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Mitsubishi Materials Corporation, July-September (2Q) Ordinary Profit Decreases by 45%

Fri Nov 8, 2024 3:30 pm JST Earnings

5711 Mitsubishi Materials Corporation 【J-GAAP】

Earnings Report

Mitsubishi Materials Corporation <5711> [TSE-P] announced its financial results after the market closed on November 8th (15:30). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) expanded to 24.9 billion yen, an increase of 35.3% compared to the same period last year. However, The progress rate against the 63 billion yen full-year plan was 39.5%, also falling below the five-year average of 53.4%.

Based on the first-half performance announced by the company and the unchanged full-year plan, our calculation indicates that the consolidated ordinary profit for the October to March period (second half) is expected to grow by 6.7% from the same period last year, reaching 38 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit dropped to 6.28 billion yen, a 45.0% decrease compared to the same period last year. However, the operating profit margin improved from 2.3% in the same period last year to 3.1%.

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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 831,981 29,560 23,025 23,624 180.8 91.0 Nov 10, 2022 J-GAAP
Apr - Sep, 2023 716,199 11,950 18,418 11,120 85.1 34.0 Nov 9, 2023 J-GAAP
Apr - Sep, 2024 989,592 27,581 24,915 24,669 188.8 39.5 Nov 8, 2024 J-GAAP
YoY +38.2% +130.8% +35.3% +121.8% +121.8%

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 ー ー ー ー － 50 May 14, 2024 J-GAAP
Apr - Sep, 2024 Results 989,592 27,581 24,915 24,669 188.8 50 Nov 8, 2024 J-GAAP
Revision Rate － － － － －

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 824,443 11,326 35,684 18,673 142.9 47 May 14, 2024 J-GAAP
Oct - Mar, 2024 Guidance 960,408 13,419 38,085 20,331 155.6 50 Nov 8, 2024 J-GAAP
YoY +16.5% +18.5% +6.7% +8.9% +8.9%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 1,625,933 50,076 25,306 20,330 155.6 50 May 12, 2023 J-GAAP
Mar, 2024 1,540,642 23,276 54,102 29,793 228.1 94 May 14, 2024 J-GAAP
Mar, 2025 Guidance 1,950,000 41,000 63,000 45,000 344.4 100 May 14, 2024 J-GAAP
YoY +26.6% +76.1% +16.4% +51.0% +51.0%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 353,539 8,159 11,436 6,202 47.5 2.3 Nov 9, 2023 J-GAAP
Oct - Dec, 2023 365,386 3,460 25,233 13,480 103.2 0.9 Feb 9, 2024 J-GAAP
Jan - Mar, 2024 459,057 7,866 10,451 5,193 39.8 1.7 May 14, 2024 J-GAAP
Apr - Jun, 2024 513,701 12,810 18,627 20,954 160.4 2.5 Aug 7, 2024 J-GAAP
Jul - Sep, 2024 475,891 14,771 6,288 3,715 28.4 3.1 Nov 8, 2024 J-GAAP
YoY +34.6% +81.0% -45.0% -40.1% -40.1%

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