Elematec Corporation, First Half Net Income Decreases by 7%, Second Half Dividend Postponed

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Tue Oct 29, 2024 5:00 pm JST Earnings

2715 Elematec Corporation 【J-GAAP】

Earnings Report

Elematec Corporation <2715> [TSE-P] announced its financial results (based on IFRS) after the market closed on October 29th (17:00). The consolidated net income for the cumulative second quarter of the fiscal year ending March 2025 (April to September) decreased by 7.2% from the same period last year to 3.06 billion yen. The progress rate against the 6 billion yen full-year plan was 51.1%, below the same period of the previous year of 57.7%.

Based on the first-half performance announced by the company and the unchanged full-year plan, our calculation indicates that the consolidated net income for the October to March period (second half) is expected to grow by 21.0% from the same period last year, reaching 2.93 billion yen.

At the same time, In conjunction with a Tender Offer Bid (TOB), the company has decided to forgo the the second half of 50 yen for the current fiscal year.

In the most recent three-month period, from July to September (2Q), the consolidated net income grew by 4.4% from the same period last year, reaching 1.89 billion yen. The operating profit margin improved from 5.0% in the same period last year to 5.6%.

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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	123,167	6,628	6,122	4,164	101.7	55.0	Oct 28, 2022	J-GAAP
Apr - Sep, 2023	102,102	5,034	4,635	3,305	80.7	57.1	Oct 27, 2023	IFRS
Apr - Sep, 2024	98,360	4,996	4,433	3,068	74.9	51.2	Oct 29, 2024	IFRS
YoY	-3.7%	-0.8%	-4.4%	-7.2%	-7.2%

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	－	40	Apr 25, 2024	IFRS
Apr - Sep, 2024 Results	98,360	4,996	4,433	3,068	74.9	40	Oct 29, 2024	IFRS
Revision Rate	－	－	－	－	－

Guidance Update

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	216,500	9,350	8,650	6,000	146.5	90	Apr 25, 2024	IFRS
Mar, 2025 New	216,500	9,350	8,650	6,000	146.5	40	Oct 29, 2024	IFRS
Revision Rate	0.0%	0.0%	0.0%	0.0%	0.0%

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	92,248	4,018	3,481	2,424	59.2	45	Apr 25, 2024	IFRS
Oct - Mar, 2024 Guidance	118,140	4,354	4,217	2,932	71.6	0	Oct 29, 2024	IFRS
YoY	+28.1%	+8.4%	+21.1%	+21.0%	+20.9%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	239,774	12,052	11,130	7,696	188.0	76	Apr 25, 2023	J-GAAP
Mar, 2024	194,350	9,052	8,116	5,729	139.9	85	Apr 25, 2024	IFRS
Mar, 2025 Guidance	216,500	9,350	8,650	6,000	146.5	40	Oct 29, 2024	IFRS
YoY	+11.4%	+3.3%	+6.6%	+4.7%	+4.7%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	51,268	2,538	2,354	1,810	44.2	5.0	Oct 27, 2023	IFRS
Oct - Dec, 2023	47,775	2,009	1,789	1,209	29.5	4.2	Jan 30, 2024	J-GAAP
Jan - Mar, 2024	44,440	2,487	2,124	1,460	35.7	5.6	Apr 25, 2024	IFRS
Apr - Jun, 2024	47,506	2,165	1,869	1,178	28.8	4.6	Jul 29, 2024	IFRS
Jul - Sep, 2024	50,854	2,831	2,564	1,890	46.2	5.6	Oct 29, 2024	IFRS
YoY	-0.8%	+11.5%	+8.9%	+4.4%	+4.4%