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MATSUI CONSTRUCTION CO., LTD., First Half Ordinary Profit Decreases by 28%, July-September Ordinary Profit Decreases by 33%

Wed Nov 13, 2024 1:30 pm JST Earnings

1810 MATSUI CONSTRUCTION CO., LTD. 【J-GAAP】

Earnings Report

MATSUI CONSTRUCTION CO., LTD. <1810> [TSE-S] announced its financial results in the afternoon session on November 13th (13:30). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) decreased by 28.0% from the same period last year to 655 million yen. The progress rate against the 2.5 billion yen full-year plan was 26.2%, also falling below the five-year average of 62.4%.

Based on the first-half performance announced by the company and the unchanged 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 1.84 billion yen (compared to a loss of 143 million yen in the same period last year).

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit dropped to 345 million yen, a 32.7% decrease compared to the same period last year. The operating profit margin worsened from 1.8% in the same period last year to 1.2%.

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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 42,189 1,011 1,225 809 27.3 45.3 Nov 14, 2022 J-GAAP
Apr - Sep, 2023 45,810 630 910 696 23.8 118.6 Nov 13, 2023 J-GAAP
Apr - Sep, 2024 45,810 403 655 536 18.5 26.2 Nov 13, 2024 J-GAAP
YoY 0.0% -36.0% -28.0% -23.0% -22.3%

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 － 15 May 14, 2024 J-GAAP
Apr - Sep, 2024 Results 45,810 403 655 536 18.5 15 Nov 13, 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 51,159 -366 -143 465 16.0 13 May 14, 2024 J-GAAP
Oct - Mar, 2024 Guidance 53,190 1,697 1,845 1,164 40.4 15 Nov 13, 2024 J-GAAP
YoY +4.0% － － +150.3% +153.3%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 88,664 2,268 2,702 1,702 57.5 25 May 12, 2023 J-GAAP
Mar, 2024 96,969 264 767 1,161 39.9 26 May 14, 2024 J-GAAP
Mar, 2025 Guidance 99,000 2,100 2,500 1,700 59.0 30 May 14, 2024 J-GAAP
YoY +2.1% +695.5% +225.9% +46.4% +48.2%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 24,656 444 513 411 14.1 1.8 Nov 13, 2023 J-GAAP
Oct - Dec, 2023 25,216 -84 58 119 4.1 -0.3 Feb 13, 2024 J-GAAP
Jan - Mar, 2024 25,943 -282 -201 346 11.9 -1.1 May 14, 2024 J-GAAP
Apr - Jun, 2024 21,761 124 310 248 8.6 0.6 Aug 9, 2024 J-GAAP
Jul - Sep, 2024 24,049 279 345 288 10.0 1.2 Nov 13, 2024 J-GAAP
YoY -2.5% -37.2% -32.7% -29.9% -29.3%

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