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Canare Electric Co., Ltd., January-September (Third Quarter Cumulative) Ordinary Profit Decreases by 8%

Wed Oct 30, 2024 4:00 pm JST Earnings

5819 Canare Electric Co., Ltd. 【J-GAAP】

Earnings Report

Canare Electric Co., Ltd. <5819> [TSE-S] announced its financial results after the market closed on October 30th (16:00). The consolidated ordinary profit for the cumulative third quarter of the fiscal year ending December 2024 (January to September) decreased by 8.3% from the same period last year to 1.07 billion yen. However, The progress rate against the 1.38 billion yen full-year plan was 77.8%, also surpassing the five-year average of 68.1%.

Based on the third-quarter cumulative performance announced by the company and the unchanged full-year plan, our calculation indicates that the consolidated ordinary profit for the October to December period (4Q) is expected to drop by 46.0% from the same period last year to 307 million yen.

In the most recent three-month period, from July to September (3Q), the consolidated ordinary profit decreased to 354 million yen, a 21.5% decrease compared to the same period last year. The operating profit margin decreased from 14.5% in the same period last year to 13.4%.

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Actual Results

Accumulated Results 3rd Quarter
Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Progress Rate vs. First Half Announce Accounting Standards
Jan - Sep, 2022 8,131 740 807 537 79.7 64.0 Oct 28, 2022 J-GAAP
Jan - Sep, 2023 9,040 1,119 1,170 848 125.2 67.3 Oct 27, 2023 J-GAAP
Jan - Sep, 2024 8,956 1,034 1,073 816 119.9 77.8 Oct 30, 2024 J-GAAP
YoY -0.9% -7.6% -8.3% -3.8% -4.3%

Current Period Guidance

Second Half Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Jul - Dec, 2023 6,987 1,005 1,020 670 98.8 39 Jan 26, 2024 J-GAAP
Jul - Dec, 2024 Guidance 6,817 688 661 478 70.1 28 Jul 30, 2024 J-GAAP
YoY -2.4% -31.5% -35.2% -28.7% -29.1%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Dec, 2022 11,167 1,177 1,260 868 128.7 35 Jan 27, 2023 J-GAAP
Dec, 2023 12,872 1,668 1,739 1,188 175.3 62 Jan 26, 2024 J-GAAP
Dec, 2024 Guidance 12,845 1,330 1,380 980 143.8 56 Jan 26, 2024 J-GAAP
YoY -0.2% -20.3% -20.6% -17.5% -18.0%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 3,155 456 451 330 48.7 14.5 Oct 27, 2023 J-GAAP
Oct - Dec, 2023 3,832 549 569 340 50.2 14.3 Jan 26, 2024 J-GAAP
Jan - Mar, 2024 3,172 394 425 342 50.4 12.4 Apr 26, 2024 J-GAAP
Apr - Jun, 2024 2,856 248 294 160 23.5 8.7 Jul 30, 2024 J-GAAP
Jul - Sep, 2024 2,928 392 354 314 46.1 13.4 Oct 30, 2024 J-GAAP
YoY -7.2% -14.0% -21.5% -4.8% -5.3%

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