ASIA PILE HOLDINGS CORPORATION, The Current Fiscal Year Ordinary Profit Revised Downward to an Unexpected 44% Decrease

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Fri Nov 8, 2024 3:30 pm JST Earnings

5288 ASIA PILE HOLDINGS CORPORATION 【J-GAAP】

Earnings Report

ASIA PILE HOLDINGS CORPORATION <5288> [TSE-P] announced its financial results after the market closed on November 8th (15:30). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) dropped by 48.8% from the same period last year to 1.48 billion yen.

In addition, the full-year consolidated ordinary profit has downwardly by 44.4%, from the previous forecast of 6.3 billion yen to 3.5 billion yen (compared to 6.24 billion yen in the previous period). This changes the outlook from an anticipated profit increase to a projection of a 44.0% decrease in profit.

Based on the first-half performance announced by the company and the full-year plan, our calculation indicates that the consolidated ordinary profit for the October to March period (second half) is expected to drop by 39.8% from the same period last year to 2.01 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit dropped to 679 million yen, a 39.0% decrease compared to the same period last year. The operating profit margin worsened from 5.5% in the same period last year to 3.8%.

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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	54,125	3,627	3,533	2,525	66.3	60.5	Nov 10, 2022	J-GAAP
Apr - Sep, 2023	49,366	3,289	2,906	2,126	55.8	46.5	Nov 10, 2023	J-GAAP
Apr - Sep, 2024	45,723	1,711	1,488	1,249	32.8	42.5	Nov 8, 2024	J-GAAP
YoY	-7.4%	-48.0%	-48.8%	-41.3%	-41.2%

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	－	22.50	May 10, 2024	J-GAAP
Apr - Sep, 2024 Results	45,723	1,711	1,488	1,249	32.8	22.50	Nov 8, 2024	J-GAAP
Revision Rate	－	－	－	－	－

Guidance Update

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	104,000	7,100	6,300	3,900	102.4	45	May 10, 2024	J-GAAP
Mar, 2025 New	97,000	4,000	3,500	2,300	60.4	45	Nov 8, 2024	J-GAAP
Revision Rate	-6.7%	-43.7%	-44.4%	-41.0%	-41.0%

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	53,785	3,727	3,341	1,695	44.5	25	May 10, 2024	J-GAAP
Oct - Mar, 2024 Guidance	51,277	2,289	2,012	1,051	27.6	22.50	Nov 8, 2024	J-GAAP
YoY	-4.7%	-38.6%	-39.8%	-38.0%	-38.0%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	110,245	6,283	5,844	4,130	108.4	30	May 10, 2023	J-GAAP
Mar, 2024	103,151	7,016	6,247	3,821	100.3	40	May 10, 2024	J-GAAP
Mar, 2025 Guidance	97,000	4,000	3,500	2,300	60.4	45	Nov 8, 2024	J-GAAP
YoY	-6.0%	-43.0%	-44.0%	-39.8%	-39.8%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	24,348	1,349	1,113	843	22.1	5.5	Nov 10, 2023	J-GAAP
Oct - Dec, 2023	26,762	1,675	1,564	1,056	27.7	6.3	Feb 9, 2024	J-GAAP
Jan - Mar, 2024	27,023	2,052	1,777	639	16.8	7.6	May 10, 2024	J-GAAP
Apr - Jun, 2024	21,484	794	809	386	10.1	3.7	Aug 9, 2024	J-GAAP
Jul - Sep, 2024	24,239	917	679	863	22.7	3.8	Nov 8, 2024	J-GAAP
YoY	-0.4%	-32.0%	-39.0%	+2.4%	+2.4%