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

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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	414.7	80.1	Feb 9, 2023	J-GAAP
Apr - Dec, 2023	61,276	3,418	3,803	2,777	478.0	75.0	Feb 13, 2024	J-GAAP
Apr - Dec, 2024	59,169	2,614	2,901	2,330	388.6	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	445.0	110	May 14, 2024	J-GAAP
Oct - Mar, 2024 Guidance	48,411	1,197	1,010	330	54.3	100	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	327.8	110	May 12, 2023	J-GAAP
Mar, 2024	84,964	4,804	5,073	3,902	673.6	110	May 14, 2024	J-GAAP
Mar, 2025 Guidance	86,000	3,300	3,500	2,400	395.0	100	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	250.1	8.4	Feb 13, 2024	J-GAAP
Jan - Mar, 2024	23,688	1,386	1,270	1,125	194.2	5.9	May 14, 2024	J-GAAP
Apr - Jun, 2024	16,359	450	761	612	106.9	2.8	Aug 9, 2024	J-GAAP
Jul - Sep, 2024	21,230	1,653	1,729	1,458	245.3	7.8	Nov 11, 2024	J-GAAP
Oct - Dec, 2024	21,580	511	411	260	43.4	2.4	Feb 12, 2025	J-GAAP
YoY	-4.8%	-73.2%	-79.6%	-82.1%	-82.7%