Daiseki Eco. Solution Co.,Ltd., First Half Ordinary Profit Decreases by 39%, June-Augus Ordinary Profit Decreases by 40%

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Tue Oct 1, 2024 3:00 pm JST Earnings

1712 Daiseki Eco. Solution Co.,Ltd. 【J-GAAP】

Earnings Report

Daiseki Eco. Solution Co.,Ltd. <1712> [TSE-S] announced its financial results after the market closed on October 1st (15:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending February 2025 (March to August) dropped by 38.7% from the same period last year to 1.07 billion yen. The progress rate against the 2.25 billion yen full-year plan was 47.8%, almost the same as the five-year average of 49.5%.

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 10.5% from the same period last year, reaching 1.17 billion yen.

In the most recent three-month period, from June to August (2Q), the consolidated ordinary profit dropped to 522 million yen, a 40.0% decrease compared to the same period last year. However, the operating profit margin rose from 12.2% in the same period last year to 12.3%.

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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	7,358	456	466	206	12.3	33.0	Oct 3, 2022	J-GAAP
Mar - Aug, 2023	13,632	1,741	1,754	1,092	65.0	62.2	Oct 2, 2023	J-GAAP
Mar - Aug, 2024	8,907	1,067	1,075	596	35.5	47.8	Oct 1, 2024	J-GAAP
YoY	-34.7%	-38.7%	-38.7%	-45.4%	-45.3%

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	8,675	1,053	1,064	611	36.4	7	Apr 4, 2024	J-GAAP
Mar - Aug, 2024 Results	8,907	1,067	1,075	596	35.5	7	Oct 1, 2024	J-GAAP
Revision Rate	+2.7%	+1.3%	+1.0%	-2.5%	-2.4%

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	10,518	1,051	1,064	689	41.0	7	Apr 4, 2024	J-GAAP
Sep - Feb, 2024 Guidance	8,847	1,177	1,176	676	40.3	7	Oct 1, 2024	J-GAAP
YoY	-15.9%	+12.0%	+10.5%	-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	16,411	1,373	1,412	724	43.1	10	Apr 5, 2023	J-GAAP
Feb, 2024	24,150	2,792	2,818	1,781	106.1	12	Apr 4, 2024	J-GAAP
Feb, 2025 Guidance	17,754	2,244	2,251	1,272	75.8	14	Apr 4, 2024	J-GAAP
YoY	-26.5%	-19.6%	-20.1%	-28.6%	-28.6%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jun - Aug, 2023	6,991	850	870	546	32.5	12.2	Oct 2, 2023	J-GAAP
Sep - Nov, 2023	5,943	790	797	475	28.3	13.3	Jan 5, 2024	J-GAAP
Dec - Feb, 2023	4,575	261	267	214	12.7	5.7	Apr 4, 2024	J-GAAP
Mar - May, 2024	4,747	555	553	302	18.0	11.7	Jul 1, 2024	J-GAAP
Jun - Aug, 2024	4,160	512	522	294	17.5	12.3	Oct 1, 2024	J-GAAP
YoY	-40.5%	-39.8%	-40.0%	-46.2%	-46.1%