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GS Yuasa Corporation, First Half Ordinary Profit Increases by 21%

Wed Nov 6, 2024 3:00 pm JST Earnings

6674 GS Yuasa Corporation 【J-GAAP】

Earnings Report

GS Yuasa Corporation <6674> [TSE-P] announced its financial results in the afternoon session on November 6th (15:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) increased by 20.7% from the same period last year, reaching 14.4 billion yen, exceeded the previous forecast of 12.5 billion yen.

The progress rate against the 44 billion yen full-year plan was 32.9%, exceeding the five-year average of 27.8%.

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 decrease by 7.7% from the same period last year to 29.5 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit grew by 10.4% from the same period last year, reaching 7.79 billion yen. The operating profit margin improved from 5.8% in the same period last year to 7.0%.

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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 235,224 8,224 6,015 1,713 21.3 24.8 Nov 8, 2022 J-GAAP
Apr - Sep, 2023 256,805 12,674 11,993 5,958 74.1 27.3 Nov 7, 2023 J-GAAP
Apr - Sep, 2024 264,505 15,722 14,479 9,409 93.8 32.9 Nov 6, 2024 J-GAAP
YoY +3.0% +24.0% +20.7% +57.9% +26.7%

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 263,000 13,000 12,500 6,000 59.8 20 May 10, 2024 J-GAAP
Apr - Sep, 2024 Results 264,505 15,722 14,479 9,409 93.8 20 Nov 6, 2024 J-GAAP
Revision Rate +0.6% +20.9% +15.8% +56.8% +56.8%

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 306,092 28,921 31,988 26,106 301.0 55 May 10, 2024 J-GAAP
Oct - Mar, 2024 Guidance 325,495 28,278 29,521 16,591 165.4 50 Nov 6, 2024 J-GAAP
YoY +6.3% -2.2% -7.7% -36.4% -45.1%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 517,735 31,500 24,213 13,925 173.1 50 May 11, 2023 J-GAAP
Mar, 2024 562,897 41,595 43,981 32,064 369.7 70 May 10, 2024 J-GAAP
Mar, 2025 Guidance 590,000 44,000 44,000 26,000 259.2 70 May 10, 2024 J-GAAP
YoY +4.8% +5.8% +0.0% -18.9% -29.9%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 136,265 7,838 7,058 4,309 53.6 5.8 Nov 7, 2023 J-GAAP
Oct - Dec, 2023 154,786 16,705 16,965 11,783 143.3 10.8 Feb 6, 2024 J-GAAP
Jan - Mar, 2024 151,306 12,216 15,023 14,323 165.2 8.1 May 10, 2024 J-GAAP
Apr - Jun, 2024 127,583 6,184 6,686 4,785 47.7 4.8 Aug 5, 2024 J-GAAP
Jul - Sep, 2024 136,922 9,538 7,793 4,624 46.1 7.0 Nov 6, 2024 J-GAAP
YoY +0.5% +21.7% +10.4% +7.3% -13.9%

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