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TAKAMATSU CONSTRUCTION GROUP CO., LTD., The Current Fiscal Year Ordinary Profit Revised Downward by 14%

Wed Nov 13, 2024 4:00 pm JST Earnings

1762 TAKAMATSU CONSTRUCTION GROUP CO., LTD. 【J-GAAP】

Earnings Report

TAKAMATSU CONSTRUCTION GROUP CO., LTD. <1762> [TSE-P] announced its financial results after the market closed on November 13th (16:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) dropped by 37.6% from the same period last year to 2.14 billion yen.

In addition, the full-year consolidated ordinary profit has downwardly by 14.3%, from the previous forecast of 14 billion yen to 12 billion yen (compared to 11.3 billion yen in the previous period), leading to a reduction in the profit growth rate from 23.8% to 6.1%.

Based on the first-half performance announced by the company and the full-year plan, our calculation indicates that the consolidated ordinary profit for the October to March period (second half) is expected to grow by 25.1% from the same period last year, reaching 9.85 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit significantly dropped to 1.14 billion yen, a 53.7% decrease compared to the same period last year. The operating profit margin worsened from 3.3% in the same period last year to 1.9%.

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Actual Results

Accumulated Results 2nd Quarter
Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Progress Rate vs. First Half Announce Accounting Standards
Apr - Sep, 2022 128,807 2,830 2,971 1,378 39.6 25.2 Nov 9, 2022 J-GAAP
Apr - Sep, 2023 143,298 3,339 3,430 1,154 33.2 30.3 Nov 8, 2023 J-GAAP
Apr - Sep, 2024 162,133 2,588 2,141 531 15.3 17.8 Nov 13, 2024 J-GAAP
YoY +13.1% -22.5% -37.6% -54.0% -54.0%

First Half Results vs. Previous Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Apr - Sep, 2024 Guidance ー ー ー ー － 41 May 15, 2024 J-GAAP
Apr - Sep, 2024 Results 162,133 2,588 2,141 531 15.3 41 Nov 13, 2024 J-GAAP
Revision Rate － － － － －

Guidance Update

Full Year Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2025 Prev 350,000 15,000 14,000 8,000 229.8 82 May 15, 2024 J-GAAP
Mar, 2025 New 350,000 13,000 12,000 7,000 201.0 82 Nov 13, 2024 J-GAAP
Revision Rate 0.0% -13.3% -14.3% -12.5% -12.5%

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 169,382 8,312 7,880 8,011 230.1 55 May 15, 2024 J-GAAP
Oct - Mar, 2024 Guidance 187,867 10,412 9,859 6,469 185.8 41 Nov 13, 2024 J-GAAP
YoY +10.9% +25.3% +25.1% -19.2% -19.3%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 282,495 12,038 11,768 7,534 216.4 70 May 10, 2023 J-GAAP
Mar, 2024 312,680 11,651 11,310 9,165 263.3 82 May 15, 2024 J-GAAP
Mar, 2025 Guidance 350,000 13,000 12,000 7,000 201.0 82 Nov 13, 2024 J-GAAP
YoY +11.9% +11.6% +6.1% -23.6% -23.6%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 77,685 2,532 2,470 1,307 37.6 3.3 Nov 8, 2023 J-GAAP
Oct - Dec, 2023 80,411 3,256 3,009 2,410 69.2 4.0 Feb 7, 2024 J-GAAP
Jan - Mar, 2024 88,971 5,056 4,871 5,601 160.9 5.7 May 15, 2024 J-GAAP
Apr - Jun, 2024 78,130 981 997 166 4.8 1.3 Aug 7, 2024 J-GAAP
Jul - Sep, 2024 84,003 1,607 1,144 365 10.5 1.9 Nov 13, 2024 J-GAAP
YoY +8.1% -36.5% -53.7% -72.1% -72.1%

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