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Sumitomo Forestry Co.,Ltd., January-September (Third Quarter Cumulative) Ordinary Profit Increases by 44%, July-September Ordinary Profit Increases by 48%

Thu Oct 31, 2024 3:00 pm JST Earnings

1911 Sumitomo Forestry Co.,Ltd. 【J-GAAP】

Earnings Report

Sumitomo Forestry Co.,Ltd. <1911> [TSE-P] announced its financial results after the market closed on October 31st (15:00). The consolidated ordinary profit for the cumulative third quarter of the fiscal year ending December 2024 (January to September) expanded to 142 billion yen, an increase of 43.5% compared to the same period last year. The progress rate against the 193 billion yen full-year plan was 74.1%, exceeding the three-year average of 66.4%.

Based on the third-quarter cumulative performance announced by the company and the unchanged full-year plan, our calculation indicates that the consolidated ordinary profit for the October to December period (4Q) is expected to decrease by 16.3% from the same period last year to 50 billion yen.

In the most recent three-month period, from July to September (3Q), the consolidated ordinary profit increased by 48.2% from the same period last year, reaching 47.7 billion yen. The operating profit margin improved from 7.8% in the same period last year to 9.6%.

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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
Jan - Sep, 2022 1,206,293 111,109 141,870 82,718 138.0 72.8 Oct 31, 2022 J-GAAP
Jan - Sep, 2023 1,232,884 97,615 99,579 63,797 105.2 62.7 Oct 31, 2023 J-GAAP
Jan - Sep, 2024 1,492,337 139,226 139,592 83,222 135.6 72.3 Oct 31, 2024 J-GAAP
YoY +21.0% +42.6% +40.2% +30.4% +28.8%

Current Period Guidance

Second Half Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Jul - Dec, 2023 916,686 81,029 91,555 57,355 94.3 21.67 Feb 14, 2024 J-GAAP
Jul - Dec, 2024 Guidance 1,113,584 88,926 100,041 60,851 99.1 26.66 Aug 8, 2024 J-GAAP
YoY +21.5% +9.7% +9.3% +6.1% +5.1%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Dec, 2022 1,669,707 158,253 194,994 108,672 181.3 41.67 Feb 14, 2023 J-GAAP
Dec, 2023 1,733,169 146,258 158,921 102,170 168.0 41.67 Feb 14, 2024 J-GAAP
Dec, 2024 Guidance 2,095,000 180,000 193,000 115,000 187.3 48.33 Aug 8, 2024 J-GAAP
YoY +20.9% +23.1% +21.4% +12.6% +11.5%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 416,401 32,386 32,213 18,982 31.3 7.8 Oct 31, 2023 J-GAAP
Oct - Dec, 2023 500,285 48,643 59,342 38,373 63.1 9.7 Feb 14, 2024 J-GAAP
Jan - Mar, 2024 453,632 39,529 38,670 21,457 35.0 8.7 Apr 30, 2024 J-GAAP
Apr - Jun, 2024 527,784 51,545 54,289 32,692 53.3 9.8 Aug 8, 2024 J-GAAP
Jul - Sep, 2024 510,921 48,152 46,633 29,073 47.4 9.4 Oct 31, 2024 J-GAAP
YoY +22.7% +48.7% +44.8% +53.2% +51.2%

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