Hibiya Engineering (1982) Q3 2025 earnings summary

Executive summary

• 9M FY3/25 sales and profits increased YoY, while orders declined 26.7% amid selective order-taking; full-year guidance remained unchanged.

Financial highlights

• Net sales rose 5.0% YoY to ¥56,799 million; gross profit increased 22.1% to ¥10,140 million.

• Operating profit increased 78.2% to ¥3,529 million, ordinary profit rose 55.1% to ¥4,100 million, and profit attributable to owners of parent rose 65.8% to ¥3,106 million.

• Orders received totaled ¥57,926 million, down 26.7% YoY, reflecting a selective approach based on backlog and construction completion capacity.

• Basic EPS was ¥138.91, compared with ¥82.18 in the prior-year period.

Outlook and guidance

• FY3/25 forecasts were unchanged: orders ¥88.5bn, net sales ¥91.0bn, gross profit ¥15.3bn, operating profit ¥5.9bn, ordinary profit ¥6.6bn and parent-attributable profit ¥4.6bn.

• Large private-sector and air-conditioning projects are expected in Q4; full-year data-center orders are expected to exceed the prior-year result.

• Profit outcomes are aimed above forecast, supported by improved earnings at order receipt, streamlined construction and income from cross-shareholding sales.

• Forecast basic EPS is ¥204.46; annual dividend forecast is ¥88 per share, up from ¥86 in FY3/24.