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SAFTEC CO.,LTD., First Half Ordinary Profit Revised Downward to an Unexpected 39%Decrease

Thu Oct 31, 2024 3:10 pm JST Earnings

7464 SAFTEC CO.,LTD. 【J-GAAP】

Earnings Report

SAFTEC CO.,LTD. <7464> [TSE-S] announced its financial results after the market closed on October 31st (15:10). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) dropped by 39.0% from the same period last year to 105 million yen, resulting in a decrease in profits compared to the previous forecast of a 16.9% increase.

The progress rate against the 600 million yen full-year plan was 17.5%, also falling below the five-year average of 40.0%.

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 expand by 32.0% from the same period last year, reaching 495 million yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit dropped to 119 million yen, a 44.7% decrease compared to the same period last year. The operating profit margin drastically worsened from 8.2% 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 5,023 445 442 282 147.7 50.6 Oct 28, 2022 J-GAAP
Apr - Sep, 2023 4,947 164 172 102 56.3 31.4 Oct 30, 2023 J-GAAP
Apr - Sep, 2024 5,176 104 105 31 17.7 17.5 Oct 31, 2024 J-GAAP
YoY +4.6% -36.6% -39.0% -69.6% -68.6%

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 4,960 198 201 124 69.9 0 May 9, 2024 J-GAAP
Apr - Sep, 2024 Results 5,176 104 105 31 17.7 0 Oct 31, 2024 J-GAAP
Revision Rate +4.4% -47.5% -47.8% -75.0% -74.7%

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 5,176 371 375 244 135.2 85 May 9, 2024 J-GAAP
Oct - Mar, 2024 Guidance 5,157 484 495 364 205.0 85 Oct 31, 2024 J-GAAP
YoY -0.4% +30.5% +32.0% +49.2% +51.6%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 9,967 874 874 575 300.6 85 May 9, 2023 J-GAAP
Mar, 2024 10,123 535 547 346 191.8 85 May 9, 2024 J-GAAP
Mar, 2025 Guidance 10,333 588 600 395 222.5 85 May 9, 2024 J-GAAP
YoY +2.1% +9.9% +9.7% +14.2% +16.0%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 2,546 210 215 171 94.5 8.2 Oct 30, 2023 J-GAAP
Oct - Dec, 2023 2,843 251 254 152 83.9 8.8 Jan 31, 2024 J-GAAP
Jan - Mar, 2024 2,333 120 121 92 51.0 5.1 May 9, 2024 J-GAAP
Apr - Jun, 2024 2,544 -15 -14 -40 -22.5 -0.6 Jul 31, 2024 J-GAAP
Jul - Sep, 2024 2,632 119 119 71 40.5 4.5 Oct 31, 2024 J-GAAP
YoY +3.4% -43.3% -44.7% -58.5% -57.2%

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