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YOKOGAWA ELECTRIC CORPORATION, First Half Ordinary Profit Decreases by 3%

Tue Nov 5, 2024 3:30 pm JST Earnings

6841 YOKOGAWA ELECTRIC CORPORATION 【J-GAAP】

Earnings Report

YOKOGAWA ELECTRIC CORPORATION <6841> [TSE-P] announced its financial results after the market closed on November 5th (15:30). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) decreased by 3.2% from the same period last year to 35.8 billion yen. The progress rate against the 75 billion yen full-year plan was 47.9%, which was higher than the five-year average of 42.7%.

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 16.8% from the same period last year to 39.1 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit decreased to 18.7 billion yen, a 15.1% decrease compared to the same period last year. However, the operating profit margin rose from 15.2% in the same period last year to 15.6%.

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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 205,918 13,537 15,870 9,239 34.6 32.6 Nov 1, 2022 J-GAAP
Apr - Sep, 2023 254,498 33,707 37,076 35,053 132.5 44.1 Nov 7, 2023 J-GAAP
Apr - Sep, 2024 266,580 36,314 35,897 24,573 94.5 47.9 Nov 5, 2024 J-GAAP
YoY +4.7% +7.7% -3.2% -29.9% -28.7%

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 ー ー ー ー － 29 May 7, 2024 J-GAAP
Apr - Sep, 2024 Results 266,580 36,314 35,897 24,573 94.5 29 Nov 5, 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 285,654 45,093 47,022 26,632 101.4 23 May 7, 2024 J-GAAP
Oct - Mar, 2024 Guidance 296,420 38,686 39,103 24,427 93.9 29 Nov 5, 2024 J-GAAP
YoY +3.8% -14.2% -16.8% -8.3% -7.4%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 456,479 44,409 48,608 38,920 145.8 34 May 9, 2023 J-GAAP
Mar, 2024 540,152 78,800 84,098 61,685 234.8 40 May 7, 2024 J-GAAP
Mar, 2025 Guidance 563,000 75,000 75,000 49,000 188.3 58 May 7, 2024 J-GAAP
YoY +4.2% -4.8% -10.8% -20.6% -19.8%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 135,852 20,632 22,109 10,378 39.2 15.2 Nov 7, 2023 J-GAAP
Oct - Dec, 2023 138,591 24,673 23,939 17,060 64.8 17.8 Feb 6, 2024 J-GAAP
Jan - Mar, 2024 147,063 20,420 23,083 9,572 36.4 13.9 May 7, 2024 J-GAAP
Apr - Jun, 2024 128,924 14,826 17,131 10,054 38.7 11.5 Aug 6, 2024 J-GAAP
Jul - Sep, 2024 137,656 21,488 18,766 14,519 55.8 15.6 Nov 5, 2024 J-GAAP
YoY +1.3% +4.1% -15.1% +39.9% +42.3%

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