Financial Results Presentation for the Second Quarter of the Fiscal Year Ending March 2027 | INFRONEER Holdings Inc. (5076) timely disclosure

Worth reading

76Important

Scored from 5 of 6 sections

Direction

Improvement

Direction inferred from the company’s description.

Scale

155

¥100 million (year-on-year increase in business profit)

Wording

Conditional

How definitive the wording is.

Contents of this document

Earnings presentationFiscal year ending March 2027: second quarter12 items taken from the company’s own explanation

Financial Results Figures (The key points of this material are explained below)

Net Sales¥6,608 billion+55.7%

Operating profit¥395 billion+66.7%

Net income¥659 billion+167.9%

Operating profit margin6 %

Selling, general and administrative expenses¥597 billion

Full-year earnings forecast

Net Sales

¥14,220 billion

Business profit

¥927 billion

EBITDA

¥1,439 billion

Operating profit

¥908 billion

Profit for the period

¥822 billion

Annual Dividend

¥132

Progress against full-year forecast　通期の予想に対して、いまどこまで進んだかの割合です。

Net Sales46.5%

Gross profit44.5%

General and administrative expenses46.2%

EBITDA45.9%

Business profit43.0%

Operating profit43.5%

Profit for the period80.2%

By segmentConstruction 48.3%, civil engineering 46.0%, paving 47.4%, machinery 44.5%, infrastructure operations 38.2%; construction business profit 52.7%, civil engineering 48.5%, paving 40.6%, machinery 25.8%

What the company explained in this material

Self-assessment against the planThe company's self-assessment against its own plan.

Full-year plan achievement is expected. Business profit was revised upward.

Breakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.

水ing business profit¥52 billion
Business growth contribution (FY26 1Q)¥15 billion
Business growth contribution (FY26 2Q)¥60 billion
Adjustments to FY25 first-half business profit for gains on the sale of 東洋建設 shares and other items¥-149 billion
Recorded a valuation gain¥616 billion

Assumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.

Kioxia Holdings share price (valuation assumption)¥9,068
Toshiba business plan and actual resultsIf progress is in line with the assumptions

New initiatives

Global public offering of 55 million shares, ¥114.9 billion in total
Allocation to funds for the acquisition of 水ing and other purposes
Reclassification of EPC profit related to the infrastructure operations business to that segment
Development of battery storage projects
Conversion of post-FIT projects into in-house power sources
Commencement of operations at new projects

Key KPIsA metric the company considers important as a management benchmark.

EBITDA¥660 billion
Year on year against the same period last year+52.4%
EBITDA margin10 %
ROE (common stock)13.7 %
EPS¥291.7
Margin at the time of order acceptance (construction, 前田建設)10.8 %

Segment results

Building construction

Net Sales

¥2,778 billion+54.5%

Gross profit

¥358 billion+82.7%

Business profit

¥161 billion+94.0%

Civil engineering construction

Net Sales

¥1,735 billion+122.1%

Gross profit

¥319 billion+115.5%

Business profit

¥165 billion+98.8%

Road paving

Net Sales

¥1,392 billion+11.2%

Gross profit

¥199 billion+13.1%

Business profit

¥93 billion+19.2%

Machinery

Net Sales

¥199 billion+13.7%

Gross profit

¥48 billion+20.0%

Business profit

¥7 billion+75.0%

Infrastructure Operations

Net Sales

¥490 billion+115.9%

EBITDA

¥34 billion-20.9%

Business profit

¥-27 billion

Medium-term management plan targets

ROE
Target12
Target fiscal yearMedium-term Vision 2027
Actuals / Forecast13.7
Equity ratio
TargetAt least 30%
Target fiscal yearMedium-term Vision 2027
Actuals / Forecast34.2% (full year)
D/E ratio
Target1.0x or lower
Target fiscal yearMedium-term Vision 2027
Actuals / Forecast0.69

Financial targets

ROE

Target12 %

Actual results13.7 %

Equity ratio

TargetAt least 30%

Actual results34.2% (full year)

Debt-to-equity ratio

Target1.0x or lower

Actual results0.69 times

Orders received and order backlog

Orders received

Construction / MAEDA CORPORATION FY26 2Q¥2,510 billion

Annual Dividend

Annual132 yen per share

Interim65 yen per share

End of period67 yen per share

Payout ratio

45.3 %

PolicyAt least 40% for FY25–FY27

Gross profit

¥981 billion

rate_pct14.8

yoy_change_pt0.7

Contents of this document
Item	Details
Document type	Earnings presentation
Fiscal Period Covered	Fiscal year ending March 2027: second quarter
Net Sales	¥6,608 billion (YoY +55.7%)
Operating profit	¥395 billion (YoY +66.7%)
Net income	¥659 billion (YoY +167.9%)
Gross profit	¥981 billion
Operating profit margin	6 %
Selling, general and administrative expenses	¥597 billion
Full-year earnings forecast	Net Sales ¥14,220 billion / Business profit ¥927 billion / EBITDA ¥1,439 billion / Operating profit ¥908 billion / Profit for the period ¥822 billion / Annual Dividend ¥132
Progress against full-year forecast	Net Sales 46.5% / Gross profit 44.5% / General and administrative expenses 46.2% / EBITDA 45.9% / Business profit 43.0% / Operating profit 43.5% / Profit for the period 80.2% / By segment Construction 48.3%, civil engineering 46.0%, paving 47.4%, machinery 44.5%, infrastructure operations 38.2%; construction business profit 52.7%, civil engineering 48.5%, paving 40.6%, machinery 25.8%
Self-assessment against the plan	Full-year plan achievement is expected. Business profit was revised upward.
Segment results	Building construction Net Sales ¥2,778 billion (YoY +54.5%) / Gross profit ¥358 billion (YoY +82.7%) / Business profit ¥161 billion (YoY +94.0%) / Civil engineering construction Net Sales ¥1,735 billion (YoY +122.1%) / Gross profit ¥319 billion (YoY +115.5%) / Business profit ¥165 billion (YoY +98.8%) / Road paving Net Sales ¥1,392 billion (YoY +11.2%) / Gross profit ¥199 billion (YoY +13.1%) / Business profit ¥93 billion (YoY +19.2%) / Machinery Net Sales ¥199 billion (YoY +13.7%) / Gross profit ¥48 billion (YoY +20.0%) / Business profit ¥7 billion (YoY +75.0%) / Infrastructure Operations Net Sales ¥490 billion (YoY +115.9%) / EBITDA ¥34 billion (YoY -20.9%) / Business profit ¥-27 billion
Breakdown of Factors Affecting the Change	Factors 水ing business profit / Amount ¥52 billion, Factors Business growth contribution (FY26 1Q) / Amount ¥15 billion, Factors Business growth contribution (FY26 2Q) / Amount ¥60 billion, Factors Adjustments to FY25 first-half business profit for gains on the sale of 東洋建設 shares and other items / Amount ¥-149 billion, Factors Recorded a valuation gain / Amount ¥616 billion
Key KPIs	Indicator name EBITDA / Value ¥660 billion / Year on year against the same period last year ¥52.4 billion, Indicator name EBITDA margin / Value 10 %, Indicator name ROE (common stock) / Value 13.7 %, Indicator name EPS / Value ¥291.7, Indicator name Margin at the time of order acceptance (construction, 前田建設) / Value 10.8 %
Assumptions Underlying the Business Outlook	Item Kioxia Holdings share price (valuation assumption) / Value ¥9,068, Item Toshiba business plan and actual results / Value If progress is in line with the assumptions
Medium-term management plan targets	Item ROE / Target 12 % / Target fiscal year Medium-term Vision 2027 / Actuals / Forecast 13.7 %, Item Equity ratio / Target At least 30% / Target fiscal year Medium-term Vision 2027 / Actuals / Forecast 34.2% (full year), Item D/E ratio / Target 1.0x or lower / Target fiscal year Medium-term Vision 2027 / Actuals / Forecast 0.69
Financial targets	ROE Target 12 % / Actual results 13.7 % / Equity ratio Target At least 30% / Actual results 34.2% (full year) / Debt-to-equity ratio Target 1.0x or lower / Actual results 0.69 times
Annual Dividend	Annual 132 yen per share / Interim 65 yen per share / End of period 67 yen per share
Payout ratio	45.3 %
Orders received and order backlog	Orders received Construction / MAEDA CORPORATION FY26 2Q ¥2,510 billion / Order backlog Not disclosed
New initiatives	Global public offering of 55 million shares, ¥114.9 billion in total, Allocation to funds for the acquisition of 水ing and other purposes, Reclassification of EPC profit related to the infrastructure operations business to that segment, Development of battery storage projects, Conversion of post-FIT projects into in-house power sources, Commencement of operations at new projects

Items this document does not state (10)

Ordinary incomeResults for the three months of the current quarterUnit price and quantity metricsNumber of stores and locationsNumber of employeesRisk amount incorporated into the outlookAcquisition of treasury sharesCapital expendituresMarket Size / ShareKey points of the Q&A

These are items the company does not state in this document. We do not leave them blank, nor fill them in from other sources or by inference.

The reasons the company gives

The company's own explanation, not something inferred from the numbers.

The factors cited include the integration of アルソシア建設, growth in each business, completion of highly profitable construction projects, progress on projects under construction, progress on overseas construction projects, improved margins at the time of order acceptance, and price pass-through in the manufacturing and sales business. In infrastructure operations, however, higher costs, including increased repairs at power plants operated by 日本風力開発, were a factor behind the decline in profit.

How to read this page

This is not the documentKomori reads the disclosure the company filed and writes this summary. Figures are as stated by the company and are not audited.

Weight is not a verdictIt measures how much this changes what the company had already told the market. It is not a view on the shares.

Corrections happenIf the company reissues this disclosure, the page is rebuilt from the corrected version and the revision number moves up.