JFE Holdings (5411) H1 2025 earnings summary

Executive summary

• Profit attributable to owners of parent for FY2024 is forecast at ¥130bn, down ¥67.4bn year-over-year and ¥75.0bn from previous forecast.

• 1H FY2024 revenue was ¥2,450.7bn, down 4.9% year-over-year; business profit fell 50.2% to ¥81.8bn, and profit attributable to owners of parent dropped 61.4% to ¥42.4bn.

• Comprehensive income for 1H FY2024 was ¥86.9bn, a 53% decrease year-over-year.

• Interim dividend set at 50 yen per share; annual dividend forecast at 100 yen, 10 yen lower than previous forecast but maintained at prior year level.

• Full-year business profit forecast at ¥160.0bn, down ¥138.2bn year-over-year and ¥100.0bn from previous forecast.

Financial highlights

• 1H FY2024 revenue was ¥2,450.7bn, down ¥125.8bn year-over-year.

• 1H business profit was ¥81.8bn, down ¥82.5bn year-over-year and ¥3.2bn below previous forecast.

• 1H profit attributable to owners of parent was ¥42.4bn, down ¥67.6bn year-over-year.

• Basic EPS for 1H FY2024 was ¥66.80, compared to ¥186.97 in 1H FY2023.

• Exceptional items included a loss from the share transfer of GECOSS Corporation, loss of control over subsidiaries, and profit from land sales.

Outlook and guidance

• FY2024 full-year revenue forecast at ¥4,970.0bn, down ¥270.0bn from previous forecast and 4% year-over-year.

• Full-year business profit forecast at ¥160bn, down 46.3% year-over-year.

• Profit attributable to owners of parent forecast at ¥130bn, down 34.2% year-over-year; basic EPS forecast at ¥204.39.

• Steel business profit per ton expected at 8,000 yen/t, down ¥2,000/t from previous forecast.

• Segment profit for FY2024 expected to decline sharply, mainly in the steel business due to lower sales volume and inventory losses.