GMO TECH,Inc., July-September (3Q) Ordinary Profit Decreases by 16%

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Wed Nov 6, 2024 3:31 pm JST Earnings

6026 GMO TECH,Inc. 【J-GAAP】

Earnings Report

GMO TECH,Inc. <6026> [TSE-G] announced its financial results after the market closed on November 6th (15:31). The consolidated ordinary profit for the cumulative third quarter of the fiscal year ending December 2024 (January to September) expanded to 686 million yen, an increase of 46.6% compared to the same period last year. However, The progress rate against the 1.03 billion yen full-year plan was 66.2%, also falling below the five-year average of 105.1%.

Based on the third-quarter cumulative performance announced by the company and the unchanged full-year plan, our calculation indicates that the consolidated ordinary profit for the October to December period (4Q) is expected to surge by 3.7 times that of the same period last year, reaching 351 million yen.

In the most recent three-month period, from July to September (3Q), the consolidated ordinary profit decreased to 133 million yen, a 16.4% decrease compared to the same period last year. The operating profit margin decreased from 10.0% in the same period last year to 9.3%.

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Actual Results

Accumulated Results 3rd Quarter

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Progress Rate vs. First Half	Announce	Accounting Standards
Jan - Sep, 2022	3,995	425	405	-76	-71.8	196.6	Nov 7, 2022	J-GAAP
Jan - Sep, 2023	4,471	466	468	347	317.5	83.3	Nov 14, 2023	J-GAAP
Jan - Sep, 2024	5,241	660	686	443	405.6	66.2	Nov 6, 2024	J-GAAP
YoY	+17.2%	+41.6%	+46.6%	+27.7%	+27.8%

Current Period Guidance

Second Half Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Jul - Dec, 2023	3,407	263	253	162	147.6	184.48	Feb 13, 2024	J-GAAP
Jul - Dec, 2024 Guidance	3,506	524	484	269	253.5	293.06	Aug 6, 2024	J-GAAP
YoY	+2.9%	+99.2%	+91.3%	+66.0%	+71.8%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Dec, 2022	5,456	226	206	-295	-282.1	0	Feb 13, 2023	J-GAAP
Dec, 2023	6,256	566	562	405	369.0	184.48	Feb 13, 2024	J-GAAP
Dec, 2024 Guidance	7,200	1,040	1,037	640	603.1	293.06	May 8, 2024	J-GAAP
YoY	+15.1%	+83.7%	+84.5%	+58.0%	+63.5%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	1,622	163	159	104	95.2	10.0	Nov 14, 2023	J-GAAP
Oct - Dec, 2023	1,785	100	94	58	52.8	5.6	Feb 13, 2024	J-GAAP
Jan - Mar, 2024	1,874	273	275	194	179.0	14.6	May 8, 2024	J-GAAP
Apr - Jun, 2024	1,820	243	278	177	162.8	13.4	Aug 6, 2024	J-GAAP
Jul - Sep, 2024	1,547	144	133	72	65.9	9.3	Nov 6, 2024	J-GAAP
YoY	-4.6%	-11.7%	-16.4%	-30.8%	-30.7%