KEY COFFEE INC, First Half Ordinary Profit Decreases by 45%, July-September Ordinary Profit Turns to Loss

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Mon Oct 28, 2024 2:00 pm JST Earnings

2594 KEY COFFEE INC 【J-GAAP】

Earnings Report

KEY COFFEE INC <2594> [TSE-P] announced its financial results in the afternoon session on October 28th (14:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) dropped by 45.0% from the same period last year to 617 million yen. The progress rate against the 700 million yen full-year plan was 88.1%, below the five-year average of 113.3%.

Based on the first-half performance announced by the company and the unchanged full-year plan, our calculation indicates that the consolidated ordinary profit/loss for the October to March period (second half) is expected to turn into a profit of 83 million yen (compared to a loss of 254 million yen in the same period last year).

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit/loss turned to a loss of 99 million yen (compared to a profit of 339 million yen in the same period last year). The operating profit/loss margin worsened from 1.6% in the same period last year to -0.6%.

Kabutan News

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	30,310	514	623	457	21.4	178.5	Nov 14, 2022	J-GAAP
Apr - Sep, 2023	37,480	1,041	1,121	786	36.7	129.3	Oct 30, 2023	J-GAAP
Apr - Sep, 2024	38,735	550	617	363	17.0	88.1	Oct 28, 2024	J-GAAP
YoY	+3.3%	-47.2%	-45.0%	-53.8%	-53.8%

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	ー	ー	ー	ー	－	6	May 13, 2024	J-GAAP
Apr - Sep, 2024 Results	38,735	550	617	363	17.0	6	Oct 28, 2024	J-GAAP
Revision Rate	－	－	－	－	－

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	36,320	-277	-254	-606	-28.4	5	May 13, 2024	J-GAAP
Oct - Mar, 2024 Guidance	35,265	-50	83	137	6.4	6	Oct 28, 2024	J-GAAP
YoY	-2.9%	+81.9%	－	－	－

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	63,298	244	349	173	8.1	10	May 15, 2023	J-GAAP
Mar, 2024	73,800	764	867	180	8.4	12	May 13, 2024	J-GAAP
Mar, 2025 Guidance	74,000	500	700	500	23.4	12	May 13, 2024	J-GAAP
YoY	+0.3%	-34.6%	-19.3%	+177.8%	+177.3%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	18,261	287	339	195	9.1	1.6	Oct 30, 2023	J-GAAP
Oct - Dec, 2023	19,416	302	338	242	11.3	1.6	Jan 29, 2024	J-GAAP
Jan - Mar, 2024	16,904	-579	-592	-848	-39.7	-3.4	May 13, 2024	J-GAAP
Apr - Jun, 2024	19,073	665	716	462	21.6	3.5	Jul 29, 2024	J-GAAP
Jul - Sep, 2024	19,662	-115	-99	-99	-4.6	-0.6	Oct 28, 2024	J-GAAP
YoY	+7.7%	－	－	－	－