Hibiya Engineering (1982) Q3 2024 earnings summary

Executive summary

• 9M FY3/2024 net sales rose 5.5% YoY to ¥54,095 million, while operating profit fell 33.2% to ¥1,980 million and parent-attributable profit fell 21.9% to ¥1,874 million.

• Orders increased 26.5% YoY to ¥79,030 million, supported by data center and large redevelopment projects.

Financial highlights

• Gross profit declined 8.0% YoY to ¥8,305 million; SG&A rose to ¥6,324 million from ¥6,064 million.

• Ordinary profit decreased 26.1% YoY to ¥2,643 million; profit before tax was ¥2,679 million and parent-attributable profit was ¥1,874 million.

• Comprehensive income increased 86.0% YoY to ¥3,837 million, including ¥1,930 million of other comprehensive income.

Outlook and guidance

• FY3/2024 forecast unchanged: net sales ¥85,000 million, operating profit ¥5,000 million, ordinary profit ¥5,500 million and parent-attributable profit ¥3,800 million.

• Full-year EPS forecast is ¥165.60; forecast changes from the prior announcement: none.

• FY3/2024 annual dividend estimate remains ¥86 per share, including ¥43 per share at the second-quarter payment point; no change to the latest estimate.