TOYO ENGINEERING CORPORATION, First Half Ordinary Profit Decreases by 19%, July-September Ordinary Profit Decreases by 36%

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Thu Nov 14, 2024 11:30 am JST Earnings

6330 TOYO ENGINEERING CORPORATION 【J-GAAP】

Earnings Report

TOYO ENGINEERING CORPORATION <6330> [TSE-P] announced its financial results at noon (11:30) on November 14th. The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) decreased by 18.6% from the same period last year to 3.27 billion yen. The progress rate against the 7.5 billion yen full-year plan was 43.7%, also falling below the five-year average of 63.9%.

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 expand by 42.2% from the same period last year, reaching 4.22 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit dropped to 1.4 billion yen, a 36.2% decrease compared to the same period last year. The operating profit margin worsened from 3.7% in the same period last year to 1.8%.

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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	96,477	3,062	2,527	1,236	21.1	65.0	Nov 10, 2022	J-GAAP
Apr - Sep, 2023	117,055	3,222	4,026	2,364	40.4	57.6	Nov 9, 2023	J-GAAP
Apr - Sep, 2024	121,871	2,017	3,277	1,768	30.2	43.7	Nov 14, 2024	J-GAAP
YoY	+4.1%	-37.4%	-18.6%	-25.2%	-25.2%

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 15, 2024	J-GAAP
Apr - Sep, 2024 Results	121,871	2,017	3,277	1,768	30.2	0	Nov 14, 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	143,770	3,490	2,969	7,457	127.3	12	May 15, 2024	J-GAAP
Oct - Mar, 2024 Guidance	148,129	2,983	4,223	4,232	72.2	25	Nov 14, 2024	J-GAAP
YoY	+3.0%	-14.5%	+42.2%	-43.2%	-43.2%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	192,908	4,764	3,888	1,647	28.1	0	May 12, 2023	J-GAAP
Mar, 2024	260,825	6,712	6,995	9,821	167.6	12	May 15, 2024	J-GAAP
Mar, 2025 Guidance	270,000	5,000	7,500	6,000	102.4	25	May 15, 2024	J-GAAP
YoY	+3.5%	-25.5%	+7.2%	-38.9%	-38.9%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	62,322	2,315	2,200	1,096	18.7	3.7	Nov 9, 2023	J-GAAP
Oct - Dec, 2023	72,318	2,228	1,105	719	12.3	3.1	Feb 8, 2024	J-GAAP
Jan - Mar, 2024	71,452	1,262	1,864	6,738	115.0	1.8	May 15, 2024	J-GAAP
Apr - Jun, 2024	62,847	979	1,873	1,071	18.3	1.6	Aug 8, 2024	J-GAAP
Jul - Sep, 2024	59,024	1,038	1,404	697	11.9	1.8	Nov 14, 2024	J-GAAP
YoY	-5.3%	-55.2%	-36.2%	-36.4%	-36.5%