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

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 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%

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