Cleanup Corporation, First Half Ordinary Profit Decreases by 54%, July-September Ordinary Profit Decreases by 73%

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Thu Nov 7, 2024 3:00 pm JST Earnings

7955 Cleanup Corporation 【J-GAAP】

Earnings Report

Cleanup Corporation <7955> [TSE-P] announced its financial results in the afternoon session on November 7th (15:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) significantly dropped by 53.6% from the same period last year to 616 million yen. The progress rate against the 1.5 billion yen full-year plan was 41.1%, also falling below the five-year average of 56.4%.

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 expand by 84.2% from the same period last year, reaching 884 million yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit significantly dropped to 175 million yen, a 73.1% decrease compared to the same period last year. The operating profit margin worsened from 1.8% in the same period last year to 0.3%.

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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	61,310	1,757	2,032	1,334	36.2	57.0	Nov 7, 2022	J-GAAP
Apr - Sep, 2023	63,535	1,047	1,329	755	20.5	73.5	Nov 7, 2023	J-GAAP
Apr - Sep, 2024	63,531	379	616	256	7.1	41.1	Nov 7, 2024	J-GAAP
YoY	0.0%	-63.8%	-53.6%	-66.1%	-65.3%

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	63,500	370	610	250	6.9	13	Oct 31, 2024	J-GAAP
Apr - Sep, 2024 Results	63,531	379	616	256	7.1	13	Nov 7, 2024	J-GAAP
Revision Rate	+0.0%	+2.4%	+1.0%	+2.4%	+2.6%

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	64,447	235	480	713	19.4	18	May 8, 2024	J-GAAP
Oct - Mar, 2024 Guidance	66,469	621	884	694	19.2	18	Nov 7, 2024	J-GAAP
YoY	+3.1%	+164.3%	+84.2%	-2.7%	-0.8%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	124,012	3,014	3,562	2,523	68.4	26	May 9, 2023	J-GAAP
Mar, 2024	127,982	1,282	1,809	1,468	40.0	31	May 8, 2024	J-GAAP
Mar, 2025 Guidance	130,000	1,000	1,500	950	26.3	31	Oct 31, 2024	J-GAAP
YoY	+1.6%	-22.0%	-17.1%	-35.3%	-34.1%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	31,653	564	651	412	11.2	1.8	Nov 7, 2023	J-GAAP
Oct - Dec, 2023	33,899	1,350	1,493	1,057	28.7	4.0	Feb 6, 2024	J-GAAP
Jan - Mar, 2024	30,548	-1,115	-1,013	-344	-9.4	-3.6	May 8, 2024	J-GAAP
Apr - Jun, 2024	31,643	272	441	183	5.1	0.9	Aug 6, 2024	J-GAAP
Jul - Sep, 2024	31,888	107	175	73	2.0	0.3	Nov 7, 2024	J-GAAP
YoY	+0.7%	-81.0%	-73.1%	-82.3%	-81.8%