WELCIA HOLDINGS CO.,LTD., The Current Fiscal Year Ordinary Profit Revised Downward to an Unexpected 20% Decrease

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Mon Oct 7, 2024 3:00 pm JST Earnings

3141 WELCIA HOLDINGS CO.,LTD. 【J-GAAP】

Earnings Report

WELCIA HOLDINGS CO.,LTD. <3141> [TSE-P] announced its financial results after the market closed on October 7th (15:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending February 2025 (March to August) decreased by 22.0% from the same period last year to 20.9 billion yen, resulting in a decrease in profits compared to the previous forecast of a 6.7% increase.

In addition, the full-year consolidated ordinary profit has downwardly by 25.5%, from the previous forecast of 51 billion yen to 38 billion yen (compared to 47.7 billion yen in the previous period). This changes the outlook from an anticipated profit increase to a projection of a 20.4% decrease in profit.

Based on the first-half performance announced by the company and the full-year plan, our calculation indicates that the consolidated ordinary profit for the September to February period (second half) is expected to decrease by 18.4% from the same period last year to 17 billion yen.

In the most recent three-month period, from June to August (2Q), the consolidated ordinary profit decreased to 14.3 billion yen, a 21.4% decrease compared to the same period last year. The operating profit margin worsened from 5.5% in the same period last year to 4.1%.

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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	562,752	23,988	27,974	17,088	81.9	53.6	Oct 4, 2022	J-GAAP
Mar - Aug, 2023	611,017	24,735	26,797	16,233	78.3	56.1	Oct 10, 2023	J-GAAP
Mar - Aug, 2024	630,585	18,882	20,902	11,716	56.7	55.0	Oct 7, 2024	J-GAAP
YoY	+3.2%	-23.7%	-22.0%	-27.8%	-27.6%

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	644,300	26,700	28,600	16,000	77.4	18	Apr 8, 2024	J-GAAP
Mar - Aug, 2024 Results	630,585	18,882	20,902	11,716	56.7	18	Oct 7, 2024	J-GAAP
Revision Rate	-2.1%	-29.3%	-26.9%	-26.8%	-26.8%

Guidance Update

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Feb, 2025 Prev	1,287,000	47,000	51,000	27,000	130.3	36	Apr 8, 2024	J-GAAP
Feb, 2025 New	1,295,000	34,000	38,000	19,000	91.7	36	Oct 7, 2024	J-GAAP
Revision Rate	+0.6%	-27.7%	-25.5%	-29.6%	-29.6%

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	606,322	18,496	20,959	10,218	49.4	17	Apr 8, 2024	J-GAAP
Sep - Feb, 2024 Guidance	664,415	15,118	17,098	7,284	35.2	18	Oct 7, 2024	J-GAAP
YoY	+9.6%	-18.3%	-18.4%	-28.7%	-28.8%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Feb, 2023	1,144,278	45,635	52,149	27,030	129.4	32	Apr 10, 2023	J-GAAP
Feb, 2024	1,217,339	43,231	47,756	26,451	127.8	34	Apr 8, 2024	J-GAAP
Feb, 2025 Guidance	1,295,000	34,000	38,000	19,000	91.7	36	Oct 7, 2024	J-GAAP
YoY	+6.4%	-21.4%	-20.4%	-28.2%	-28.2%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jun - Aug, 2023	312,750	17,354	18,273	11,107	53.5	5.5	Oct 10, 2023	J-GAAP
Sep - Nov, 2023	299,443	6,370	7,498	4,149	20.0	2.1	Jan 9, 2024	J-GAAP
Dec - Feb, 2023	306,879	12,126	13,461	6,069	29.3	4.0	Apr 8, 2024	J-GAAP
Mar - May, 2024	304,734	5,497	6,534	2,824	13.7	1.8	Jul 8, 2024	J-GAAP
Jun - Aug, 2024	325,851	13,385	14,368	8,892	43.0	4.1	Oct 7, 2024	J-GAAP
YoY	+4.2%	-22.9%	-21.4%	-19.9%	-19.7%