PENTA-OCEAN CONSTRUCTION, The Current Fiscal Year Ordinary Profit Revised Downward to an Unexpected 34% Decrease

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Fri Feb 7, 2025 3:30 pm JST Earnings

1893 PENTA-OCEAN CONSTRUCTION CO.,LTD. 【J-GAAP】

Earnings Report

PENTA-OCEAN CONSTRUCTION CO.,LTD. <1893> [TSE Prime] announced its financial results after the market closed on February 7th (15:30). The consolidated ordinary profit for the cumulative third quarter of the fiscal year ending March 2025 (April to December) decreased 23.8% from the same period last year to 14.2 billion yen.

In addition, the full-year consolidated ordinary profit has decreased 40.0%, from the previous forecast of 30 billion yen to 18 billion yen (compared to 27.2 billion yen in the previous period). This changes the outlook from an anticipated profit increase to a projection of a 33.9% decrease in profit.

Based on the full-year plan announced by the company after the downward revision, our estimate of the consolidated ordinary profit for the October to March period (2H) has decreased 71.8%, from the previous forecast of 16.7 billion yen to 4.7 billion yen (compared to 14.2 billion yen in the same period of the previous year). This changes the outlook from an anticipated profit increase to a projection of a 67.0% decrease in profit.

In the most recent three-month period, from October to December (3Q), the consolidated ordinary profit significantly dropped to 0.92 billion yen, a 83.8% decrease compared to the same period last year. The operating profit/loss margin drastically worsened from 4.7% in the same period last year to -0.2%.

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Actual Results

Accumulated Results 3rd Quarter

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Progress Rate vs. First Half	Announce	Accounting Standards
Apr - Dec, 2022	347,197	-7,322	-9,852	-7,263	-25.5	ー	Feb 10, 2023	J-GAAP
Apr - Dec, 2023	435,780	20,723	18,648	12,907	45.3	68.5	Feb 8, 2024	J-GAAP
Apr - Dec, 2024	516,015	14,767	14,214	9,141	32.4	79.0	Feb 7, 2025	J-GAAP
YoY	+18.4%	-28.7%	-23.8%	-29.2%	-28.6%

Guidance Update

Second Half Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Oct - Mar, 2024 Prev	326,953	17,399	16,708	10,114	35.9	12	Nov 7, 2024	J-GAAP
Oct - Mar, 2024 New	365,953	5,899	4,708	2,114	7.5	12	Feb 7, 2025	J-GAAP
Revision Rate	+11.9%	-66.1%	-71.8%	-79.1%	-79.1%

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	655,000	32,500	30,000	20,000	71.0	24	May 10, 2024	J-GAAP
Mar, 2025 New	694,000	21,000	18,000	12,000	42.6	24	Feb 7, 2025	J-GAAP
Revision Rate	+6.0%	-35.4%	-40.0%	-40.0%	-40.0%

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	339,147	15,813	14,259	9,069	31.8	24	May 10, 2024	J-GAAP
Oct - Mar, 2024 Guidance	365,953	5,899	4,708	2,114	7.5	12	Feb 7, 2025	J-GAAP
YoY	+7.9%	-62.7%	-67.0%	-76.7%	-76.4%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	502,206	4,119	1,415	684	2.4	24	May 12, 2023	J-GAAP
Mar, 2024	617,708	29,152	27,221	17,875	62.7	24	May 10, 2024	J-GAAP
Mar, 2025 Guidance	694,000	21,000	18,000	12,000	42.6	24	Feb 7, 2025	J-GAAP
YoY	+12.4%	-28.0%	-33.9%	-32.9%	-32.1%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Oct - Dec, 2023	157,219	7,384	5,686	4,101	14.4	4.7	Feb 8, 2024	J-GAAP
Jan - Mar, 2024	181,928	8,429	8,573	4,968	17.4	4.6	May 10, 2024	J-GAAP
Apr - Jun, 2024	154,349	7,213	7,348	5,222	18.4	4.7	Aug 6, 2024	J-GAAP
Jul - Sep, 2024	173,698	7,888	5,944	4,664	16.5	4.5	Nov 7, 2024	J-GAAP
Oct - Dec, 2024	187,968	-334	922	-745	-2.6	-0.2	Feb 7, 2025	J-GAAP
YoY	+19.6%	－	-83.8%	－	－