MACNICA HOLDINGS, INC., The Current Fiscal Year Ordinary Profit Revised Downward by 31%

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Mon Oct 28, 2024 3:00 pm JST Earnings

3132 MACNICA HOLDINGS, INC. 【J-GAAP】

Earnings Report

MACNICA HOLDINGS, INC. <3132> [TSE-P] announced its financial results after the market closed on October 28th (15:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) dropped by 42.5% from the same period last year to 21 billion yen.

In addition, the full-year consolidated ordinary profit has downwardly by 30.6%, from the previous forecast of 60.5 billion yen to 42 billion yen (compared to 61.9 billion yen in the previous period), leading to an increase in the profit decline rate from 2.4% to 32.2%.

Based on the first-half performance announced by the company and the full-year plan, our calculation indicates that the consolidated ordinary profit for the October to March period (second half) is expected to decrease by 17.4% from the same period last year to 20.9 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit dropped to 9.15 billion yen, a 46.3% decrease compared to the same period last year. The operating profit margin worsened from 6.5% in the same period last year to 3.9%.

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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
Apr - Sep, 2022	492,562	26,801	23,707	16,821	90.1	41.7	Oct 31, 2022	J-GAAP
Apr - Sep, 2023	546,961	38,000	36,667	25,864	142.3	59.2	Oct 30, 2023	J-GAAP
Apr - Sep, 2024	518,960	22,377	21,099	15,243	84.7	50.2	Oct 28, 2024	J-GAAP
YoY	-5.1%	-41.1%	-42.5%	-41.1%	-40.5%

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	495,000	26,000	24,200	16,800	93.3	35	May 7, 2024	J-GAAP
Apr - Sep, 2024 Results	518,960	22,377	21,099	15,243	84.7	35	Oct 28, 2024	J-GAAP
Revision Rate	+4.8%	-13.9%	-12.8%	-9.3%	-9.2%

Guidance Update

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	1,100,000	64,000	60,500	42,000	235.4	70	May 7, 2024	J-GAAP
Mar, 2025 New	1,040,000	44,500	42,000	30,000	168.2	70	Oct 28, 2024	J-GAAP
Revision Rate	-5.5%	-30.5%	-30.6%	-28.6%	-28.6%

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	481,757	25,733	25,299	22,205	122.4	40	May 7, 2024	J-GAAP
Oct - Mar, 2024 Guidance	521,040	22,123	20,901	14,757	82.7	35	Oct 28, 2024	J-GAAP
YoY	+8.2%	-14.0%	-17.4%	-33.5%	-32.4%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	1,029,263	61,646	56,832	41,030	221.6	46.67	May 8, 2023	J-GAAP
Mar, 2024	1,028,718	63,733	61,966	48,069	264.9	66.67	May 7, 2024	J-GAAP
Mar, 2025 Guidance	1,040,000	44,500	42,000	30,000	168.2	70	Oct 28, 2024	J-GAAP
YoY	+1.1%	-30.2%	-32.2%	-37.6%	-36.5%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	268,399	17,347	17,056	12,284	67.6	6.5	Oct 30, 2023	J-GAAP
Oct - Dec, 2023	253,342	13,310	12,126	9,294	51.1	5.3	Jan 29, 2024	J-GAAP
Jan - Mar, 2024	228,415	12,423	13,173	12,911	71.1	5.4	May 7, 2024	J-GAAP
Apr - Jun, 2024	256,330	12,047	11,947	8,030	44.6	4.7	Jul 29, 2024	J-GAAP
Jul - Sep, 2024	262,630	10,330	9,152	7,213	40.1	3.9	Oct 28, 2024	J-GAAP
YoY	-2.1%	-40.5%	-46.3%	-41.3%	-40.7%