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SMS Co., Ltd., First Half Ordinary Profit Decreases by 15%, July-September Ordinary Profit Decreases by 30%

Tue Oct 29, 2024 3:00 pm JST Earnings

2175 SMS Co., Ltd. 【J-GAAP】

Earnings Report

SMS Co., Ltd. <2175> [TSE-P] 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 14.7% from the same period last year to 4.92 billion yen. The progress rate against the 11 billion yen full-year plan was 44.8%, also falling below the five-year average of 58.4%.

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 expand by 47.3% from the same period last year, reaching 6.07 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit dropped to 812 million yen, a 30.4% decrease compared to the same period last year. The operating profit margin drastically worsened from 7.9% in the same period last year to 4.0%.

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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 23,334 4,609 5,758 4,129 47.4 65.7 Oct 28, 2022 J-GAAP
Apr - Sep, 2023 27,474 4,701 5,775 4,176 47.8 58.3 Oct 27, 2023 J-GAAP
Apr - Sep, 2024 31,842 3,574 4,926 3,670 42.8 44.8 Oct 29, 2024 J-GAAP
YoY +15.9% -24.0% -14.7% -12.1% -10.4%

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 0 Apr 26, 2024 J-GAAP
Apr - Sep, 2024 Results 31,842 3,574 4,926 3,670 42.8 0 Oct 29, 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 26,499 3,568 4,126 3,051 35.0 20 Apr 26, 2024 J-GAAP
Oct - Mar, 2024 Guidance 33,823 5,522 6,076 4,348 51.2 Oct 29, 2024 J-GAAP
YoY +27.6% +54.8% +47.3% +42.5% +46.1%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 45,667 7,279 8,759 6,406 73.5 15 Apr 28, 2023 J-GAAP
Mar, 2024 53,973 8,269 9,901 7,227 83.0 20 Apr 26, 2024 J-GAAP
Mar, 2025 Guidance 65,665 9,096 11,002 8,018 94.4 Apr 26, 2024 J-GAAP
YoY +21.7% +10.0% +11.1% +10.9% +13.7%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 12,280 972 1,166 787 9.0 7.9 Oct 27, 2023 J-GAAP
Oct - Dec, 2023 11,883 244 396 200 2.3 2.1 Jan 31, 2024 J-GAAP
Jan - Mar, 2024 14,616 3,324 3,730 2,851 32.7 22.7 Apr 26, 2024 J-GAAP
Apr - Jun, 2024 17,426 3,000 4,114 3,163 36.7 17.2 Jul 26, 2024 J-GAAP
Jul - Sep, 2024 14,416 574 812 507 5.9 4.0 Oct 29, 2024 J-GAAP
YoY +17.4% -40.9% -30.4% -35.6% -34.3%

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