Belc CO., LTD., First Half Ordinary Profit Decreases by 3%

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Thu Oct 10, 2024 3:00 pm JST Earnings

9974 Belc CO., LTD. 【J-GAAP】

Earnings Report

Belc CO., LTD. <9974> [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 3.2% from the same period last year to 9.24 billion yen. The progress rate against the 17.6 billion yen full-year plan was 52.4%, 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 54.5% from the same period last year, reaching 8.38 billion yen.

In the most recent three-month period, from June to August (2Q), the consolidated ordinary profit grew by 5.3% from the same period last year, reaching 5.35 billion yen. However, the operating profit margin remained almost flat, changing from 5.8% in the same period last year to 5.5%.

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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	150,825	7,093	7,271	4,875	233.7	50.9	Oct 7, 2022	J-GAAP
Mar - Aug, 2023	170,026	9,248	9,542	6,859	329.1	63.7	Oct 11, 2023	J-GAAP
Mar - Aug, 2024	189,658	9,035	9,241	6,170	296.0	52.4	Oct 10, 2024	J-GAAP
YoY	+11.5%	-2.3%	-3.2%	-10.0%	-10.0%

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	－	58	Apr 11, 2024	J-GAAP
Mar - Aug, 2024 Results	189,658	9,035	9,241	6,170	296.0	58	Oct 10, 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	181,830	5,247	5,430	3,818	183.2	58	Apr 11, 2024	J-GAAP
Sep - Feb, 2024 Guidance	187,066	8,474	8,389	5,736	275.2	58	Oct 10, 2024	J-GAAP
YoY	+2.9%	+61.5%	+54.5%	+50.2%	+50.2%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Feb, 2023	310,826	14,018	14,297	9,614	461.0	94	Apr 13, 2023	J-GAAP
Feb, 2024	351,856	14,495	14,972	10,677	512.3	108	Apr 11, 2024	J-GAAP
Feb, 2025 Guidance	376,724	17,509	17,630	11,906	571.1	116	Apr 11, 2024	J-GAAP
YoY	+7.1%	+20.8%	+17.8%	+11.5%	+11.5%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jun - Aug, 2023	87,114	5,044	5,085	3,852	184.8	5.8	Oct 11, 2023	J-GAAP
Sep - Nov, 2023	88,204	3,364	3,420	2,431	116.6	3.8	Jan 10, 2024	J-GAAP
Dec - Feb, 2023	93,626	1,883	2,010	1,387	66.5	2.0	Apr 11, 2024	J-GAAP
Mar - May, 2024	93,456	3,731	3,884	2,613	125.4	4.0	Jul 10, 2024	J-GAAP
Jun - Aug, 2024	96,202	5,304	5,357	3,557	170.7	5.5	Oct 10, 2024	J-GAAP
YoY	+10.4%	+5.2%	+5.3%	-7.7%	-7.6%