F.C.C. (7296) Q2 2024 earnings summary

Executive summary

• H1 FY2024 revenue rose 9.2% YoY to ¥116,960 million; operating profit increased 52.3% to ¥6,453 million and profit attributable to owners of parent rose 77.1% to ¥5,977 million.

• FY2024 forecast was revised upward for revenue to ¥234,000 million, while operating profit remains forecast at ¥14,000 million.

Financial highlights

• H1 profit before income taxes increased 56.9% YoY to ¥8,980 million; profit was ¥6,168 million, up 77.3%.

• H1 basic EPS was ¥120.18, up ¥52.31 YoY; USD average exchange rate was ¥141.00 versus ¥133.98.

• FY2024 forecast: revenue ¥234,000 million (+6.9%), operating profit ¥14,000 million (+17.6%), profit attributable to owners of parent ¥11,000 million (+15.0%), and EPS ¥221.15 (+14.9%).

Outlook and guidance

• Revised FY2024 revenue forecast rose ¥7,000 million to ¥234,000 million; revised USD assumption is ¥140.50 versus ¥130.00 previously.

• FY2024 operating profit forecast remains ¥14,000 million; forecast operating margin is 6.0%, versus 6.2% previously.

• FY2024 forecast dividend is ¥60 per share, up ¥4 from FY2023; forecast consolidated payout ratio is 27.1%.