Sumitomo Mitsui Construction Co.,Ltd., The Current Fiscal Year Ordinary Profit Revised Downward to a Loss

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Tue Nov 12, 2024 3:30 pm JST Earnings

1821 Sumitomo Mitsui Construction Co.,Ltd. 【J-GAAP】

Earnings Report

Sumitomo Mitsui Construction Co.,Ltd. <1821> [TSE-P] announced its financial results after the market closed on November 12th (15:30). The consolidated ordinary profit/loss for the cumulative second quarter of the fiscal year ending March 2025 (April to September) turned into a loss of 9.27 billion yen (compared to a profit of 8.35 billion yen in the same period last year).

In addition, the full-year consolidated ordinary profit/loss has been revised downward from an expected profit of 8 billion yen to a loss of 4.5 billion yen (compared to a profit of 6.29 billion yen in the previous period), turning to a loss outlook.

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 4.77 billion yen (compared to a loss of 2.06 billion yen in the same period last year).

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit/loss turned to a loss of 10.7 billion yen (compared to a profit of 4.27 billion yen in the same period last year). The operating profit/loss margin drastically worsened from 3.8% in the same period last year to -8.0%.

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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	210,555	1,140	1,062	183	1.2	ー	Nov 9, 2022	J-GAAP
Apr - Sep, 2023	230,639	8,812	8,353	5,176	33.1	132.8	Nov 8, 2023	J-GAAP
Apr - Sep, 2024	218,251	-6,809	-9,270	-14,581	-93.0	ー	Nov 12, 2024	J-GAAP
YoY	-5.4%	－	－	－	－

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	－	0	May 10, 2024	J-GAAP
Apr - Sep, 2024 Results	218,251	-6,809	-9,270	-14,581	-93.0	0	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	455,000	12,500	8,000	4,500	28.7	14	May 10, 2024	J-GAAP
Mar, 2025 New	455,000	1,000	-4,500	-8,000	-51.0	14	Nov 12, 2024	J-GAAP
Revision Rate	0.0%	-92.0%	－	－	－

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	248,849	-312	-2,062	-1,170	-7.5	14	May 10, 2024	J-GAAP
Oct - Mar, 2024 Guidance	236,749	7,809	4,770	6,581	42.0	14	Nov 12, 2024	J-GAAP
YoY	-4.9%	－	－	－	－

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	458,622	-18,759	-18,483	-25,702	-164.3	14	May 10, 2023	J-GAAP
Mar, 2024	479,488	8,500	6,291	4,006	25.6	14	May 10, 2024	J-GAAP
Mar, 2025 Guidance	455,000	1,000	-4,500	-8,000	-51.0	14	Nov 12, 2024	J-GAAP
YoY	-5.1%	-88.2%	－	－	－

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	119,379	4,526	4,277	2,529	16.2	3.8	Nov 8, 2023	J-GAAP
Oct - Dec, 2023	122,419	1,733	-2	-452	-2.9	1.4	Feb 7, 2024	J-GAAP
Jan - Mar, 2024	126,430	-2,045	-2,060	-718	-4.6	-1.6	May 10, 2024	J-GAAP
Apr - Jun, 2024	111,891	1,665	1,453	780	5.0	1.5	Aug 9, 2024	J-GAAP
Jul - Sep, 2024	106,360	-8,474	-10,723	-15,361	-98.0	-8.0	Nov 12, 2024	J-GAAP
YoY	-10.9%	－	－	－	－