Namura Shipbuilding (7014) Q1 2027 earnings summary

Executive summary

• Revenue rose 19.5% year-over-year to ¥43,585 million, with operating profit up 70.3% to ¥9,805 million and net profit attributable to shareholders up 61.0% to ¥7,345 million.

• Strong performance driven by yen depreciation and a shift to a product mix focused on large bulk carriers in the core shipbuilding segment.

Financial highlights

• Operating margin improved significantly, with operating profit up 70.3% and ordinary profit up 77.2% year-over-year.

• EPS for the quarter was ¥105.74, up from ¥65.75 a year earlier.

• Comprehensive income fell 53.6% year-over-year due to a decline in other comprehensive income items.

Outlook and guidance

• Full-year guidance maintained: revenue ¥170,000 million, operating profit ¥29,000 million, net profit ¥22,000 million, EPS ¥316.83.

• No change to previously announced dividend forecast; annual dividend expected to rise to ¥60 per share.

• Management notes uncertainty in forex and inflation as key variables for the remainder of the year.