KOATSU GAS KOGYO CO., LTD., First Half Ordinary Profit Revised Downward to an Unexpected 6%Decrease

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Wed Nov 13, 2024 3:00 pm JST Earnings

4097 KOATSU GAS KOGYO CO., LTD. 【J-GAAP】

Earnings Report

KOATSU GAS KOGYO CO., LTD. <4097> [TSE-P] announced its financial results in the afternoon session on November 13th (15:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) decreased by 6.1% from the same period last year to 3.02 billion yen, resulting in a decrease in profits compared to the previous forecast of a 2.5% increase.

The progress rate against the 7.2 billion yen full-year plan was 42.0%, also falling below the five-year average of 46.9%.

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 grow by 21.5% from the same period last year, reaching 4.17 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit dropped to 971 million yen, a 34.3% decrease compared to the same period last year. The operating profit margin worsened from 5.7% in the same period last year to 5.1%.

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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	44,021	2,443	2,981	1,980	35.9	51.3	Nov 11, 2022	J-GAAP
Apr - Sep, 2023	44,808	2,620	3,219	2,219	40.2	48.4	Nov 14, 2023	J-GAAP
Apr - Sep, 2024	47,517	2,737	3,023	2,017	36.6	42.0	Nov 13, 2024	J-GAAP
YoY	+6.0%	+4.5%	-6.1%	-9.1%	-9.1%

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	48,000	2,900	3,300	2,200	39.9	10	May 15, 2024	J-GAAP
Apr - Sep, 2024 Results	47,517	2,737	3,023	2,017	36.6	10	Nov 13, 2024	J-GAAP
Revision Rate	-1.0%	-5.6%	-8.4%	-8.3%	-8.3%

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	48,467	3,117	3,438	2,284	41.4	11	May 15, 2024	J-GAAP
Oct - Mar, 2024 Guidance	52,483	3,863	4,177	2,783	50.4	10	Nov 13, 2024	J-GAAP
YoY	+8.3%	+23.9%	+21.5%	+21.8%	+21.9%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	91,469	5,116	5,809	3,941	71.4	18	May 12, 2023	J-GAAP
Mar, 2024	93,275	5,737	6,657	4,503	81.6	20	May 15, 2024	J-GAAP
Mar, 2025 Guidance	100,000	6,600	7,200	4,800	87.0	20	May 15, 2024	J-GAAP
YoY	+7.2%	+15.0%	+8.2%	+6.6%	+6.7%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	22,556	1,295	1,477	989	17.9	5.7	Nov 14, 2023	J-GAAP
Oct - Dec, 2023	24,651	1,923	2,081	1,471	26.7	7.8	Feb 14, 2024	J-GAAP
Jan - Mar, 2024	23,816	1,194	1,357	813	14.7	5.0	May 15, 2024	J-GAAP
Apr - Jun, 2024	23,665	1,529	2,052	1,388	25.2	6.5	Aug 9, 2024	J-GAAP
Jul - Sep, 2024	23,852	1,208	971	629	11.4	5.1	Nov 13, 2024	J-GAAP
YoY	+5.7%	-6.7%	-34.3%	-36.4%	-36.4%