WOWOW INC., First Half Net Income Turns to Loss, July-September Net Income Turns to Loss

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Thu Oct 31, 2024 1:30 pm JST Earnings

4839 WOWOW INC. 【J-GAAP】

Earnings Report

WOWOW INC. <4839> [TSE-P] announced its financial results in the afternoon session on October 31st (13:30). The consolidated net income/loss for the cumulative second quarter of the fiscal year ending March 2025 (April to September) turned into a loss of 179 million yen (compared to a profit of 720 million yen in the same period last year).

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 significant drop by 51.9% from the same period last year to 179 million yen.

In the most recent three-month period, from July to September (2Q), the consolidated net income/loss turned to a loss of 1.28 billion yen (compared to a profit of 269 million yen in the same period last year). The operating profit/loss margin drastically worsened from 2.8% in the same period last year to -1.0%.

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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	38,463	2,131	2,065	1,333	46.5	58.2	Oct 31, 2022	J-GAAP
Apr - Sep, 2023	36,614	1,039	1,467	720	25.6	71.3	Oct 31, 2023	J-GAAP
Apr - Sep, 2024	37,361	1,212	1,605	-179	-6.4	107.0	Oct 31, 2024	J-GAAP
YoY	+2.0%	+16.7%	+9.4%	－	－

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	37,100	900	1,400	-200	-7.1	0	Sep 27, 2024	J-GAAP
Apr - Sep, 2024 Results	37,361	1,212	1,605	-179	-6.4	0	Oct 31, 2024	J-GAAP
Revision Rate	+0.7%	+34.7%	+14.6%	+10.5%	+9.9%

Guidance Update

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	75,500	700	1,500	0	0.0	30	Sep 27, 2024	J-GAAP
Mar, 2025 New	75,600	700	1,500	0	0.0	30	Oct 31, 2024	J-GAAP
Revision Rate	+0.1%	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	38,255	411	590	372	13.2	30	May 15, 2024	J-GAAP
Oct - Mar, 2024 Guidance	38,239	-512	-105	179	0.0	30	Oct 31, 2024	J-GAAP
YoY	0.0%	－	－	-51.9%	－

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	77,101	3,225	3,547	2,398	83.8	50	May 15, 2023	J-GAAP
Mar, 2024	74,869	1,450	2,057	1,092	38.8	30	May 15, 2024	J-GAAP
Mar, 2025 Guidance	75,600	700	1,500	0	0.0	30	Oct 31, 2024	J-GAAP
YoY	+1.0%	-51.7%	-27.1%	－	－

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	18,300	508	735	269	9.6	2.8	Oct 31, 2023	J-GAAP
Oct - Dec, 2023	18,720	1,385	1,516	1,037	36.9	7.4	Jan 31, 2024	J-GAAP
Jan - Mar, 2024	19,535	-974	-926	-665	-23.6	-5.0	May 15, 2024	J-GAAP
Apr - Jun, 2024	18,791	1,398	1,653	1,107	39.3	7.4	Jul 31, 2024	J-GAAP
Jul - Sep, 2024	18,570	-186	-48	-1,286	-45.8	-1.0	Oct 31, 2024	J-GAAP
YoY	+1.5%	－	－	－	－