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AUTOWAVE Co.,Ltd., First Half Ordinary Profit Decreases by 29%, July-September Ordinary Profit Decreases by 10%

Fri Nov 8, 2024 2:00 pm JST Earnings

2666 AUTOWAVE Co.,Ltd. 【J-GAAP】

Earnings Report

AUTOWAVE Co.,Ltd. <2666> [TSE-S] announced its financial results in the afternoon session on November 8th (14:00). The ordinary profit (non-consolidated) for the cumulative second quarter of the fiscal year ending March 2025 (April to September) decreased by 28.8% from the same period last year to 116 million yen. The progress rate against the 443 million yen full-year plan was 26.2%, also falling below the five-year average of 30.8%.

Based on the first-half performance announced by the company and the unchanged full-year plan, our calculation indicates that the ordinary profit for the October to March period (second half) is expected to grow by 24.3% from the same period last year, reaching 327 million yen.

In the most recent three-month period, from July to September (2Q), the ordinary profit decreased to 71 million yen, a 10.1% decrease compared to the same period last year. The operating profit margin worsened from 2.5% in the same period last year to 2.0%.

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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 3,652 86 148 92 6.4 36.2 Nov 11, 2022 J-GAAP
Apr - Sep, 2023 4,052 111 163 99 6.9 38.3 Nov 10, 2023 J-GAAP
Apr - Sep, 2024 4,066 58 116 67 4.7 26.2 Nov 8, 2024 J-GAAP
YoY +0.3% -47.7% -28.8% -32.3% -31.7%

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 4,017 47 105 61 4.2 0 May 10, 2024 J-GAAP
Apr - Sep, 2024 Results 4,066 58 116 67 4.7 0 Nov 8, 2024 J-GAAP
Revision Rate +1.2% +23.4% +10.5% +9.8% +11.1%

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 4,370 222 263 164 11.4 3 May 10, 2024 J-GAAP
Oct - Mar, 2024 Guidance 4,448 264 327 206 14.3 3 Nov 8, 2024 J-GAAP
YoY +1.8% +18.9% +24.3% +25.6% +25.4%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 7,994 296 409 259 18.0 2 May 12, 2023 J-GAAP
Mar, 2024 8,422 333 426 263 18.2 3 May 10, 2024 J-GAAP
Mar, 2025 Guidance 8,514 322 443 273 18.9 3 May 10, 2024 J-GAAP
YoY +1.1% -3.3% +4.0% +3.8% +3.7%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 2,064 52 79 47 3.3 2.5 Nov 10, 2023 J-GAAP
Oct - Dec, 2023 2,268 140 175 110 7.6 6.2 Feb 9, 2024 J-GAAP
Jan - Mar, 2024 2,102 82 88 54 3.7 3.9 May 10, 2024 J-GAAP
Apr - Jun, 2024 1,990 17 45 24 1.7 0.9 Aug 9, 2024 J-GAAP
Jul - Sep, 2024 2,076 41 71 43 3.0 2.0 Nov 8, 2024 J-GAAP
YoY +0.6% -21.2% -10.1% -8.5% -7.7%

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