OKUMURA ENGINEERING corp., First Half Ordinary Profit Increases by 38%, July-September Ordinary Profit Increases by 82%

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Thu Nov 14, 2024 3:30 pm JST Earnings

6229 OKUMURA ENGINEERING corp. 【J-GAAP】

Earnings Report

OKUMURA ENGINEERING corp. <6229> [TSE-S] announced its financial results after the market closed on November 14th (15:30). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) expanded to 462 million yen, an increase of 37.9% compared to the same period last year. The progress rate against the 820 million yen full-year plan was 56.3%, also surpassing the four-year average of 47.0%.

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 decrease by 13.5% from the same period last year to 358 million yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit increased by 81.9% from the same period last year, reaching 131 million yen. The operating profit margin significantly improved from 2.4% in the same period last year to 6.4%.

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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	4,239	305	369	224	49.7	42.4	Nov 14, 2022	J-GAAP
Apr - Sep, 2023	4,446	288	335	231	51.1	44.7	Nov 14, 2023	J-GAAP
Apr - Sep, 2024	5,060	476	462	323	71.5	56.3	Nov 14, 2024	J-GAAP
YoY	+13.8%	+65.3%	+37.9%	+39.8%	+39.9%

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	5,250	505	515	365	80.7	0	May 15, 2024	J-GAAP
Apr - Sep, 2024 Results	5,060	476	462	323	71.5	0	Nov 14, 2024	J-GAAP
Revision Rate	-3.6%	-5.7%	-10.3%	-11.5%	-11.4%

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	5,038	379	414	280	61.9	40	May 15, 2024	J-GAAP
Oct - Mar, 2024 Guidance	5,090	309	358	237	52.3	40	Nov 14, 2024	J-GAAP
YoY	+1.0%	-18.5%	-13.5%	-15.4%	-15.5%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	9,164	823	870	767	169.8	40	May 15, 2023	J-GAAP
Mar, 2024	9,484	667	749	511	113.0	40	May 15, 2024	J-GAAP
Mar, 2025 Guidance	10,150	785	820	560	123.7	40	May 15, 2024	J-GAAP
YoY	+7.0%	+17.7%	+9.5%	+9.6%	+9.4%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	2,217	54	72	52	11.5	2.4	Nov 14, 2023	J-GAAP
Oct - Dec, 2023	2,597	283	257	196	43.4	10.9	Feb 14, 2024	J-GAAP
Jan - Mar, 2024	2,441	96	157	84	18.6	3.9	May 15, 2024	J-GAAP
Apr - Jun, 2024	2,359	303	331	234	51.8	12.8	Aug 9, 2024	J-GAAP
Jul - Sep, 2024	2,701	173	131	89	19.7	6.4	Nov 14, 2024	J-GAAP
YoY	+21.8%	+220.4%	+81.9%	+71.2%	+71.3%