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SATO FOODS INDUSTRIES CO.,LTD., July-September (2Q) Ordinary Profit Decreases by 50%

Fri Nov 8, 2024 4:00 pm JST Earnings

2814 SATO FOODS INDUSTRIES CO.,LTD. 【J-GAAP】

Earnings Report

SATO FOODS INDUSTRIES CO.,LTD. <2814> [TSE-S] announced its financial results after the market closed on November 8th (16:00). The ordinary profit (non-consolidated) for the cumulative second quarter of the fiscal year ending March 2025 (April to September) was 329 million yen, a 0.6% decrease compared to the same period last year. The progress rate against the 727 million yen full-year plan was 45.3%, which was higher than the five-year average of 40.6%.

Based on the first-half performance announced by the company and the unchanged full-year plan, our calculation indicates that the ordinary profit for the October to March period (second half) is expected to decrease by 13.1% from the same period last year to 398 million yen.

In the most recent three-month period, from July to September (2Q), the ordinary profit dropped to 62 million yen, a 50.0% decrease compared to the same period last year. The operating profit margin drastically worsened from 7.9% 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 2,789 258 319 211 50.2 41.8 Nov 4, 2022 J-GAAP
Apr - Sep, 2023 2,934 260 331 261 64.3 42.0 Nov 2, 2023 J-GAAP
Apr - Sep, 2024 3,108 256 329 272 69.9 45.3 Nov 8, 2024 J-GAAP
YoY +5.9% -1.5% -0.6% +4.2% +8.7%

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 2,983 200 265 210 53.7 20 May 10, 2024 J-GAAP
Apr - Sep, 2024 Results 3,108 256 329 272 69.9 20 Nov 8, 2024 J-GAAP
Revision Rate +4.2% +28.0% +24.2% +29.5% +30.2%

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 3,167 403 458 512 126.5 22 May 10, 2024 J-GAAP
Oct - Mar, 2024 Guidance 3,092 361 398 260 70.0 20 Nov 8, 2024 J-GAAP
YoY -2.4% -10.4% -13.1% -49.2% -44.7%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 5,881 618 764 384 92.5 35 May 12, 2023 J-GAAP
Mar, 2024 6,101 663 789 773 191.0 40 May 10, 2024 J-GAAP
Mar, 2025 Guidance 6,200 617 727 532 143.1 40 May 10, 2024 J-GAAP
YoY +1.6% -6.9% -7.9% -31.2% -25.1%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 1,494 118 124 97 23.9 7.9 Nov 2, 2023 J-GAAP
Oct - Dec, 2023 1,695 232 284 221 54.5 13.7 Feb 2, 2024 J-GAAP
Jan - Mar, 2024 1,472 171 174 291 71.9 11.6 May 10, 2024 J-GAAP
Apr - Jun, 2024 1,484 195 267 203 52.1 13.1 Aug 2, 2024 J-GAAP
Jul - Sep, 2024 1,624 61 62 69 17.7 3.8 Nov 8, 2024 J-GAAP
YoY +8.7% -48.3% -50.0% -28.9% -25.8%

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