Furuno Electric (6814) Q1 2025 earnings summary

Executive summary

• Net sales/revenue rose 18.2% year-over-year in Q1 to ¥28,196 million, driven by strong marine and industrial demand and favorable foreign exchange rates.

• Operating profit increased 80.7% year-over-year to ¥2,629 million, ordinary profit up 76.0% to ¥3,136 million, and profit attributable to owners of parent/shareholders up 12.2% to ¥1,280 million.

• All business segments reported higher sales, with notable profit recovery in the industrial segment and reduced losses in wireless LAN/handheld terminal operations.

• Upward revision of full-year financial forecasts due to higher-than-expected exchange rates and robust business performance.

Financial highlights

• Net sales: ¥28,196 million (+18.2% year-over-year); gross profit: ¥11,998 million (+20.3% year-over-year), gross margin improved to 42.6%.

• Operating profit: ¥2,629 million (+80.7% year-over-year), operating margin rose to 9.3%; ordinary profit: ¥3,136 million (+76.0% year-over-year).

• Profit attributable to owners of parent/shareholders: ¥1,280 million (+12.2% year-over-year); comprehensive income nearly doubled to ¥2,782 million.

• Total assets stood at ¥113,676 million, with equity ratio improving to 55.0%.

• Capital investment: ¥1,018 million (+55.0% year-over-year).

Outlook and guidance

• Full-year net sales/revenue forecast revised upward to ¥117,000 million (+1.9% year-over-year).

• Operating profit forecast raised to ¥6,500 million, ordinary profit to ¥8,000 million, and profit attributable to owners of parent to ¥4,000 million.

• Dividend forecast for FY2024/FY2025 increased to ¥60 per share.