Ferrotec Holdings Corporation, First Half Ordinary Profit Unexpectedly Revised Upward by 2%, Current Fiscal Year Dividend Revised Upward by 10 yen

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Thu Nov 14, 2024 3:30 pm JST Earnings

6890 Ferrotec Holdings Corporation 【J-GAAP】

Earnings Report

Ferrotec Holdings Corporation <6890> [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) was 15.4 billion yen, a 1.7% increase compared to the same period last year, resulting in an increase in profits compared to the previous forecast of a 4.7% decrease.

The progress rate against the 26 billion yen full-year plan was 59.5%, also surpassing the five-year average of 50.6%.

Based on the first-half performance announced by the company and the full-year plan, our calculation indicates that the consolidated ordinary profit for the October to March period (second half) is expected to decrease by 7.0% from the same period last year to 10.5 billion yen.

At the same time, the company has increased its planned annual dividend for the current fiscal year from the original plan of 100 yen to 110 yen (compared to 100 yen in the previous period).

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit decreased to 7.25 billion yen, a 4.4% decrease compared to the same period last year. The operating profit margin decreased from 11.1% in the same period last year to 9.8%.

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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	97,505	17,061	23,554	15,979	352.9	55.5	Nov 14, 2022	J-GAAP
Apr - Sep, 2023	105,494	13,035	15,217	8,390	178.8	57.3	Nov 14, 2023	J-GAAP
Apr - Sep, 2024	135,157	14,251	15,470	9,190	195.5	59.5	Nov 14, 2024	J-GAAP
YoY	+28.1%	+9.3%	+1.7%	+9.5%	+9.3%

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	120,000	13,000	14,500	8,500	180.8	50	Aug 14, 2024	J-GAAP
Apr - Sep, 2024 Results	135,157	14,251	15,470	9,190	195.5	55	Nov 14, 2024	J-GAAP
Revision Rate	+12.6%	+9.6%	+6.7%	+8.1%	+8.1%

Guidance Update

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	235,000	26,000	26,000	16,000	341.7	100	May 15, 2024	J-GAAP
Mar, 2025 New	265,000	26,000	26,000	16,000	341.7	110	Nov 14, 2024	J-GAAP
Revision Rate	+12.8%	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	116,936	11,837	11,320	6,764	144.0	50	May 15, 2024	J-GAAP
Oct - Mar, 2024 Guidance	129,843	11,749	10,530	6,810	145.4	55	Nov 14, 2024	J-GAAP
YoY	+11.0%	-0.7%	-7.0%	+0.7%	+1.0%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	210,810	35,042	42,448	29,702	644.8	105	May 15, 2023	J-GAAP
Mar, 2024	222,430	24,872	26,537	15,154	322.7	100	May 15, 2024	J-GAAP
Mar, 2025 Guidance	265,000	26,000	26,000	16,000	341.7	110	Nov 14, 2024	J-GAAP
YoY	+19.1%	+4.5%	-2.0%	+5.6%	+5.9%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	53,233	5,922	7,589	4,044	86.2	11.1	Nov 14, 2023	J-GAAP
Oct - Dec, 2023	62,772	7,891	8,049	5,074	108.1	12.6	Feb 14, 2024	J-GAAP
Jan - Mar, 2024	54,164	3,946	3,271	1,690	36.0	7.3	May 15, 2024	J-GAAP
Apr - Jun, 2024	61,110	7,015	8,217	4,849	103.2	11.5	Aug 14, 2024	J-GAAP
Jul - Sep, 2024	74,047	7,236	7,253	4,341	92.3	9.8	Nov 14, 2024	J-GAAP
YoY	+39.1%	+22.2%	-4.4%	+7.3%	+7.1%