UEX, LTD., First Half Ordinary Profit Decreases by 47%, July-September Ordinary Profit Decreases by 57%

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Fri Nov 8, 2024 2:00 pm JST Earnings

9888 UEX, LTD. 【J-GAAP】

Earnings Report

UEX, LTD. <9888> [TSE-S] announced its financial results in the afternoon session on November 8th (14:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) dropped by 47.3% from the same period last year to 762 million yen. The progress rate against the 2.2 billion yen full-year plan was 34.6%, also falling below the five-year average of 46.7%.

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 expand by 76.7% from the same period last year, reaching 1.43 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit significantly dropped to 255 million yen, a 56.7% decrease compared to the same period last year. The operating profit margin worsened from 4.3% 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	26,878	2,201	2,396	1,562	141.8	55.1	Nov 8, 2022	J-GAAP
Apr - Sep, 2023	26,505	1,267	1,446	905	82.1	64.0	Nov 8, 2023	J-GAAP
Apr - Sep, 2024	25,098	836	762	467	42.4	34.6	Nov 8, 2024	J-GAAP
YoY	-5.3%	-34.0%	-47.3%	-48.4%	-48.4%

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	24,000	750	750	450	40.8	15	May 14, 2024	J-GAAP
Apr - Sep, 2024 Results	25,098	836	762	467	42.4	15	Nov 8, 2024	J-GAAP
Revision Rate	+4.6%	+11.5%	+1.6%	+3.8%	+3.7%

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	25,608	817	814	391	35.5	45	May 14, 2024	J-GAAP
Oct - Mar, 2024 Guidance	26,402	1,464	1,438	933	84.7	－	Nov 8, 2024	J-GAAP
YoY	+3.1%	+79.2%	+76.7%	+138.6%	+138.6%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	53,829	4,273	4,350	2,828	256.6	100	May 12, 2023	J-GAAP
Mar, 2024	52,113	2,084	2,260	1,296	117.6	55	May 14, 2024	J-GAAP
Mar, 2025 Guidance	51,500	2,300	2,200	1,400	127.1	－	May 14, 2024	J-GAAP
YoY	-1.2%	+10.4%	-2.7%	+8.0%	+8.0%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	13,146	565	589	341	30.9	4.3	Nov 8, 2023	J-GAAP
Oct - Dec, 2023	13,436	584	523	295	26.8	4.3	Feb 7, 2024	J-GAAP
Jan - Mar, 2024	12,172	233	291	96	8.7	1.9	May 14, 2024	J-GAAP
Apr - Jun, 2024	12,440	412	507	326	29.5	3.3	Aug 8, 2024	J-GAAP
Jul - Sep, 2024	12,658	424	255	141	12.8	3.3	Nov 8, 2024	J-GAAP
YoY	-3.7%	-25.0%	-56.7%	-58.7%	-58.7%