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TAIHEIYO CEMENT CORPORATION, The Current Fiscal Year Ordinary Profit Revised Downward by 9%

Tue Nov 12, 2024 2:30 pm JST Earnings

5233 TAIHEIYO CEMENT CORPORATION 【J-GAAP】

Earnings Report

TAIHEIYO CEMENT CORPORATION <5233> [TSE-P] announced its financial results in the afternoon session on November 12th (14:30). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) expanded to 35.3 billion yen, an increase of 75.8% compared to the same period last year.

However, the full-year consolidated ordinary profit has downwardly by 9.0%, from the previous forecast of 83.5 billion yen to 76 billion yen (compared to 59.4 billion yen in the previous period), leading to a reduction in the profit growth rate from 40.4% to 27.8%.

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 grow by 3.2% from the same period last year, reaching 40.6 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit increased by 37.7% from the same period last year, reaching 23.6 billion yen. The operating profit margin significantly improved from 7.1% in the same period last year to 10.8%.

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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 375,982 -313 -84 -16,455 -140.6 ー Nov 10, 2022 J-GAAP
Apr - Sep, 2023 418,555 17,752 20,116 13,617 116.3 33.8 Nov 9, 2023 J-GAAP
Apr - Sep, 2024 443,676 36,389 35,371 30,192 261.2 46.5 Nov 12, 2024 J-GAAP
YoY +6.0% +105.0% +75.8% +121.7% +124.7%

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 464,000 34,500 34,500 26,500 229.3 40 May 14, 2024 J-GAAP
Apr - Sep, 2024 Results 443,676 36,389 35,371 30,192 261.2 40 Nov 12, 2024 J-GAAP
Revision Rate -4.4% +5.5% +2.5% +13.9% +13.9%

Guidance Update

Full Year Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2025 Prev 960,000 84,000 83,500 62,000 554.6 80 May 14, 2024 J-GAAP
Mar, 2025 New 915,000 78,000 76,000 56,000 500.9 80 Nov 12, 2024 J-GAAP
Revision Rate -4.7% -7.1% -9.0% -9.7% -9.7%

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 467,721 38,718 39,357 29,656 254.3 35 May 14, 2024 J-GAAP
Oct - Mar, 2024 Guidance 471,324 41,611 40,629 25,808 230.9 40 Nov 12, 2024 J-GAAP
YoY +0.8% +7.5% +3.2% -13.0% -9.2%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 809,542 4,456 1,015 -33,206 -283.7 70 May 11, 2023 J-GAAP
Mar, 2024 886,276 56,470 59,473 43,273 371.1 70 May 14, 2024 J-GAAP
Mar, 2025 Guidance 915,000 78,000 76,000 56,000 500.9 80 Nov 12, 2024 J-GAAP
YoY +3.2% +38.1% +27.8% +29.4% +35.0%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 225,020 15,889 17,140 13,251 113.1 7.1 Nov 9, 2023 J-GAAP
Oct - Dec, 2023 241,619 24,110 23,718 15,180 129.8 10.0 Feb 8, 2024 J-GAAP
Jan - Mar, 2024 226,102 14,608 15,639 14,476 124.1 6.5 May 14, 2024 J-GAAP
Apr - Jun, 2024 208,852 11,048 11,761 13,528 117.1 5.3 Aug 8, 2024 J-GAAP
Jul - Sep, 2024 234,824 25,341 23,610 16,664 144.2 10.8 Nov 12, 2024 J-GAAP
YoY +4.4% +59.5% +37.7% +25.8% +27.4%

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