SRS HOLDINGS CO.,LTD., First Half Ordinary Profit Increases by 56%

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Tue Nov 5, 2024 2:00 pm JST Earnings

8163 SRS HOLDINGS CO.,LTD. 【J-GAAP】

Earnings Report

SRS HOLDINGS CO.,LTD. <8163> [TSE-P] announced its financial results in the afternoon session on November 5th (14:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) expanded to 1.51 billion yen, an increase of 56.4% compared to the same period last year. The progress rate against the 2.3 billion yen full-year plan was 65.7%, it was below the five-year average of 123.7%.

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 drop by 34.1% from the same period last year to 788 million yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit grew by 14.2% from the same period last year, reaching 940 million yen. The operating profit margin improved from 5.4% in the same period last year to 5.9%.

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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	25,920	-722	-762	-864	-21.3	ー	Nov 4, 2022	J-GAAP
Apr - Sep, 2023	29,203	969	967	714	17.3	44.7	Nov 6, 2023	J-GAAP
Apr - Sep, 2024	31,481	1,597	1,512	944	22.8	65.7	Nov 5, 2024	J-GAAP
YoY	+7.8%	+64.8%	+56.4%	+32.2%	+32.1%

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 15, 2024	J-GAAP
Apr - Sep, 2024 Results	31,481	1,597	1,512	944	22.8	0	Nov 5, 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	31,025	1,188	1,195	1,084	26.2	7.50	May 15, 2024	J-GAAP
Oct - Mar, 2024 Guidance	32,519	803	788	556	13.4	7.50	Nov 5, 2024	J-GAAP
YoY	+4.8%	-32.4%	-34.1%	-48.7%	-48.7%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	54,505	-606	-669	-1,451	-35.4	0	May 22, 2023	J-GAAP
Mar, 2024	60,228	2,157	2,162	1,798	43.5	7.50	May 15, 2024	J-GAAP
Mar, 2025 Guidance	64,000	2,400	2,300	1,500	36.3	7.50	May 15, 2024	J-GAAP
YoY	+6.3%	+11.3%	+6.4%	-16.6%	-16.6%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	15,318	821	823	525	12.7	5.4	Nov 6, 2023	J-GAAP
Oct - Dec, 2023	15,302	627	632	383	9.3	4.1	Feb 5, 2024	J-GAAP
Jan - Mar, 2024	15,723	561	563	701	17.0	3.6	May 15, 2024	J-GAAP
Apr - Jun, 2024	15,071	621	572	331	8.0	4.1	Aug 2, 2024	J-GAAP
Jul - Sep, 2024	16,410	976	940	613	14.8	5.9	Nov 5, 2024	J-GAAP
YoY	+7.1%	+18.9%	+14.2%	+16.8%	+16.6%