CERES INC., January-September (Third Quarter Cumulative) Ordinary Profit Increases by 2.1 times, July-September Ordinary Profit Increases by 2.2 times

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Fri Nov 8, 2024 12:00 pm JST Earnings

3696 CERES INC. 【J-GAAP】

Earnings Report

CERES INC. <3696> [TSE-P] announced its financial results at noon (12:00) on November 8th. The consolidated ordinary profit for the cumulative third quarter of the fiscal year ending December 2024 (January to September) surged by 2.1 times that of the same period last year, reaching 1.52 billion yen. The progress rate against the 2 billion yen full-year plan was 76.2%, it was below the five-year average of 79.1%.

Based on the third-quarter cumulative performance announced by the company and the unchanged full-year plan, our calculation indicates that the consolidated ordinary profit for the October to December period (4Q) is expected to decrease by 1.4% from the same period last year to 476 million yen.

In the most recent three-month period, from July to September (3Q), the consolidated ordinary profit surged to 2.2 times that of the same period last year, reaching 455 million yen. The operating profit margin significantly improved from 4.4% in the same period last year to 8.7%.

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Actual Results

Accumulated Results 3rd Quarter

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Progress Rate vs. First Half	Announce	Accounting Standards
Jan - Sep, 2022	15,012	967	580	18	1.7	85.4	Nov 4, 2022	J-GAAP
Jan - Sep, 2023	17,293	736	734	111	9.8	60.3	Nov 8, 2023	J-GAAP
Jan - Sep, 2024	20,218	1,429	1,524	845	73.7	76.2	Nov 8, 2024	J-GAAP
YoY	+16.9%	+94.2%	+107.6%	+661.3%	+655.2%

Current Period Guidance

Second Half Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Jul - Dec, 2023	12,850	652	686	97	8.5	20	Feb 9, 2024	J-GAAP
Jul - Dec, 2024 Guidance	13,849	789	931	527	45.8	40	Oct 25, 2024	J-GAAP
YoY	+7.8%	+21.0%	+35.7%	+443.3%	+438.0%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Dec, 2022	20,536	1,246	679	46	4.1	20	Feb 10, 2023	J-GAAP
Dec, 2023	24,070	1,118	1,217	451	39.6	20	Feb 9, 2024	J-GAAP
Dec, 2024 Guidance	27,000	1,600	2,000	1,200	104.3	40	Oct 25, 2024	J-GAAP
YoY	+12.2%	+43.1%	+64.3%	+166.1%	+163.5%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	6,073	270	203	-243	-21.4	4.4	Nov 8, 2023	J-GAAP
Oct - Dec, 2023	6,777	382	483	340	29.8	5.6	Feb 9, 2024	J-GAAP
Jan - Mar, 2024	6,718	713	1,140	832	72.9	10.6	May 9, 2024	J-GAAP
Apr - Jun, 2024	6,433	98	-71	-159	-13.9	1.5	Aug 8, 2024	J-GAAP
Jul - Sep, 2024	7,067	618	455	172	15.0	8.7	Nov 8, 2024	J-GAAP
YoY	+16.4%	+128.9%	+124.1%	－	－