CENTRAL AUTOMOTIVE PRODUCTS LTD., First Half Ordinary Profit Increases by 6%, Current Fiscal Year Dividend Revised Upward by 3 yen

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Thu Nov 14, 2024 2:20 pm JST Earnings

8117 CENTRAL AUTOMOTIVE PRODUCTS LTD. 【J-GAAP】

Earnings Report

CENTRAL AUTOMOTIVE PRODUCTS LTD. <8117> [TSE-S] announced its financial results in the afternoon session on November 14th (14:20). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) increased by 6.1% from the same period last year, reaching 5.92 billion yen. The progress rate against the 11.8 billion yen full-year plan was 50.2%, also surpassing the five-year average of 46.6%.

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 3.6% from the same period last year, reaching 5.87 billion yen.

At the same time, the company has increased its planned annual dividend for the current fiscal year from the original plan of 135 yen to 138 yen (compared to 130 yen in the previous period).

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit grew by 12.4% from the same period last year, reaching 3.3 billion yen. The operating profit margin rose from 25.7% in the same period last year to 27.8%.

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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	16,156	3,394	3,718	2,564	139.7	41.5	Nov 11, 2022	J-GAAP
Apr - Sep, 2023	19,252	4,992	5,587	3,865	210.3	49.6	Nov 10, 2023	J-GAAP
Apr - Sep, 2024	19,439	5,172	5,926	4,171	226.7	50.2	Nov 14, 2024	J-GAAP
YoY	+1.0%	+3.6%	+6.1%	+7.9%	+7.8%

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	19,600	5,100	5,600	3,900	211.8	65	May 14, 2024	J-GAAP
Apr - Sep, 2024 Results	19,439	5,172	5,926	4,171	226.7	68	Nov 14, 2024	J-GAAP
Revision Rate	-0.8%	+1.4%	+5.8%	+6.9%	+7.0%

Guidance Update

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	41,000	10,800	11,800	8,100	440.0	135	May 14, 2024	J-GAAP
Mar, 2025 New	41,000	10,800	11,800	8,100	440.0	138	Nov 14, 2024	J-GAAP
Revision Rate	0.0%	0.0%	0.0%	0.0%	0.0%

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	20,079	5,174	5,671	4,059	220.7	76	May 14, 2024	J-GAAP
Oct - Mar, 2024 Guidance	21,561	5,628	5,874	3,929	213.4	70	Nov 14, 2024	J-GAAP
YoY	+7.4%	+8.8%	+3.6%	-3.2%	-3.3%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	35,878	8,356	8,968	6,292	342.6	92	May 12, 2023	J-GAAP
Mar, 2024	39,331	10,166	11,258	7,924	430.9	130	May 14, 2024	J-GAAP
Mar, 2025 Guidance	41,000	10,800	11,800	8,100	440.0	138	Nov 14, 2024	J-GAAP
YoY	+4.2%	+6.2%	+4.8%	+2.2%	+2.1%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	10,325	2,654	2,944	2,056	111.9	25.7	Nov 10, 2023	J-GAAP
Oct - Dec, 2023	10,243	2,721	3,027	2,094	113.9	26.6	Feb 9, 2024	J-GAAP
Jan - Mar, 2024	9,836	2,453	2,644	1,965	106.9	24.9	May 14, 2024	J-GAAP
Apr - Jun, 2024	8,993	2,272	2,617	1,830	99.5	25.3	Aug 6, 2024	J-GAAP
Jul - Sep, 2024	10,446	2,900	3,309	2,341	127.2	27.8	Nov 14, 2024	J-GAAP
YoY	+1.2%	+9.3%	+12.4%	+13.9%	+13.7%