Ebara (6361) Q1 2025 earnings summary

Executive summary

• Q1 revenue rose 9.7% year-over-year to ¥212.6B, with all major profit categories reaching record highs and consolidated operating profit up 17.1%.

• Orders increased 4.3% year-over-year, driven by strong Precision Machinery and Infrastructure, offsetting Energy declines.

• Overseas revenue now exceeds 60% of total, reflecting global expansion.

• The company continues to execute its E-Plan2025 medium-term plan, focusing on customer value and competitiveness.

Financial highlights

• Q1 FY25: orders ¥199.8B (+4.3% YoY), revenue ¥212.6B (+9.7% YoY), operating profit ¥22.6B (+17.1% YoY), net profit ¥15.7B (+7.4% YoY), EPS ¥34.18 (+7.4% YoY).

• Gross profit for Q1 2025 was ¥68.5B, up from ¥60.6B in Q1 2024.

• Cash flow from operations was -¥1.5B in Q1, with free cash flow at -¥18.5B.

• Total assets as of March 31, 2025 were ¥1,001.3B, equity at ¥476.2B, equity ratio 46.5%, debt-to-equity ratio 0.39.

• Net increase in short-term and long-term borrowings contributed to positive cash flow from financing activities.

Outlook and guidance

• Full-year FY25 guidance unchanged: revenue ¥900.0B (+3.8% YoY), operating profit ¥101.5B (+3.6% YoY), net profit ¥72.4B (+1.4% YoY), EPS ¥156.73.

• Annual dividend forecast for FY2025 is ¥56/share (post stock split).

• Minor segment-level adjustments for 1H; record-high operating profit expected for the year.

• U.S. tariff policy impact expected to be limited; company will monitor for future changes.

• Business environment remains uncertain due to geopolitical and macroeconomic risks.