SPK CORPORATION, First Half Ordinary Profit Decreases by 11%, July-September Ordinary Profit Decreases by 8%

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Thu Oct 31, 2024 3:00 pm JST Earnings

7466 SPK CORPORATION 【J-GAAP】

Earnings Report

SPK CORPORATION <7466> [TSE-P] announced its financial results after the market closed on October 31st (15:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) decreased by 11.3% from the same period last year to 1.71 billion yen. However, The progress rate against the 3.42 billion yen full-year plan was 50.1%, almost the same as the five-year average of 47.4%.

Based on the first-half performance announced by the company and the unchanged full-year plan, our calculation indicates that the consolidated ordinary profit for the October to March period (second half) is expected to grow by 19.8% from the same period last year, reaching 1.7 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit decreased to 822 million yen, a 8.4% decrease compared to the same period last year. The operating profit margin worsened from 5.0% in the same period last year to 4.5%.

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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	25,761	1,049	1,185	816	81.4	40.7	Oct 31, 2022	J-GAAP
Apr - Sep, 2023	30,869	1,774	1,931	1,321	131.6	57.5	Oct 31, 2023	J-GAAP
Apr - Sep, 2024	33,432	1,565	1,712	1,188	118.2	50.1	Oct 31, 2024	J-GAAP
YoY	+8.3%	-11.8%	-11.3%	-10.1%	-10.2%

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	34,500	1,700	1,800	1,250	123.9	28	May 7, 2024	J-GAAP
Apr - Sep, 2024 Results	33,432	1,565	1,712	1,188	118.2	28	Oct 31, 2024	J-GAAP
Revision Rate	-3.1%	-7.9%	-4.9%	-5.0%	-4.6%

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	32,433	1,371	1,426	1,071	106.7	27	May 7, 2024	J-GAAP
Oct - Mar, 2024 Guidance	33,568	1,635	1,708	1,212	120.1	32	Oct 31, 2024	J-GAAP
YoY	+3.5%	+19.3%	+19.8%	+13.2%	+12.6%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	54,695	2,720	2,910	2,059	205.1	44	May 2, 2023	J-GAAP
Mar, 2024	63,302	3,145	3,357	2,392	238.2	50	May 7, 2024	J-GAAP
Mar, 2025 Guidance	67,000	3,200	3,420	2,400	237.9	60	May 7, 2024	J-GAAP
YoY	+5.8%	+1.7%	+1.9%	+0.3%	-0.1%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	15,838	791	897	624	62.2	5.0	Oct 31, 2023	J-GAAP
Oct - Dec, 2023	16,878	892	929	648	64.6	5.3	Jan 31, 2024	J-GAAP
Jan - Mar, 2024	15,555	479	497	423	42.1	3.1	May 7, 2024	J-GAAP
Apr - Jun, 2024	16,669	804	890	631	62.9	4.8	Aug 9, 2024	J-GAAP
Jul - Sep, 2024	16,763	761	822	557	55.4	4.5	Oct 31, 2024	J-GAAP
YoY	+5.8%	-3.8%	-8.4%	-10.7%	-10.9%