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SHOWA SYSTEM ENGINEERING CORPORATION, First Half Ordinary Profit Decreases by 9%

Fri Nov 1, 2024 4:00 pm JST Earnings

4752 SHOWA SYSTEM ENGINEERING CORPORATION 【J-GAAP】

Earnings Report

SHOWA SYSTEM ENGINEERING CORPORATION <4752> [TSE-S] announced its financial results after the market closed on November 1st (16:00). The ordinary profit (non-consolidated) for the cumulative second quarter of the fiscal year ending March 2025 (April to September) decreased by 9.0% from the same period last year to 555 million yen. However, The progress rate against the 932 million yen full-year plan was 59.5%, also surpassing the five-year average of 56.3%.

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 grow by 20.4% from the same period last year, reaching 377 million yen.

In the most recent three-month period, from July to September (2Q), the ordinary profit decreased to 301 million yen, a 11.2% decrease compared to the same period last year. The operating profit margin decreased from 16.8% in the same period last year to 14.4%.

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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 3,400 420 427 293 67.1 55.0 Oct 31, 2022 J-GAAP
Apr - Sep, 2023 3,951 599 610 420 96.0 66.1 Nov 1, 2023 J-GAAP
Apr - Sep, 2024 4,032 546 555 382 88.2 59.5 Nov 1, 2024 J-GAAP
YoY +2.1% -8.8% -9.0% -9.0% -8.1%

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 － 0 May 13, 2024 J-GAAP
Apr - Sep, 2024 Results 4,032 546 555 382 88.2 0 Nov 1, 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 4,009 309 313 240 55.0 50 May 13, 2024 J-GAAP
Oct - Mar, 2024 Guidance 4,168 374 377 284 66.3 50 Nov 1, 2024 J-GAAP
YoY +4.0% +21.0% +20.4% +18.3% +20.7%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 7,086 764 776 526 120.4 40 May 12, 2023 J-GAAP
Mar, 2024 7,960 908 923 660 151.2 50 May 13, 2024 J-GAAP
Mar, 2025 Guidance 8,200 920 932 666 155.6 50 May 13, 2024 J-GAAP
YoY +3.0% +1.3% +1.0% +0.9% +2.9%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 2,009 337 339 233 53.3 16.8 Nov 1, 2023 J-GAAP
Oct - Dec, 2023 2,024 181 184 125 28.6 8.9 Feb 9, 2024 J-GAAP
Jan - Mar, 2024 1,985 128 129 115 26.3 6.4 May 13, 2024 J-GAAP
Apr - Jun, 2024 1,958 247 254 175 40.5 12.6 Aug 9, 2024 J-GAAP
Jul - Sep, 2024 2,074 299 301 207 47.8 14.4 Nov 1, 2024 J-GAAP
YoY +3.2% -11.3% -11.2% -11.2% -10.2%

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