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

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 2,450 119.7 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%

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