Kawasaki Heavy Industries, The Current Fiscal Year Net Income Revised Upward by 7%, Exceeded Record Profit Forecast

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Fri Feb 7, 2025 11:30 am JST Earnings

7012 Kawasaki Heavy Industries,Ltd. 【IFRS】

Earnings Report

Kawasaki Heavy Industries,Ltd. <7012> [TSE Prime] announced its financial results (based on IFRS) at noon (11:30) on February 7th. The consolidated net income/loss for the cumulative third quarter of the fiscal year ending March 2025 (April to December) turned into a profit of 44.1 billion yen (compared to a loss of 13.4 billion yen in the same period last year).

In addition, the full-year consolidated net income has been revised upward 6.8%, from the previous forecast of 73 billion yen to 78 billion yen (compared to 25.3 billion yen in the previous period), increasing the growth rate from 2.9 times to 3.1 times. The company has further increased its previous forecast of record profits for the first time in two years.

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 8.4%, from the previous forecast of 59.3 billion yen to 64.3 billion yen (compared to 48.7 billion yen in the same period of the previous year), increasing the growth rate from 21.8% to 32.0%.

In the most recent three-month period, from October to December (3Q), the consolidated net income surged 3.1 times that of the same period last year, reaching 30.4 billion yen.

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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	1,196,330	ー	72,127	52,512	313.6	102.5	Feb 10, 2023	IFRS
Apr - Dec, 2023	1,229,069	ー	-17,931	-13,480	-80.5	ー	Feb 9, 2024	IFRS
Apr - Dec, 2024	1,407,362	ー	64,462	44,163	263.6	64.5	Feb 7, 2025	IFRS
YoY	+14.5%	－	－	－	－

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	1,295,817	ー	71,264	59,333	354.2	70	Nov 8, 2024	IFRS
Oct - Mar, 2024 New	1,275,817	ー	76,264	64,333	384.0	70	Feb 7, 2025	IFRS
Revision Rate	-1.5%	－	+7.0%	+8.4%	+8.4%

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	2,180,000	ー	95,000	73,000	435.8	140	Nov 8, 2024	IFRS
Mar, 2025 New	2,160,000	ー	100,000	78,000	465.6	140	Feb 7, 2025	IFRS
Revision Rate	-0.9%	－	+5.3%	+6.8%	+6.8%

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	1,079,946	ー	66,451	48,723	290.9	30	May 9, 2024	IFRS
Oct - Mar, 2024 Guidance	1,275,817	ー	76,264	64,333	384.0	70	Feb 7, 2025	IFRS
YoY	+18.1%	－	+14.8%	+32.0%	+32.0%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	1,725,609	ー	70,349	53,029	316.6	90	May 10, 2023	IFRS
Mar, 2024	1,849,287	ー	31,980	25,377	151.5	50	May 9, 2024	IFRS
Mar, 2025 Guidance	2,160,000	ー	100,000	78,000	465.6	140	Feb 7, 2025	IFRS
YoY	+16.8%	－	+212.7%	+207.4%	+207.3%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Oct - Dec, 2023	459,728	ー	16,540	9,866	58.9	0.0	Feb 9, 2024	IFRS
Jan - Mar, 2024	620,218	ー	49,911	38,857	232.0	0.0	May 9, 2024	IFRS
Apr - Jun, 2024	444,227	ー	25,885	15,375	91.8	0.0	Aug 6, 2024	IFRS
Jul - Sep, 2024	439,956	ー	-2,149	-1,708	-10.2	0.0	Nov 8, 2024	IFRS
Oct - Dec, 2024	523,179	ー	40,726	30,496	182.1	0.0	Feb 7, 2025	IFRS
YoY	+13.8%	－	+146.2%	+209.1%	+209.1%