Consolidated Financial Results for the Nine Months Ended December 31, 2024 [Based on Japanese GAAP] ( 330KB )

FY2024 3Q Supplementary Materials for Financial Results ( 224KB )

During the nine months ended December 31, 2024, in the business environment surrounding our group, the demand for aviation fuel has been increasing due to inbound tourists, but the demand for overall petroleum products has been decreasing due to factors such as a decline in the use of private vehicles and improved fuel efficiency in automobiles.
Under these circumstances, during the nine months ended December 31, 2024, net sales of our group decreased by 2.2% year-on-year to 474,825 million yen due to the decrease in sales volume of petroleum products. Operating profit decreased by 32.8% year-on-year to 8,599 million yen due to the revision of the unit price for fuel handling fees in the Aviation-related business. Ordinary profit decreased by 30.2% year-on-year to 9,457 million yen, and profit attributable to owners of parent decreased by 21.6% year-on-year to 6,562 million yen.

Our group recorded extraordinary losses (impairment losses on fixed assets including goodwill) amounting to 1,283 million yen, because SAN-AI OBBLI GAS BANSHU CO., LTD. (location: Takasago City, Hyogo Prefecture) an LPG Sales retailing company, was difficult to achieve the revenue initially expected.

Results by business segment are as follows.

In the Petroleum-related business, net sales decreased by 2.7% year-on-year to 407,207 million yen. Segment profit decreased by 11.7% year-on-year to 6,277 million yen due to an increase in selling, general and administrative expenses.

In the Chemical Products-related business, net sales increased by 4.6% year-on-year to 9,620 million yen. Segment profit increased by 17.3% year-on-year to 865 million yen, mainly due to improved margins

In the Gas-related business, net sales increased by 8.9% year-on-year to 42,853 million yen due to higher LP gas sales prices. Segment profit increased by 17.5% year-on-year to 600 million yen due to the increase of the number of retail customers.
In May 2024, the company acquired shares of Imari Gas Co., Ltd., which supplies city gas and sells LPG to retailers in Imari City, Saga Prefecture.

In the Aviation-related business, the volume of fuel handled on international airline at Haneda Airport remained strong. However, net sales decreased by 25.0% year-on-year to 10,863 million yen due to revisions to the unit price of fuel handling fees at Haneda Airport. Segment profit decreased by 57.6% year-on-year to 2,823 million yen.

In the Other business, net sales increased 3.8% year-on-year to 4,281 million yen. Segment profit increased 9.7% year-on-year to 628 million yen due to improved profit margins in the cleaning and surface treatment businesses for metal products and other products.