Sumitomo Bakelite (4203) Q1 2024 earnings summary

Executive summary

• Revenue rose 9.1% year-over-year to ¥76,653 million for the quarter ended June 30, 2024.

• Profit attributable to owners of parent increased 22.5% year-over-year to ¥7,000 million.

• Basic earnings per share was ¥75.16, reflecting a two-for-one stock split effective April 1, 2024.

Financial highlights

• Business profit grew 20.6% year-over-year to ¥7,910 million; operating profit up 25.7% to ¥8,173 million.

• Gross profit increased to ¥23,586 million from ¥20,588 million year-over-year.

• Net cash provided by operating activities was ¥8,925 million, up from ¥7,148 million a year earlier.

• Total assets increased to ¥449,375 million as of June 30, 2024, from ¥441,162 million at March 31, 2024.

• Total equity attributable to owners of parent rose to ¥318,246 million, with an equity ratio of 70.8%.

Outlook and guidance

• Full-year revenue forecast is ¥309,000 million, up 7.6% year-over-year.

• Business profit projected at ¥30,000 million (+9.3% YoY); profit attributable to owners at ¥24,000 million (+9.9% YoY).

• Full-year basic EPS forecast is ¥257.71, reflecting the stock split.

• Annual dividend forecast is ¥90.00 per share post-split.