DAIHEN CORPORATION, July-September (2Q) Ordinary Profit Decreases by 4%

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Wed Nov 6, 2024 3:40 pm JST Earnings

6622 DAIHEN CORPORATION 【J-GAAP】

Earnings Report

DAIHEN CORPORATION <6622> [TSE-P] announced its financial results after the market closed on November 6th (15:40). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) was 5.76 billion yen, a 0.3% decrease compared to the same period last year. The progress rate against the 16.8 billion yen full-year plan was 34.3%, also falling below the five-year average of 39.5%.

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 grow by 7.2% from the same period last year, reaching 11 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit decreased to 4.27 billion yen, a 3.9% decrease compared to the same period last year. The operating profit margin worsened from 9.8% in the same period last year to 7.9%.

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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	83,186	7,354	8,213	6,107	248.9	46.5	Nov 2, 2022	J-GAAP
Apr - Sep, 2023	78,935	5,071	5,785	4,087	166.6	36.0	Nov 2, 2023	J-GAAP
Apr - Sep, 2024	96,088	5,064	5,766	4,215	173.3	34.3	Nov 6, 2024	J-GAAP
YoY	+21.7%	-0.1%	-0.3%	+3.1%	+4.1%

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	90,000	4,500	5,000	3,500	144.0	82.50	May 9, 2024	J-GAAP
Apr - Sep, 2024 Results	96,088	5,064	5,766	4,215	173.3	82.50	Nov 6, 2024	J-GAAP
Revision Rate	+6.8%	+12.5%	+15.3%	+20.4%	+20.4%

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	109,636	10,074	10,297	12,407	506.4	82.50	May 9, 2024	J-GAAP
Oct - Mar, 2024 Guidance	108,912	10,936	11,034	7,785	320.3	82.50	Nov 6, 2024	J-GAAP
YoY	-0.7%	+8.6%	+7.2%	-37.3%	-36.7%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	185,288	16,568	17,660	13,193	537.7	162	May 10, 2023	J-GAAP
Mar, 2024	188,571	15,145	16,082	16,494	673.2	165	May 9, 2024	J-GAAP
Mar, 2025 Guidance	205,000	16,000	16,800	12,000	493.7	165	May 9, 2024	J-GAAP
YoY	+8.7%	+5.6%	+4.5%	-27.2%	-26.7%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	43,645	4,299	4,451	3,399	138.5	9.8	Nov 2, 2023	J-GAAP
Oct - Dec, 2023	48,300	2,747	2,729	7,182	292.9	5.7	Feb 2, 2024	J-GAAP
Jan - Mar, 2024	61,336	7,327	7,568	5,225	213.3	11.9	May 9, 2024	J-GAAP
Apr - Jun, 2024	43,306	897	1,490	636	26.2	2.1	Aug 5, 2024	J-GAAP
Jul - Sep, 2024	52,782	4,167	4,276	3,579	147.2	7.9	Nov 6, 2024	J-GAAP
YoY	+20.9%	-3.1%	-3.9%	+5.3%	+6.2%