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WAKACHIKU CONSTRUCTION CO.,LTD., First Half Ordinary Profit Decreases by 86%, July-September Ordinary Profit Decreases by 80%

Mon Nov 11, 2024 4:00 pm JST Earnings

1888 WAKACHIKU CONSTRUCTION CO.,LTD. 【J-GAAP】

Earnings Report

WAKACHIKU CONSTRUCTION CO.,LTD. <1888> [TSE-P] announced its financial results after the market closed on November 11th (16:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) significantly dropped by 85.7% from the same period last year to 498 million yen. The progress rate against the 6.1 billion yen full-year plan was 8.2%, also falling below the five-year average of 50.0%.

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 expand by 32.5% from the same period last year, reaching 5.6 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit significantly dropped to 361 million yen, a 79.8% decrease compared to the same period last year. The operating profit margin drastically worsened from 7.6% in the same period last year to 2.4%.

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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 40,872 3,354 3,723 2,365 185.5 56.9 Nov 10, 2022 J-GAAP
Apr - Sep, 2023 46,356 2,755 3,472 2,261 177.3 45.1 Nov 10, 2023 J-GAAP
Apr - Sep, 2024 35,183 461 498 233 18.4 8.2 Nov 11, 2024 J-GAAP
YoY -24.1% -83.3% -85.7% -89.7% -89.7%

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 35,183 461 498 233 18.4 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 48,561 4,221 4,227 2,831 222.0 120 May 14, 2024 J-GAAP
Oct - Mar, 2024 Guidance 63,617 5,639 5,602 3,867 304.3 126 Nov 11, 2024 J-GAAP
YoY +31.0% +33.6% +32.5% +36.6% +37.1%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 84,004 6,236 6,546 5,442 426.8 100 May 12, 2023 J-GAAP
Mar, 2024 94,917 6,976 7,699 5,092 399.3 120 May 14, 2024 J-GAAP
Mar, 2025 Guidance 98,800 6,100 6,100 4,100 322.7 126 May 14, 2024 J-GAAP
YoY +4.1% -12.6% -20.8% -19.5% -19.2%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 23,854 1,806 1,785 1,158 90.8 7.6 Nov 10, 2023 J-GAAP
Oct - Dec, 2023 25,347 2,217 2,070 1,367 107.2 8.7 Feb 8, 2024 J-GAAP
Jan - Mar, 2024 23,214 2,004 2,157 1,464 114.8 8.6 May 14, 2024 J-GAAP
Apr - Jun, 2024 16,698 20 137 32 2.6 0.1 Aug 8, 2024 J-GAAP
Jul - Sep, 2024 18,485 441 361 201 15.8 2.4 Nov 11, 2024 J-GAAP
YoY -22.5% -75.6% -79.8% -82.6% -82.6%

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