AIPHONE CO.,LTD, First Half Ordinary Profit Decreases by 41%, July-September Ordinary Profit Decreases by 86%

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Tue Nov 5, 2024 1:40 pm JST Earnings

6718 AIPHONE CO.,LTD 【J-GAAP】

Earnings Report

AIPHONE CO.,LTD <6718> [TSE-P] announced its financial results in the afternoon session on November 5th (13:40). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) dropped by 40.9% from the same period last year to 2.07 billion yen. The progress rate against the 5 billion yen full-year plan was 41.4%, also falling below the five-year average of 52.2%.

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 grow by 11.6% from the same period last year, reaching 2.93 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit significantly dropped to 233 million yen, a 86.1% decrease compared to the same period last year. The operating profit margin drastically worsened from 9.5% in the same period last year to 3.4%.

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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	23,863	1,324	1,685	1,258	77.1	40.4	Nov 1, 2022	J-GAAP
Apr - Sep, 2023	30,151	3,020	3,504	2,639	161.4	57.2	Nov 10, 2023	J-GAAP
Apr - Sep, 2024	30,977	2,117	2,070	1,694	103.6	41.4	Nov 5, 2024	J-GAAP
YoY	+2.7%	-29.9%	-40.9%	-35.8%	-35.8%

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	29,500	2,000	2,100	1,500	91.7	50	May 8, 2024	J-GAAP
Apr - Sep, 2024 Results	30,977	2,117	2,070	1,694	103.6	50	Nov 5, 2024	J-GAAP
Revision Rate	+5.0%	+5.9%	-1.4%	+12.9%	+13.0%

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	31,183	2,248	2,626	2,006	122.6	80	May 8, 2024	J-GAAP
Oct - Mar, 2024 Guidance	31,323	2,383	2,930	1,906	116.5	80	Nov 5, 2024	J-GAAP
YoY	+0.4%	+6.0%	+11.6%	-5.0%	-5.0%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	52,811	3,758	4,167	2,929	179.3	80	May 9, 2023	J-GAAP
Mar, 2024	61,334	5,268	6,130	4,645	284.0	130	May 8, 2024	J-GAAP
Mar, 2025 Guidance	62,300	4,500	5,000	3,600	220.0	130	May 8, 2024	J-GAAP
YoY	+1.6%	-14.6%	-18.4%	-22.5%	-22.5%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	16,133	1,539	1,674	1,128	69.0	9.5	Nov 10, 2023	J-GAAP
Oct - Dec, 2023	14,756	977	1,010	636	38.9	6.6	Feb 6, 2024	J-GAAP
Jan - Mar, 2024	16,427	1,271	1,616	1,370	83.8	7.7	May 8, 2024	J-GAAP
Apr - Jun, 2024	15,887	1,599	1,837	1,317	80.5	10.1	Aug 6, 2024	J-GAAP
Jul - Sep, 2024	15,090	518	233	377	23.1	3.4	Nov 5, 2024	J-GAAP
YoY	-6.5%	-66.3%	-86.1%	-66.6%	-66.6%