OLYMPUS CORPORATION, First Half Net Income Decreases by 77%

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Fri Nov 8, 2024 3:30 pm JST Earnings

7733 OLYMPUS CORPORATION 【IFRS】

Earnings Report

OLYMPUS CORPORATION <7733> [TSE-P] announced its financial results (based on IFRS) after the market closed on November 8th (15:30). The consolidated net income for the cumulative second quarter of the fiscal year ending March 2025 (April to September) significantly dropped by 77.4% from the same period last year to 48.9 billion yen. The progress rate against the 121 billion yen full-year plan was 40.5%, also falling below the five-year average of 64.9%.

Based on the first-half performance announced by the company and the unchanged full-year plan, our calculation indicates that the consolidated net income for the October to March period (second half) is expected to surge by 2.7 times that of the same period last year, reaching 72 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated net income/loss turned to a profit of profit of 34.3 billion yen (compared to a loss of 24.2 billion yen in the same period last year). The operating profit/loss margin drastically improved from -8.3% in the same period last year to 18.0%.

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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	417,060	93,603	89,321	66,836	52.5	49.0	Nov 11, 2022	IFRS
Apr - Sep, 2023	431,593	3,767	-2,051	216,296	173.8	ー	Nov 9, 2023	IFRS
Apr - Sep, 2024	474,029	70,530	68,805	48,978	42.2	40.5	Nov 8, 2024	IFRS
YoY	+9.8%	+1,772.3%	－	-77.4%	-75.7%

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	ー	ー	ー	ー	－	0	May 10, 2024	IFRS
Apr - Sep, 2024 Results	474,029	70,530	68,805	48,978	42.2	0	Nov 8, 2024	IFRS
Revision Rate	－	－	－	－	－

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	504,617	39,831	37,905	26,270	21.7	18	May 10, 2024	IFRS
Oct - Mar, 2024 Guidance	534,971	105,470	101,195	72,022	63.9	20	Nov 8, 2024	IFRS
YoY	+6.0%	+164.8%	+167.0%	+174.2%	+195.0%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	881,923	186,609	182,294	143,432	113.2	16	May 12, 2023	IFRS
Mar, 2024	936,210	43,598	35,854	242,566	199.9	18	May 10, 2024	IFRS
Mar, 2025 Guidance	1,009,000	176,000	170,000	121,000	107.3	20	Aug 7, 2024	IFRS
YoY	+7.8%	+303.7%	+374.1%	-50.1%	-46.3%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	226,608	-18,859	-21,887	-24,264	-19.5	-8.3	Nov 9, 2023	IFRS
Oct - Dec, 2023	244,121	35,268	35,069	18,916	15.4	14.4	Feb 14, 2024	IFRS
Jan - Mar, 2024	260,496	4,563	2,836	7,354	6.1	1.8	May 10, 2024	IFRS
Apr - Jun, 2024	234,821	27,477	26,398	14,583	12.5	11.7	Aug 7, 2024	IFRS
Jul - Sep, 2024	239,208	43,053	42,407	34,395	29.7	18.0	Nov 8, 2024	IFRS
YoY	+5.6%	－	－	－	－