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XNET Corporation, First Half Ordinary Profit Decreases by 30%, July-September Ordinary Profit Decreases by 34%

Thu Oct 31, 2024 4:00 pm JST Earnings

4762 XNET Corporation 【J-GAAP】

Earnings Report

XNET Corporation <4762> [TSE-S] announced its financial results after the market closed on October 31st (16:00). The ordinary profit (non-consolidated) for the cumulative second quarter of the fiscal year ending March 2025 (April to September) decreased by 29.7% from the same period last year to 391 million yen. The progress rate against the 850 million yen full-year plan was 46.0%, almost the same as the five-year average of 45.9%.

Based on the first-half performance announced by the company and the unchanged full-year plan, our calculation indicates that the ordinary profit for the October to March period (second half) is expected to decrease by 15.8% from the same period last year to 459 million yen.

In the most recent three-month period, from July to September (2Q), the ordinary profit dropped to 212 million yen, a 34.0% decrease compared to the same period last year. The operating profit margin decreased from 21.8% in the same period last year to 16.0%.

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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 2,676 489 505 343 41.6 51.3 Oct 28, 2022 J-GAAP
Apr - Sep, 2023 2,762 538 556 377 45.7 50.5 Oct 30, 2023 J-GAAP
Apr - Sep, 2024 2,638 405 391 262 54.2 46.0 Oct 31, 2024 J-GAAP
YoY -4.5% -24.7% -29.7% -30.5% +18.5%

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 2,600 430 390 260 62.2 22.50 Apr 30, 2024 J-GAAP
Apr - Sep, 2024 Results 2,638 405 391 262 54.2 22.50 Oct 31, 2024 J-GAAP
Revision Rate +1.5% -5.8% +0.3% +0.8% -12.9%

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 2,785 528 545 364 44.1 15 Apr 30, 2024 J-GAAP
Oct - Mar, 2024 Guidance 2,662 475 459 308 73.7 22.50 Oct 31, 2024 J-GAAP
YoY -4.4% -10.0% -15.8% -15.4% +67.2%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 5,357 950 985 694 84.0 30 Apr 28, 2023 J-GAAP
Mar, 2024 5,547 1,066 1,101 741 89.7 30 Apr 30, 2024 J-GAAP
Mar, 2025 Guidance 5,300 880 850 570 136.4 45 Apr 30, 2024 J-GAAP
YoY -4.5% -17.4% -22.8% -23.1% +52.0%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 1,429 312 321 218 26.4 21.8 Oct 30, 2023 J-GAAP
Oct - Dec, 2023 1,400 272 280 190 23.0 19.4 Jan 31, 2024 J-GAAP
Jan - Mar, 2024 1,385 256 265 174 21.1 18.5 Apr 30, 2024 J-GAAP
Apr - Jun, 2024 1,333 196 179 119 21.6 14.7 Jul 30, 2024 J-GAAP
Jul - Sep, 2024 1,305 209 212 143 29.6 16.0 Oct 31, 2024 J-GAAP
YoY -8.7% -33.0% -34.0% -34.4% +11.9%

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