SONEC CORPORATION, First Half Ordinary Profit Decreases by 46%, July-September Ordinary Profit Decreases by 28%

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Fri Nov 8, 2024 4:00 pm JST Earnings

1768 SONEC CORPORATION 【J-GAAP】

Earnings Report

SONEC CORPORATION <1768> [TSE-S] announced its financial results after the market closed on November 8th (16:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) dropped by 46.1% from the same period last year to 137 million yen. The progress rate against the 334 million yen full-year plan was 41.0%, also falling below the five-year average of 52.3%.

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 surge by 3.1 times that of the same period last year, reaching 197 million yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit decreased to 107 million yen, a 28.2% decrease compared to the same period last year. The operating profit margin worsened from 2.9% in the same period last year to 2.6%.

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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	8,691	542	574	395	54.2	57.2	Nov 9, 2022	J-GAAP
Apr - Sep, 2023	8,459	220	254	170	23.4	80.1	Nov 9, 2023	J-GAAP
Apr - Sep, 2024	6,434	103	137	81	11.1	41.0	Nov 8, 2024	J-GAAP
YoY	-23.9%	-53.2%	-46.1%	-52.4%	-52.4%

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	7,372	121	155	95	13.0	0	May 8, 2024	J-GAAP
Apr - Sep, 2024 Results	6,434	103	137	81	11.1	0	Nov 8, 2024	J-GAAP
Revision Rate	-12.7%	-14.9%	-11.6%	-14.7%	-14.5%

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	7,720	29	63	-26	-3.6	30	May 8, 2024	J-GAAP
Oct - Mar, 2024 Guidance	10,419	165	197	157	21.5	30	Nov 8, 2024	J-GAAP
YoY	+35.0%	+469.0%	+212.7%	－	－

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	18,039	940	1,003	688	94.3	30	May 8, 2023	J-GAAP
Mar, 2024	16,179	249	317	144	19.8	30	May 8, 2024	J-GAAP
Mar, 2025 Guidance	16,853	268	334	238	32.6	30	May 8, 2024	J-GAAP
YoY	+4.2%	+7.6%	+5.4%	+65.3%	+64.2%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	4,554	134	149	102	14.0	2.9	Nov 9, 2023	J-GAAP
Oct - Dec, 2023	3,210	-115	-95	-66	-9.1	-3.6	Feb 8, 2024	J-GAAP
Jan - Mar, 2024	4,510	144	158	40	5.5	3.2	May 8, 2024	J-GAAP
Apr - Jun, 2024	2,769	8	30	18	2.5	0.3	Aug 9, 2024	J-GAAP
Jul - Sep, 2024	3,665	95	107	63	8.7	2.6	Nov 8, 2024	J-GAAP
YoY	-19.5%	-29.1%	-28.2%	-38.2%	-38.3%