MODEC, 23% Increase in Net Income, Update Record High for Second Consecutive Term, Increased Previous Year's Dividend by 20 yen, This Fiscal Year to Increase Dividend by 40 yen

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Thu Feb 13, 2025 12:30 pm JST Earnings

6269 MODEC,INC. 【IFRS】

Earnings Report

MODEC,INC. <6269> [TSE Prime] announced its financial results (based on IFRS) at noon (12:30) on February 13th. The consolidated net income for the fiscal year ending December 2024 surged by 2.5 times that of the previous term, reaching 34.8 billion yen, exceeding the previous forecast of 29 billion yen. In the fiscal year ending December 2025, the profit is expected to grow by 22.5% to 42.7 billion yen, marking the second consecutive term of record-high profits. This will be the third consecutive term of profit growth.

At the same time, the company increased the annual dividend for the previous term from 60 yen to 80 yen (compared to 20 yen in the prior term), and has decided to increase the dividend this fiscal year to 120 yen, an increase of 40 yen from the previous fiscal year.

In the most recent three-month period, from October to December (4Q), the consolidated net income grew 25.4% from the same period last year, reaching 10.4 billion yen. However, the operating profit margin significantly dropped from 10.5% in the same period last year to 6.2%.

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Actual Results

Historical Performance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Dec, 2022	363,593	9,997	7,277	4,960	88.0	0	Feb 14, 2023	IFRS
Dec, 2023	507,031	27,364	30,446	13,691	219.4	20	Feb 14, 2024	IFRS
Dec, 2024	662,088	51,066	48,706	34,857	510.3	80	Feb 13, 2025	IFRS
YoY	+30.6%	+86.6%	+60.0%	+154.6%	+132.6%

Full Year Results vs. Previous Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Dec, 2024 Guidance	623,930	42,079	42,079	29,020	424.9	60	Aug 8, 2024	IFRS
Dec, 2024 Results	662,088	51,066	48,706	34,857	510.3	80	Feb 13, 2025	IFRS
Revision Rate	+6.1%	+21.4%	+15.7%	+20.1%	+20.1%

Current Period Guidance

H1 Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Jan - Jun, 2024	302,373	30,066	29,277	19,970	292.4	30	Aug 8, 2024	IFRS
Jan - Jun, 2025 Guidance	ー	ー	ー	ー	－	60	Feb 13, 2025	IFRS
YoY	－	－	－	－	－

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Dec, 2023	507,031	27,364	30,446	13,691	219.4	20	Feb 14, 2024	IFRS
Dec, 2024	662,088	51,066	48,706	34,857	510.3	80	Feb 13, 2025	IFRS
Dec, 2025 Guidance	585,155	64,841	66,423	42,700	625.1	120	Feb 13, 2025	IFRS
YoY	-11.6%	+27.0%	+36.4%	+22.5%	+22.5%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Oct - Dec, 2023	135,230	14,151	16,347	8,321	133.3	10.5	Feb 14, 2024	IFRS
Jan - Mar, 2024	124,524	11,622	12,426	9,463	138.5	9.3	May 14, 2024	IFRS
Apr - Jun, 2024	177,849	18,444	16,851	10,507	153.8	10.4	Aug 8, 2024	IFRS
Jul - Sep, 2024	125,332	6,419	6,445	4,454	65.2	5.1	Nov 12, 2024	IFRS
Oct - Dec, 2024	234,383	14,581	12,984	10,433	152.7	6.2	Feb 13, 2025	IFRS
YoY	+73.3%	+3.0%	-20.6%	+25.4%	+14.6%