OYO (9755) Q4 2024 earnings summary

Executive summary

• Sales and profit increased year-over-year in FY12/24, with all categories exceeding revised forecasts announced in November.

• Strong order growth in disaster prevention, environment and energy, and international segments, driven by disaster recovery and offshore wind power projects.

• Dividend sharply increased (58 yen in 2023 to 86 yen in 2024), with continued share repurchases and a strong start toward medium-term plan targets.

Financial highlights

• Orders rose 19.6% YoY to 79,938 million yen; net sales up 12.9% YoY to 74,085 million yen.

• Gross profit increased 18% YoY to 22,979 million yen (GPM: 31.0%).

• Operating profit up 54.1% YoY to 4,380 million yen (OPM: 5.9%).

• Ordinary profit up 47.9% YoY to 5,316 million yen; profit attributable to owners of parent flat at 4,010 million yen.

• ROE at 5.3%, down 0.3pt YoY.

Outlook and guidance

• FY12/25 forecast: net sales to rise 1.2% to 75,000 million yen; operating profit to grow 2.7% to 4,500 million yen.

• Gross profit margin expected to improve to 32.0%; OPM to 6.0%.

• Ordinary profit and profit attributable to owners of parent forecast to decline due to absence of one-time gains in FY12/24.

• Dividend forecast maintained at 86 yen per share.