BOURBON CORPORATION, The Current Fiscal Year Ordinary Profit Revised Upward to an Unexpected 26% Increase, Highest in Seven Terms

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Wed Oct 30, 2024 3:15 pm JST Earnings

2208 BOURBON CORPORATION 【J-GAAP】

Earnings Report

BOURBON CORPORATION <2208> [TSE-S] announced its financial results after the market closed on October 30th (15:15). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) surged by 3.2 times that of the same period last year, reaching 2.05 billion yen, exceeded the previous forecast of 1.6 billion yen.

In addition, the full-year consolidated ordinary profit has been revised upward by 28.6%, from the previous forecast of 4.2 billion yen to 5.4 billion yen (compared to 4.28 billion yen in the previous period), reaches new record high for the first time in seven terms, turning to a 26.1% increase in the consolidated ordinary profit outlook.

Based on the first-half performance announced by the company and the full-year plan, our calculation indicates that the consolidated ordinary profit for the October to March period (second half) is expected to decrease by 8.0% from the same period last year to 3.34 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit/loss turned to a profit of profit of 139 million yen (compared to a loss of 229 million yen in the same period last year). The operating profit/loss margin significantly improved from -1.6% in the same period last year to 1.9%.

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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	42,920	-275	219	122	5.1	11.9	Oct 28, 2022	J-GAAP
Apr - Sep, 2023	46,162	323	647	458	19.1	15.1	Oct 27, 2023	J-GAAP
Apr - Sep, 2024	51,281	2,060	2,055	1,721	71.7	38.1	Oct 30, 2024	J-GAAP
YoY	+11.1%	+537.8%	+217.6%	+275.8%	+275.2%

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	49,300	1,300	1,600	1,200	50.0	18.50	Jul 30, 2024	J-GAAP
Apr - Sep, 2024 Results	51,281	2,060	2,055	1,721	71.7	18.50	Oct 30, 2024	J-GAAP
Revision Rate	+4.0%	+58.5%	+28.4%	+43.4%	+43.5%

Guidance Update

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	108,300	4,100	4,200	3,100	128.2	37	Apr 26, 2024	J-GAAP
Mar, 2025 New	111,300	5,400	5,400	3,800	157.2	37	Oct 30, 2024	J-GAAP
Revision Rate	+2.8%	+31.7%	+28.6%	+22.6%	+22.6%

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	57,555	3,487	3,636	2,613	108.8	13.50	Apr 26, 2024	J-GAAP
Oct - Mar, 2024 Guidance	60,019	3,340	3,345	2,079	86.0	18.50	Oct 30, 2024	J-GAAP
YoY	+4.3%	-4.2%	-8.0%	-20.4%	-21.0%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	97,383	1,613	1,838	1,096	45.6	26	Apr 28, 2023	J-GAAP
Mar, 2024	103,717	3,810	4,283	3,071	127.9	27	Apr 26, 2024	J-GAAP
Mar, 2025 Guidance	111,300	5,400	5,400	3,800	157.2	37	Oct 30, 2024	J-GAAP
YoY	+7.3%	+41.7%	+26.1%	+23.7%	+22.9%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	21,312	-347	-229	-75	-3.1	-1.6	Oct 27, 2023	J-GAAP
Oct - Dec, 2023	29,113	1,644	1,570	1,149	47.9	5.6	Jan 30, 2024	J-GAAP
Jan - Mar, 2024	28,442	1,843	2,066	1,464	61.0	6.5	Apr 26, 2024	J-GAAP
Apr - Jun, 2024	27,085	1,609	1,916	1,518	63.2	5.9	Jul 30, 2024	J-GAAP
Jul - Sep, 2024	24,196	451	139	203	8.5	1.9	Oct 30, 2024	J-GAAP
YoY	+13.5%	－	－	－	－