BML (4694) Q2 2025 earnings summary

Executive summary

• Net sales for 1H FY2025 rose 6.0% year-over-year to ¥75,628 million, with operating profit up 14.4% to ¥5,915 million and profit attributable to owners of parent up 23.1%.

• Growth driven by new customer acquisitions, price optimization, and improved profitability across core segments, despite higher depreciation from new laboratory operations.

• Strategic focus on DX initiatives, next-generation laboratories, and cost reduction measures.

Financial highlights

• Operating profit reached ¥5,915 million, up 14.4% year-over-year; ordinary profit was ¥6,118 million, up 14.2%.

• Profit attributable to owners of parent grew 23.1% to ¥4,219 million; comprehensive income rose 27.8% to ¥4,455 million.

• Basic earnings per share increased to ¥109.38 from ¥87.89 year-over-year.

• Cash flows from operating activities improved by ¥2,129 million; cash and cash equivalents at period end were ¥61,533 million.

Outlook and guidance

• Full-year FY2025 forecast maintained, with net sales expected to reach ¥148,000 million (up 3.4%) and EBITDA to increase by ¥1.1 billion to ¥18,000 million.

• Operating profit and net profit are forecast to decrease due to higher depreciation from new buildings.

• Annual dividend projected at ¥120 per share, with a payout ratio of 78.0%.

• No change to previously announced full-year forecasts.