Japan Aviation Electronics Industry, Limited, First Half Ordinary Profit Decreases by 6%, July-Septembe Ordinary Profit Decreases by 15%

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Wed Oct 23, 2024 3:00 pm JST Earnings

6807 Japan Aviation Electronics Industry, Limited 【J-GAAP】

Earnings Report

Japan Aviation Electronics Industry, Limited <6807> [TSE-P] announced its financial results after the market closed on October 23rd (15:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) decreased by 5.7% from the same period last year to 8.11 billion yen. However, The progress rate against the 16 billion yen full-year plan was 50.7%, almost the same as the five-year average of 48.5%.

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 October to March period (second half) is expected to grow by 28.0% from the same period last year, reaching 7.88 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit decreased to 4.74 billion yen, a 14.6% decrease compared to the same period last year. However, the operating profit margin improved from 8.0% in the same period last year to 9.4%.

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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
Apr - Sep, 2022	122,206	10,822	14,314	10,725	117.8	74.9	Oct 26, 2022	J-GAAP
Apr - Sep, 2023	113,285	6,770	8,607	6,711	73.6	58.3	Oct 27, 2023	J-GAAP
Apr - Sep, 2024	113,451	9,218	8,119	6,631	98.5	50.7	Oct 23, 2024	J-GAAP
YoY	+0.1%	+36.2%	-5.7%	-1.2%	+33.7%

First Half Results vs. Previous Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Apr - Sep, 2024 Guidance	113,500	8,000	7,500	6,000	89.1	30	Apr 24, 2024	J-GAAP
Apr - Sep, 2024 Results	113,451	9,218	8,119	6,631	98.5	30	Oct 23, 2024	J-GAAP
Revision Rate	0.0%	+15.2%	+8.3%	+10.5%	+10.5%

Current Period Guidance

Second Half Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Oct - Mar, 2023	112,496	7,653	6,155	5,534	62.0	30	Apr 24, 2024	J-GAAP
Oct - Mar, 2024 Guidance	116,549	7,782	7,881	5,869	87.1	30	Oct 23, 2024	J-GAAP
YoY	+3.6%	+1.7%	+28.0%	+6.1%	+40.6%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	235,864	17,562	19,115	14,639	160.8	50	Apr 27, 2023	J-GAAP
Mar, 2024	225,781	14,423	14,762	12,245	137.1	55	Apr 24, 2024	J-GAAP
Mar, 2025 Guidance	230,000	17,000	16,000	12,500	185.5	60	Apr 24, 2024	J-GAAP
YoY	+1.9%	+17.9%	+8.4%	+2.1%	+35.3%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	61,551	4,942	5,561	4,211	46.2	8.0	Oct 27, 2023	J-GAAP
Oct - Dec, 2023	58,065	4,729	3,770	4,066	44.6	8.1	Jan 29, 2024	J-GAAP
Jan - Mar, 2024	54,431	2,924	2,385	1,468	16.4	5.4	Apr 24, 2024	J-GAAP
Apr - Jun, 2024	55,560	3,774	3,370	3,136	46.6	6.8	Jul 24, 2024	J-GAAP
Jul - Sep, 2024	57,891	5,444	4,749	3,495	51.9	9.4	Oct 23, 2024	J-GAAP
YoY	-5.9%	+10.2%	-14.6%	-17.0%	+12.3%