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AICHI ELECTRIC CO.,LTD., First Half Ordinary Profit Increases by 5%, July-September Ordinary Profit Increases by 11%

Thu Oct 31, 2024 2:40 pm JST Earnings

6623 AICHI ELECTRIC CO.,LTD. 【J-GAAP】

Earnings Report

AICHI ELECTRIC CO.,LTD. <6623> [NSE-P] announced its financial results in the afternoon session on October 31st (14:40). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) increased by 4.8% from the same period last year, reaching 4.55 billion yen. The progress rate against the 7 billion yen full-year plan was 65.1%, also surpassing the five-year average of 50.1%.

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 drop by 38.3% from the same period last year to 2.44 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit grew by 10.8% from the same period last year, reaching 2.13 billion yen. The operating profit margin improved from 4.9% in the same period last year to 6.8%.

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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 55,281 4,649 5,960 3,837 404.4 67.8 Oct 31, 2022 J-GAAP
Apr - Sep, 2023 53,788 3,258 4,347 3,015 317.8 52.3 Oct 31, 2023 J-GAAP
Apr - Sep, 2024 57,930 4,074 4,555 3,205 340.7 65.1 Oct 31, 2024 J-GAAP
YoY +7.7% +25.0% +4.8% +6.3% +7.2%

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 58,000 3,800 4,500 3,200 340.6 80 Jul 30, 2024 J-GAAP
Apr - Sep, 2024 Results 57,930 4,074 4,555 3,205 340.7 80 Oct 31, 2024 J-GAAP
Revision Rate -0.1% +7.2% +1.2% +0.2% +0.0%

Guidance Update

Full Year Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2025 Prev 120,000 7,000 7,000 4,800 511.0 160 Apr 30, 2024 J-GAAP
Mar, 2025 New 117,000 7,000 7,000 4,800 511.0 160 Oct 31, 2024 J-GAAP
Revision Rate -2.5% 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 56,807 3,801 3,965 2,922 307.9 80 Apr 30, 2024 J-GAAP
Oct - Mar, 2024 Guidance 59,070 2,926 2,445 1,595 169.8 80 Oct 31, 2024 J-GAAP
YoY +4.0% -23.0% -38.3% -45.4% -44.9%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 114,286 7,504 8,793 5,954 627.4 160 Apr 28, 2023 J-GAAP
Mar, 2024 110,595 7,059 8,312 5,937 625.6 160 Apr 30, 2024 J-GAAP
Mar, 2025 Guidance 117,000 7,000 7,000 4,800 511.0 160 Oct 31, 2024 J-GAAP
YoY +5.8% -0.8% -15.8% -19.2% -18.3%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 27,078 1,328 1,924 1,336 140.8 4.9 Oct 31, 2023 J-GAAP
Oct - Dec, 2023 28,925 2,187 2,104 1,480 156.0 7.6 Jan 31, 2024 J-GAAP
Jan - Mar, 2024 27,882 1,614 1,861 1,442 151.9 5.8 Apr 30, 2024 J-GAAP
Apr - Jun, 2024 26,077 1,913 2,424 1,657 175.8 7.3 Jul 30, 2024 J-GAAP
Jul - Sep, 2024 31,853 2,161 2,131 1,548 164.5 6.8 Oct 31, 2024 J-GAAP
YoY +17.6% +62.7% +10.8% +15.9% +16.9%

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