SHIFT Inc., 26% Increase in Ordinary Profit, Record High for The First Time in Two Years

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Thu Oct 10, 2024 3:00 pm JST Earnings

3697 SHIFT Inc. 【J-GAAP】

Earnings Report

SHIFT Inc. <3697> [TSE-P] announced its financial results after the market closed on October 10th (15:00). The consolidated ordinary profit for the fiscal year ending August 2024 decreased by 10.4% from the previous period to 10.7 billion yen. For the fiscal year ending August 2025, the profit is expected to expand to 25.5% to 13.5 billion yenExpected to reach record high profits for the first time in two years. This will be the sixteenth consecutive term of revenue growth.

In the most recent three-month period, from June to August (4Q), the consolidated ordinary profit grew by 3.7% from the same period last year, reaching 3.49 billion yen. However, the operating profit margin decreased from 13.5% in the same period last year to 11.8%.

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Actual Results

Historical Performance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Aug, 2022	64,873	6,913	7,552	4,974	282.8	0	Oct 14, 2022	J-GAAP
Aug, 2023	88,030	11,565	12,000	6,245	354.6	0	Oct 12, 2023	J-GAAP
Aug, 2024	110,627	10,537	10,753	5,127	291.4	0	Oct 10, 2024	J-GAAP
YoY	+25.7%	-8.9%	-10.4%	-17.9%	-17.8%

Full Year Results vs. Previous Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Aug, 2024 Guidance	118,000	13,100	13,100	8,650	491.3	0	Oct 12, 2023	J-GAAP
Aug, 2024 Results	110,627	10,537	10,753	5,127	291.4	0	Oct 10, 2024	J-GAAP
Revision Rate	-6.2%	-19.6%	-17.9%	-40.7%	-40.7%

Current Period Guidance

H1 Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Sep - Feb, 2023	52,305	4,685	4,833	2,977	169.3	0	Apr 11, 2024	J-GAAP
Sep - Feb, 2024 Guidance	ー	ー	ー	ー	－	0	Oct 10, 2024	J-GAAP
YoY	－	－	－	－	－

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Aug, 2023	88,030	11,565	12,000	6,245	354.6	0	Oct 12, 2023	J-GAAP
Aug, 2024	110,627	10,537	10,753	5,127	291.4	0	Oct 10, 2024	J-GAAP
Aug, 2025 Guidance	130,000	13,500	13,500	7,900	450.4	0	Oct 10, 2024	J-GAAP
YoY	+17.5%	+28.1%	+25.5%	+54.1%	+54.6%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jun - Aug, 2023	24,675	3,331	3,365	2,266	128.7	13.5	Oct 12, 2023	J-GAAP
Sep - Nov, 2023	25,073	1,815	1,884	1,095	62.3	7.2	Jan 12, 2024	J-GAAP
Dec - Feb, 2023	27,232	2,870	2,949	1,882	107.0	10.5	Apr 11, 2024	J-GAAP
Mar - May, 2024	28,838	2,378	2,430	318	18.1	8.2	Jul 10, 2024	J-GAAP
Jun - Aug, 2024	29,484	3,474	3,490	1,832	104.1	11.8	Oct 10, 2024	J-GAAP
YoY	+19.5%	+4.3%	+3.7%	-19.2%	-19.1%