GEO HOLDINGS CORPORATION, First Half Ordinary Profit Decreases by 40%, July-September Ordinary Profit Turns to Loss

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Thu Nov 7, 2024 3:30 pm JST Earnings

2681 GEO HOLDINGS CORPORATION 【J-GAAP】

Earnings Report

GEO HOLDINGS CORPORATION <2681> [TSE-P] announced its financial results after the market closed on November 7th (15:30). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) dropped by 40.0% from the same period last year to 5.2 billion yen. The progress rate against the 12 billion yen full-year plan was 43.3%, also falling below the five-year average of 51.5%.

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 drop by 32.5% from the same period last year to 6.79 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit/loss turned to a loss of 280 million yen (compared to a profit of 1.6 billion yen in the same period last year). The operating profit margin worsened from 1.4% in the same period last year to 1.1%.

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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	172,562	6,292	7,574	4,525	106.7	63.5	Nov 11, 2022	J-GAAP
Apr - Sep, 2023	215,761	7,307	8,675	5,717	144.6	46.3	Nov 10, 2023	J-GAAP
Apr - Sep, 2024	199,724	5,414	5,201	2,825	71.2	43.3	Nov 7, 2024	J-GAAP
YoY	-7.4%	-25.9%	-40.0%	-50.6%	-50.8%

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	ー	ー	ー	ー	－	17	May 10, 2024	J-GAAP
Apr - Sep, 2024 Results	199,724	5,414	5,201	2,825	71.2	17	Nov 7, 2024	J-GAAP
Revision Rate	－	－	－	－	－

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	218,087	9,507	10,074	5,185	130.9	17	May 10, 2024	J-GAAP
Oct - Mar, 2024 Guidance	236,276	6,586	6,799	3,175	80.0	17	Nov 7, 2024	J-GAAP
YoY	+8.3%	-30.7%	-32.5%	-38.8%	-38.9%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	377,300	10,620	11,926	5,681	135.9	24	May 12, 2023	J-GAAP
Mar, 2024	433,848	16,814	18,749	10,902	275.3	29	May 10, 2024	J-GAAP
Mar, 2025 Guidance	436,000	12,000	12,000	6,000	151.1	34	May 10, 2024	J-GAAP
YoY	+0.5%	-28.6%	-36.0%	-45.0%	-45.1%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	109,036	1,517	1,607	889	22.5	1.4	Nov 10, 2023	J-GAAP
Oct - Dec, 2023	111,640	6,036	5,724	3,591	90.7	5.4	Feb 9, 2024	J-GAAP
Jan - Mar, 2024	106,447	3,471	4,350	1,594	40.3	3.3	May 10, 2024	J-GAAP
Apr - Jun, 2024	100,147	4,366	5,481	3,547	89.3	4.4	Aug 6, 2024	J-GAAP
Jul - Sep, 2024	99,577	1,048	-280	-722	-18.2	1.1	Nov 7, 2024	J-GAAP
YoY	-8.7%	-30.9%	－	－	－