Sumitomo Bakelite (4203) Q4 2023 earnings summary

Executive summary

• FY2024 revenue rose 0.8% YoY to ¥287,267 million; business profit increased 7.9% to ¥27,458 million and profit attributable to owners rose 7.6% to ¥21,831 million.

• Profit before tax advanced 17.8% to ¥31,489 million, while operating profit increased 9.6% to ¥27,200 million.

Financial highlights

• Gross profit was ¥85,710 million versus ¥81,353 million; business profit was ¥27,458 million versus ¥25,448 million.

• Profit attributable to owners was ¥21,831 million, up from ¥20,289 million; basic EPS was ¥233.66 versus ¥215.59, calculated on a pre-split basis.

• Operating cash flow increased to ¥40,217 million from ¥23,618 million; cash and cash equivalents ended the year at ¥121,635 million.

• Total assets increased to ¥441,162 million from ¥378,457 million; total equity rose to ¥303,727 million from ¥257,692 million.

Outlook and guidance

• FY2025 forecast: revenue ¥309,000 million, up 7.6%; business profit ¥30,000 million, up 9.3%; owners’ profit ¥24,000 million, up 9.9%.

• Forecast basic EPS is ¥257.71 and reflects the April 1, 2024 two-for-one stock split.

• Forecasts rely on currently available information and reasonable assumptions; actual results may differ due to various factors.