RYOBI LIMITED, The Current Fiscal Year Ordinary Profit Revised Downward by 26%

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Thu Nov 7, 2024 3:30 pm JST Earnings

5851 RYOBI LIMITED 【J-GAAP】

Earnings Report

RYOBI LIMITED <5851> [TSE-P] announced its financial results after the market closed on November 7th (15:30). The consolidated ordinary profit for the cumulative third quarter of the fiscal year ending December 2024 (January to September) decreased by 27.1% from the same period last year to 7.25 billion yen.

In addition, the full-year consolidated ordinary profit has downwardly by 25.8%, from the previous forecast of 12.8 billion yen to 9.5 billion yen (compared to 13.8 billion yen in the previous period), leading to an increase in the profit decline rate from 7.7% to 31.5%.

Based on the full-year plan announced by the company after the downward revision, our estimate of the consolidated ordinary profit for the July to December period (second half) has downwardly by 54.0%, from the previous forecast of 6.11 billion yen to 2.81 billion yen (compared to 7.79 billion yen in the same period of the previous year), leading to an increase in the profit decline rate from 21.6% to 63.9%.

In the most recent three-month period, from July to September (3Q), the consolidated ordinary profit significantly dropped to 565 million yen, a 85.4% decrease compared to the same period last year. The operating profit margin drastically worsened from 4.9% in the same period last year to 1.2%.

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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	179,311	2,947	4,009	2,221	68.6	51.5	Nov 8, 2022	J-GAAP
Jan - Sep, 2023	203,218	8,469	9,945	7,100	219.4	71.7	Nov 8, 2023	J-GAAP
Jan - Sep, 2024	215,219	6,055	7,251	5,511	170.3	76.3	Nov 7, 2024	J-GAAP
YoY	+5.9%	-28.5%	-27.1%	-22.4%	-22.4%

Guidance Update

Second Half Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Jul - Dec, 2024 Prev	160,362	7,808	6,114	4,228	130.6	42.50	Aug 7, 2024	J-GAAP
Jul - Dec, 2024 New	147,362	3,308	2,814	2,228	68.8	42.50	Nov 7, 2024	J-GAAP
Revision Rate	-8.1%	-57.6%	-54.0%	-47.3%	-47.3%

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Dec, 2024 Prev	305,000	13,000	12,800	9,000	278.1	85	Aug 7, 2024	J-GAAP
Dec, 2024 New	292,000	8,500	9,500	7,000	216.3	85	Nov 7, 2024	J-GAAP
Revision Rate	-4.3%	-34.6%	-25.8%	-22.2%	-22.2%

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	152,857	7,367	7,795	5,784	178.7	45	Feb 13, 2024	J-GAAP
Jul - Dec, 2024 Guidance	147,362	3,308	2,814	2,228	68.8	42.50	Nov 7, 2024	J-GAAP
YoY	-3.6%	-55.1%	-63.9%	-61.5%	-61.5%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Dec, 2022	249,521	6,969	7,791	4,784	147.8	45	Feb 13, 2023	J-GAAP
Dec, 2023	282,693	12,214	13,861	10,115	312.5	80	Feb 13, 2024	J-GAAP
Dec, 2024 Guidance	292,000	8,500	9,500	7,000	216.3	85	Nov 7, 2024	J-GAAP
YoY	+3.3%	-30.4%	-31.5%	-30.8%	-30.8%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	73,382	3,622	3,879	2,769	85.6	4.9	Nov 8, 2023	J-GAAP
Oct - Dec, 2023	79,475	3,745	3,916	3,015	93.2	4.7	Feb 13, 2024	J-GAAP
Jan - Mar, 2024	69,918	2,711	3,220	2,148	66.4	3.9	May 13, 2024	J-GAAP
Apr - Jun, 2024	74,720	2,481	3,466	2,624	81.1	3.3	Aug 7, 2024	J-GAAP
Jul - Sep, 2024	70,581	863	565	739	22.8	1.2	Nov 7, 2024	J-GAAP
YoY	-3.8%	-76.2%	-85.4%	-73.3%	-73.3%