Fudo Tetra Corporation (1813) Q2 2024 earnings summary

Executive summary

• Revenue for the six months ended September 30, 2023, increased by 11.7% year-over-year to ¥33,424 million, driven by higher order intake and improved sales in key segments.

• Operating income rose 60.2% year-over-year to ¥1,463 million, and net income attributable to shareholders increased 57.5% to ¥1,153 million.

• The construction industry saw steady public investment and a recovery in private investment, but continued to face cost pressures from high material and energy prices and labor shortages.

Financial highlights

• Gross profit increased to ¥5,602 million from ¥4,890 million year-over-year.

• Ordinary income rose to ¥1,660 million, up 58.2% year-over-year.

• Comprehensive income for the period was ¥1,451 million, up 56.0% year-over-year.

• EPS for the period was ¥75.75, compared to ¥48.12 in the prior year.

Outlook and guidance

• Full-year revenue is forecast at ¥73,000 million, with operating income of ¥3,650 million and net income of ¥2,300 million, unchanged from previous guidance.

• Dividend forecast remains at ¥60 per share for the year.