San-Ai Obbli (8097) Q4 2026 earnings summary

Executive summary

• Net sales decreased 6.5% year-over-year to ¥611.6 billion, mainly due to lower petroleum product volumes, declining crude oil prices, and government-mandated fuel price reductions.

• Operating income rose 4.6% to ¥12.4 billion, driven by higher aviation fuel handling fees, and profit attributable to owners of parent increased 6.2% to ¥9.2 billion, exceeding forecasts.

• Ordinary profit increased 4.5% to ¥13.4 billion; comprehensive income rose to ¥10,225 million from ¥6,746 million year-over-year.

• Declines in petroleum-related business were offset by strong performance in aviation, gas, and other segments.

Financial highlights

• Net sales: ¥611.6 billion (down 6.5% year-over-year).

• Operating income: ¥12.4 billion (up 4.6% year-over-year).

• Ordinary income: ¥13.4 billion (up 4.5% year-over-year).

• Net profit: ¥9.2 billion (up 6.2% year-over-year).

• Basic earnings per share rose to ¥147.69 from ¥136.93 year-over-year.

Outlook and guidance

• FY2026 forecast: ordinary profit ¥13.0 billion (down 3.3%), net profit ¥8.2 billion (down 10.8%), ROE 7.1%.

• Net sales forecast for March 2027: ¥620,000 million (+1.4%), operating profit ¥12,000 million (-2.9%).

• Dividend per share maintained at ¥100.

• Petroleum and gas businesses expected to remain firm; aviation demand may decline slightly, and chemical products face naphtha shortages.