Nippon Air Conditioning Services Co., Ltd., First Half Ordinary Profit Increases by 47%, July-September Ordinary Profit Increases by 17%

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Thu Oct 31, 2024 3:40 pm JST Earnings

4658 Nippon Air Conditioning Services Co., Ltd. 【J-GAAP】

Earnings Report

Nippon Air Conditioning Services Co., Ltd. <4658> [TSE-P] announced its financial results after the market closed on October 31st (15:40). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) expanded to 1.88 billion yen, an increase of 47.3% compared to the same period last year. The progress rate against the 3.9 billion yen full-year plan was 48.3%, exceeding the five-year average of 36.7%.

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 decrease by 22.0% from the same period last year to 2.01 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit grew by 17.3% from the same period last year, reaching 1.19 billion yen. The operating profit margin improved from 7.4% in the same period last year to 8.7%.

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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	21,874	673	821	462	13.5	26.9	Oct 31, 2022	J-GAAP
Apr - Sep, 2023	24,130	1,123	1,278	776	22.7	33.1	Oct 31, 2023	J-GAAP
Apr - Sep, 2024	26,930	1,791	1,883	1,178	34.2	48.3	Oct 31, 2024	J-GAAP
YoY	+11.6%	+59.5%	+47.3%	+51.8%	+51.2%

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	ー	ー	ー	ー	－	20	May 13, 2024	J-GAAP
Apr - Sep, 2024 Results	26,930	1,791	1,883	1,178	34.2	20	Oct 31, 2024	J-GAAP
Revision Rate	－	－	－	－	－

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	34,102	2,507	2,585	1,949	56.8	24	May 13, 2024	J-GAAP
Oct - Mar, 2024 Guidance	34,070	1,909	2,017	1,622	47.0	20	Oct 31, 2024	J-GAAP
YoY	-0.1%	-23.9%	-22.0%	-16.8%	-17.2%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	52,886	2,847	3,051	1,940	56.7	28	May 12, 2023	J-GAAP
Mar, 2024	58,232	3,630	3,863	2,725	79.4	39	May 13, 2024	J-GAAP
Mar, 2025 Guidance	61,000	3,700	3,900	2,800	81.1	40	May 13, 2024	J-GAAP
YoY	+4.8%	+1.9%	+1.0%	+2.8%	+2.2%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	13,087	964	1,021	689	20.1	7.4	Oct 31, 2023	J-GAAP
Oct - Dec, 2023	15,487	1,244	1,287	899	26.2	8.0	Jan 31, 2024	J-GAAP
Jan - Mar, 2024	18,615	1,263	1,298	1,050	30.6	6.8	May 13, 2024	J-GAAP
Apr - Jun, 2024	12,748	563	685	368	10.7	4.4	Jul 31, 2024	J-GAAP
Jul - Sep, 2024	14,182	1,228	1,198	810	23.5	8.7	Oct 31, 2024	J-GAAP
YoY	+8.4%	+27.4%	+17.3%	+17.6%	+17.1%