UP GARAGE GROUP Co., Ltd., First Half Ordinary Profit Increases by 28%, Current Fiscal Year Dividend Revised Upward by 2.5 yen

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Mon Nov 11, 2024 3:30 pm JST Earnings

7134 UP GARAGE GROUP Co., Ltd. 【J-GAAP】

Earnings Report

UP GARAGE GROUP Co., Ltd. <7134> [TSE-S] announced its financial results after the market closed on November 11th (15:30). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) increased by 28.5% from the same period last year, reaching 352 million yen. However, The progress rate against the 1.11 billion yen full-year plan was 31.7%, almost the same as the three-year average of 33.3%.

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 grow by 8.4% from the same period last year, reaching 760 million yen.

At the same time, the company has increased its planned year-end lump-sum dividend for the current fiscal year from the original plan of 27 yen to 29.5 yen (compared to 24.5 yen in the previous period).

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit grew by 14.8% from the same period last year, reaching 147 million yen. However, the operating profit margin remained almost flat, changing from 4.3% in the same period last year to 4.1%.

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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	5,131	291	307	189	24.0	35.1	Nov 14, 2022	J-GAAP
Apr - Sep, 2023	5,542	262	274	176	22.4	28.1	Nov 13, 2023	J-GAAP
Apr - Sep, 2024	6,395	319	352	241	30.5	31.7	Nov 11, 2024	J-GAAP
YoY	+15.4%	+21.8%	+28.5%	+36.9%	+36.4%

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	6,348	379	385	250	31.6	0	May 13, 2024	J-GAAP
Apr - Sep, 2024 Results	6,395	319	352	241	30.5	0	Nov 11, 2024	J-GAAP
Revision Rate	+0.7%	-15.8%	-8.6%	-3.6%	-3.5%

Guidance Update

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	13,500	1,100	1,112	711	89.9	27	May 13, 2024	J-GAAP
Mar, 2025 New	13,500	1,100	1,112	711	89.9	29.50	Nov 11, 2024	J-GAAP
Revision Rate	0.0%	0.0%	0.0%	0.0%	0.0%

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	7,015	702	701	463	58.7	24.50	May 13, 2024	J-GAAP
Oct - Mar, 2024 Guidance	7,105	781	760	470	59.5	29.50	Nov 11, 2024	J-GAAP
YoY	+1.3%	+11.3%	+8.4%	+1.5%	+1.2%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	11,355	846	874	559	71.0	21	May 15, 2023	J-GAAP
Mar, 2024	12,557	964	975	639	81.0	24.50	May 13, 2024	J-GAAP
Mar, 2025 Guidance	13,500	1,100	1,112	711	89.9	29.50	Nov 11, 2024	J-GAAP
YoY	+7.5%	+14.1%	+14.1%	+11.3%	+11.0%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	2,752	119	128	84	10.7	4.3	Nov 13, 2023	J-GAAP
Oct - Dec, 2023	3,579	434	443	303	38.5	12.1	Feb 13, 2024	J-GAAP
Jan - Mar, 2024	3,436	268	258	160	20.3	7.8	May 13, 2024	J-GAAP
Apr - Jun, 2024	3,280	190	205	138	17.5	5.8	Aug 13, 2024	J-GAAP
Jul - Sep, 2024	3,115	129	147	103	13.0	4.1	Nov 11, 2024	J-GAAP
YoY	+13.2%	+8.4%	+14.8%	+22.6%	+22.1%