Adeka (4401) Q1 2024 earnings summary

Executive summary

• Q1 FY2023 net sales fell JPY 7.1B YoY to JPY 94.5B; operating profit declined JPY 1.6B to JPY 7.4B.document-source0

• Lower sales volume outweighed positive net pricing and foreign-exchange effects; the chemicals segment faced the most challenging conditions.document-source1

Financial highlights

• Current profit declined JPY 2.2B YoY to JPY 8.1B; profit attributable to owners of parent fell JPY 1.0B to JPY 5.1B.document-source0

• EPS decreased JPY 9.6 YoY to JPY 50.document-source0

Outlook and guidance

• FY2023 sales forecast remains JPY 426B; H1 was revised from JPY 202B to JPY 191B, with H2 raised from JPY 224B to JPY 235B.document-source7

• FY2023 operating profit forecast remains JPY 36B; H1 forecast is JPY 13.3B and H2 JPY 22.7B.document-source8

• FY2023 current profit forecast is JPY 35.5B and profit attributable to owners of parent JPY 21B; H1 forecasts were lowered and H2 forecasts raised.document-source8

• Food products' operating profit forecast increased JPY 600M for FY2023, with forecasts raised slightly in both halves.document-source9