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HEIWA PAPER CO., LTD., First Half Ordinary Profit Decreases by 5%, July-September Ordinary Profit Decreases by 12%

Wed Nov 13, 2024 4:00 pm JST Earnings

9929 HEIWA PAPER CO., LTD. 【J-GAAP】

Earnings Report

HEIWA PAPER CO., LTD. <9929> [TSE-S] announced its financial results after the market closed on November 13th (16:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) decreased by 4.8% from the same period last year to 80 million yen. The progress rate against the 235 million yen full-year plan was 34.0%, almost the same as the five-year average of 35.9%.

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 13.1% from the same period last year, reaching 155 million yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit decreased to 46 million yen, a 11.5% decrease compared to the same period last year. The operating profit margin remained almost flat, changing from 1.2% in the same period last year to 1.2%.

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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 7,707 30 50 766 79.4 26.0 Nov 10, 2022 J-GAAP
Apr - Sep, 2023 7,787 51 84 36 3.9 38.0 Nov 13, 2023 J-GAAP
Apr - Sep, 2024 7,716 47 80 38 4.1 34.0 Nov 13, 2024 J-GAAP
YoY -0.9% -7.8% -4.8% +5.6% +4.4%

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 － 6 May 13, 2024 J-GAAP
Apr - Sep, 2024 Results 7,716 47 80 38 4.1 6 Nov 13, 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 8,337 107 137 100 10.6 6 May 13, 2024 J-GAAP
Oct - Mar, 2024 Guidance 9,084 118 155 105 11.1 6 Nov 13, 2024 J-GAAP
YoY +9.0% +10.3% +13.1% +5.0% +4.7%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 16,068 138 192 874 91.4 11 May 10, 2023 J-GAAP
Mar, 2024 16,124 158 221 136 14.4 12 May 13, 2024 J-GAAP
Mar, 2025 Guidance 16,800 165 235 143 15.1 12 May 13, 2024 J-GAAP
YoY +4.2% +4.4% +6.3% +5.1% +4.9%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 3,979 49 52 27 2.9 1.2 Nov 13, 2023 J-GAAP
Oct - Dec, 2023 4,128 62 90 66 7.0 1.5 Feb 13, 2024 J-GAAP
Jan - Mar, 2024 4,209 45 47 34 3.6 1.1 May 13, 2024 J-GAAP
Apr - Jun, 2024 3,769 0 34 9 1.0 0.0 Aug 8, 2024 J-GAAP
Jul - Sep, 2024 3,947 47 46 29 3.1 1.2 Nov 13, 2024 J-GAAP
YoY -0.8% -4.1% -11.5% +7.4% +6.1%

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