CTS Co.,Ltd., First Half Ordinary Profit Increases by 13%, July-September Ordinary Profit Increases by 16%

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Thu Oct 31, 2024 3:30 pm JST Earnings

4345 CTS Co.,Ltd. 【J-GAAP】

Earnings Report

CTS Co.,Ltd. <4345> [TSE-P] announced its financial results after the market closed on October 31st (15:30). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) increased by 12.9% from the same period last year, reaching 1.4 billion yen. The progress rate against the 2.95 billion yen full-year plan was 47.7%, exceeding the five-year average of 44.4%.

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 nearly flat at 1.54 billion yen, up 0.3% from the same period last year.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit grew by 15.7% from the same period last year, reaching 767 million yen. The operating profit margin rose from 25.4% in the same period last year to 25.7%.

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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	5,258	1,198	1,160	777	18.3	42.6	Oct 31, 2022	J-GAAP
Apr - Sep, 2023	5,345	1,264	1,247	833	19.7	44.8	Oct 31, 2023	J-GAAP
Apr - Sep, 2024	5,808	1,422	1,408	949	22.5	47.7	Oct 31, 2024	J-GAAP
YoY	+8.7%	+12.5%	+12.9%	+13.9%	+14.6%

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	5,750	1,320	1,250	840	20.0	12.50	Apr 30, 2024	J-GAAP
Apr - Sep, 2024 Results	5,808	1,422	1,408	949	22.5	12.50	Oct 31, 2024	J-GAAP
Revision Rate	+1.0%	+7.7%	+12.6%	+13.0%	+12.6%

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	5,745	1,601	1,538	1,025	24.2	12.50	Apr 30, 2024	J-GAAP
Oct - Mar, 2024 Guidance	6,192	1,578	1,542	1,031	25.0	12.50	Oct 31, 2024	J-GAAP
YoY	+7.8%	-1.4%	+0.3%	+0.6%	+3.1%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	10,797	2,691	2,722	1,758	41.5	22	Apr 28, 2023	J-GAAP
Mar, 2024	11,090	2,865	2,785	1,858	43.9	22.50	Apr 30, 2024	J-GAAP
Mar, 2025 Guidance	12,000	3,000	2,950	1,980	47.9	25	Apr 30, 2024	J-GAAP
YoY	+8.2%	+4.7%	+5.9%	+6.6%	+9.3%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	2,748	698	663	445	10.5	25.4	Oct 31, 2023	J-GAAP
Oct - Dec, 2023	2,898	868	875	591	14.0	30.0	Jan 31, 2024	J-GAAP
Jan - Mar, 2024	2,847	733	663	434	10.3	25.7	Apr 30, 2024	J-GAAP
Apr - Jun, 2024	2,751	636	641	427	10.1	23.1	Jul 31, 2024	J-GAAP
Jul - Sep, 2024	3,057	786	767	522	12.4	25.7	Oct 31, 2024	J-GAAP
YoY	+11.2%	+12.6%	+15.7%	+17.3%	+18.0%