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FUJI OIL HOLDINGS INC., The Current Fiscal Year Ordinary Profit Revised Upward to an Unexpected 10% Increase

Mon Nov 11, 2024 3:30 pm JST Earnings

2607 FUJI OIL CO., LTD. 【J-GAAP】

Earnings Report

FUJI OIL HOLDINGS INC. <2607> [TSE-P] 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) significantly dropped by 71.5% from the same period last year to 2.36 billion yen, fell short of the previous forecast of 6.5 billion yen.

However, the full-year consolidated ordinary profit has been revised upward by 15.6%, from the previous forecast of 16 billion yen to 18.5 billion yen (compared to 16.7 billion yen in the previous period), turning to a 10.2% increase in the consolidated ordinary profit outlook.

Based on the first-half performance announced by the company and the full-year plan, our calculation indicates that the consolidated ordinary profit for the October to March period (second half) is expected to expand by 90.0% from the same period last year, reaching 16.1 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit/loss turned to a loss of 4.14 billion yen (compared to a profit of 5.02 billion yen in the same period last year). The operating profit/loss margin drastically worsened from 3.7% in the same period last year to -1.7%.

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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 268,398 5,065 5,363 3,227 37.6 55.3 Nov 9, 2022 J-GAAP
Apr - Sep, 2023 271,038 8,800 8,300 12,365 143.8 49.4 Nov 7, 2023 J-GAAP
Apr - Sep, 2024 315,957 5,971 3,751 2,009 23.4 20.3 Nov 11, 2024 IFRS
YoY － － － － －

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 315,000 9,000 6,500 4,000 46.5 26 Aug 9, 2024 J-GAAP
Apr - Sep, 2024 Results 315,957 5,971 3,751 2,009 23.4 26 Nov 11, 2024 IFRS
Revision Rate － － － － －

Guidance Update

Full Year Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2025 Prev 600,000 20,000 16,000 10,000 116.3 52 May 9, 2024 J-GAAP
Mar, 2025 New 645,000 23,500 18,500 12,000 139.6 52 Nov 11, 2024 J-GAAP
Revision Rate +7.5% +17.5% +15.6% +20.0% +20.0%

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 293,049 9,413 8,491 -5,841 -68.0 26 May 9, 2024 J-GAAP
Oct - Mar, 2024 Guidance 329,043 17,529 14,749 9,991 116.2 26 Nov 11, 2024 J-GAAP
YoY +12.3% +86.2% +73.7% － －

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 557,410 10,940 9,690 6,126 71.3 52 May 10, 2023 J-GAAP
Mar, 2024 564,087 18,213 16,791 6,524 75.9 52 May 9, 2024 J-GAAP
Mar, 2025 Guidance 645,000 23,500 18,500 12,000 139.6 52 Nov 11, 2024 J-GAAP
YoY +14.3% +29.0% +10.2% +83.9% +83.9%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 139,985 5,216 5,026 3,295 38.3 3.7 Nov 7, 2023 J-GAAP
Oct - Dec, 2023 150,500 4,097 3,329 -7,393 -86.0 2.7 Feb 8, 2024 J-GAAP
Jan - Mar, 2024 142,549 5,316 5,162 1,552 18.1 3.7 May 9, 2024 J-GAAP
Apr - Jun, 2024 152,366 7,932 7,091 5,258 61.2 5.2 Aug 9, 2024 IFRS
Jul - Sep, 2024 163,591 -1,961 -3,340 -3,249 -37.8 -1.2 Nov 11, 2024 IFRS
YoY － － － － －

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