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JFE Holdings, The Current Fiscal Year Net Income Revised Downward by 27%

Thu Feb 6, 2025 3:30 pm JST Earnings

5411 JFE Holdings,Inc. 【IFRS】

Earnings Report

JFE Holdings,Inc. <5411> [TSE Prime] announced its financial results (based on IFRS) after the market closed on February 6th (15:30). The consolidated net income for the cumulative third quarter of the fiscal year ending March 2025 (April to December) dropped 38.6% from the same period last year to 100 billion yen.

In addition, the full-year consolidated net income has decreased 26.9%, from the previous forecast of 130 billion yen to 95 billion yen (compared to 197 billion yen in the previous period), leading to an increase in the profit decline rate from 34.2% to 51.9%.

Based on the full-year plan announced by the company after the downward revision, our estimate of the consolidated net income for the October to March period (2H) has decreased 40.0%, from the previous forecast of 87.5 billion yen to 52.5 billion yen (compared to 87.3 billion yen in the same period of the previous year). This changes the outlook from an anticipated profit increase to a projection of a 39.9% decrease in profit.

In the most recent three-month period, from October to December (3Q), the consolidated net income grew 9.1% from the same period last year, reaching 57.6 billion yen. The operating profit margin improved from 5.9% in the same period last year to 7.1%.

Kabutan News

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 3,908,588 224,742 213,802 143,940 248.6 101.7 Feb 6, 2023 IFRS
Apr - Dec, 2023 3,865,747 240,615 226,351 162,922 270.2 84.3 Feb 6, 2024 IFRS
Apr - Dec, 2024 3,675,470 157,245 141,729 100,101 157.4 101.2 Feb 6, 2025 IFRS
YoY -4.9% -34.6% -37.4% -38.6% -41.8%

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 2,519,219 120,037 87,515 137.6 50 Nov 6, 2024 IFRS
Oct - Mar, 2024 New 2,449,219 80,037 52,515 82.6 50 Feb 6, 2025 IFRS
Revision Rate -2.8% -33.3% -40.0% -40.0%

Full Year Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2025 Prev 4,970,000 180,000 130,000 204.4 100 Nov 6, 2024 IFRS
Mar, 2025 New 4,900,000 140,000 95,000 149.4 100 Feb 6, 2025 IFRS
Revision Rate -1.4% -22.2% -26.9% -26.9%

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 2,598,044 122,657 113,023 87,330 143.0 50 May 7, 2024 IFRS
Oct - Mar, 2024 Guidance 2,449,219 80,037 52,515 82.6 50 Feb 6, 2025 IFRS
YoY -5.7% -29.2% -39.9% -42.3%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 5,268,794 225,086 210,282 162,621 280.7 80 May 8, 2023 IFRS
Mar, 2024 5,174,632 287,003 268,386 197,421 323.3 100 May 7, 2024 IFRS
Mar, 2025 Guidance 4,900,000 140,000 95,000 149.4 100 Feb 6, 2025 IFRS
YoY -5.3% -47.8% -51.9% -53.8%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Oct - Dec, 2023 1,289,159 76,269 70,988 52,831 87.6 5.9 Feb 6, 2024 IFRS
Jan - Mar, 2024 1,308,885 46,388 42,035 34,499 56.5 3.5 May 7, 2024 IFRS
Apr - Jun, 2024 1,211,141 44,704 39,570 27,516 43.3 3.7 Aug 5, 2024 IFRS
Jul - Sep, 2024 1,239,640 25,084 20,393 14,969 23.5 2.0 Nov 6, 2024 IFRS
Oct - Dec, 2024 1,224,689 87,457 81,766 57,616 90.6 7.1 Feb 6, 2025 IFRS
YoY -5.0% +14.7% +15.2% +9.1% +3.4%

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