Immuno-Biological Laboratories Co., Ltd., First Half Ordinary Profit Increases by 2.1 times

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Mon Nov 11, 2024 3:30 pm JST Earnings

4570 Immuno-Biological Laboratories Co., Ltd. 【J-GAAP】

Earnings Report

Immuno-Biological Laboratories Co., Ltd. <4570> [TSE-G] 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) surged by 2.1 times that of the same period last year, reaching 64 million yen. The progress rate against the 120 million yen full-year plan was 53.3%, also surpassing the progress rate of 24.0% from the same period of the previous year.

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 drop by 41.1% from the same period last year to 56 million yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit significantly dropped to 8 million yen, a 52.9% decrease compared to the same period last year. However, the operating profit margin improved from 6.9% in the same period last year to 7.9%.

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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	293	-54	-129	-136	-14.6	ー	Nov 4, 2022	J-GAAP
Apr - Sep, 2023	365	13	30	26	2.9	24.0	Nov 2, 2023	J-GAAP
Apr - Sep, 2024	444	68	64	71	7.7	53.3	Nov 11, 2024	J-GAAP
YoY	+21.6%	+423.1%	+113.3%	+173.1%	+166.7%

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	ー	ー	ー	ー	－	0	May 14, 2024	J-GAAP
Apr - Sep, 2024 Results	444	68	64	71	7.7	0	Nov 11, 2024	J-GAAP
Revision Rate	－	－	－	－	－

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	451	91	95	160	17.3	0	May 14, 2024	J-GAAP
Oct - Mar, 2024 Guidance	481	52	56	44	4.7	0	Nov 11, 2024	J-GAAP
YoY	+6.7%	-42.9%	-41.1%	-72.5%	-72.6%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	794	57	-149	-289	-31.1	0	May 12, 2023	J-GAAP
Mar, 2024	816	104	125	186	20.1	0	May 14, 2024	J-GAAP
Mar, 2025 Guidance	925	120	120	115	12.4	0	May 14, 2024	J-GAAP
YoY	+13.4%	+15.4%	-4.0%	-38.2%	-38.4%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	188	13	17	15	1.7	6.9	Nov 2, 2023	J-GAAP
Oct - Dec, 2023	183	-3	-5	-6	-0.7	-1.6	Feb 2, 2024	J-GAAP
Jan - Mar, 2024	268	94	100	166	17.9	35.1	May 14, 2024	J-GAAP
Apr - Jun, 2024	229	51	56	51	5.5	22.3	Aug 8, 2024	J-GAAP
Jul - Sep, 2024	215	17	8	20	2.2	7.9	Nov 11, 2024	J-GAAP
YoY	+14.4%	+30.8%	-52.9%	+33.3%	+30.1%