SHIP HEALTHCARE HOLDINGS, INC., First Half Ordinary Profit Decreases by 17%, July-September Ordinary Profit Decreases by 28%

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Fri Nov 8, 2024 3:30 pm JST Earnings

3360 SHIP HEALTHCARE HOLDINGS, INC. 【J-GAAP】

Earnings Report

SHIP HEALTHCARE HOLDINGS, INC. <3360> [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) decreased by 16.8% from the same period last year to 8.41 billion yen. The progress rate against the 26 billion yen full-year plan was 32.4%, also falling below 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 grow by 16.5% from the same period last year, reaching 17.5 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit decreased to 3.92 billion yen, a 28.1% decrease compared to the same period last year. The operating profit margin worsened from 3.6% in the same period last year to 2.7%.

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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	263,520	7,971	7,498	4,143	43.9	36.4	Nov 8, 2022	J-GAAP
Apr - Sep, 2023	296,771	9,238	10,116	3,686	39.1	40.1	Nov 10, 2023	J-GAAP
Apr - Sep, 2024	310,032	7,743	8,414	5,539	58.7	32.4	Nov 8, 2024	J-GAAP
YoY	+4.5%	-16.2%	-16.8%	+50.3%	+50.3%

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	300,000	8,500	8,500	5,000	53.0	0	May 10, 2024	J-GAAP
Apr - Sep, 2024 Results	310,032	7,743	8,414	5,539	58.7	0	Nov 8, 2024	J-GAAP
Revision Rate	+3.3%	-8.9%	-1.0%	+10.8%	+10.8%

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	334,217	15,297	15,099	10,103	107.1	50	May 10, 2024	J-GAAP
Oct - Mar, 2024 Guidance	329,968	18,257	17,586	9,461	100.3	53	Nov 8, 2024	J-GAAP
YoY	-1.3%	+19.4%	+16.5%	-6.4%	-6.4%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	572,285	21,144	20,607	12,063	127.9	42	May 12, 2023	J-GAAP
Mar, 2024	630,988	24,535	25,215	13,789	146.2	50	May 10, 2024	J-GAAP
Mar, 2025 Guidance	640,000	26,000	26,000	15,000	159.0	53	May 10, 2024	J-GAAP
YoY	+1.4%	+6.0%	+3.1%	+8.8%	+8.8%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	150,304	5,396	5,468	688	7.3	3.6	Nov 10, 2023	J-GAAP
Oct - Dec, 2023	156,286	5,892	5,672	3,538	37.5	3.8	Feb 9, 2024	J-GAAP
Jan - Mar, 2024	177,931	9,405	9,427	6,565	69.6	5.3	May 10, 2024	J-GAAP
Apr - Jun, 2024	155,219	3,502	4,485	3,065	32.5	2.3	Aug 9, 2024	J-GAAP
Jul - Sep, 2024	154,813	4,241	3,929	2,474	26.2	2.7	Nov 8, 2024	J-GAAP
YoY	+3.0%	-21.4%	-28.1%	+259.6%	+259.7%