SYSMEX CORPORATION, First Half Net Income Increases by 17%, July-September Net Income Increases by 10%

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Wed Nov 6, 2024 3:30 pm JST Earnings

6869 SYSMEX CORPORATION 【IFRS】

Earnings Report

SYSMEX CORPORATION <6869> [TSE-P] announced its financial results (based on IFRS) after the market closed on November 6th (15:30). The consolidated net income for the cumulative second quarter of the fiscal year ending March 2025 (April to September) increased by 17.2% from the same period last year, reaching 26 billion yen. However, The progress rate against the 55 billion yen full-year plan was 47.3%, almost the same as the five-year average of 47.4%.

Based on the first-half performance announced by the company and the full-year plan, our calculation indicates that the consolidated net income for the October to March period (second half) is expected to grow by 5.6% from the same period last year, reaching 28.9 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated net income grew by 10.4% from the same period last year, reaching 14.9 billion yen. The operating profit margin rose from 17.5% in the same period last year to 21.3%.

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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	194,022	33,150	34,546	23,989	38.2	50.3	Nov 9, 2022	IFRS
Apr - Sep, 2023	212,698	33,824	33,300	22,186	35.3	44.6	Nov 8, 2023	IFRS
Apr - Sep, 2024	242,479	44,502	38,280	26,002	41.7	46.4	Nov 6, 2024	IFRS
YoY	+14.0%	+31.6%	+15.0%	+17.2%	+18.0%

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	237,000	37,000	34,900	23,000	36.9	15	May 9, 2024	IFRS
Apr - Sep, 2024 Results	242,479	44,502	38,280	26,002	41.7	15	Nov 6, 2024	IFRS
Revision Rate	+2.3%	+20.3%	+9.7%	+13.1%	+13.0%

Guidance Update

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	510,000	87,000	82,500	55,000	88.2	30	May 9, 2024	IFRS
Mar, 2025 New	510,000	90,000	82,500	55,000	88.2	30	Nov 6, 2024	IFRS
Revision Rate	0.0%	+3.4%	0.0%	0.0%	0.0%

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	248,812	44,558	41,300	27,453	43.8	14	May 9, 2024	IFRS
Oct - Mar, 2024 Guidance	267,521	45,498	44,220	28,998	46.5	15	Nov 6, 2024	IFRS
YoY	+7.5%	+2.1%	+7.1%	+5.6%	+6.1%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	410,502	73,679	68,713	45,784	72.9	27.33	May 11, 2023	IFRS
Mar, 2024	461,510	78,382	74,600	49,639	79.3	28	May 9, 2024	IFRS
Mar, 2025 Guidance	510,000	90,000	82,500	55,000	88.2	30	Nov 6, 2024	IFRS
YoY	+10.5%	+14.8%	+10.6%	+10.8%	+11.3%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	117,347	20,547	20,140	13,565	21.6	17.5	Nov 8, 2023	IFRS
Oct - Dec, 2023	113,827	20,388	17,802	12,278	19.6	17.9	Feb 9, 2024	IFRS
Jan - Mar, 2024	134,985	24,170	23,498	15,175	24.2	17.9	May 9, 2024	IFRS
Apr - Jun, 2024	111,946	16,743	16,979	11,031	17.7	15.0	Aug 6, 2024	IFRS
Jul - Sep, 2024	130,533	27,759	21,301	14,971	24.0	21.3	Nov 6, 2024	IFRS
YoY	+11.2%	+35.1%	+5.8%	+10.4%	+11.1%