ITOCHU ENEX, The Current Fiscal Year Net Income Revised Upward to an Unexpected 12% Increase, Raises Record High Profit, Dividend Revised Upward by 2 yen

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Fri Jan 31, 2025 1:00 pm JST Earnings

8133 ITOCHU ENEX CO.,LTD. 【IFRS】

Earnings Report

ITOCHU ENEX CO.,LTD. <8133> [TSE Prime] announced its financial results (based on IFRS) in the afternoon session on January 31st (13:00). The consolidated net income for the cumulative third quarter of the fiscal year ending March 2025 (April to December) increased 5.3% from the same period last year, reaching 13.9 billion yen.

In addition, the full-year consolidated net income has been revised upward 14.8%, from the previous forecast of 13.5 billion yen to 15.5 billion yen (compared to 13.8 billion yen in the previous period), record profits reach ten consecutive terms, turning to a 11.6% increase in the consolidated net income outlook.

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 35.3%, from the previous forecast of 5.66 billion yen to 7.66 billion yen (compared to 4.97 billion yen in the same period of the previous year), increasing the growth rate from 13.9% to 54.2%.

In light of the strong performance, the company has increased its planned annual dividend for the current fiscal year from the original plan of 56 yen to 58 yen (compared to 54 yen in the previous period).

In the most recent three-month period, from October to December (3Q), the consolidated net income increased 41.1% from the same period last year, reaching 6.09 billion yen. The operating profit margin improved from 2.6% in the same period last year to 4.3%.

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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	762,988	16,950	18,072	10,799	95.7	78.5	Jan 31, 2023	IFRS
Apr - Dec, 2023	709,374	22,490	22,842	13,236	117.3	92.5	Jan 31, 2024	IFRS
Apr - Dec, 2024	678,344	22,989	23,806	13,933	123.5	91.6	Jan 31, 2025	IFRS
YoY	-4.4%	+2.2%	+4.2%	+5.3%	+5.3%

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	ー	8,820	8,738	5,663	50.2	28	Oct 31, 2024	IFRS
Oct - Mar, 2024 New	ー	12,320	12,438	7,663	68.0	30	Jan 31, 2025	IFRS
Revision Rate	－	+39.7%	+42.3%	+35.3%	+35.3%

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	ー	21,500	22,300	13,500	119.7	56	Apr 30, 2024	IFRS
Mar, 2025 New	ー	25,000	26,000	15,500	137.4	58	Jan 31, 2025	IFRS
Revision Rate	－	+16.3%	+16.6%	+14.8%	+14.8%

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	507,667	7,702	9,257	4,970	44.0	28	Apr 30, 2024	IFRS
Oct - Mar, 2024 Guidance	ー	12,320	12,438	7,663	68.0	30	Jan 31, 2025	IFRS
YoY	－	+60.0%	+34.4%	+54.2%	+54.3%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	1,012,018	21,368	23,036	13,832	122.5	50	Apr 28, 2023	IFRS
Mar, 2024	963,302	23,587	24,687	13,887	123.0	54	Apr 30, 2024	IFRS
Mar, 2025 Guidance	ー	25,000	26,000	15,500	137.4	58	Jan 31, 2025	IFRS
YoY	－	+6.0%	+5.3%	+11.6%	+11.7%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Oct - Dec, 2023	253,739	6,605	7,412	4,319	38.3	2.6	Jan 31, 2024	IFRS
Jan - Mar, 2024	253,928	1,097	1,845	651	5.8	0.4	Apr 30, 2024	IFRS
Apr - Jun, 2024	211,030	5,415	6,031	3,686	32.7	2.6	Jul 31, 2024	IFRS
Jul - Sep, 2024	226,194	7,265	7,531	4,151	36.8	3.2	Oct 31, 2024	IFRS
Oct - Dec, 2024	241,120	10,309	10,244	6,096	54.1	4.3	Jan 31, 2025	IFRS
YoY	-5.0%	+56.1%	+38.2%	+41.1%	+41.2%