Resonac (4004) Q3 2024 earnings summary

Executive summary

• Net sales for Q1-Q3 2024 rose 9% year-on-year to ¥1,027.5 billion, with operating income turning positive to ¥58.9 billion from a loss in 2023, led by strong semiconductor and electronic materials performance.

• Net income attributable to owners reached ¥50.8 billion, up from a loss of ¥6.4 billion in the prior year, aided by gains on sales of fixed assets.

• Full-year 2024 forecast revised upward, with higher operating income expected.

Financial highlights

• Net sales for Q1-Q3 reached ¥1,027.5 billion, up ¥85.2 billion year-on-year.

• Operating income was ¥58.9 billion, up from a loss of ¥4.3 billion year-on-year.

• Net income attributable to owners was ¥50.8 billion, up from a loss of ¥6.4 billion year-on-year.

• EBITDA was ¥142.4 billion, up ¥64.9 billion year-on-year; EBITDA margin improved to 13.9%.

• Gross profit improved to ¥245.3 billion from ¥178.4 billion year-on-year.

Outlook and guidance

• Full-year 2024 net sales forecast at ¥1,382.0 billion, up ¥93.1 billion from 2023; operating income forecast at ¥77.5 billion, up ¥81.3 billion.

• EBITDA for 2024 projected at ¥188.3 billion, with margin rising to 13.6%.

• Net income attributable to owners forecast at ¥32.0 billion, EPS of ¥177.02.

• Annual dividend forecast maintained at ¥65 per share.

• Semiconductor and electronic materials expected to contribute 80% of full-year operating income.