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Nabtesco Corporation, January-September (Third Quarter Cumulative) Net Income Decreases by 57%, July-September Net Income Decreases by 62%

Thu Oct 31, 2024 4:00 pm JST Earnings

6268 Nabtesco Corporation 【IFRS】

Earnings Report

Nabtesco Corporation <6268> [TSE-P] announced its financial results (based on IFRS) after the market closed on October 31st (16:00). The consolidated net income for the cumulative third quarter of the fiscal year ending December 2024 (January to September) significantly dropped by 57.4% from the same period last year to 5.65 billion yen. The progress rate against the 9.3 billion yen full-year plan was 60.8%, also falling below the five-year average of 86.5%.

Based on the third-quarter cumulative performance announced by the company and the unchanged full-year plan, our calculation indicates that the consolidated net income for the October to December period (4Q) is expected to surge by 2.9 times that of the same period last year, reaching 3.64 billion yen.

In the most recent three-month period, from July to September (3Q), the consolidated net income significantly dropped to 1.45 billion yen, a 62.1% decrease compared to the same period last year. The operating profit margin worsened from 5.3% in the same period last year to 4.1%.

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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
Jan - Sep, 2022 218,932 11,484 16,892 10,622 88.5 107.2 Oct 31, 2022 IFRS
Jan - Sep, 2023 243,584 12,948 21,072 13,293 110.7 82.2 Oct 31, 2023 IFRS
Jan - Sep, 2024 229,830 9,634 9,940 5,659 47.1 67.6 Oct 31, 2024 IFRS
YoY -5.6% -25.6% -52.8% -57.4% -57.4%

Current Period Guidance

Second Half Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Jul - Dec, 2023 170,634 8,686 10,144 5,102 42.5 40 Feb 13, 2024 IFRS
Jul - Dec, 2024 Guidance 171,209 7,074 6,861 5,096 42.4 40 Jul 31, 2024 IFRS
YoY +0.3% -18.6% -32.4% -0.1% -0.2%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Dec, 2022 308,691 18,097 15,763 9,464 78.9 78 Feb 10, 2023 IFRS
Dec, 2023 333,631 17,376 25,629 14,554 121.3 80 Feb 13, 2024 IFRS
Dec, 2024 Guidance 323,700 13,500 14,700 9,300 77.4 80 Apr 30, 2024 IFRS
YoY -3.0% -22.3% -42.6% -36.1% -36.1%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 80,587 4,258 5,587 3,841 32.0 5.3 Oct 31, 2023 IFRS
Oct - Dec, 2023 90,047 4,428 4,557 1,261 10.5 4.9 Feb 13, 2024 IFRS
Jan - Mar, 2024 72,181 3,991 5,131 2,640 22.0 5.5 Apr 30, 2024 IFRS
Apr - Jun, 2024 80,310 2,435 2,708 1,564 13.0 3.0 Jul 31, 2024 IFRS
Jul - Sep, 2024 77,339 3,208 2,101 1,455 12.1 4.1 Oct 31, 2024 IFRS
YoY -4.0% -24.7% -62.4% -62.1% -62.1%

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