CENTRAL SPORTS Co.,LTD., First Half Ordinary Profit Revised Downward to an Unexpected 62%Decrease

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Thu Nov 7, 2024 4:00 pm JST Earnings

4801 CENTRAL SPORTS Co.,LTD. 【J-GAAP】

Earnings Report

CENTRAL SPORTS Co.,LTD. <4801> [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) significantly dropped by 61.8% from the same period last year to 470 million yen, resulting in a decrease in profits compared to the previous forecast of a 10.5% increase.

The progress rate against the 2.73 billion yen full-year plan was 17.2%, also falling below the five-year average of 50.0%.

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 surge by 2.4 times that of 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 significantly dropped to 295 million yen, a 65.3% decrease compared to the same period last year. The operating profit margin drastically worsened from 8.3% in the same period last year to 3.3%.

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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	21,358	852	587	259	23.2	43.6	Nov 7, 2022	J-GAAP
Apr - Sep, 2023	22,596	1,473	1,231	767	68.5	56.4	Nov 7, 2023	J-GAAP
Apr - Sep, 2024	23,100	689	470	902	80.6	17.2	Nov 7, 2024	J-GAAP
YoY	+2.2%	-53.2%	-61.8%	+17.6%	+17.6%

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	23,800	1,615	1,360	800	71.4	25	May 13, 2024	J-GAAP
Apr - Sep, 2024 Results	23,100	689	470	902	80.6	25	Nov 7, 2024	J-GAAP
Revision Rate	-2.9%	-57.3%	-65.4%	+12.8%	+12.9%

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	22,783	1,180	950	393	35.1	18	May 13, 2024	J-GAAP
Oct - Mar, 2024 Guidance	25,500	2,541	2,260	718	64.1	25	Nov 7, 2024	J-GAAP
YoY	+11.9%	+115.3%	+137.9%	+82.7%	+82.6%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	43,602	1,850	1,346	793	70.9	31	May 12, 2023	J-GAAP
Mar, 2024	45,379	2,653	2,181	1,160	103.6	36	May 13, 2024	J-GAAP
Mar, 2025 Guidance	48,600	3,230	2,730	1,620	144.6	50	May 13, 2024	J-GAAP
YoY	+7.1%	+21.7%	+25.2%	+39.7%	+39.6%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	11,621	970	851	523	46.7	8.3	Nov 7, 2023	J-GAAP
Oct - Dec, 2023	11,399	647	550	366	32.7	5.7	Feb 7, 2024	J-GAAP
Jan - Mar, 2024	11,384	533	400	27	2.4	4.7	May 13, 2024	J-GAAP
Apr - Jun, 2024	11,084	287	175	767	68.6	2.6	Aug 7, 2024	J-GAAP
Jul - Sep, 2024	12,016	402	295	135	12.1	3.3	Nov 7, 2024	J-GAAP
YoY	+3.4%	-58.6%	-65.3%	-74.2%	-74.2%