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

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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%