Central Glass (4044) Q1 2024 earnings summary

Executive summary

• Net sales for the quarter ended June 30, 2024, were ¥34,830 million, down 10.7% year-over-year.

• Operating profit rose 3.3% to ¥2,940 million, and ordinary profit increased 9.2% to ¥4,190 million year-over-year.

• Profit attributable to owners of parent was ¥3,012 million, up 6.4% from the prior year.

• Comprehensive income reached ¥4,346 million, a 2.4% increase year-over-year.

Financial highlights

• Gross profit improved to ¥10,079 million from ¥9,582 million year-over-year.

• Earnings per share (basic) increased to ¥121.57 from ¥114.25 year-over-year.

• Total assets stood at ¥213,047 million as of June 30, 2024, slightly down from ¥214,404 million at March 31, 2024.

• Net assets rose to ¥121,655 million, with an equity ratio of 54.6%.

Outlook and guidance

• Full-year net sales forecast is ¥156,000 million, down 2.7% year-over-year.

• Operating profit for the full year is projected at ¥11,000 million, down 24.3% year-over-year.

• Profit attributable to owners of parent is forecast at ¥10,000 million, a 19.9% decrease year-over-year.

• Full-year EPS is expected to be ¥403.55.

• Dividend forecast for the year is ¥170.00 per share.