DAIKI Aluminium reports a subdued fiscal performance for Q1 FY2024-25, with net income down by 57% Y-o-Y

DAIKI Aluminium, a Japanese producer of secondary aluminium alloys for various applications like high-pressure die casting, casting, and rolling, has announced its first quarter fiscal results for the financial year starting from April 1, 2024, and ending on March 31, 2025.

The company has reported a slight drop in its financial performance for the Q1 period ended June 30, 2024, owing to sluggish domestic demand for aluminium, but expressed an optimistic outlook for the full year's sales and profits.

For Q1, DAIKI Aluminium posted a net income of 524 million yen, down by 57 per cent from Q1 FY2024, amid flat revenue at 62.6 billion yen. Profit margin stood at 0.8 per cent in the June quarter, down from 2 per cent during the corresponding period of the previous year.

DAIKI Aluminium also highlighted that its earnings per share were 12.94 yen in Q1 FY2025, compared to 30.44 yen a year ago. The equity ratio slightly decreased from 51.4 per cent to 50.1 per cent.

At the end of the first quarter of FY2025, DAIKI Aluminium's operating expenses totalled 7.939 billion yen. On the release of the fiscal results, DAIKI's shares decreased 1.1 per cent from a week ago.

DAIKI Aluminium is otherwise progressing with its operations and new ventures. It recently signed a strategic contract with Aluminium Bahrain B.S.C. to establish a sustainable aluminium dross processing facility in the Kingdom of Bahrain. The new aluminium dross processing plant will employ state-of-the-art technologies to recover the lightweight metal while significantly reducing waste and carbon emissions. The alliance between DAIKI and Alba represents Bahrain and Japan's joint efforts and commitments to innovative advancements in sustainable aluminium production.