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

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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	26.3	21.0	Oct 31, 2022	J-GAAP
Apr - Sep, 2023	6,379	7	-6	-45	-7.7	ー	Oct 31, 2023	J-GAAP
Apr - Sep, 2024	5,627	343	349	224	38.4	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	10.2	0	May 14, 2024	J-GAAP
Apr - Sep, 2024 Results	5,627	343	349	224	38.4	0	Oct 31, 2024	J-GAAP
Revision Rate	-5.9%	+42.9%	+29.3%	+273.3%	+275.3%

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	294.8	70	May 14, 2024	J-GAAP
Oct - Mar, 2024 Guidance	12,373	2,057	2,091	1,476	251.6	75	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	273.4	70	May 11, 2023	J-GAAP
Mar, 2024	17,582	2,344	2,351	1,680	287.1	70	May 14, 2024	J-GAAP
Mar, 2025 Guidance	18,000	2,400	2,440	1,700	289.8	75	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	-6.7	0.0	Oct 31, 2023	J-GAAP
Oct - Dec, 2023	3,337	227	241	154	26.4	6.8	Jan 31, 2024	J-GAAP
Jan - Mar, 2024	7,866	2,110	2,116	1,571	268.5	26.8	May 14, 2024	J-GAAP
Apr - Jun, 2024	2,441	29	65	39	6.7	1.2	Jul 31, 2024	J-GAAP
Jul - Sep, 2024	3,186	314	284	185	31.7	9.9	Oct 31, 2024	J-GAAP
YoY	-12.0%	－	－	－	－