CEL Corporation, First Half Ordinary Profit Increases by 16%, June-Augus Ordinary Profit Increases by 2.5 times

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Fri Oct 11, 2024 2:00 pm JST Earnings

5078 CEL Corporation 【J-GAAP】

Earnings Report

CEL Corporation <5078> [TSE-S] announced its financial results in the afternoon session on October 11th (14:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending February 2025 (March to August) increased by 15.8% from the same period last year, reaching 1.12 billion yen. The progress rate against the 1.76 billion yen full-year plan was 63.9%, also surpassing the progress rate of 58.7% from the same period of the previous year.

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 decrease by 7.0% from the same period last year to 636 million yen.

In the most recent three-month period, from June to August (2Q), the consolidated ordinary profit surged to 2.5 times that of the same period last year, reaching 784 million yen. The operating profit margin drastically improved from 5.7% in the same period last year to 11.2%.

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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	10,222	632	649	424	123.9	51.8	Oct 14, 2022	J-GAAP
Mar - Aug, 2023	12,162	956	974	655	189.2	58.7	Oct 12, 2023	J-GAAP
Mar - Aug, 2024	11,585	1,108	1,128	786	231.7	63.9	Oct 11, 2024	J-GAAP
YoY	-4.7%	+15.9%	+15.8%	+20.0%	+22.5%

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	11,585	1,108	1,129	786	232.0	0	Sep 26, 2024	J-GAAP
Mar - Aug, 2024 Results	11,585	1,108	1,128	786	231.7	0	Oct 11, 2024	J-GAAP
Revision Rate	0.0%	0.0%	-0.1%	0.0%	-0.2%

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	10,941	681	684	454	132.0	105	Apr 12, 2024	J-GAAP
Sep - Feb, 2024 Guidance	13,408	654	636	401	118.4	105	Oct 11, 2024	J-GAAP
YoY	+22.5%	-4.0%	-7.0%	-11.7%	-10.4%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Feb, 2023	21,375	1,233	1,254	853	247.6	80	Apr 14, 2023	J-GAAP
Feb, 2024	23,103	1,637	1,658	1,109	322.5	105	Apr 12, 2024	J-GAAP
Feb, 2025 Guidance	24,993	1,762	1,764	1,187	350.4	105	Apr 12, 2024	J-GAAP
YoY	+8.2%	+7.6%	+6.4%	+7.0%	+8.6%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jun - Aug, 2023	5,285	303	319	221	63.8	5.7	Oct 12, 2023	J-GAAP
Sep - Nov, 2023	5,223	319	322	224	64.9	6.1	Jan 12, 2024	J-GAAP
Dec - Feb, 2023	5,718	362	362	230	66.9	6.3	Apr 12, 2024	J-GAAP
Mar - May, 2024	4,775	342	344	221	65.1	7.2	Jul 12, 2024	J-GAAP
Jun - Aug, 2024	6,810	766	784	565	166.5	11.2	Oct 11, 2024	J-GAAP
YoY	+28.9%	+152.8%	+145.8%	+155.7%	+160.9%