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Vario Secure Inc., First Half Net Income Decreases by 4%, June-Augus Net Income Decreases by 11%

Fri Oct 11, 2024 3:00 pm JST Earnings

4494 Vario Secure Inc. 【IFRS】

Earnings Report

Vario Secure Inc. <4494> [TSE-S] announced its financial results (based on IFRS) after the market closed on October 11th (15:00). The net income (non-consolidated) for the cumulative second quarter of the fiscal year ending February 2025 (March to August) decreased by 4.2% from the same period last year to 182 million yen. However, The progress rate against the 336 million yen full-year plan was 54.2%, almost the same as the four-year average of 55.2%.

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 decrease by 1.9% from the same period last year to 154 million yen.

In the most recent three-month period, from June to August (2Q), the net income decreased to 82 million yen, a 10.9% decrease compared to the same period last year. The operating profit margin decreased from 21.9% in the same period last year to 17.9%.

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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 1,337 385 355 245 64.6 65.5 Oct 7, 2022 IFRS
Mar - Aug, 2023 1,306 290 285 190 42.2 56.0 Oct 10, 2023 IFRS
Mar - Aug, 2024 1,354 273 265 182 40.5 55.9 Oct 11, 2024 IFRS
YoY +3.7% -5.9% -7.0% -4.2% -4.2%

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 － 0 Apr 10, 2024 IFRS
Mar - Aug, 2024 Results 1,354 273 265 182 40.5 0 Oct 11, 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 1,334 230 224 157 34.4 0 Apr 10, 2024 IFRS
Sep - Feb, 2024 Guidance 1,399 212 209 154 34.1 0 Oct 11, 2024 IFRS
YoY +4.9% -7.8% -6.7% -1.9% -1.1%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Feb, 2023 2,634 581 542 383 93.4 40.50 Apr 12, 2023 IFRS
Feb, 2024 2,640 520 509 347 76.1 0 Apr 10, 2024 IFRS
Feb, 2025 Guidance 2,753 485 474 336 74.3 0 Apr 10, 2024 IFRS
YoY +4.3% -6.7% -6.9% -3.2% -2.3%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jun - Aug, 2023 663 145 143 92 20.4 21.9 Oct 10, 2023 IFRS
Sep - Nov, 2023 668 146 142 98 21.7 21.9 Jan 11, 2024 IFRS
Dec - Feb, 2023 666 84 82 59 12.9 12.6 Apr 10, 2024 IFRS
Mar - May, 2024 673 151 146 100 22.3 22.4 Jul 10, 2024 IFRS
Jun - Aug, 2024 681 122 119 82 18.2 17.9 Oct 11, 2024 IFRS
YoY +2.7% -15.9% -16.8% -10.9% -10.9%

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