ECHO TRADING CO.,LTD., First Half Ordinary Profit Decreases by 19%, Current Fiscal Year Dividend Revised Upward by 2 yen

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Wed Oct 9, 2024 3:10 pm JST Earnings

7427 ECHO TRADING CO.,LTD. 【J-GAAP】

Earnings Report

ECHO TRADING CO.,LTD. <7427> [TSE-S] announced its financial results after the market closed on October 9th (15:10). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending February 2025 (March to August) decreased by 19.5% from the same period last year to 852 million yen. The progress rate against the 1.78 billion yen full-year plan was 47.6%, also falling below the five-year average of 56.5%.

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 expand by 36.4% from the same period last year, reaching 937 million yen.

At the same time, the company has increased its planned annual dividend for the current fiscal year from the original plan of 28 yen to 30 yen (compared to 33 yen in the previous period).

In the most recent three-month period, from June to August (2Q), the consolidated ordinary profit decreased to 527 million yen, a 11.0% decrease compared to the same period last year. The operating profit margin remained almost flat, changing from 2.2% in the same period last year to 2.0%.

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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	47,080	406	415	288	47.9	46.3	Oct 7, 2022	J-GAAP
Mar - Aug, 2023	53,581	1,044	1,058	741	123.1	60.6	Oct 6, 2023	J-GAAP
Mar - Aug, 2024	53,371	847	852	708	117.9	47.6	Oct 9, 2024	J-GAAP
YoY	-0.4%	-18.9%	-19.5%	-4.5%	-4.2%

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	54,900	870	888	738	122.2	14	Apr 5, 2024	J-GAAP
Mar - Aug, 2024 Results	53,371	847	852	708	117.9	15	Oct 9, 2024	J-GAAP
Revision Rate	-2.8%	-2.6%	-4.1%	-4.1%	-3.6%

Guidance Update

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Feb, 2025 Prev	110,000	1,754	1,789	1,345	222.8	28	Apr 5, 2024	J-GAAP
Feb, 2025 New	110,000	1,754	1,789	1,345	222.8	30	Oct 9, 2024	J-GAAP
Revision Rate	0.0%	0.0%	0.0%	0.0%	0.0%

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	53,825	675	687	472	78.5	19	Apr 5, 2024	J-GAAP
Sep - Feb, 2024 Guidance	56,629	907	937	637	105.5	15	Oct 9, 2024	J-GAAP
YoY	+5.2%	+34.4%	+36.4%	+35.0%	+34.5%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Feb, 2023	96,955	858	897	590	98.0	24	Apr 7, 2023	J-GAAP
Feb, 2024	107,406	1,719	1,745	1,213	201.7	33	Apr 5, 2024	J-GAAP
Feb, 2025 Guidance	110,000	1,754	1,789	1,345	222.8	30	Oct 9, 2024	J-GAAP
YoY	+2.4%	+2.0%	+2.5%	+10.9%	+10.5%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jun - Aug, 2023	26,966	591	592	411	68.3	2.2	Oct 6, 2023	J-GAAP
Sep - Nov, 2023	27,594	361	371	250	41.5	1.3	Jan 11, 2024	J-GAAP
Dec - Feb, 2023	26,231	314	316	222	36.9	1.2	Apr 5, 2024	J-GAAP
Mar - May, 2024	26,734	320	325	211	35.2	1.2	Jul 10, 2024	J-GAAP
Jun - Aug, 2024	26,637	527	527	497	82.8	2.0	Oct 9, 2024	J-GAAP
YoY	-1.2%	-10.8%	-11.0%	+20.9%	+21.3%