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AGC (5201) investor relations material
AGC Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Net sales for the first nine months were ¥1,512.1 billion, down 1.4% year-over-year, with operating profit at ¥94.8 billion, up 0.9% year-over-year, and profit attributable to owners at ¥39.5 billion, a significant increase due to the absence of prior-year losses and impairments.
No change in the FY2025 full-year outlook from the August forecast, with net sales expected at ¥2,050 billion and operating profit at ¥120 billion.
Profit before tax improved significantly to ¥73.2 billion from a loss of ¥74.4 billion in the prior year, mainly due to the absence of large one-time losses related to the Russian business and prior impairments.
Financial highlights
Operating profit rose by ¥0.8 billion year-over-year, driven by improved product mix, pricing, and profit improvement measures, offset by higher raw material and fuel costs.
Free cash flow was ¥38.4 billion, with operating cash flow at ¥164.7 billion and investment cash flow at negative ¥126.4 billion.
CapEx totaled ¥174.1 billion, depreciation ¥132.6 billion, and R&D expenses ¥44.1 billion.
Cash and cash equivalents at period end were ¥99.7 billion, down from ¥107.9 billion at the start of the year.
Outlook and guidance
Full-year FY2025 guidance remains unchanged: net sales ¥2,050 billion, operating profit ¥120 billion, profit attributable to owners ¥57 billion, and basic EPS of ¥268.84.
Dividend per share for FY2025 is forecast at ¥210, with a stable policy targeting a DOE of about 3%.
Operating profit margin expected at 5.9%, ROE at 4.0%.
Fourth quarter sales are expected to be on par with Q3, but operating profit is projected to decline due to seasonality and segment-specific factors.
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