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

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%

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