PRONEXUS INC., First Half Net Income Increases by 57%, Exceeds Full-Year Plan

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Thu Oct 31, 2024 3:00 pm JST Earnings

7893 PRONEXUS INC. 【IFRS】

Earnings Report

PRONEXUS INC. <7893> [TSE-P] announced its financial results (based on IFRS) after the market closed on October 31st (15:00). The consolidated net income for the cumulative second quarter of the fiscal year ending March 2025 (April to September) expanded to 3.13 billion yen, an increase of 57.2% compared to the same period last year. The progress rate against the full-year plan of 2.65 billion yen is 118.2%, already exceeding the target and also exceeding the five-year average of 111.9%.

Based on the first-half performance announced by the company and the unchanged full-year plan, our calculation indicates that the consolidated net loss for the October to March period (second half) is expected to expand to a loss of 482 million yen (compared to a loss of 214 million yen in the same period last year).

In the most recent three-month period, from July to September (2Q), the consolidated net loss improved to a deficit of loss of 60 million yen (compared to a loss of 189 million yen in the same period last year). The operating profit/loss margin significantly improved from -4.3% in the same period last year to -1.1%.

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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	16,018	2,698	2,756	1,864	73.1	115.3	Oct 31, 2022	IFRS
Apr - Sep, 2023	17,716	2,905	2,935	1,993	78.1	116.1	Oct 31, 2023	IFRS
Apr - Sep, 2024	17,887	3,163	4,595	3,132	122.8	117.8	Oct 31, 2024	IFRS
YoY	+1.0%	+8.9%	+56.6%	+57.2%	+57.1%

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	18,300	2,900	4,200	2,850	111.7	26	May 13, 2024	IFRS
Apr - Sep, 2024 Results	17,887	3,163	4,595	3,132	122.8	26	Oct 31, 2024	IFRS
Revision Rate	-2.3%	+9.1%	+9.4%	+9.9%	+9.9%

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	12,401	-470	-406	-214	-8.4	18	May 13, 2024	IFRS
Oct - Mar, 2024 Guidance	13,113	-663	-695	-482	-18.9	26	Oct 31, 2024	IFRS
YoY	+5.7%	-41.1%	-71.2%	-125.2%	-125.1%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	26,804	2,212	2,391	1,618	63.4	36	May 11, 2023	IFRS
Mar, 2024	30,117	2,435	2,529	1,779	69.8	36	May 13, 2024	IFRS
Mar, 2025 Guidance	31,000	2,500	3,900	2,650	103.9	52	May 13, 2024	IFRS
YoY	+2.9%	+2.7%	+54.2%	+49.0%	+48.9%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	5,916	-252	-249	-189	-7.4	-4.3	Oct 31, 2023	IFRS
Oct - Dec, 2023	6,275	216	259	215	8.4	3.4	Jan 31, 2024	IFRS
Jan - Mar, 2024	6,126	-686	-665	-429	-16.8	-11.2	May 13, 2024	IFRS
Apr - Jun, 2024	11,794	3,232	4,676	3,192	125.1	27.4	Jul 31, 2024	IFRS
Jul - Sep, 2024	6,093	-69	-81	-60	-2.4	-1.1	Oct 31, 2024	IFRS
YoY	+3.0%	+72.6%	+67.5%	+68.3%	+68.3%