SUGI HOLDINGS CO.,LTD., First Half Ordinary Profit Increases by 18%, June-Augus Ordinary Profit Increases by 25%

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Tue Sep 24, 2024 3:30 pm JST Earnings

7649 SUGI HOLDINGS CO.,LTD. 【J-GAAP】

Earnings Report

SUGI HOLDINGS CO.,LTD. <7649> [TSE-P] announced its financial results after the market closed on September 24th (15:30). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending February 2025 (March to August) increased by 18.5% from the same period last year, reaching 21.4 billion yen. This progress accounts for 51.7% of the full-year plan of 41.5 billion yen, almost the same as the five-year average of 50.1%.

Based on the first-half performance announced by the company and the unchanged full-year plan, our calculation indicates that the consolidated ordinary profit for the September to February period (second half) is expected to nearly flat of 0.6% from the same period last year, reaching 20 billion yen.

In the most recent three-month period, from June to August (2Q), the consolidated ordinary profit grew by 25.3% from the same period last year, reaching 12.3 billion yen. The operating profit margin improved from 5.0% in the same period last year to 5.5%.

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Actual Results

Accumulated Results 2nd Quarter

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Progress Rate vs. First Half	Announce	Accounting Standards
Mar - Aug, 2022	332,411	15,455	15,670	8,977	48.5	48.4	Sep 27, 2022	J-GAAP
Mar - Aug, 2023	366,564	17,287	18,124	10,265	56.7	47.6	Sep 26, 2023	J-GAAP
Mar - Aug, 2024	413,809	20,286	21,468	13,059	72.2	51.7	Sep 24, 2024	J-GAAP
YoY	+12.9%	+17.3%	+18.5%	+27.2%	+27.2%

First Half Results vs. Previous Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar - Aug, 2024 Guidance	400,000	19,000	19,500	12,000	66.3	15	Apr 2, 2024	J-GAAP
Mar - Aug, 2024 Results	413,809	20,286	21,468	13,059	72.2	15	Sep 24, 2024	J-GAAP
Revision Rate	+3.5%	+6.8%	+10.1%	+8.8%	+8.8%

Current Period Guidance

Second Half Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Sep - Feb, 2023	377,913	19,335	19,915	11,714	64.7	13.34	Apr 2, 2024	J-GAAP
Sep - Feb, 2024 Guidance	396,191	19,714	20,032	11,941	66.0	20	Sep 24, 2024	J-GAAP
YoY	+4.8%	+2.0%	+0.6%	+1.9%	+1.9%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Feb, 2023	667,647	31,658	32,391	19,007	103.8	26.67	Apr 4, 2023	J-GAAP
Feb, 2024	744,477	36,622	38,039	21,979	121.5	26.67	Apr 2, 2024	J-GAAP
Feb, 2025 Guidance	810,000	40,000	41,500	25,000	138.2	35	Apr 2, 2024	J-GAAP
YoY	+8.8%	+9.2%	+9.1%	+13.7%	+13.7%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jun - Aug, 2023	188,713	9,509	9,821	4,702	26.0	5.0	Sep 26, 2023	J-GAAP
Sep - Nov, 2023	184,568	8,607	8,922	5,980	33.1	4.7	Dec 26, 2023	J-GAAP
Dec - Feb, 2023	193,345	10,728	10,993	5,734	31.7	5.5	Apr 2, 2024	J-GAAP
Mar - May, 2024	200,959	8,606	9,165	6,123	33.8	4.3	Jun 25, 2024	J-GAAP
Jun - Aug, 2024	212,850	11,680	12,303	6,936	38.3	5.5	Sep 24, 2024	J-GAAP
YoY	+12.8%	+22.8%	+25.3%	+47.5%	+47.5%