KAWADEN CORPORATION, First Half Ordinary Profit Increases by 30%

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Mon Nov 11, 2024 3:30 pm JST Earnings

6648 KAWADEN CORPORATION 【J-GAAP】

Earnings Report

KAWADEN CORPORATION <6648> [TSE-S] announced its financial results after the market closed on November 11th (15:30). The ordinary profit (non-consolidated) for the cumulative second quarter of the fiscal year ending March 2025 (April to September) increased by 29.5% from the same period last year, reaching 724 million yen, exceeded the previous forecast of 600 million yen.

The progress rate against the 1.2 billion yen full-year plan was 60.3%, also surpassing the five-year average of 42.5%.

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 19.9% from the same period last year to 476 million yen.

In the most recent three-month period, from July to September (2Q), the ordinary profit decreased to 372 million yen, a 14.1% decrease compared to the same period last year. The operating profit margin worsened from 7.4% in the same period last year to 7.0%.

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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	9,487	265	255	136	42.6	50.9	Nov 9, 2022	J-GAAP
Apr - Sep, 2023	10,666	553	559	375	117.2	48.5	Nov 9, 2023	J-GAAP
Apr - Sep, 2024	10,492	714	724	467	146.1	60.3	Nov 11, 2024	J-GAAP
YoY	-1.6%	+29.1%	+29.5%	+24.5%	+24.6%

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	11,000	600	600	390	121.8	40	May 9, 2024	J-GAAP
Apr - Sep, 2024 Results	10,492	714	724	467	146.1	40	Nov 11, 2024	J-GAAP
Revision Rate	-4.6%	+19.0%	+20.7%	+19.7%	+20.0%

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	10,668	581	594	369	115.3	50	May 9, 2024	J-GAAP
Oct - Mar, 2024 Guidance	11,508	486	476	313	97.7	40	Nov 11, 2024	J-GAAP
YoY	+7.9%	-16.4%	-19.9%	-15.2%	-15.2%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	19,664	509	501	320	100.0	80	May 11, 2023	J-GAAP
Mar, 2024	21,334	1,134	1,153	744	232.4	90	May 9, 2024	J-GAAP
Mar, 2025 Guidance	22,000	1,200	1,200	780	243.5	80	May 9, 2024	J-GAAP
YoY	+3.1%	+5.8%	+4.1%	+4.8%	+4.8%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	5,716	425	433	343	107.2	7.4	Nov 9, 2023	J-GAAP
Oct - Dec, 2023	5,746	433	431	270	84.4	7.5	Feb 8, 2024	J-GAAP
Jan - Mar, 2024	4,922	148	163	99	30.9	3.0	May 9, 2024	J-GAAP
Apr - Jun, 2024	5,289	348	352	228	71.2	6.6	Aug 9, 2024	J-GAAP
Jul - Sep, 2024	5,203	366	372	239	74.8	7.0	Nov 11, 2024	J-GAAP
YoY	-9.0%	-13.9%	-14.1%	-30.3%	-30.3%