Central Glass (4044) Q2 2025 earnings summary

Executive summary

• Six-month net sales fell 2.4% year over year to ¥66,430 million despite proactive sales efforts.

• Operating profit declined 47.3% to ¥2,502 million as lower electrolyte sales, higher costs and LCM effects weighed on results.

• Profit attributable to owners of parent fell 23.2% to ¥2,135 million; comprehensive income declined 23.5% to ¥3,595 million.

Financial highlights

• Ordinary profit decreased 34.0% to ¥3,412 million; gross profit was ¥16,495 million, down from ¥18,897 million.

• Basic earnings per share were ¥86.17, compared with ¥112.28 in the prior year.

• Prior-year extraordinary losses from sales of affiliated companies did not recur, partly cushioning the decline in profit attributable to owners.

Outlook and guidance

• FY2025 net sales guidance was cut ¥2.6bn to ¥142.4bn, operating profit ¥0.5bn to ¥7.0bn, and ordinary profit ¥0.2bn to ¥7.8bn; net income guidance remains ¥5.5bn.

• Electrolyte sales are expected to recover gradually in H2, but volumes are forecast to remain significantly below the initial plan.

• Net income guidance includes a planned loss on transfer of UK subsidiary shares and planned sales of listed cross-shareholdings.

• FY2025 segment forecasts: Electronic Materials sales ¥24.8bn / operating profit ¥3.0bn; Energy Materials ¥12.1bn / loss ¥3.0bn; Glass ¥59.2bn / profit ¥1.9bn.

• Full-year EPS is forecast at ¥221.90.