EPCO Co.,Ltd., January-September (Third Quarter Cumulative) Ordinary Profit Decreases by 14%, July-September Ordinary Profit Decreases by 55%

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Mon Nov 11, 2024 3:30 pm JST Earnings

2311 EPCO Co.,Ltd. 【J-GAAP】

Earnings Report

EPCO Co.,Ltd. <2311> [TSE-S] announced its financial results after the market closed on November 11th (15:30). The consolidated ordinary profit for the cumulative third quarter of the fiscal year ending December 2024 (January to September) decreased by 14.4% from the same period last year to 184 million yen. The progress rate against the 411 million yen full-year plan was 44.8%, also falling below the five-year average of 71.8%.

Based on the third-quarter cumulative performance announced by the company and the unchanged full-year plan, our calculation indicates that the consolidated ordinary profit for the October to December period (4Q) is expected to grow by 8.1% from the same period last year, reaching 227 million yen.

In the most recent three-month period, from July to September (3Q), the consolidated ordinary profit significantly dropped to 61 million yen, a 55.5% decrease compared to the same period last year. However, the operating profit margin remained almost flat, changing from 6.5% in the same period last year to 6.7%.

Kabutan News

Actual Results

Accumulated Results 3rd Quarter

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Progress Rate vs. First Half	Announce	Accounting Standards
Jan - Sep, 2022	3,588	70	173	228	25.6	80.1	Nov 10, 2022	J-GAAP
Jan - Sep, 2023	3,712	139	215	284	31.8	50.6	Nov 8, 2023	J-GAAP
Jan - Sep, 2024	4,190	266	184	84	9.4	44.8	Nov 11, 2024	J-GAAP
YoY	+12.9%	+91.4%	-14.4%	-70.4%	-70.3%

Current Period Guidance

Second Half Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Jul - Dec, 2023	2,655	107	347	449	50.3	18	Feb 13, 2024	J-GAAP
Jul - Dec, 2024 Guidance	2,866	101	288	425	47.5	18	Aug 8, 2024	J-GAAP
YoY	+7.9%	-5.6%	-17.0%	-5.3%	-5.6%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Dec, 2022	4,818	65	216	359	40.3	32	Feb 13, 2023	J-GAAP
Dec, 2023	5,059	161	425	626	70.1	32	Feb 13, 2024	J-GAAP
Dec, 2024 Guidance	5,660	273	411	485	54.2	32	Feb 13, 2024	J-GAAP
YoY	+11.9%	+69.6%	-3.3%	-22.5%	-22.7%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	1,308	85	137	107	12.0	6.5	Nov 8, 2023	J-GAAP
Oct - Dec, 2023	1,347	22	210	342	38.3	1.6	Feb 13, 2024	J-GAAP
Jan - Mar, 2024	1,354	69	42	18	2.1	5.1	May 13, 2024	J-GAAP
Apr - Jun, 2024	1,440	103	81	42	4.7	7.2	Aug 8, 2024	J-GAAP
Jul - Sep, 2024	1,396	94	61	24	2.7	6.7	Nov 11, 2024	J-GAAP
YoY	+6.7%	+10.6%	-55.5%	-77.6%	-77.5%