MEIKO CONSTRUCTION CO.,LTD., First Half Ordinary Profit Increases by 34%, July-September Ordinary Profit Increases by 91%

Wed Oct 30, 2024 4:00 pm JST Earnings

1869 MEIKO CONSTRUCTION CO.,LTD. 【J-GAAP】

Earnings Report

MEIKO CONSTRUCTION CO.,LTD. <1869> [NSE-M] announced its financial results after the market closed on October 30th (16:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) expanded to 3.02 billion yen, an increase of 34.2% compared to the same period last year. The progress rate against the 5.4 billion yen full-year plan was 56.0%, also surpassing the five-year average of 41.4%.

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 drop by 33.4% from the same period last year to 2.37 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit increased by 91.0% from the same period last year, reaching 2.3 billion yen. The operating profit margin significantly improved from 5.7% in the same period last year to 10.5%.

Kabutan News

Actual Performance and Financial Trends

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	36,761M	2,415M	2,630M	1,862M	73.8	39.2	Nov 2, 2022	J-GAAP
Apr - Sep, 2023	40,029M	1,984M	2,252M	1,555M	61.6	38.7	Nov 2, 2023	J-GAAP
Apr - Sep, 2024	40,305M	2,720M	3,023M	2,053M	81.4	56.0	Oct 30, 2024	J-GAAP
YoY	+0.7%	+37.1%	+34.2%	+32.0%	+32.1%

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	40,305M	2,720M	3,023M	2,053M	81.3	18	Oct 28, 2024	J-GAAP
Apr - Sep, 2024 Results	40,305M	2,720M	3,023M	2,053M	81.4	18	Oct 30, 2024	J-GAAP
Revision Rate	0.0%	0.0%	0.0%	0.0%	+0.0%

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	46,189M	3,386M	3,568M	2,473M	98.0	19	May 9, 2024	J-GAAP
Guidance Oct - Mar, 2024	51,195M	2,280M	2,377M	1,747M	69.2	18	Oct 28, 2024	J-GAAP
YoY	+10.8%	-32.7%	-33.4%	-29.4%	-29.4%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	84,185M	6,331M	6,704M	4,657M	184.5	34	May 11, 2023	J-GAAP
Mar, 2024	86,218M	5,370M	5,820M	4,028M	159.6	36	May 9, 2024	J-GAAP
Guidance Mar, 2025	91,500M	5,000M	5,400M	3,800M	150.5	36	May 9, 2024	J-GAAP
YoY	+6.1%	-6.9%	-7.2%	-5.7%	-5.7%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	20,884M	1,193M	1,207M	843M	33.4	5.7	Nov 2, 2023	J-GAAP
Oct - Dec, 2023	23,727M	1,978M	2,113M	1,426M	56.5	8.3	Jan 29, 2024	J-GAAP
Jan - Mar, 2024	22,462M	1,408M	1,455M	1,047M	41.5	6.3	May 9, 2024	J-GAAP
Apr - Jun, 2024	18,374M	426M	718M	469M	18.6	2.3	Jul 31, 2024	J-GAAP
Jul - Sep, 2024	21,931M	2,294M	2,305M	1,584M	62.8	10.5	Oct 30, 2024	J-GAAP
YoY	+5.0%	+92.3%	+91.0%	+87.9%	+88.0%