Sompo Holdings, Inc., The Current Fiscal Year Ordinary Profit Revised Upward to an Unexpected 13% Increase, Adds to Record High Profit, Dividend Revised Upward by 20 yen

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Tue Nov 19, 2024 4:30 pm JST Earnings

8630 Sompo Holdings, Inc. 【J-GAAP】

Earnings Report

Sompo Holdings, Inc. <8630> [TSE-P] announced its financial results after the market closed on November 19th (16:30). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) expanded to 346 billion yen, an increase of 91.4% compared to the same period last year.

In addition, the full-year consolidated ordinary profit has been revised upward by 71.9%, from the previous forecast of 320 billion yen to 550 billion yen (compared to 488 billion yen in the previous period), record profits reach two consecutive terms, turning to a 12.7% increase in the consolidated ordinary profit outlook.

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 drop by 33.8% from the same period last year to 203 billion yen.

In light of the strong performance, the company has increased its planned annual dividend for the current fiscal year from the original plan of 112 yen to 132 yen (compared to 300 yen before the 1-to-3 stock split in the previous period).

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit surged to 3.9 times that of the same period last year, reaching 202 billion yen.

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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	2,525,759	ー	-88,057	-77,138	-75.6	ー	Nov 18, 2022	J-GAAP
Apr - Sep, 2023	2,659,605	ー	181,061	131,525	132.3	37.1	Nov 17, 2023	J-GAAP
Apr - Sep, 2024	2,962,950	ー	346,641	262,230	267.1	63.0	Nov 19, 2024	J-GAAP
YoY	+11.4%	－	+91.4%	+99.4%	+101.9%

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	ー	ー	ー	ー	－	56	May 20, 2024	J-GAAP
Apr - Sep, 2024 Results	2,962,950	ー	346,641	262,230	267.1	56	Nov 19, 2024	J-GAAP
Revision Rate	－	－	－	－	－

Guidance Update

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	ー	ー	320,000	230,000	238.8	112	May 20, 2024	J-GAAP
Mar, 2025 New	ー	ー	550,000	400,000	415.2	132	Nov 19, 2024	J-GAAP
Revision Rate	－	－	+71.9%	+73.9%	+73.9%

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	2,274,041	ー	306,973	284,529	287.1	50	May 20, 2024	J-GAAP
Oct - Mar, 2024 Guidance	ー	ー	203,359	137,770	143.0	76	Nov 19, 2024	J-GAAP
YoY	－	－	-33.8%	-51.6%	-50.2%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	4,525,869	ー	49,504	26,413	26.1	86.67	May 19, 2023	J-GAAP
Mar, 2024	4,933,646	ー	488,034	416,054	419.8	100	May 20, 2024	J-GAAP
Mar, 2025 Guidance	ー	ー	550,000	400,000	415.2	132	Nov 19, 2024	J-GAAP
YoY	－	－	+12.7%	-3.9%	-1.1%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	1,210,117	ー	52,312	31,485	31.7	0.0	Nov 17, 2023	J-GAAP
Oct - Dec, 2023	1,188,978	ー	251,359	191,522	193.0	0.0	Feb 14, 2024	J-GAAP
Jan - Mar, 2024	1,085,063	ー	55,614	93,007	93.9	0.0	May 20, 2024	J-GAAP
Apr - Jun, 2024	1,522,502	ー	143,746	120,038	121.5	0.0	Aug 9, 2024	J-GAAP
Jul - Sep, 2024	1,440,448	ー	202,895	142,192	144.8	0.0	Nov 19, 2024	J-GAAP
YoY	+19.0%	－	+287.9%	+351.6%	+357.4%