NIPPON STEEL, Apr-Dec (Cumulative 3Q) Net Income Decreases by 18%, Exceeds Full-Year Plan

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Thu Feb 6, 2025 3:30 pm JST Earnings

5401 NIPPON STEEL CORPORATION 【IFRS】

Earnings Report

NIPPON STEEL CORPORATION <5401> [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) decreased 17.9% from the same period last year to 362 billion yen. However, the progress rate toward the full-year plan of 310 billion yen is 116.8%, already exceeding the target and also exceeding the five-year average of 78.2%.

Based on the cumulative third-quarter performance announced by the company and the unchanged full-year plan, our calculation indicates that the consolidated net income/loss for the January to March period (4Q) is expected to turn into a loss of 52 billion yen (compared to a profit of 108 billion yen in the same period last year).

In the most recent three-month period, from October to December (3Q), the consolidated net income decreased to 118 billion yen, a 15.6% decrease compared to the same period last year. However, the operating profit margin remained almost flat, changing from 8.7% in the same period last year to 8.8%.

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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	5,961,682	761,844	748,281	517,144	561.6	86.3	Feb 9, 2023	IFRS
Apr - Dec, 2023	6,641,816	618,683	608,085	440,914	478.8	79.6	Feb 7, 2024	IFRS
Apr - Dec, 2024	6,552,498	566,125	548,013	362,077	368.0	ー	Feb 6, 2025	IFRS
YoY	-1.3%	-8.5%	-9.9%	-17.9%	-23.1%

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	4,455,676	354,868	347,930	249,137	270.6	85	May 9, 2024	IFRS
Oct - Mar, 2024 Guidance	4,220,265	ー	ー	66,653	63.8	80	Nov 7, 2024	IFRS
YoY	-5.3%	－	－	-73.2%	-76.4%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	7,975,586	883,646	866,849	694,016	753.7	180	May 10, 2023	IFRS
Mar, 2024	8,868,097	778,662	763,972	549,372	596.6	160	May 9, 2024	IFRS
Mar, 2025 Guidance	8,600,000	ー	ー	310,000	296.6	160	Nov 7, 2024	IFRS
YoY	-3.0%	－	－	-43.6%	-50.3%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Oct - Dec, 2023	2,229,395	194,889	192,043	140,679	152.8	8.7	Feb 7, 2024	IFRS
Jan - Mar, 2024	2,226,281	159,979	155,887	108,458	117.8	7.2	May 9, 2024	IFRS
Apr - Jun, 2024	2,191,509	236,977	231,549	157,559	169.3	10.8	Aug 1, 2024	IFRS
Jul - Sep, 2024	2,188,226	138,776	132,705	85,788	89.6	6.3	Nov 7, 2024	IFRS
Oct - Dec, 2024	2,172,763	190,372	183,759	118,730	120.7	8.8	Feb 6, 2025	IFRS
YoY	-2.5%	-2.3%	-4.3%	-15.6%	-21.0%