Hioki EE (6866) Q2 2024 earnings summary

Executive summary

• Net sales for the six months ended June 30, 2024, decreased by 8.2% year-over-year to ¥18,662 million.

• Operating profit dropped 26.4% year-over-year to ¥3,344 million, and ordinary profit fell 23.6% to ¥3,614 million.

• Profit attributable to owners of parent declined 24.0% year-over-year to ¥2,620 million.

• Earnings per share for the period were ¥191.82, down from ¥252.45 in the prior year.

Financial highlights

• Gross profit for the six months was ¥9,141 million, compared to ¥9,605 million year-over-year.

• Selling, general and administrative expenses totaled ¥5,797 million, up from ¥5,060 million year-over-year.

• Comprehensive income for the period was ¥2,994 million, down from ¥3,749 million year-over-year.

• Total assets as of June 30, 2024, were ¥44,038 million, with net assets at ¥38,934 million.

• Equity ratio improved to 88.4% from 82.0% at the previous year-end.

Outlook and guidance

• Full-year net sales forecast is ¥40,000 million, up 2.2% year-over-year.

• Operating profit is projected at ¥8,000 million (up 0.6%), ordinary profit at ¥8,320 million (up 1.0%), and profit attributable to owners of parent at ¥6,360 million (up 0.5%).

• Full-year earnings per share forecast is ¥465.58.

• Annual dividend forecast raised to ¥200 per share, up from ¥180 in the previous year.