METALART CORPORATION, First Half Ordinary Profit Decreases by 12%

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Fri Nov 8, 2024 2:00 pm JST Earnings

5644 METALART CORPORATION 【J-GAAP】

Earnings Report

METALART CORPORATION <5644> [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) decreased by 11.9% from the same period last year to 1.59 billion yen. However, The progress rate against the 2.32 billion yen full-year plan was 68.8%, also surpassing the five-year average of 40.9%.

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 drop by 47.2% from the same period last year to 723 million yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit decreased to 1.11 billion yen, a 3.7% decrease compared to the same period last year. The operating profit margin worsened from 9.4% in the same period last year to 8.9%.

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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	20,100	1,605	1,645	1,072	354.9	42.6	Nov 11, 2022	J-GAAP
Apr - Sep, 2023	23,360	1,692	1,813	1,195	405.7	57.0	Nov 9, 2023	J-GAAP
Apr - Sep, 2024	21,747	1,455	1,597	1,077	365.7	68.8	Nov 8, 2024	J-GAAP
YoY	-6.9%	-14.0%	-11.9%	-9.9%	-9.9%

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	22,000	1,290	1,440	960	325.7	64	Aug 8, 2024	J-GAAP
Apr - Sep, 2024 Results	21,747	1,455	1,597	1,077	365.7	64	Nov 8, 2024	J-GAAP
Revision Rate	-1.2%	+12.8%	+10.9%	+12.2%	+12.3%

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	21,661	1,229	1,370	924	313.6	60	May 9, 2024	J-GAAP
Oct - Mar, 2024 Guidance	23,653	615	723	443	150.3	64	Nov 8, 2024	J-GAAP
YoY	+9.2%	-50.0%	-47.2%	-52.1%	-52.1%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	44,238	3,804	3,866	2,632	879.9	90	May 12, 2023	J-GAAP
Mar, 2024	45,021	2,921	3,183	2,119	719.2	118	May 9, 2024	J-GAAP
Mar, 2025 Guidance	45,400	2,070	2,320	1,520	515.7	128	May 9, 2024	J-GAAP
YoY	+0.8%	-29.1%	-27.1%	-28.3%	-28.3%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	12,341	1,159	1,157	773	262.4	9.4	Nov 9, 2023	J-GAAP
Oct - Dec, 2023	12,408	844	902	616	209.1	6.8	Feb 8, 2024	J-GAAP
Jan - Mar, 2024	9,253	385	468	308	104.5	4.2	May 9, 2024	J-GAAP
Apr - Jun, 2024	10,198	430	483	344	116.9	4.2	Aug 8, 2024	J-GAAP
Jul - Sep, 2024	11,549	1,025	1,114	733	248.9	8.9	Nov 8, 2024	J-GAAP
YoY	-6.4%	-11.6%	-3.7%	-5.2%	-5.2%