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MEC COMPANY LTD., January-September (Third Quarter Cumulative) Ordinary Profit Increases by 97%

Mon Nov 11, 2024 3:30 pm JST Earnings

4971 MEC COMPANY LTD. 【J-GAAP】

Earnings Report

MEC COMPANY LTD. <4971> [TSE-P] 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) expanded to 3.7 billion yen, an increase of 97.0% compared to the same period last year. However, The progress rate against the 5.2 billion yen full-year plan was 71.2%, also falling below the five-year average of 77.3%.

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 expand by 86.3% from the same period last year, reaching 1.5 billion yen.

In the most recent three-month period, from July to September (3Q), the consolidated ordinary profit grew by 21.0% from the same period last year, reaching 1.05 billion yen. The operating profit margin rose from 22.0% in the same period last year to 26.8%.

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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 12,364 3,118 3,438 2,382 125.4 81.0 Nov 10, 2022 J-GAAP
Jan - Sep, 2023 9,981 1,671 1,878 1,707 90.4 70.0 Nov 10, 2023 J-GAAP
Jan - Sep, 2024 13,682 3,649 3,700 2,627 140.3 71.2 Nov 11, 2024 J-GAAP
YoY +37.1% +118.4% +97.0% +53.9% +55.2%

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 7,822 1,654 1,680 1,228 65.2 25 Feb 14, 2024 J-GAAP
Jul - Dec, 2024 Guidance 9,618 2,538 2,559 1,710 91.3 25 Aug 8, 2024 J-GAAP
YoY +23.0% +53.4% +52.3% +39.3% +40.1%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Dec, 2022 16,329 4,004 4,246 3,064 161.2 45 Feb 14, 2023 J-GAAP
Dec, 2023 14,020 2,492 2,683 2,304 122.3 45 Feb 14, 2024 J-GAAP
Dec, 2024 Guidance 18,500 4,900 5,200 3,600 192.3 45 Aug 8, 2024 J-GAAP
YoY +32.0% +96.6% +93.8% +56.3% +57.2%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 3,783 833 875 631 33.4 22.0 Nov 10, 2023 J-GAAP
Oct - Dec, 2023 4,039 821 805 597 31.7 20.3 Feb 14, 2024 J-GAAP
Jan - Mar, 2024 4,354 1,053 1,132 779 41.6 24.2 May 10, 2024 J-GAAP
Apr - Jun, 2024 4,528 1,309 1,509 1,111 59.4 28.9 Aug 8, 2024 J-GAAP
Jul - Sep, 2024 4,800 1,287 1,059 737 39.4 26.8 Nov 11, 2024 J-GAAP
YoY +26.9% +54.5% +21.0% +16.8% +17.8%

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