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ELECOM CO.,LTD., First Half Ordinary Profit Decreases by 25%

Wed Nov 6, 2024 3:30 pm JST Earnings

6750 ELECOM CO.,LTD. 【J-GAAP】

Earnings Report

ELECOM CO.,LTD. <6750> [TSE-P] announced its financial results after the market closed on November 6th (15:30). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) decreased by 24.6% from the same period last year to 5.06 billion yen, fell short of the previous forecast of 6.45 billion yen.

The progress rate against the 13.9 billion yen full-year plan was 36.4%, also falling below the five-year average of 50.3%.

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 33.0% from the same period last year, reaching 8.84 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit decreased to 2.78 billion yen, a 9.6% decrease compared to the same period last year. The operating profit margin decreased from 10.7% in the same period last year to 10.1%.

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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 51,669 6,055 6,110 4,371 50.9 53.7 Nov 8, 2022 J-GAAP
Apr - Sep, 2023 51,695 6,110 6,713 4,551 54.2 50.2 Nov 14, 2023 J-GAAP
Apr - Sep, 2024 56,608 5,454 5,060 3,395 42.8 36.4 Nov 6, 2024 J-GAAP
YoY +9.5% -10.7% -24.6% -25.4% -21.1%

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 57,413 6,200 6,454 4,462 58.4 24 May 15, 2024 J-GAAP
Apr - Sep, 2024 Results 56,608 5,454 5,060 3,395 42.8 24 Nov 6, 2024 J-GAAP
Revision Rate -1.4% -12.0% -21.6% -23.9% -26.8%

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 58,474 6,270 6,647 5,434 65.3 22 May 15, 2024 J-GAAP
Oct - Mar, 2024 Guidance 63,392 7,946 8,840 6,255 81.9 24 Nov 6, 2024 J-GAAP
YoY +8.4% +26.7% +33.0% +15.1% +25.5%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 103,727 11,305 11,376 8,129 95.3 40 May 10, 2023 J-GAAP
Mar, 2024 110,169 12,380 13,360 9,985 119.9 44 May 15, 2024 J-GAAP
Mar, 2025 Guidance 120,000 13,400 13,900 9,650 126.4 48 May 15, 2024 J-GAAP
YoY +8.9% +8.2% +4.0% -3.4% +5.4%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 25,491 2,721 3,080 2,045 24.4 10.7 Nov 14, 2023 J-GAAP
Oct - Dec, 2023 29,406 3,148 2,923 2,145 25.7 10.7 Feb 14, 2024 J-GAAP
Jan - Mar, 2024 29,068 3,122 3,724 3,289 39.5 10.7 May 15, 2024 J-GAAP
Apr - Jun, 2024 27,606 2,535 2,275 1,540 18.9 9.2 Aug 8, 2024 J-GAAP
Jul - Sep, 2024 29,002 2,919 2,785 1,855 23.4 10.1 Nov 6, 2024 J-GAAP
YoY +13.8% +7.3% -9.6% -9.3% -4.1%

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