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KITANO CONSTRUCTION CORP., First Half Ordinary Profit Increases by 39%, July-September Ordinary Profit Increases by 74%

Mon Nov 11, 2024 3:30 pm JST Earnings

1866 KITANO CONSTRUCTION CORP. 【J-GAAP】

Earnings Report

KITANO CONSTRUCTION CORP. <1866> [TSE-S] announced its financial results after the market closed on November 11th (15:30). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) expanded to 2.49 billion yen, an increase of 39.5% compared to the same period last year. The progress rate against the 3.5 billion yen full-year plan was 71.1%, also surpassing the five-year average of 34.0%.

Based on the first-half performance announced by the company and the unchanged full-year plan, our calculation indicates that the consolidated ordinary profit for the October to March period (second half) is expected to significant drop by 69.3% from the same period last year to 1.01 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit increased by 74.5% from the same period last year, reaching 1.72 billion yen. The operating profit margin significantly improved from 4.3% in the same period last year to 7.8%.

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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 34,419 1,506 2,047 1,460 236.3 47.0 Nov 11, 2022 J-GAAP
Apr - Sep, 2023 38,616 1,510 1,785 1,324 226.7 35.2 Nov 10, 2023 J-GAAP
Apr - Sep, 2024 37,589 2,103 2,490 2,070 348.3 71.1 Nov 11, 2024 J-GAAP
YoY -2.7% +39.3% +39.5% +56.3% +53.7%

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 － 0 May 14, 2024 J-GAAP
Apr - Sep, 2024 Results 37,589 2,103 2,490 2,070 348.3 0 Nov 11, 2024 J-GAAP
Revision Rate － － － － －

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
Jul - Sep, 2023 18,731 799 991 765 131.0 4.3 Nov 10, 2023 J-GAAP
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
YoY +13.3% +106.9% +74.5% +90.6% +87.3%

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