AXELL CORPORATION, The Current Fiscal Year Ordinary Profit Revised Upward by 35%, Dividend Revised Upward by 6 yen

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Wed Nov 6, 2024 3:30 pm JST Earnings

6730 AXELL CORPORATION 【J-GAAP】

Earnings Report

AXELL CORPORATION <6730> [TSE-S] 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) dropped by 32.5% from the same period last year to 995 million yen.

However, the full-year consolidated ordinary profit has been revised upward by 34.5%, from the previous forecast of 1.1 billion yen to 1.48 billion yen (compared to 2.44 billion yen in the previous period), and the declining rate is expected to decrease from 55.1% to 39.6%.

Based on the first-half performance announced by the company and the full-year plan, our calculation indicates that the consolidated ordinary profit for the October to March period (second half) is expected to significant drop by 50.3% from the same period last year to 485 million yen.

In light of the strong performance, the company has increased its planned year-end lump-sum dividend for the current fiscal year from the original plan of 35 yen to 41 yen (compared to 81 yen in the previous period).

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit dropped to 474 million yen, a 30.4% decrease compared to the same period last year. The operating profit margin significantly dropped from 14.7% in the same period last year to 10.0%.

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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	7,061	864	893	701	64.7	49.3	Nov 8, 2022	J-GAAP
Apr - Sep, 2023	9,226	1,476	1,474	1,053	96.7	60.2	Nov 8, 2023	J-GAAP
Apr - Sep, 2024	8,142	937	995	692	63.3	67.2	Nov 6, 2024	J-GAAP
YoY	-11.7%	-36.5%	-32.5%	-34.3%	-34.5%

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	6,500	600	600	420	38.4	0	May 9, 2024	J-GAAP
Apr - Sep, 2024 Results	8,142	937	995	692	63.3	0	Nov 6, 2024	J-GAAP
Revision Rate	+25.3%	+56.2%	+65.8%	+64.8%	+65.1%

Guidance Update

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	13,300	1,100	1,100	770	70.3	35	May 9, 2024	J-GAAP
Mar, 2025 New	15,140	1,420	1,480	900	82.1	41	Nov 6, 2024	J-GAAP
Revision Rate	+13.8%	+29.1%	+34.5%	+16.9%	+16.9%

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	8,344	950	975	718	65.8	81	May 9, 2024	J-GAAP
Oct - Mar, 2024 Guidance	6,998	483	485	208	19.0	41	Nov 6, 2024	J-GAAP
YoY	-16.1%	-49.2%	-50.3%	-71.0%	-71.2%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	14,474	1,614	1,813	1,353	124.8	78	May 9, 2023	J-GAAP
Mar, 2024	17,570	2,426	2,449	1,771	162.4	81	May 9, 2024	J-GAAP
Mar, 2025 Guidance	15,140	1,420	1,480	900	82.1	41	Nov 6, 2024	J-GAAP
YoY	-13.8%	-41.5%	-39.6%	-49.2%	-49.4%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	4,751	699	681	472	43.4	14.7	Nov 8, 2023	J-GAAP
Oct - Dec, 2023	4,532	644	653	464	42.6	14.2	Feb 8, 2024	J-GAAP
Jan - Mar, 2024	3,812	306	322	254	23.3	8.0	May 9, 2024	J-GAAP
Apr - Jun, 2024	4,061	528	521	367	33.6	13.0	Aug 6, 2024	J-GAAP
Jul - Sep, 2024	4,081	409	474	325	29.7	10.0	Nov 6, 2024	J-GAAP
YoY	-14.1%	-41.5%	-30.4%	-31.1%	-31.4%