Hitachi Construction Machinery, The Current Fiscal Year Net Income Revised Upward by 5%

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Mon Jan 27, 2025 3:30 pm JST Earnings

6305 Hitachi Construction Machinery Co., Ltd. 【IFRS】

Earnings Report

Hitachi Construction Machinery Co., Ltd. <6305> [TSE Prime] announced its financial results (based on IFRS) after the market closed on January 27th (15:30). The consolidated net income for the cumulative third quarter of the fiscal year ending March 2025 (April to December) decreased 12.9% from the same period last year to 61.8 billion yen.

However, the full-year consolidated net income has been revised upward 5.0%, from the previous forecast of 80 billion yen to 84 billion yen (compared to 93.2 billion yen in the previous period), and the declining rate is expected to decrease from 14.2% to 10.0%.

Based on the full-year plan announced by the company after the upward revision, our estimate of the consolidated net income for the October to March period (2H) is expected to increase 8.3%, from the previous forecast of 48.2 billion yen to 52.2 billion yen (compared to 35.7 billion yen in the same period of the previous year), increasing the growth rate from 34.8% to 46.0%.

In the most recent three-month period, from October to December (3Q), the consolidated net income surged 2.2 times that of the same period last year, reaching 30.1 billion yen. However, the operating profit margin decreased from 11.8% in the same period last year to 10.2%.

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Actual Results

Accumulated Results 3rd Quarter

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Progress Rate vs. First Half	Announce	Accounting Standards
Apr - Dec, 2022	902,748	87,208	70,788	43,055	202.5	61.5	Jan 27, 2023	IFRS
Apr - Dec, 2023	1,008,241	122,882	110,065	71,074	334.2	68.6	Jan 26, 2024	IFRS
Apr - Dec, 2024	991,277	104,488	100,226	61,878	290.9	74.2	Jan 27, 2025	IFRS
YoY	-1.7%	-15.0%	-8.9%	-12.9%	-13.0%

Guidance Update

Second Half Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Oct - Mar, 2024 Prev	684,263	79,686	72,507	48,253	226.9	110	Oct 25, 2024	IFRS
Oct - Mar, 2024 New	684,263	79,686	80,507	52,253	245.7	110	Jan 27, 2025	IFRS
Revision Rate	0.0%	0.0%	+11.0%	+8.3%	+8.3%

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	1,350,000	151,000	127,000	80,000	376.1	175	Oct 25, 2024	IFRS
Mar, 2025 New	1,350,000	151,000	135,000	84,000	394.9	175	Jan 27, 2025	IFRS
Revision Rate	0.0%	0.0%	+6.3%	+5.0%	+5.0%

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	740,165	85,600	75,682	35,794	168.3	65	Apr 24, 2024	IFRS
Oct - Mar, 2024 Guidance	684,263	79,686	80,507	52,253	245.7	110	Jan 27, 2025	IFRS
YoY	-7.6%	-6.9%	+6.4%	+46.0%	+46.0%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	1,264,927	136,645	115,013	70,175	330.0	110	Apr 26, 2023	IFRS
Mar, 2024	1,405,928	168,028	160,476	93,294	438.7	150	Apr 24, 2024	IFRS
Mar, 2025 Guidance	1,350,000	151,000	135,000	84,000	394.9	175	Jan 27, 2025	IFRS
YoY	-4.0%	-10.1%	-15.9%	-10.0%	-10.0%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Oct - Dec, 2023	342,478	40,454	25,271	13,574	63.8	11.8	Jan 26, 2024	IFRS
Jan - Mar, 2024	397,687	45,146	50,411	22,220	104.5	11.4	Apr 24, 2024	IFRS
Apr - Jun, 2024	328,217	32,504	39,067	24,583	115.6	9.9	Jul 26, 2024	IFRS
Jul - Sep, 2024	337,520	38,810	15,426	7,164	33.7	11.5	Oct 25, 2024	IFRS
Oct - Dec, 2024	325,540	33,174	45,733	30,131	141.7	10.2	Jan 27, 2025	IFRS
YoY	-4.9%	-18.0%	+81.0%	+122.0%	+121.9%