Adastria Co., Ltd., First Half Ordinary Profit Decreases by 3%

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Mon Sep 30, 2024 3:00 pm JST Earnings

2685 Adastria Co., Ltd. 【J-GAAP】

Earnings Report

Adastria Co., Ltd. <2685> [TSE-P] announced its financial results after the market closed on September 30th (15:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending February 2025 (March to August) decreased by 3.0% from the same period last year to 10.3 billion yen. However, The progress rate against the 19 billion yen full-year plan was 54.3%, also surpassing the five-year average of 45.6%.

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 grow by 12.1% from the same period last year, reaching 8.68 billion yen.

In the most recent three-month period, from June to August (2Q), the consolidated ordinary profit decreased to 4.02 billion yen, a 6.1% decrease compared to the same period last year. The operating profit margin worsened from 6.3% in the same period last year to 5.6%.

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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	112,578	5,570	6,157	3,893	86.0	51.2	Oct 7, 2022	J-GAAP
Mar - Aug, 2023	132,896	10,311	10,639	7,094	156.2	57.9	Sep 29, 2023	J-GAAP
Mar - Aug, 2024	144,203	9,915	10,316	6,948	151.9	54.3	Sep 30, 2024	J-GAAP
YoY	+8.5%	-3.8%	-3.0%	-2.1%	-2.7%

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	ー	ー	ー	ー	－	35	Apr 4, 2024	J-GAAP
Mar - Aug, 2024 Results	144,203	9,915	10,316	6,948	151.9	35	Sep 30, 2024	J-GAAP
Revision Rate	－	－	－	－	－

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	142,700	7,704	7,750	6,419	141.4	50	Apr 4, 2024	J-GAAP
Sep - Feb, 2024 Guidance	145,797	9,085	8,684	5,752	124.3	55	Sep 30, 2024	J-GAAP
YoY	+2.2%	+17.9%	+12.1%	-10.4%	-12.2%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Feb, 2023	242,552	11,515	12,026	7,540	166.4	60	Apr 4, 2023	J-GAAP
Feb, 2024	275,596	18,015	18,389	13,513	297.8	85	Apr 4, 2024	J-GAAP
Feb, 2025 Guidance	290,000	19,000	19,000	12,700	274.3	90	Apr 4, 2024	J-GAAP
YoY	+5.2%	+5.5%	+3.3%	-6.0%	-7.9%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jun - Aug, 2023	64,418	4,033	4,290	2,630	57.9	6.3	Sep 29, 2023	J-GAAP
Sep - Nov, 2023	70,356	5,995	6,069	4,447	97.9	8.5	Dec 29, 2023	J-GAAP
Dec - Feb, 2023	72,344	1,709	1,681	1,972	43.5	2.4	Apr 4, 2024	J-GAAP
Mar - May, 2024	74,001	6,014	6,288	4,405	97.3	8.1	Jun 28, 2024	J-GAAP
Jun - Aug, 2024	70,202	3,901	4,028	2,543	55.6	5.6	Sep 30, 2024	J-GAAP
YoY	+9.0%	-3.3%	-6.1%	-3.3%	-4.0%