BayCurrent, Inc., First Half Net Income Increases by 19%, June-Augus Net Income Increases by 17%

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Thu Oct 10, 2024 3:00 pm JST Earnings

6532 BayCurrent, Inc. 【IFRS】

Earnings Report

BayCurrent, Inc. <6532> [TSE-P] announced its financial results (based on IFRS) after the market closed on October 10th (15:00). The net income (non-consolidated) for the cumulative second quarter of the fiscal year ending February 2025 (March to August) increased by 18.6% from the same period last year, reaching 13.3 billion yen. The progress rate against the 30.3 billion yen full-year plan was 44.1%, exceeding the five-year average of 39.6%.

Based on the first-half performance announced by the company and the unchanged full-year plan, our calculation indicates that the net income for the September to February period (second half) is expected to grow by 20.0% from the same period last year, reaching 16.9 billion yen.

In the most recent three-month period, from June to August (2Q), the net income grew by 17.4% from the same period last year, reaching 6.39 billion yen. However, the operating profit margin decreased from 34.0% in the same period last year to 32.4%.

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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	34,995	12,605	12,583	8,937	58.3	42.1	Oct 14, 2022	IFRS
Mar - Aug, 2023	43,726	15,498	15,475	11,274	73.7	45.3	Oct 13, 2023	IFRS
Mar - Aug, 2024	54,094	18,129	18,089	13,368	87.8	44.1	Oct 10, 2024	IFRS
YoY	+23.7%	+17.0%	+16.9%	+18.6%	+19.1%

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	－	25	Apr 12, 2024	IFRS
Mar - Aug, 2024 Results	54,094	18,129	18,089	13,368	87.8	25	Oct 10, 2024	IFRS
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	50,183	18,721	18,685	14,108	92.3	25	Apr 12, 2024	IFRS
Sep - Feb, 2024 Guidance	60,906	22,971	22,911	16,932	111.4	25	Oct 10, 2024	IFRS
YoY	+21.4%	+22.7%	+22.6%	+20.0%	+20.7%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Feb, 2023	76,090	29,916	29,875	21,910	143.0	37	Apr 14, 2023	IFRS
Feb, 2024	93,909	34,219	34,160	25,382	166.0	43	Apr 12, 2024	IFRS
Feb, 2025 Guidance	115,000	41,100	41,000	30,300	199.3	50	Apr 12, 2024	IFRS
YoY	+22.5%	+20.1%	+20.0%	+19.4%	+20.0%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jun - Aug, 2023	22,008	7,492	7,477	5,447	35.6	34.0	Oct 13, 2023	IFRS
Sep - Nov, 2023	23,991	8,696	8,678	6,322	41.4	36.2	Jan 12, 2024	IFRS
Dec - Feb, 2023	26,192	10,025	10,007	7,786	50.9	38.3	Apr 12, 2024	IFRS
Mar - May, 2024	27,297	9,455	9,436	6,973	45.7	34.6	Jul 11, 2024	IFRS
Jun - Aug, 2024	26,797	8,674	8,653	6,395	42.0	32.4	Oct 10, 2024	IFRS
YoY	+21.8%	+15.8%	+15.7%	+17.4%	+17.9%