Entrust Inc., First Half Ordinary Profit Increases by 13%, July-September Ordinary Profit Increases by 16%

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Tue Oct 29, 2024 3:00 pm JST Earnings

7191 Entrust Inc. 【J-GAAP】

Earnings Report

Entrust Inc. <7191> [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) increased by 12.6% from the same period last year, reaching 1.14 billion yen. However, The progress rate against the 2.32 billion yen full-year plan was 49.1%, almost the same as the five-year average of 48.9%.

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 11.5% from the same period last year, reaching 1.18 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit grew by 15.5% from the same period last year, reaching 596 million yen. However, the operating profit margin decreased from 23.5% in the same period last year to 23.0%.

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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	2,990	773	771	478	21.4	47.4	Oct 28, 2022	J-GAAP
Apr - Sep, 2023	4,289	1,018	1,012	592	26.5	48.9	Oct 27, 2023	J-GAAP
Apr - Sep, 2024	5,062	1,134	1,140	658	29.4	49.1	Oct 29, 2024	J-GAAP
YoY	+18.0%	+11.4%	+12.6%	+11.1%	+11.1%

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	5,000	1,170	1,170	690	30.8	12.50	May 10, 2024	J-GAAP
Apr - Sep, 2024 Results	5,062	1,134	1,140	658	29.4	12.50	Oct 29, 2024	J-GAAP
Revision Rate	+1.2%	-3.1%	-2.6%	-4.6%	-4.6%

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	4,682	1,055	1,058	635	28.4	9	May 10, 2024	J-GAAP
Oct - Mar, 2024 Guidance	5,168	1,186	1,180	712	31.8	12.50	Oct 29, 2024	J-GAAP
YoY	+10.4%	+12.4%	+11.5%	+12.1%	+12.0%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	6,491	1,627	1,625	1,005	45.0	14	May 12, 2023	J-GAAP
Mar, 2024	8,971	2,073	2,070	1,227	54.9	18	May 10, 2024	J-GAAP
Mar, 2025 Guidance	10,230	2,320	2,320	1,370	61.2	25	May 10, 2024	J-GAAP
YoY	+14.0%	+11.9%	+12.1%	+11.7%	+11.6%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	2,194	516	516	312	14.0	23.5	Oct 27, 2023	J-GAAP
Oct - Dec, 2023	2,288	517	519	285	12.8	22.6	Jan 29, 2024	J-GAAP
Jan - Mar, 2024	2,394	538	539	350	15.7	22.5	May 10, 2024	J-GAAP
Apr - Jun, 2024	2,486	541	544	281	12.6	21.8	Jul 26, 2024	J-GAAP
Jul - Sep, 2024	2,576	593	596	377	16.9	23.0	Oct 29, 2024	J-GAAP
YoY	+17.4%	+14.9%	+15.5%	+20.8%	+20.8%