NIPPON EXPRESS HOLDINGS,INC., January-September (Third Quarter Cumulative) Net Income Decreases by 40%

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Tue Nov 12, 2024 3:30 pm JST Earnings

9147 NIPPON EXPRESS HOLDINGS,INC. 【IFRS】

Earnings Report

NIPPON EXPRESS HOLDINGS,INC. <9147> [TSE-P] announced its financial results (based on IFRS) after the market closed on November 12th (15:30). The consolidated net income for the cumulative third quarter of the fiscal year ending December 2024 (January to September) dropped by 39.5% from the same period last year to 18.4 billion yen. The progress rate against the 40 billion yen full-year plan was 46.1%, also falling below the same period of the previous year of 82.4%.

Based on the third-quarter cumulative performance announced by the company and the unchanged full-year plan, our calculation indicates that the consolidated net income for the October to December period (4Q) is expected to surge by 3.3 times that of the same period last year, reaching 21.5 billion yen.

In the most recent three-month period, from July to September (3Q), the consolidated net income increased by 38.3% from the same period last year, reaching 7.01 billion yen. The operating profit margin improved from 2.0% in the same period last year to 2.4%.

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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	1,962,464	157,369	162,295	111,757	1,236.5	101.3	Nov 9, 2022	IFRS
Jan - Sep, 2023	1,675,352	51,442	52,449	30,520	344.1	85.7	Nov 13, 2023	IFRS
Jan - Sep, 2024	1,900,201	35,083	33,712	18,455	211.5	54.4	Nov 12, 2024	IFRS
YoY	+13.4%	-31.8%	-35.7%	-39.5%	-38.5%

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	1,107,151	19,716	19,861	11,603	131.1	150	Feb 14, 2024	IFRS
Jul - Dec, 2024 Guidance	1,320,107	45,776	40,926	28,561	329.8	150	Aug 9, 2024	IFRS
YoY	+19.2%	+132.2%	+106.1%	+146.2%	+151.6%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Dec, 2022	2,618,659	155,510	160,168	108,318	1,202.3	400	Feb 14, 2023	IFRS
Dec, 2023	2,239,017	60,098	61,208	37,050	418.6	300	Feb 14, 2024	IFRS
Dec, 2024 Guidance	2,570,000	65,000	62,000	40,000	461.9	300	Aug 9, 2024	IFRS
YoY	+14.8%	+8.2%	+1.3%	+8.0%	+10.3%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	543,486	11,060	11,102	5,073	57.2	2.0	Nov 13, 2023	IFRS
Oct - Dec, 2023	563,665	8,656	8,759	6,530	73.8	1.5	Feb 14, 2024	IFRS
Jan - Mar, 2024	617,601	3,474	4,202	822	9.4	0.6	May 13, 2024	IFRS
Apr - Jun, 2024	632,292	15,750	16,872	10,617	121.3	2.5	Aug 9, 2024	IFRS
Jul - Sep, 2024	650,308	15,859	12,638	7,016	80.4	2.4	Nov 12, 2024	IFRS
YoY	+19.7%	+43.4%	+13.8%	+38.3%	+40.6%