Nippon Avionics Co., Ltd., First Half Ordinary Profit Increases by 23%, July-September Ordinary Profit Increases by 26%

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Tue Oct 29, 2024 6:00 pm JST Earnings

6946 Nippon Avionics Co., Ltd. 【J-GAAP】

Earnings Report

Nippon Avionics Co., Ltd. <6946> [TSE-S] announced its financial results after the market closed on October 29th (18:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) increased by 22.7% from the same period last year, reaching 1.09 billion yen. The progress rate against the 2.55 billion yen full-year plan was 43.1%, exceeding the five-year average of 36.2%.

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 15.5% from the same period last year, reaching 1.45 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit grew by 26.0% from the same period last year, reaching 791 million yen. The operating profit margin jumped from 12.5% in the same period last year to 16.4%.

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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	7,862	578	565	527	37.4	29.4	Oct 31, 2022	J-GAAP
Apr - Sep, 2023	8,669	910	896	744	46.7	41.6	Oct 30, 2023	J-GAAP
Apr - Sep, 2024	9,106	1,148	1,099	734	45.6	43.1	Oct 29, 2024	J-GAAP
YoY	+5.0%	+26.2%	+22.7%	-1.3%	-2.4%

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	ー	ー	ー	ー	－	0	May 10, 2024	J-GAAP
Apr - Sep, 2024 Results	9,106	1,148	1,099	734	45.6	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	9,386	1,268	1,256	1,405	86.2	6	May 10, 2024	J-GAAP
Oct - Mar, 2024 Guidance	12,894	1,452	1,451	1,166	75.8	6	Oct 29, 2024	J-GAAP
YoY	+37.4%	+14.5%	+15.5%	-17.0%	-12.1%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	17,754	1,951	1,925	1,820	128.2	6	May 12, 2023	J-GAAP
Mar, 2024	18,055	2,178	2,152	2,149	131.9	6	May 10, 2024	J-GAAP
Mar, 2025 Guidance	22,000	2,600	2,550	1,900	123.5	6	May 10, 2024	J-GAAP
YoY	+21.8%	+19.4%	+18.5%	-11.6%	-6.4%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	5,064	635	628	616	38.7	12.5	Oct 30, 2023	J-GAAP
Oct - Dec, 2023	4,584	599	594	422	26.1	13.1	Jan 31, 2024	J-GAAP
Jan - Mar, 2024	4,802	669	662	983	60.3	13.9	May 10, 2024	J-GAAP
Apr - Jun, 2024	4,087	325	308	191	11.5	8.0	Aug 2, 2024	J-GAAP
Jul - Sep, 2024	5,019	823	791	543	33.7	16.4	Oct 29, 2024	J-GAAP
YoY	-0.9%	+29.6%	+26.0%	-11.9%	-12.8%