SERENDIP HOLDINGS Co.,Ltd., First Half Ordinary Profit Decreases by 15%

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Wed Nov 6, 2024 3:30 pm JST Earnings

7318 SERENDIP HOLDINGS Co.,Ltd. 【J-GAAP】

Earnings Report

SERENDIP HOLDINGS Co.,Ltd. <7318> [TSE-G] 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 15.4% from the same period last year to 397 million yen. However, The progress rate against the 735 million yen full-year plan was 54.0%, also surpassing the four-year average of 27.6%.

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 surge by 2.7 times that of the same period last year, reaching 338 million yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit dropped to 199 million yen, a 33.9% decrease compared to the same period last year. The operating profit margin worsened from 5.7% in the same period last year to 2.9%.

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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	6,727	38	2	34	7.9	0.6	Nov 10, 2022	J-GAAP
Apr - Sep, 2023	9,493	397	469	378	87.5	78.8	Nov 9, 2023	J-GAAP
Apr - Sep, 2024	9,795	291	397	177	39.5	54.0	Nov 6, 2024	J-GAAP
YoY	+3.2%	-26.7%	-15.4%	-53.2%	-54.9%

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	－	0	May 8, 2024	J-GAAP
Apr - Sep, 2024 Results	9,795	291	397	177	39.5	0	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	10,294	80	126	140	32.0	0	May 8, 2024	J-GAAP
Oct - Mar, 2024 Guidance	12,005	509	338	369	81.7	0	Nov 6, 2024	J-GAAP
YoY	+16.6%	+536.3%	+168.3%	+163.6%	+155.0%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	15,195	325	347	312	71.5	0	May 10, 2023	J-GAAP
Mar, 2024	19,787	477	595	518	118.5	0	May 8, 2024	J-GAAP
Mar, 2025 Guidance	21,800	800	735	546	120.8	0	May 8, 2024	J-GAAP
YoY	+10.2%	+67.7%	+23.5%	+5.4%	+2.0%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	4,901	278	301	211	48.8	5.7	Nov 9, 2023	J-GAAP
Oct - Dec, 2023	5,320	218	265	170	39.2	4.1	Feb 8, 2024	J-GAAP
Jan - Mar, 2024	4,974	-138	-139	-30	-6.9	-2.8	May 8, 2024	J-GAAP
Apr - Jun, 2024	4,804	144	198	105	23.3	3.0	Aug 7, 2024	J-GAAP
Jul - Sep, 2024	4,991	147	199	72	16.1	2.9	Nov 6, 2024	J-GAAP
YoY	+1.8%	-47.1%	-33.9%	-65.9%	-67.1%