GOLDWIN INC., First Half Ordinary Profit Unexpectedly Revised Upward by 8%

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Thu Nov 7, 2024 10:00 am JST Earnings

8111 GOLDWIN INC. 【J-GAAP】

Earnings Report

GOLDWIN INC. <8111> [TSE-P] announced its financial results in the morning on November 7th (10:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) increased by 8.0% from the same period last year, reaching 9.91 billion yen, resulting in an increase in profits compared to the previous forecast of a 12.9% decrease.

The progress rate against the 25.9 billion yen full-year plan was 38.3%, exceeding the five-year average of 22.9%.

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 drop by 31.8% from the same period last year to 15.9 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit grew by 13.0% from the same period last year, reaching 5.65 billion yen. However, the operating profit margin decreased from 13.6% in the same period last year to 11.7%.

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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	45,309	5,277	7,452	5,844	129.7	26.5	Nov 8, 2022	J-GAAP
Apr - Sep, 2023	51,096	6,070	9,180	7,323	162.5	28.2	Nov 7, 2023	J-GAAP
Apr - Sep, 2024	53,367	5,214	9,917	7,865	174.9	38.3	Nov 7, 2024	J-GAAP
YoY	+4.4%	-14.1%	+8.0%	+7.4%	+7.7%

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	52,800	4,100	8,000	6,600	146.7	40	Aug 6, 2024	J-GAAP
Apr - Sep, 2024 Results	53,367	5,214	9,917	7,865	174.9	40	Nov 7, 2024	J-GAAP
Revision Rate	+1.1%	+27.2%	+24.0%	+19.2%	+19.3%

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	75,811	17,777	23,421	16,958	376.5	132	May 14, 2024	J-GAAP
Oct - Mar, 2024 Guidance	79,833	12,886	15,983	13,135	295.1	123	Nov 7, 2024	J-GAAP
YoY	+5.3%	-27.5%	-31.8%	-22.5%	-21.6%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	115,052	21,904	28,083	20,977	465.7	110	May 12, 2023	J-GAAP
Mar, 2024	126,907	23,847	32,601	24,281	539.1	162	May 14, 2024	J-GAAP
Mar, 2025 Guidance	133,200	18,100	25,900	21,000	471.8	163	May 14, 2024	J-GAAP
YoY	+5.0%	-24.1%	-20.6%	-13.5%	-12.5%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	27,946	3,807	5,008	3,976	88.2	13.6	Nov 7, 2023	J-GAAP
Oct - Dec, 2023	43,736	13,119	14,396	10,251	227.4	30.0	Feb 6, 2024	J-GAAP
Jan - Mar, 2024	32,075	4,658	9,025	6,707	148.9	14.5	May 14, 2024	J-GAAP
Apr - Jun, 2024	24,601	1,839	4,258	3,660	81.5	7.5	Aug 6, 2024	J-GAAP
Jul - Sep, 2024	28,766	3,375	5,659	4,205	93.5	11.7	Nov 7, 2024	J-GAAP
YoY	+2.9%	-11.3%	+13.0%	+5.8%	+6.0%