Shinki Bus Co.,Ltd., The Current Fiscal Year Ordinary Profit Revised Upward to an Unexpected 3% Increase, Adds to Record High Profit, Dividend Revised Upward by 20 yen

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Fri Nov 8, 2024 4:30 pm JST Earnings

9083 Shinki Bus Co.,Ltd. 【J-GAAP】

Earnings Report

Shinki Bus Co.,Ltd. <9083> [TSE-S] announced its financial results after the market closed on November 8th (16:30). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) surged by 3.9 times that of the same period last year, reaching 681 million yen.

In addition, the full-year consolidated ordinary profit has been revised upward by 23.4%, from the previous forecast of 2.74 billion yen to 3.38 billion yen (compared to 3.28 billion yen in the previous period), record profits reach two consecutive terms, turning to a 3.0% increase in the consolidated ordinary profit outlook.

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 decrease by 13.2% from the same period last year to 2.69 billion yen.

In light of the strong performance, the company has significantly increased its planned annual dividend for the current fiscal year from the original plan of 40 yen to 60 yen (compared to 40 yen in the previous period).

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit surged to 4.7 times that of the same period last year, reaching 236 million yen. The operating profit margin improved from 0.4% in the same period last year to 1.9%.

Kabutan News

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	20,003	-203	-63	-119	-19.9	ー	Nov 10, 2022	J-GAAP
Apr - Sep, 2023	22,258	160	173	-20	-3.3	5.3	Nov 10, 2023	J-GAAP
Apr - Sep, 2024	24,355	603	681	420	69.8	20.1	Nov 8, 2024	J-GAAP
YoY	+9.4%	+276.9%	+293.6%	－	－

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	－	20	May 14, 2024	J-GAAP
Apr - Sep, 2024 Results	24,355	603	681	420	69.8	30	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	51,600	2,600	2,740	1,800	298.4	40	May 14, 2024	J-GAAP
Mar, 2025 New	52,900	3,200	3,380	2,260	374.7	60	Nov 8, 2024	J-GAAP
Revision Rate	+2.5%	+23.1%	+23.4%	+25.6%	+25.6%

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	27,222	2,985	3,110	2,271	377.0	22.50	May 14, 2024	J-GAAP
Oct - Mar, 2024 Guidance	28,545	2,597	2,699	1,840	305.1	30	Nov 8, 2024	J-GAAP
YoY	+4.9%	-13.0%	-13.2%	-19.0%	-19.1%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	44,820	2,362	2,622	1,766	293.3	40	May 15, 2023	J-GAAP
Mar, 2024	49,480	3,145	3,283	2,251	373.7	40	May 14, 2024	J-GAAP
Mar, 2025 Guidance	52,900	3,200	3,380	2,260	374.7	60	Nov 8, 2024	J-GAAP
YoY	+6.9%	+1.7%	+3.0%	+0.4%	+0.3%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	11,394	48	50	-14	-2.3	0.4	Nov 10, 2023	J-GAAP
Oct - Dec, 2023	12,690	598	591	375	62.3	4.7	Feb 9, 2024	J-GAAP
Jan - Mar, 2024	14,532	2,387	2,519	1,896	314.8	16.4	May 14, 2024	J-GAAP
Apr - Jun, 2024	12,067	365	445	302	50.2	3.0	Aug 6, 2024	J-GAAP
Jul - Sep, 2024	12,288	238	236	118	19.6	1.9	Nov 8, 2024	J-GAAP
YoY	+7.8%	+395.8%	+372.0%	－	－