Sumitomo Rubber, Last Fiscal Year's Net Income Exceeds Expectations, 4.6 times Increase in Net Income for The Current Fiscal Year, Dividend Raised by 12 yen

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Thu Feb 13, 2025 1:00 pm JST Earnings

5110 Sumitomo Rubber Industries, Ltd. 【IFRS】

Earnings Report

Sumitomo Rubber Industries, Ltd. <5110> [TSE Prime] announced its financial results (based on IFRS) in the afternoon session on February 13th (13:00). The consolidated net income for the fiscal year ending December 2024 dropped 73.4% from the previous period to 9.86 billion yen, although it exceeded the initial forecast of 1 billion yen. In the fiscal year ending December 2025, the profit is expected to surge 4.6 times the previous term, reaching 45 billion yen. This will be the fifth consecutive term of revenue growth.

At the same time, the company has decided to increase the dividend this fiscal year to 70 yen, an increase of 12 yen from the previous fiscal year.

In the most recent three-month period, from October to December (4Q), the consolidated net income dropped to 5.81 billion yen, a 40.9% decrease compared to the same period last year. The operating profit/loss margin drastically worsened from 7.1% in the same period last year to -0.1%.

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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	1,098,664	14,988	22,539	9,415	35.8	35	Feb 14, 2023	IFRS
Dec, 2023	1,177,399	64,490	62,745	37,048	140.9	58	Feb 14, 2024	IFRS
Dec, 2024	1,211,856	11,186	16,251	9,865	37.5	58	Feb 13, 2025	IFRS
YoY	+2.9%	-82.7%	-74.1%	-73.4%	-73.4%

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	1,200,000	5,000	ー	1,000	3.8	58	Nov 8, 2024	IFRS
Dec, 2024 Results	1,211,856	11,186	16,251	9,865	37.5	58	Feb 13, 2025	IFRS
Revision Rate	+1.0%	+123.7%	－	+886.5%	+887.1%

Current Period Guidance

H1 Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Jan - Jun, 2024	587,041	41,951	53,589	38,729	147.3	29	Aug 7, 2024	IFRS
Jan - Jun, 2025 Guidance	600,000	25,000	ー	13,000	49.4	35	Feb 13, 2025	IFRS
YoY	+2.2%	-40.4%	－	-66.4%	-66.4%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Dec, 2023	1,177,399	64,490	62,745	37,048	140.9	58	Feb 14, 2024	IFRS
Dec, 2024	1,211,856	11,186	16,251	9,865	37.5	58	Feb 13, 2025	IFRS
Dec, 2025 Guidance	1,250,000	84,000	ー	45,000	171.1	70	Feb 13, 2025	IFRS
YoY	+3.1%	+650.9%	－	+356.2%	+356.1%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Oct - Dec, 2023	326,697	23,047	16,287	9,843	37.4	7.1	Feb 14, 2024	IFRS
Jan - Mar, 2024	291,360	20,696	25,862	24,841	94.5	7.1	May 13, 2024	IFRS
Apr - Jun, 2024	295,681	21,255	27,727	13,888	52.8	7.2	Aug 7, 2024	IFRS
Jul - Sep, 2024	287,901	-30,466	-45,911	-34,679	-131.9	-10.6	Nov 8, 2024	IFRS
Oct - Dec, 2024	336,914	-299	8,573	5,815	22.1	-0.1	Feb 13, 2025	IFRS
YoY	+3.1%	－	-47.4%	-40.9%	-40.9%