ESTIC CORPORATION, First Half Ordinary Profit Revised Downward to an Unexpected 5%Decrease

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Tue Oct 29, 2024 3:00 pm JST Earnings

6161 ESTIC CORPORATION 【J-GAAP】

Earnings Report

ESTIC CORPORATION <6161> [TSE-S] announced its financial results after the market closed on October 29th (15:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) decreased by 5.1% from the same period last year to 655 million yen, resulting in a decrease in profits compared to the previous forecast of a 2.0% increase.

The progress rate against the 1.63 billion yen full-year plan was 40.0%, also falling below the five-year average of 48.6%.

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 14.2% from the same period last year, reaching 982 million yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit grew by 22.2% from the same period last year, reaching 496 million yen. However, the operating profit margin decreased from 23.1% in the same period last year to 18.3%.

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	2,816	541	575	358	36.1	37.5	Oct 28, 2022	J-GAAP
Apr - Sep, 2023	3,251	659	690	476	47.9	44.5	Oct 30, 2023	J-GAAP
Apr - Sep, 2024	3,778	623	655	439	44.2	40.0	Oct 29, 2024	J-GAAP
YoY	+16.2%	-5.5%	-5.1%	-7.8%	-7.8%

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	3,780	697	704	493	49.6	0	Apr 26, 2024	J-GAAP
Apr - Sep, 2024 Results	3,778	623	655	439	44.2	0	Oct 29, 2024	J-GAAP
Revision Rate	-0.1%	-10.6%	-7.0%	-11.0%	-10.9%

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	3,876	831	860	657	66.1	25	Apr 26, 2024	J-GAAP
Oct - Mar, 2024 Guidance	4,098	997	982	707	71.0	27	Oct 29, 2024	J-GAAP
YoY	+5.7%	+20.0%	+14.2%	+7.6%	+7.4%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	6,718	1,484	1,534	1,079	108.7	23	Apr 28, 2023	J-GAAP
Mar, 2024	7,127	1,490	1,550	1,133	114.0	25	Apr 26, 2024	J-GAAP
Mar, 2025 Guidance	7,876	1,620	1,637	1,146	115.1	27	Apr 26, 2024	J-GAAP
YoY	+10.5%	+8.7%	+5.6%	+1.1%	+1.0%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	1,689	391	406	284	28.6	23.1	Oct 30, 2023	J-GAAP
Oct - Dec, 2023	1,549	367	400	285	28.7	23.7	Jan 29, 2024	J-GAAP
Jan - Mar, 2024	2,327	464	460	372	37.4	19.9	Apr 26, 2024	J-GAAP
Apr - Jun, 2024	1,275	164	159	97	9.8	12.9	Jul 29, 2024	J-GAAP
Jul - Sep, 2024	2,503	459	496	342	34.4	18.3	Oct 29, 2024	J-GAAP
YoY	+48.2%	+17.4%	+22.2%	+20.4%	+20.4%