KONDOTEC INC., First Half Ordinary Profit Revised Downward to an Unexpected 7%Decrease

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Fri Nov 8, 2024 2:00 pm JST Earnings

7438 KONDOTEC INC. 【J-GAAP】

Earnings Report

KONDOTEC INC. <7438> [TSE-P] 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) decreased by 7.4% from the same period last year to 2.15 billion yen, resulting in a decrease in profits compared to the previous forecast of a 0.7% increase.

The progress rate against the 4.95 billion yen full-year plan was 43.6%, also falling below the five-year average of 46.8%.

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 9.9% from the same period last year, reaching 2.79 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit decreased to 1.18 billion yen, a 8.5% decrease compared to the same period last year. The operating profit margin worsened from 6.6% in the same period last year to 5.8%.

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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	36,229	1,938	2,038	1,289	50.6	44.7	Nov 10, 2022	J-GAAP
Apr - Sep, 2023	37,864	2,234	2,330	1,545	60.6	47.8	Nov 10, 2023	J-GAAP
Apr - Sep, 2024	38,640	2,042	2,157	1,525	59.7	43.6	Nov 8, 2024	J-GAAP
YoY	+2.0%	-8.6%	-7.4%	-1.3%	-1.5%

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	39,959	2,245	2,346	1,563	61.1	23	May 14, 2024	J-GAAP
Apr - Sep, 2024 Results	38,640	2,042	2,157	1,525	59.7	23	Nov 8, 2024	J-GAAP
Revision Rate	-3.3%	-9.0%	-8.1%	-2.4%	-2.3%

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	39,009	2,439	2,542	1,720	67.4	20	May 14, 2024	J-GAAP
Oct - Mar, 2024 Guidance	42,860	2,708	2,793	1,775	69.4	23	Nov 8, 2024	J-GAAP
YoY	+9.9%	+11.0%	+9.9%	+3.2%	+2.8%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	75,447	4,355	4,563	2,414	94.8	34	May 12, 2023	J-GAAP
Mar, 2024	76,873	4,673	4,872	3,265	128.0	40	May 14, 2024	J-GAAP
Mar, 2025 Guidance	81,500	4,750	4,950	3,300	129.0	46	May 14, 2024	J-GAAP
YoY	+6.0%	+1.6%	+1.6%	+1.1%	+0.7%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	19,102	1,253	1,298	872	34.2	6.6	Nov 10, 2023	J-GAAP
Oct - Dec, 2023	20,043	1,392	1,442	962	37.7	6.9	Feb 9, 2024	J-GAAP
Jan - Mar, 2024	18,966	1,047	1,100	758	29.7	5.5	May 14, 2024	J-GAAP
Apr - Jun, 2024	19,134	913	969	622	24.4	4.8	Aug 9, 2024	J-GAAP
Jul - Sep, 2024	19,506	1,129	1,188	903	35.4	5.8	Nov 8, 2024	J-GAAP
YoY	+2.1%	-9.9%	-8.5%	+3.6%	+3.3%