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

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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%