Fukuyama Transporting (9075) Q4 2023 earnings summary

Executive summary

• FY2023 revenue rose to ¥293,358 million, while operating profit fell as transport revenue declined and fuel and other operating costs increased.

• Net income attributable to owners increased to ¥20,791 million; FY2024 guidance calls for lower operating profit, ordinary profit and net income.

Financial highlights

• Revenue was ¥293,358 million, up ¥2,092 million YoY; operating expenses rose ¥2,808 million to ¥271,983 million.

• Operating profit decreased ¥716 million to ¥21,375 million; operating margin fell to 7.3% from 7.6%.

• Ordinary profit was ¥22,985 million, down ¥210 million; ordinary margin declined to 7.8% from 8.0%.

• Net income attributable to owners increased ¥4,028 million to ¥20,791 million, or 124.0% of the prior-year result.

Outlook and guidance

• FY2024 revenue forecast is ¥295,600 million, 100.8% of FY2023; operating profit is projected at ¥19,300 million, 90.3%.

• FY2024 operating margin is forecast at 6.5%, versus 7.3% in FY2023; ordinary profit is projected at ¥21,000 million, or 91.4%.

• FY2024 ordinary margin is forecast at 7.1%, versus 7.8%; net income attributable to owners is projected at ¥13,900 million, or 66.9%.