INFRONEER Holdings (5076) Q2 2026 earnings summary

Executive summary

• H1 FY26 net sales reached ¥424.5bn, business profit ¥24.4bn, EBITDA ¥43.3bn and attributable profit ¥24.6bn; sales, business profit, EBITDA and net income were records since establishment.

• Full-year forecasts were raised following the Sumitomo Mitsui Construction integration; sales, business profit, EBITDA, net income and dividend were forecast at record highs.

Financial highlights

• H1 net sales rose from ¥380.7bn YoY; business profit rose from ¥14.6bn, EBITDA from ¥31.7bn and net income from ¥8.1bn.

• Attributable profit increased 203.0% YoY to ¥24.6bn, partly reflecting valuation gains on investment assets; basic EPS was ¥93.39 versus ¥31.09.

• Gross profit was ¥59.7bn, operating profit ¥23.7bn and profit before tax ¥35.0bn; comprehensive income reached ¥35.5bn, including ¥10.8bn of other comprehensive income.

Outlook and guidance

• FY26 forecast: net sales ¥1,133.0bn, business profit ¥79.2bn, EBITDA ¥122.0bn, operating profit ¥71.5bn, profit before tax ¥82.4bn and attributable profit ¥55.4bn.

• Revised guidance raised sales to ¥1.133tn from ¥1.131tn, business profit to ¥79.2bn from ¥77.3bn and EBITDA to ¥122.0bn from ¥120.1bn.

• Forecast EPS was ¥212.01; progress was 37.5% for sales, 30.8% for business profit and 44.3% for attributable profit.

• Common-share dividend forecast rose to ¥85 per share, comprising ¥30 at H1 and ¥55 at year-end; the planned payout ratio was 40%.