 33.5% decrease compared to the same period last year. The operating profit margin worsened from 8.9% in the same period last year to 7.3%.

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Actual Results

Accumulated Results 3rd Quarter

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Progress Rate vs. First Half	Announce	Accounting Standards
Jan - Sep, 2022	345,812	7,535	8,978	5,292	67.9	79.0	Nov 9, 2022	IFRS
Jan - Sep, 2023	377,749	9,573	8,600	3,058	39.3	70.8	Nov 10, 2023	IFRS
Jan - Sep, 2024	385,587	17,671	16,974	11,505	147.7	ー	Nov 12, 2024	IFRS
YoY	+2.1%	+84.6%	+97.4%	+276.2%	+276.1%

Guidance Update

Second Half Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Jul - Dec, 2024 Prev	275,842	9,970	ー	3,920	50.3	52	Aug 13, 2024	IFRS
Jul - Dec, 2024 New	278,342	9,970	ー	3,920	50.3	52	Nov 12, 2024	IFRS
Revision Rate	+0.9%	0.0%	－	0.0%	0.0%

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Dec, 2024 Prev	523,500	17,600	ー	10,000	128.3	52	Feb 14, 2024	IFRS
Dec, 2024 New	526,000	17,600	ー	10,000	128.3	52	Nov 12, 2024	IFRS
Revision Rate	+0.5%	0.0%	－	0.0%	0.0%

Current Period Guidance

Second Half Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Jul - Dec, 2023	280,105	14,630	15,485	13,828	177.5	47	Feb 14, 2024	IFRS
Jul - Dec, 2024 Guidance	278,342	9,970	ー	3,920	50.3	52	Nov 12, 2024	IFRS
YoY	-0.6%	-31.9%	－	-71.7%	-71.7%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Dec, 2022	478,422	10,106	11,367	5,450	70.0	42	Feb 15, 2023	IFRS
Dec, 2023	518,632	11,820	12,144	8,724	112.0	47	Feb 14, 2024	IFRS
Dec, 2024 Guidance	526,000	17,600	ー	10,000	128.3	52	Nov 12, 2024	IFRS
YoY	+1.4%	+48.9%	－	+14.6%	+14.6%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	139,222	12,383	11,941	8,162	104.8	8.9	Nov 10, 2023	IFRS
Oct - Dec, 2023	140,883	2,247	3,544	5,666	72.7	1.6	Feb 14, 2024	IFRS
Jan - Mar, 2024	112,761	-1,936	-1,507	-1,977	-25.4	-1.7	May 14, 2024	IFRS
Apr - Jun, 2024	134,897	9,566	10,566	8,057	103.4	7.1	Aug 13, 2024	IFRS
Jul - Sep, 2024	137,929	10,041	7,915	5,425	69.6	7.3	Nov 12, 2024	IFRS
YoY	-0.9%	-18.9%	-33.7%	-33.5%	-33.6%