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CREEK & RIVER Co.,Ltd., First Half Ordinary Profit Revised Downward to an Unexpected 14%Decrease

Thu Oct 10, 2024 3:00 pm JST Earnings

4763 CREEK & RIVER Co.,Ltd. 【J-GAAP】

Earnings Report

CREEK & RIVER Co.,Ltd. <4763> [TSE-P] announced its financial results after the market closed on October 10th (15:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending February 2025 (March to August) decreased by 13.7% from the same period last year to 2.26 billion yen, resulting in a decrease in profits compared to the previous forecast of a 2.8% increase.

The progress rate against the 4.8 billion yen full-year plan was 47.2%, also falling below the five-year average of 62.0%.

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 67.8% from the same period last year, reaching 2.53 billion yen.

In the most recent three-month period, from June to August (2Q), the consolidated ordinary profit decreased to 988 million yen, a 4.2% decrease compared to the same period last year. The operating profit margin worsened from 8.2% in the same period last year to 7.2%.

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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 22,334 2,511 2,523 1,788 80.3 63.0 Oct 6, 2022 J-GAAP
Mar - Aug, 2023 25,256 2,602 2,626 1,718 78.0 63.5 Oct 5, 2023 J-GAAP
Mar - Aug, 2024 25,836 2,195 2,265 1,470 68.2 47.2 Oct 10, 2024 J-GAAP
YoY +2.3% -15.6% -13.7% -14.4% -12.5%

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 27,000 2,700 2,700 1,750 82.8 0 Apr 11, 2024 J-GAAP
Mar - Aug, 2024 Results 25,836 2,195 2,265 1,470 68.2 0 Oct 10, 2024 J-GAAP
Revision Rate -4.3% -18.7% -16.1% -16.0% -17.6%

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 24,543 1,501 1,511 940 42.7 41 Apr 11, 2024 J-GAAP
Sep - Feb, 2024 Guidance 29,164 2,605 2,535 1,630 77.1 43 Oct 10, 2024 J-GAAP
YoY +18.8% +73.6% +67.8% +73.4% +80.4%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Feb, 2023 44,121 3,956 4,002 2,899 130.5 27 Apr 6, 2023 J-GAAP
Feb, 2024 49,799 4,103 4,137 2,658 120.8 41 Apr 11, 2024 J-GAAP
Feb, 2025 Guidance 55,000 4,800 4,800 3,100 146.6 43 Apr 11, 2024 J-GAAP
YoY +10.4% +17.0% +16.0% +16.6% +21.3%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jun - Aug, 2023 12,511 1,022 1,031 673 30.5 8.2 Oct 5, 2023 J-GAAP
Sep - Nov, 2023 12,572 880 898 559 25.4 7.0 Jan 11, 2024 J-GAAP
Dec - Feb, 2023 11,971 621 613 381 17.3 5.2 Apr 11, 2024 J-GAAP
Mar - May, 2024 12,854 1,261 1,277 860 39.7 9.8 Jul 9, 2024 J-GAAP
Jun - Aug, 2024 12,982 934 988 610 28.3 7.2 Oct 10, 2024 J-GAAP
YoY +3.8% -8.6% -4.2% -9.4% -7.3%

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