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Simplex Holdings, Inc., First Half Net Income Revised Downward to an Unexpected 3%Decrease

Wed Oct 30, 2024 3:00 pm JST Earnings

4373 Simplex Holdings, Inc. 【IFRS】

Earnings Report

Simplex Holdings, Inc. <4373> [TSE-P] announced its financial results (based on IFRS) after the market closed on October 30th (15:00). The consolidated net income for the cumulative second quarter of the fiscal year ending March 2025 (April to September) was 2.59 billion yen, a 2.6% decrease compared to the same period last year, resulting in a decrease in profits compared to the previous forecast of a 21.9% increase.

The progress rate against the 7.28 billion yen full-year plan was 35.6%, also falling below the four-year average of 47.3%.

Based on the first-half performance announced by the company and the full-year plan, our calculation indicates that the consolidated net income for the October to March period (second half) is expected to expand by 32.7% from the same period last year, reaching 4.68 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated net income amounted to 1.52 billion yen, a 0.1% decrease compared to the same period last year. The operating profit margin decreased from 22.6% in the same period last year to 21.0%.

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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 16,867 3,350 3,272 2,207 39.6 44.8 Oct 27, 2022 IFRS
Apr - Sep, 2023 19,543 4,000 3,947 2,664 46.4 45.1 Oct 26, 2023 IFRS
Apr - Sep, 2024 21,876 3,915 3,879 2,594 44.5 36.8 Oct 30, 2024 IFRS
YoY +11.9% -2.1% -1.7% -2.6% -4.1%

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 22,000 4,725 4,707 3,247 55.7 0 Apr 25, 2024 IFRS
Apr - Sep, 2024 Results 21,876 3,915 3,879 2,594 44.5 0 Oct 30, 2024 IFRS
Revision Rate -0.6% -17.1% -17.6% -20.1% -20.0%

Guidance Update

Full Year Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2025 Prev 46,000 10,600 10,554 7,280 127.7 50 Apr 25, 2024 IFRS
Mar, 2025 New 46,800 10,600 10,554 7,280 127.7 50 Oct 30, 2024 IFRS
Revision Rate +1.7% 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 21,165 4,850 4,797 3,530 61.3 42 Apr 25, 2024 IFRS
Oct - Mar, 2024 Guidance 24,924 6,685 6,675 4,686 82.2 50 Oct 30, 2024 IFRS
YoY +17.8% +37.8% +39.1% +32.7% +34.1%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 34,946 7,451 7,298 5,432 96.9 25 Apr 27, 2023 IFRS
Mar, 2024 40,708 8,850 8,744 6,194 107.5 42 Apr 25, 2024 IFRS
Mar, 2025 Guidance 46,800 10,600 10,554 7,280 127.7 50 Oct 30, 2024 IFRS
YoY +15.0% +19.8% +20.7% +17.5% +18.8%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 10,139 2,292 2,254 1,523 26.5 22.6 Oct 26, 2023 IFRS
Oct - Dec, 2023 10,408 2,387 2,360 1,581 27.5 22.9 Jan 30, 2024 IFRS
Jan - Mar, 2024 10,757 2,463 2,437 1,949 33.8 22.9 Apr 25, 2024 IFRS
Apr - Jun, 2024 10,954 1,626 1,615 1,073 18.4 14.8 Jul 25, 2024 IFRS
Jul - Sep, 2024 10,922 2,289 2,264 1,521 26.1 21.0 Oct 30, 2024 IFRS
YoY +7.7% -0.1% +0.4% -0.1% -1.6%

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