RIVER ELETEC CORPORATION, The Current Fiscal Year Ordinary Profit Revised Downward to a Loss

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Fri Nov 8, 2024 3:40 pm JST Earnings

6666 RIVER ELETEC CORPORATION 【J-GAAP】

Earnings Report

RIVER ELETEC CORPORATION <6666> [TSE-S] announced its financial results after the market closed on November 8th (15:40). The consolidated ordinary profit/loss for the cumulative second quarter of the fiscal year ending March 2025 (April to September) turned into a loss of 44 million yen (compared to a profit of 38 million yen in the same period last year).

In addition, the full-year consolidated ordinary profit/loss has been revised downward from an expected profit of 34 million yen to a loss of 88 million yen (compared to a profit of 56 million yen in the previous period), turning to a loss outlook.

Based on the first-half performance announced by the company and the full-year plan, our calculation indicates that the consolidated ordinary profit/loss for the October to March period (second half) is expected to turn into a loss of 44 million yen (compared to a profit of 18 million yen in the same period last year).

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit/loss turned to a loss of 94 million yen (compared to a profit of 64 million yen in the same period last year). The operating profit/loss margin drastically worsened from 2.5% in the same period last year to -4.9%.

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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	4,032	765	856	727	84.4	71.2	Nov 11, 2022	J-GAAP
Apr - Sep, 2023	2,795	8	38	-107	-12.6	67.9	Nov 10, 2023	J-GAAP
Apr - Sep, 2024	2,742	-45	-44	-41	-5.1	ー	Nov 8, 2024	J-GAAP
YoY	-1.9%	－	－	+61.7%	+59.9%

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	2,805	-103	-105	-87	-10.6	5	May 10, 2024	J-GAAP
Apr - Sep, 2024 Results	2,742	-45	-44	-41	-5.1	5	Nov 8, 2024	J-GAAP
Revision Rate	-2.2%	+56.3%	+58.1%	+52.9%	+52.1%

Guidance Update

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	6,079	53	34	14	1.7	10	May 10, 2024	J-GAAP
Mar, 2025 New	5,700	-77	-88	-85	-10.3	10	Nov 8, 2024	J-GAAP
Revision Rate	-6.2%	－	－	－	－

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	2,659	0	18	-26	-3.1	5	May 10, 2024	J-GAAP
Oct - Mar, 2024 Guidance	2,958	-32	-44	-44	-5.4	5	Nov 8, 2024	J-GAAP
YoY	+11.2%	－	－	-69.2%	-72.0%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	6,855	1,125	1,203	893	103.6	13	May 12, 2023	J-GAAP
Mar, 2024	5,454	8	56	-133	-15.9	10	May 10, 2024	J-GAAP
Mar, 2025 Guidance	5,700	-77	-88	-85	-10.3	10	Nov 8, 2024	J-GAAP
YoY	+4.5%	－	－	+36.1%	+35.1%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	1,574	40	64	-90	-10.6	2.5	Nov 10, 2023	J-GAAP
Oct - Dec, 2023	1,454	76	70	20	2.4	5.2	Feb 9, 2024	J-GAAP
Jan - Mar, 2024	1,205	-76	-52	-46	-5.5	-6.3	May 10, 2024	J-GAAP
Apr - Jun, 2024	1,326	25	50	33	4.1	1.9	Aug 9, 2024	J-GAAP
Jul - Sep, 2024	1,416	-70	-94	-74	-9.1	-4.9	Nov 8, 2024	J-GAAP
YoY	-10.0%	－	－	+17.8%	+13.9%