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KITANO CONSTRUCTION, Apr-Dec (Cumulative 3Q) Ordinary Profit Decreases by 24%, Oct-Dec Ordinary Profit Decreases by 80%

Wed Feb 12, 2025 3:30 pm JST Earnings

1866 KITANO CONSTRUCTION CORP. 【J-GAAP】

Earnings Report

KITANO CONSTRUCTION CORP. <1866> [TSE Std] announced its financial results after the market closed on February 12th (15:30). The consolidated ordinary profit for the cumulative third quarter of the fiscal year ending March 2025 (April to December) decreased 23.7% from the same period last year to 2.9 billion yen. However, the progress rate toward the full-year plan of 3.5 billion yen was 82.9%, also surpassing the five-year average of 66.0%.

Based on the cumulative third-quarter performance announced by the company and the unchanged full-year plan, our calculation indicates that the consolidated ordinary profit for the January to March period (4Q) is expected to significant drop 52.8% from the same period last year to 0.59 billion yen.

In the most recent three-month period, from October to December (3Q), the consolidated ordinary profit significantly dropped to 0.41 billion yen, a 79.6% decrease compared to the same period last year. The operating profit margin drastically worsened from 8.4% in the same period last year to 2.4%.

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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 58,599 2,878 3,490 2,531 103.7 80.1 Feb 9, 2023 J-GAAP
Apr - Dec, 2023 61,276 3,418 3,803 2,777 119.5 75.0 Feb 13, 2024 J-GAAP
Apr - Dec, 2024 59,169 2,614 2,901 2,330 97.2 82.9 Feb 12, 2025 J-GAAP
YoY -3.4% -23.5% -23.7% -16.1% -18.7%

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 46,348 3,294 3,288 2,578 111.3 27.50 May 14, 2024 J-GAAP
Oct - Mar, 2024 Guidance 48,411 1,197 1,010 330 13.6 25 Nov 11, 2024 J-GAAP
YoY +4.5% -63.7% -69.3% -87.2% -87.8%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 85,277 3,931 4,358 1,988 81.9 27.50 May 12, 2023 J-GAAP
Mar, 2024 84,964 4,804 5,073 3,902 168.4 27.50 May 14, 2024 J-GAAP
Mar, 2025 Guidance 86,000 3,300 3,500 2,400 98.8 25 May 14, 2024 J-GAAP
YoY +1.2% -31.3% -31.0% -38.5% -41.4%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Oct - Dec, 2023 22,660 1,908 2,018 1,453 62.5 8.4 Feb 13, 2024 J-GAAP
Jan - Mar, 2024 23,688 1,386 1,270 1,125 48.6 5.9 May 14, 2024 J-GAAP
Apr - Jun, 2024 16,359 450 761 612 26.7 2.8 Aug 9, 2024 J-GAAP
Jul - Sep, 2024 21,230 1,653 1,729 1,458 61.3 7.8 Nov 11, 2024 J-GAAP
Oct - Dec, 2024 21,580 511 411 260 10.8 2.4 Feb 12, 2025 J-GAAP
YoY -4.8% -73.2% -79.6% -82.1% -82.7%

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