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Kewpie Corporation, December-August (Third Quarter Cumulative) Ordinary Profit Increases by 2.1 times, June-Augus Ordinary Profit Increases by 58%

Thu Oct 3, 2024 3:00 pm JST Earnings

2809 Kewpie Corporation 【J-GAAP】

Earnings Report

Kewpie Corporation <2809> [TSE-P] announced its financial results after the market closed on October 3rd (15:00). The consolidated ordinary profit for the cumulative third quarter of the fiscal year ending November 2024 (December 2023 to August 2024) surged by 2.1 times that of the same period last year, reaching 32.1 billion yen. The progress rate against the 36.1 billion yen full-year plan was 89.1%, also surpassing the five-year average of 77.5%.

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 September to November period (4Q) is expected to decrease by 27.5% from the same period last year to 3.91 billion yen.

In the most recent three-month period, from June to August (3Q), the consolidated ordinary profit increased by 57.7% from the same period last year, reaching 11.8 billion yen. The operating profit margin significantly improved from 5.6% in the same period last year to 8.8%.

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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
Dec - Aug, 2021 318,214 21,407 22,945 14,541 104.6 84.2 Oct 7, 2022 J-GAAP
Dec - Aug, 2022 335,897 13,341 15,083 11,081 79.7 73.6 Oct 5, 2023 J-GAAP
Dec - Aug, 2023 360,911 29,815 32,182 19,756 142.1 89.1 Oct 3, 2024 J-GAAP
YoY +7.4% +123.5% +113.4% +78.3% +78.3%

Current Period Guidance

Second Half Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Jun - Nov, 2023 234,704 12,848 12,938 8,377 60.3 27 Jan 10, 2024 J-GAAP
Jun - Nov, 2024 Guidance 249,166 15,118 15,794 8,187 58.9 31 Jul 4, 2024 J-GAAP
YoY +6.2% +17.7% +22.1% -2.3% -2.3%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Nov, 2022 430,304 25,433 27,249 16,033 115.3 47 Jan 10, 2023 J-GAAP
Nov, 2023 455,086 19,694 20,490 13,174 94.8 50 Jan 10, 2024 J-GAAP
Nov, 2024 Guidance 486,000 34,000 36,100 20,700 148.9 54 Jul 4, 2024 J-GAAP
YoY +6.8% +72.6% +76.2% +57.1% +57.1%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jun - Aug, 2023 115,515 6,495 7,531 6,284 45.2 5.6 Oct 5, 2023 J-GAAP
Sep - Nov, 2023 119,189 6,353 5,407 2,093 15.1 5.3 Jan 10, 2024 J-GAAP
Dec - Feb, 2023 114,632 8,149 8,849 6,038 43.4 7.1 Apr 5, 2024 J-GAAP
Mar - May, 2024 122,202 10,733 11,457 6,475 46.6 8.8 Jul 4, 2024 J-GAAP
Jun - Aug, 2024 124,077 10,933 11,876 7,243 52.1 8.8 Oct 3, 2024 J-GAAP
YoY +7.4% +68.3% +57.7% +15.3% +15.3%

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