EBARA Foods Industry,Inc., The Current Fiscal Year Ordinary Profit Revised Upward by 36%

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Thu Nov 7, 2024 3:45 pm JST Earnings

2819 EBARA Foods Industry,Inc. 【J-GAAP】

Earnings Report

EBARA Foods Industry,Inc. <2819> [TSE-S] announced its financial results after the market closed on November 7th (15:45). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) decreased by 14.4% from the same period last year to 1.27 billion yen.

However, the full-year consolidated ordinary profit has been revised upward by 36.4%, from the previous forecast of 1.1 billion yen to 1.5 billion yen (compared to 2.62 billion yen in the previous period), and the declining rate is expected to decrease from 58.1% to 42.9%.

Based on the first-half performance announced by the company and the full-year plan, our calculation indicates that the consolidated ordinary profit for the October to March period (second half) is expected to significant drop by 80.0% from the same period last year to 228 million yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit dropped to 459 million yen, a 31.2% decrease compared to the same period last year. The operating profit margin worsened from 5.6% in the same period last year to 4.2%.

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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	21,637	1,741	1,904	1,296	131.9	59.9	Nov 7, 2022	J-GAAP
Apr - Sep, 2023	22,035	1,363	1,486	981	100.0	56.5	Nov 7, 2023	J-GAAP
Apr - Sep, 2024	23,835	1,231	1,272	848	86.9	84.8	Nov 7, 2024	J-GAAP
YoY	+8.2%	-9.7%	-14.4%	-13.6%	-13.2%

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	－	20	May 15, 2024	J-GAAP
Apr - Sep, 2024 Results	23,835	1,231	1,272	848	86.9	20	Nov 7, 2024	J-GAAP
Revision Rate	－	－	－	－	－

Guidance Update

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	46,600	1,000	1,100	700	71.6	40	May 15, 2024	J-GAAP
Mar, 2025 New	47,000	1,500	1,500	900	92.1	40	Nov 7, 2024	J-GAAP
Revision Rate	+0.9%	+50.0%	+36.4%	+28.6%	+28.6%

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	23,181	1,037	1,142	821	83.6	20	May 15, 2024	J-GAAP
Oct - Mar, 2024 Guidance	23,165	269	228	52	5.3	20	Nov 7, 2024	J-GAAP
YoY	-0.1%	-74.1%	-80.0%	-93.7%	-93.6%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	43,419	2,972	3,180	2,177	221.7	40	May 15, 2023	J-GAAP
Mar, 2024	45,216	2,400	2,628	1,802	183.6	40	May 15, 2024	J-GAAP
Mar, 2025 Guidance	47,000	1,500	1,500	900	92.1	40	Nov 7, 2024	J-GAAP
YoY	+3.9%	-37.5%	-42.9%	-50.1%	-49.8%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	11,154	620	667	435	44.4	5.6	Nov 7, 2023	J-GAAP
Oct - Dec, 2023	13,093	1,398	1,441	1,003	102.2	10.7	Feb 7, 2024	J-GAAP
Jan - Mar, 2024	10,088	-361	-299	-182	-18.5	-3.6	May 15, 2024	J-GAAP
Apr - Jun, 2024	11,926	725	813	539	55.2	6.1	Aug 7, 2024	J-GAAP
Jul - Sep, 2024	11,909	506	459	309	31.7	4.2	Nov 7, 2024	J-GAAP
YoY	+6.8%	-18.4%	-31.2%	-29.0%	-28.6%