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NAGOYA ELECTRIC WORKS CO.,LTD., First Half Ordinary Profit Turns to Profit

Thu Oct 31, 2024 3:40 pm JST Earnings

6797 NAGOYA ELECTRIC WORKS CO.,LTD. 【J-GAAP】

Earnings Report

NAGOYA ELECTRIC WORKS CO.,LTD. <6797> [TSE-S] announced its financial results after the market closed on October 31st (15:40). The consolidated ordinary profit/loss for the cumulative second quarter of the fiscal year ending March 2025 (April to September) turned into a profit of 349 million yen (compared to a loss of 6 million yen in the same period last year), exceeded the previous forecast of 270 million yen.

However, The progress rate against the 2.44 billion yen full-year plan was 14.3%, also falling below the five-year average of 18.7%.

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 11.3% from the same period last year to 2.09 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit/loss turned to a profit of profit of 284 million yen (compared to a loss of 21 million yen in the same period last year). The operating profit margin drastically improved from 0.0% in the same period last year to 9.9%.

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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 6,088 509 512 153 13.1 21.0 Oct 31, 2022 J-GAAP
Apr - Sep, 2023 6,379 7 -6 -45 -3.9 Oct 31, 2023 J-GAAP
Apr - Sep, 2024 5,627 343 349 224 19.2 14.3 Oct 31, 2024 J-GAAP
YoY -11.8% +4,800.0%

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 5,980 240 270 60 5.1 0 May 14, 2024 J-GAAP
Apr - Sep, 2024 Results 5,627 343 349 224 19.2 0 Oct 31, 2024 J-GAAP
Revision Rate -5.9% +42.9% +29.3% +273.3% +275.0%

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 11,203 2,337 2,357 1,725 147.4 35 May 14, 2024 J-GAAP
Oct - Mar, 2024 Guidance 12,373 2,057 2,091 1,476 125.8 37.50 Oct 31, 2024 J-GAAP
YoY +10.4% -12.0% -11.3% -14.4% -14.6%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 18,009 2,496 2,439 1,597 136.7 35 May 11, 2023 J-GAAP
Mar, 2024 17,582 2,344 2,351 1,680 143.5 35 May 14, 2024 J-GAAP
Mar, 2025 Guidance 18,000 2,400 2,440 1,700 144.9 37.50 May 14, 2024 J-GAAP
YoY +2.4% +2.4% +3.8% +1.2% +1.0%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 3,622 0 -21 -39 -3.4 0.0 Oct 31, 2023 J-GAAP
Oct - Dec, 2023 3,337 227 241 154 13.2 6.8 Jan 31, 2024 J-GAAP
Jan - Mar, 2024 7,866 2,110 2,116 1,571 134.2 26.8 May 14, 2024 J-GAAP
Apr - Jun, 2024 2,441 29 65 39 3.4 1.2 Jul 31, 2024 J-GAAP
Jul - Sep, 2024 3,186 314 284 185 15.9 9.9 Oct 31, 2024 J-GAAP
YoY -12.0%

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