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ASAHI CONCRETE WORKS CO.,LTD., First Half Ordinary Profit Unexpectedly Revised Upward by 37%

Fri Nov 8, 2024 1:00 pm JST Earnings

5268 ASAHI CONCRETE WORKS CO.,LTD. 【J-GAAP】

Earnings Report

ASAHI CONCRETE WORKS CO.,LTD. <5268> [TSE-S] announced its financial results in the afternoon session on November 8th (13:00). The ordinary profit (non-consolidated) for the cumulative second quarter of the fiscal year ending March 2025 (April to September) expanded to 403 million yen, an increase of 36.6% compared to the same period last year, resulting in an increase in profits compared to the previous forecast of a 25.4% decrease.

The progress rate against the 480 million yen full-year plan was 84.0%, also surpassing the five-year average of 38.1%.

Based on the first-half performance announced by the company and the unchanged full-year plan, our calculation indicates that the ordinary profit for the October to March period (second half) is expected to significant drop by 55.2% from the same period last year to 77 million yen.

In the most recent three-month period, from July to September (2Q), the ordinary profit grew by 11.5% from the same period last year, reaching 223 million yen. The operating profit margin rose from 10.9% in the same period last year to 13.1%.

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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 3,001 137 192 139 10.6 44.7 Nov 9, 2022 J-GAAP
Apr - Sep, 2023 3,257 239 295 229 17.4 63.2 Nov 8, 2023 J-GAAP
Apr - Sep, 2024 3,288 348 403 279 21.2 84.0 Nov 8, 2024 J-GAAP
YoY +1.0% +45.6% +36.6% +21.8% +21.8%

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 3,300 170 220 150 11.4 － May 10, 2024 J-GAAP
Apr - Sep, 2024 Results 3,288 348 403 279 21.2 － Nov 8, 2024 J-GAAP
Revision Rate -0.4% +104.7% +83.2% +86.0% +86.1%

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 3,814 173 172 108 8.2 18 May 10, 2024 J-GAAP
Oct - Mar, 2024 Guidance 3,912 72 77 41 3.1 14 Nov 8, 2024 J-GAAP
YoY +2.6% -58.4% -55.2% -62.0% -62.1%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 6,584 345 430 311 23.7 13 May 12, 2023 J-GAAP
Mar, 2024 7,071 412 467 337 25.7 18 May 10, 2024 J-GAAP
Mar, 2025 Guidance 7,200 420 480 320 24.3 14 May 10, 2024 J-GAAP
YoY +1.8% +1.9% +2.8% -5.0% -5.3%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 1,835 200 200 169 12.9 10.9 Nov 8, 2023 J-GAAP
Oct - Dec, 2023 1,727 77 94 59 4.5 4.5 Feb 9, 2024 J-GAAP
Jan - Mar, 2024 2,087 96 78 49 3.7 4.6 May 10, 2024 J-GAAP
Apr - Jun, 2024 1,576 123 180 132 10.0 7.8 Aug 9, 2024 J-GAAP
Jul - Sep, 2024 1,712 225 223 147 11.2 13.1 Nov 8, 2024 J-GAAP
YoY -6.7% +12.5% +11.5% -13.0% -13.1%

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