AEON Co.,Ltd., First Half Net Income Decreases by 76%, June-Augus Net Income Decreases by 94%

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Wed Oct 9, 2024 5:00 pm JST Earnings

8267 AEON Co.,Ltd. 【J-GAAP】

Earnings Report

AEON Co.,Ltd. <8267> [TSE-P] announced its financial results after the market closed on October 9th (17:00). The consolidated net income for the cumulative second quarter of the fiscal year ending February 2025 (March to August) significantly dropped by 76.5% from the same period last year to 5.48 billion yen. The progress rate against the 46 billion yen full-year plan was 11.9%, also falling below the five-year average of 55.3%.

Based on the first-half performance announced by the company and the unchanged full-year plan, our calculation indicates that the consolidated net income for the September to February period (second half) is expected to expand by 89.5% from the same period last year, reaching 40.5 billion yen.

In the most recent three-month period, from June to August (2Q), the consolidated net income significantly dropped to 363 million yen, a 93.5% decrease compared to the same period last year. The operating profit margin worsened from 2.8% 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	4,487,184	95,877	95,321	18,038	21.3	46.8	Oct 5, 2022	J-GAAP
Mar - Aug, 2023	4,711,335	117,623	111,906	23,318	27.3	47.1	Oct 11, 2023	J-GAAP
Mar - Aug, 2024	4,999,435	98,600	89,819	5,488	6.4	34.5	Oct 9, 2024	J-GAAP
YoY	+6.1%	-16.2%	-19.7%	-76.5%	-76.5%

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	－	20	Apr 10, 2024	J-GAAP
Mar - Aug, 2024 Results	4,999,435	98,600	89,819	5,488	6.4	20	Oct 9, 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	4,842,222	133,199	125,573	21,374	25.0	18	Apr 10, 2024	J-GAAP
Sep - Feb, 2024 Guidance	5,000,565	171,400	170,181	40,512	47.3	20	Oct 9, 2024	J-GAAP
YoY	+3.3%	+28.7%	+35.5%	+89.5%	+89.3%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Feb, 2023	9,116,823	209,783	203,665	21,381	25.1	36	Apr 12, 2023	J-GAAP
Feb, 2024	9,553,557	250,822	237,479	44,692	52.3	36	Apr 10, 2024	J-GAAP
Feb, 2025 Guidance	10,000,000	270,000	260,000	46,000	53.7	40	Apr 10, 2024	J-GAAP
YoY	+4.7%	+7.6%	+9.5%	+2.9%	+2.8%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jun - Aug, 2023	2,386,537	66,154	63,785	5,590	6.5	2.8	Oct 11, 2023	J-GAAP
Sep - Nov, 2023	2,314,520	25,200	21,209	-4,959	-5.8	1.1	Jan 12, 2024	J-GAAP
Dec - Feb, 2023	2,527,702	107,999	104,364	26,333	30.8	4.3	Apr 10, 2024	J-GAAP
Mar - May, 2024	2,449,216	47,795	45,397	5,125	6.0	2.0	Jul 12, 2024	J-GAAP
Jun - Aug, 2024	2,550,219	50,805	44,422	363	0.4	2.0	Oct 9, 2024	J-GAAP
YoY	+6.9%	-23.2%	-30.4%	-93.5%	-93.6%