Calbee (2229) Q1 2026 earnings summary

Executive summary

• Net sales rose 5.9% year-over-year to ¥82.2bn, driven by strong domestic and overseas performance.

• Operating profit declined 31.0% to ¥5.3bn, mainly due to higher raw material costs and increased expenses.

• Profit attributable to owners of parent dropped 49.9% to ¥3.5bn, impacted by the absence of prior-year tax incentives and forex gains.

• Domestic business saw sales volume growth and successful marketing reforms; overseas business achieved double-digit local currency sales growth but lower profit in Indonesia and the UK.

• New Setouchi Hiroshima Factory launched and digital transformation initiatives advanced as planned.

Financial highlights

• Net sales rose to ¥82.2bn, up 5.9% year-over-year; operating profit fell 31.0% to ¥5.3bn.

• EBITDA decreased 14.2% year-over-year to ¥9.4bn; net profit dropped 49.9% to ¥3.5bn.

• Operating margin declined by 3.4pts to 6.4%; EBITDA margin fell 2.7pts to 11.5%.

• Gross profit margin was 31.5%, down 4.2% year-over-year; gross profit was ¥25.9bn, down from ¥27.0bn.

• Ordinary profit decreased 43.4% to ¥5.3bn, affected by foreign exchange losses.

Outlook and guidance

• Full-year net sales forecast at ¥345bn (+7.0% YoY); operating profit forecast at ¥29.8bn (+2.5% YoY).

• Profit attributable to owners of parent forecast at ¥20.5bn (-1.8% YoY); annual dividend forecast raised to ¥60.00 per share.

• Recovery measures planned for overseas business to achieve full-year targets.

• No changes to previously announced forecasts.