Godo Steel,Ltd., First Half Ordinary Profit Decreases by 36%, July-September Ordinary Profit Decreases by 46%

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Fri Nov 1, 2024 1:30 pm JST Earnings

5410 Godo Steel,Ltd. 【J-GAAP】

Earnings Report

Godo Steel,Ltd. <5410> [TSE-P] announced its financial results in the afternoon session on November 1st (13:30). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) dropped by 36.4% from the same period last year to 6.57 billion yen. The progress rate against the 16 billion yen full-year plan was 41.1%, also falling below the five-year average of 45.4%.

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 decrease by 5.4% from the same period last year to 9.42 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit dropped to 2.5 billion yen, a 45.9% decrease compared to the same period last year. The operating profit margin drastically worsened from 8.0% in the same period last year to 4.3%.

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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	116,504	3,769	4,630	3,453	236.1	29.2	Nov 2, 2022	J-GAAP
Apr - Sep, 2023	113,109	9,093	10,340	7,791	532.7	50.9	Nov 2, 2023	J-GAAP
Apr - Sep, 2024	102,383	5,441	6,573	4,853	331.8	41.1	Nov 1, 2024	J-GAAP
YoY	-9.5%	-40.2%	-36.4%	-37.7%	-37.7%

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	107,000	6,200	7,000	5,000	341.9	100	Aug 1, 2024	J-GAAP
Apr - Sep, 2024 Results	102,383	5,441	6,573	4,853	331.8	100	Nov 1, 2024	J-GAAP
Revision Rate	-4.3%	-12.2%	-6.1%	-2.9%	-2.9%

Guidance Update

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	220,000	14,500	16,000	11,500	786.3	240	Aug 1, 2024	J-GAAP
Mar, 2025 New	210,000	14,500	16,000	11,500	786.3	240	Nov 1, 2024	J-GAAP
Revision Rate	-4.5%	0.0%	0.0%	0.0%	0.0%

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	109,741	8,757	9,961	7,402	506.1	140	Apr 26, 2024	J-GAAP
Oct - Mar, 2024 Guidance	107,617	9,059	9,427	6,647	454.5	140	Nov 1, 2024	J-GAAP
YoY	-1.9%	+3.4%	-5.4%	-10.2%	-10.2%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	235,387	13,907	15,867	12,508	855.2	200	Apr 28, 2023	J-GAAP
Mar, 2024	222,850	17,850	20,301	15,193	1,038.8	280	Apr 26, 2024	J-GAAP
Mar, 2025 Guidance	210,000	14,500	16,000	11,500	786.3	240	Nov 1, 2024	J-GAAP
YoY	-5.8%	-18.8%	-21.2%	-24.3%	-24.3%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	52,301	4,197	4,634	3,575	244.5	8.0	Nov 2, 2023	J-GAAP
Oct - Dec, 2023	56,121	4,681	5,295	3,754	256.7	8.3	Feb 2, 2024	J-GAAP
Jan - Mar, 2024	53,620	4,076	4,666	3,648	249.4	7.6	Apr 26, 2024	J-GAAP
Apr - Jun, 2024	53,382	3,316	4,068	2,825	193.2	6.2	Aug 1, 2024	J-GAAP
Jul - Sep, 2024	49,001	2,125	2,505	2,028	138.7	4.3	Nov 1, 2024	J-GAAP
YoY	-6.3%	-49.4%	-45.9%	-43.3%	-43.3%