Central Glass (4044) Q3 2024 earnings summary

Executive summary

• Net sales for the nine months ended December 31, 2024, decreased 12.7% year-over-year to ¥105,459 million, with operating profit down 20.1% to ¥8,434 million and profit attributable to owners of parent down 26.1% to ¥6,869 million.

• Comprehensive income dropped 45.8% year-over-year to ¥6,898 million for the nine-month period.

• The company revised its full-year forecast downward, expecting a 9.6% decline in net sales and a 47.9% drop in profit attributable to owners of parent for FY2024.

Financial highlights

• Gross profit for the nine months was ¥29,971 million, down from ¥31,306 million year-over-year.

• Earnings per share for the nine months was ¥277.21, compared to ¥375.34 in the prior year.

• Total assets as of December 31, 2024, were ¥205,858 million, down ¥8,546 million from March 31, 2024.

• Net assets increased to ¥121,003 million, with an equity ratio of 56.6%.

• R&D expenses rose 15.3% year-over-year to ¥5,566 million.

Outlook and guidance

• Full-year forecast for FY2024 revised: net sales expected at ¥145,000 million (down 9.6%), operating profit at ¥10,500 million (down 27.7%), and profit attributable to owners of parent at ¥6,500 million (down 47.9%).

• Earnings per share for the full year forecasted at ¥262.29.

• Dividend forecast for FY2024 is ¥170 per share, unchanged from the previous year.