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

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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%