SRE Holdings Corporation, First Half Ordinary Profit Increases by 2.2 times, July-September Ordinary Profit Increases by 4%

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Mon Nov 11, 2024 3:30 pm JST Earnings

2980 SRE Holdings Corporation 【J-GAAP】

Earnings Report

SRE Holdings Corporation <2980> [TSE-P] 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 2.2 times that of the same period last year, reaching 1.19 billion yen. The progress rate against the 2.9 billion yen full-year plan was 41.2%, exceeding the five-year average of 30.8%.

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 11.9% from the same period last year, reaching 1.7 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit grew by 3.5% from the same period last year, reaching 380 million yen. However, the operating profit margin significantly dropped from 12.6% in the same period last year to 8.6%.

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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	6,517	761	693	640	41.1	45.0	Oct 31, 2022	J-GAAP
Apr - Sep, 2023	7,500	608	534	368	22.8	25.9	Oct 31, 2023	J-GAAP
Apr - Sep, 2024	10,152	1,289	1,195	663	41.2	41.2	Nov 11, 2024	J-GAAP
YoY	+35.4%	+112.0%	+123.8%	+80.2%	+81.2%

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	10,152	1,289	1,195	663	41.2	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	16,718	1,604	1,524	1,020	63.1	0	May 14, 2024	J-GAAP
Oct - Mar, 2024 Guidance	16,848	1,761	1,705	1,187	73.7	0	Nov 11, 2024	J-GAAP
YoY	+0.8%	+9.8%	+11.9%	+16.4%	+16.9%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	18,541	1,686	1,540	1,148	71.1	0	May 10, 2023	J-GAAP
Mar, 2024	24,218	2,212	2,058	1,388	85.8	0	May 14, 2024	J-GAAP
Mar, 2025 Guidance	27,000	3,050	2,900	1,850	114.9	0	May 14, 2024	J-GAAP
YoY	+11.5%	+37.9%	+40.9%	+33.3%	+33.9%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	3,210	406	367	235	14.5	12.6	Oct 31, 2023	J-GAAP
Oct - Dec, 2023	5,297	902	859	564	34.9	17.0	Jan 29, 2024	J-GAAP
Jan - Mar, 2024	11,421	702	665	456	28.2	6.1	May 14, 2024	J-GAAP
Apr - Jun, 2024	5,067	851	815	497	30.9	16.8	Aug 6, 2024	J-GAAP
Jul - Sep, 2024	5,085	438	380	166	10.3	8.6	Nov 11, 2024	J-GAAP
YoY	+58.4%	+7.9%	+3.5%	-29.4%	-28.9%