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Azbil (6845) investor relations material
Azbil Q2 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Operating income rose significantly in H1 FY2025, exceeding plan, despite lower orders and net sales due to the FY2024 transfer of Azbil Telstar; excluding this effect, both orders and sales increased substantially.
Net sales for the six months ended September 2025 were ¥132,897 million, down 4.6% year-over-year, mainly due to the exclusion of Azbil Telstar from consolidation.
Operating income rose 21.0% to ¥17,718 million, and net income attributable to owners of parent increased 23.0% to ¥13,463 million, reflecting enhanced profitability and foreign exchange gains.
The full-year FY2025 financial plan was revised upward, projecting a fifth consecutive year of operating income growth, with robust BA and AA business performance and continued investments in human capital.
Dividend is set to increase for the eleventh consecutive year, and share repurchases and cancellations were completed to enhance shareholder returns.
Financial highlights
H1 FY2025 net sales: ¥132.8B (down ¥6.3B YoY, mainly due to subsidiary transfer); operating income: ¥17.7B (up ¥3.0B YoY); net income attributable to owners: ¥13.4B (up ¥2.5B YoY).
Gross margin improved by 4.2pp to 46.2%; operating margin rose to 13.3% from 10.5% YoY.
Ordinary income rose 24.9% to ¥18,320 million, and comprehensive income surged 63.8% to ¥16,721 million.
EPS for the period was ¥26.37, up from ¥20.74, adjusted for a 4-for-1 stock split.
Overseas sales ratio was 18.2%, with notable growth in North America but declines in Asia and China.
Outlook and guidance
FY2025 full-year net sales forecast: ¥298.0B (slight decrease due to subsidiary transfer); operating income: ¥45.5B (up ¥4.0B YoY); net income attributable to owners: ¥33.5B (down due to prior year’s extraordinary gain).
Segment guidance: BA sales ¥154.0B, AA sales ¥111.0B, LA sales ¥34.5B; all expected to meet or exceed initial forecasts.
Dividend planned at ¥26 per share, with DOE improving to 5.6%.
BA and AA segments are expected to maintain strong performance; LA segment to stabilize after the impact of the subsidiary transfer.
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