GUNZE LIMITED, July-September (2Q) Ordinary Profit Decreases by 15%

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Wed Nov 6, 2024 3:00 pm JST Earnings

3002 GUNZE LIMITED 【J-GAAP】

Earnings Report

GUNZE LIMITED <3002> [TSE-P] announced its financial results in the afternoon session on November 6th (15:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) increased by 11.8% from the same period last year, reaching 3.66 billion yen. However, The progress rate against the 9 billion yen full-year plan was 40.7%, also falling below the five-year average of 49.5%.

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 expand by 52.6% from the same period last year, reaching 5.33 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit decreased to 1.39 billion yen, a 14.9% decrease compared to the same period last year. The operating profit margin worsened from 5.1% in the same period last year to 4.4%.

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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	67,350	2,806	3,087	2,206	127.7	51.3	Nov 2, 2022	J-GAAP
Apr - Sep, 2023	65,153	3,230	3,280	2,657	155.9	48.4	Nov 2, 2023	J-GAAP
Apr - Sep, 2024	67,329	3,566	3,667	2,956	177.2	40.7	Nov 6, 2024	J-GAAP
YoY	+3.3%	+10.4%	+11.8%	+11.3%	+13.7%

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	－	－	May 14, 2024	J-GAAP
Apr - Sep, 2024 Results	67,329	3,566	3,667	2,956	177.2	－	Nov 6, 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	67,732	3,547	3,494	2,452	144.5	153	May 14, 2024	J-GAAP
Oct - Mar, 2024 Guidance	72,671	5,434	5,333	4,544	275.7	157	Nov 6, 2024	J-GAAP
YoY	+7.3%	+53.2%	+52.6%	+85.3%	+90.8%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	136,030	5,812	6,021	4,501	261.4	147	May 12, 2023	J-GAAP
Mar, 2024	132,885	6,777	6,774	5,109	301.1	153	May 14, 2024	J-GAAP
Mar, 2025 Guidance	140,000	9,000	9,000	7,500	455.0	157	May 14, 2024	J-GAAP
YoY	+5.4%	+32.8%	+32.9%	+46.8%	+51.1%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	33,447	1,715	1,640	1,071	62.8	5.1	Nov 2, 2023	J-GAAP
Oct - Dec, 2023	36,297	2,938	2,805	1,328	78.0	8.1	Feb 6, 2024	J-GAAP
Jan - Mar, 2024	31,435	609	689	1,124	66.3	1.9	May 14, 2024	J-GAAP
Apr - Jun, 2024	33,382	2,083	2,272	1,600	96.0	6.2	Aug 2, 2024	J-GAAP
Jul - Sep, 2024	33,947	1,483	1,395	1,356	81.3	4.4	Nov 6, 2024	J-GAAP
YoY	+1.5%	-13.5%	-14.9%	+26.6%	+29.4%