Chudenko (1941) Q2 2026 earnings summary

Executive summary

• Q2 FY2025 saw a year-on-year decrease in net sales to ¥95,754 million, but a record interim profit due to strong cost management and construction efficiency improvements.

• Operating profit rose 29.4% year-over-year to ¥10,582 million, with profit attributable to owners up 21.8% to ¥7,290 million.

• Comprehensive income surged 130.1% year-over-year to ¥10,312 million.

• Orders received increased significantly, especially in warehouses, offices, and hospitals, while net sales declined in some sectors.

• The company revised its FY2025 earnings forecast upward, expecting higher revenue and operating profit versus the previous year.

Financial highlights

• Q2 FY2025 consolidated net sales: ¥95.7B (97% of prior year); gross profit: ¥19.1B (20.0% margin, up ¥2.9B YoY).

• Operating profit: ¥10.5B (11.1% margin, up ¥2.4B YoY); ordinary profit: ¥10.9B (11.4% margin, up ¥1.8B YoY).

• Profit attributable to owners: ¥7.2B (7.6% margin, up ¥1.3B YoY); basic EPS: ¥134.64, up from ¥110.44 YoY.

• Orders received (parent): ¥109.5B, up ¥18.9B YoY; net sales (parent): ¥76.0B, down ¥3.4B YoY.

• Balance carried forward at Q2 end: ¥184.3B, up ¥31.1B YoY.

Outlook and guidance

• FY2025 consolidated net sales forecast: ¥232.0B (+¥10.1B YoY); operating profit: ¥24.0B (+¥2.3B YoY).

• Ordinary profit forecast: ¥24.8B (+¥1.3B YoY); profit attributable to owners: ¥16.1B (-19.1% YoY, due to prior year tax effects).

• Orders received and net sales (parent) revised upward; orders expected to rise by ¥10.4B, net sales by ¥5.1B.

• Balance carried forward projected at a record high for FY2025.

• Annual dividend forecast for FY2025: ¥130 per share, up from ¥120 in the previous year.