Takasago Thermal Engineering (1969) Q3 2025 earnings summary

Executive summary

• Sales, gross profit, and profits at all levels reached record highs for the nine months ended Q3 FY2024, with profit margins also at historic highs.

• Net sales for the nine months ended December 31, 2024, rose 0.6% year-over-year to ¥265,193 million, with operating profit up 13.1% to ¥20,925 million and profit attributable to owners of parent up 18.2% to ¥16,621 million.

• Orders received increased 11.6% year-over-year to ¥316,826 million, reflecting robust demand in both manufacturing, non-manufacturing, general-purpose, and industrial systems.

• Progress continues on the FY2026 Medium-Term Management Plan, focusing on earning power, capital efficiency, environmental initiatives, and business model transformation.

Financial highlights

• Net sales for 3Q FY2024 were ¥265.2 billion, up 0.6% year-over-year; gross profit rose 11.6% to ¥47.7 billion, with a margin of 18.0%.

• Operating profit increased 13.1% to ¥20.9 billion (margin 7.9%), ordinary profit up 14.1% to ¥22.9 billion (margin 8.6%), and net profit up 18.2% to ¥16.6 billion (margin 6.3%).

• EPS for the nine months was ¥250.34, up from ¥212.07 in the prior year.

• Comprehensive income declined 6.8% year-over-year to ¥17,022 million.

• Cash and cash equivalents at period end decreased by ¥18,966 million to ¥30,098 million, mainly due to dividend payments and bond redemptions.

Outlook and guidance

• Full-year FY2024 forecasts were revised upward: net sales expected at ¥372 billion (+2.4% YoY), gross profit at ¥67.2 billion (margin 18.1%), operating profit at ¥28.5 billion (margin 7.7%), and net profit at ¥23.9 billion (margin 6.4%).

• Full-year EPS is forecast at ¥360.00, with orders received expected to reach ¥400,000 million.

• Orders for both consolidated and non-consolidated expected to remain at high levels, supported by robust construction demand, especially in the semiconductor sector.

• No revisions to previously announced forecasts.