SAN HOLDINGS,INC., First Half Ordinary Profit Decreases by 7%, July-September Ordinary Profit Decreases by 24%

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Thu Nov 7, 2024 4:00 pm JST Earnings

9628 SAN HOLDINGS,INC. 【J-GAAP】

Earnings Report

SAN HOLDINGS,INC. <9628> [TSE-P] announced its financial results after the market closed on November 7th (16:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) decreased by 7.1% from the same period last year to 1.56 billion yen. The progress rate against the 3.83 billion yen full-year plan was 40.8%, almost the same as the five-year average of 43.3%.

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 grow by 7.1% from the same period last year, reaching 2.26 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit decreased to 701 million yen, a 23.6% decrease compared to the same period last year. The operating profit margin decreased from 17.1% in the same period last year to 12.2%.

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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	10,083	1,782	1,763	1,218	57.5	45.9	Nov 11, 2022	J-GAAP
Apr - Sep, 2023	10,407	1,671	1,684	1,085	52.3	44.3	Nov 9, 2023	J-GAAP
Apr - Sep, 2024	11,186	1,534	1,564	943	46.2	40.8	Nov 7, 2024	J-GAAP
YoY	+7.5%	-8.2%	-7.1%	-13.1%	-11.7%

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	11,370	1,600	1,610	1,030	50.4	12	May 10, 2024	J-GAAP
Apr - Sep, 2024 Results	11,186	1,534	1,564	943	46.2	12	Nov 7, 2024	J-GAAP
Revision Rate	-1.6%	-4.1%	-2.9%	-8.4%	-8.2%

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	12,030	2,118	2,116	1,278	61.9	12	May 10, 2024	J-GAAP
Oct - Mar, 2024 Guidance	13,114	2,286	2,266	1,507	73.7	12	Nov 7, 2024	J-GAAP
YoY	+9.0%	+7.9%	+7.1%	+17.9%	+19.1%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	21,663	3,868	3,843	2,783	131.9	22	May 11, 2023	J-GAAP
Mar, 2024	22,437	3,789	3,800	2,363	114.4	23.50	May 10, 2024	J-GAAP
Mar, 2025 Guidance	24,300	3,820	3,830	2,450	119.8	24	May 10, 2024	J-GAAP
YoY	+8.3%	+0.8%	+0.8%	+3.7%	+4.7%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	5,326	910	918	588	28.4	17.1	Nov 9, 2023	J-GAAP
Oct - Dec, 2023	5,711	898	891	565	27.3	15.7	Feb 8, 2024	J-GAAP
Jan - Mar, 2024	6,319	1,220	1,225	713	34.5	19.3	May 10, 2024	J-GAAP
Apr - Jun, 2024	5,518	845	863	551	27.0	15.3	Aug 8, 2024	J-GAAP
Jul - Sep, 2024	5,668	689	701	392	19.2	12.2	Nov 7, 2024	J-GAAP
YoY	+6.4%	-24.3%	-23.6%	-33.3%	-32.3%