ASTI CORPORATION, First Half Ordinary Profit Decreases by 80%, July-September Ordinary Profit Turns to Loss

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Mon Nov 11, 2024 4:00 pm JST Earnings

6899 ASTI CORPORATION 【J-GAAP】

Earnings Report

ASTI CORPORATION <6899> [TSE-S] announced its financial results after the market closed on November 11th (16:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) significantly dropped by 80.3% from the same period last year to 356 million yen. The progress rate against the 800 million yen full-year plan was 44.5%, also falling below the five-year average of 57.2%.

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 significant drop by 65.3% from the same period last year to 444 million yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit/loss turned to a loss of 197 million yen (compared to a profit of 624 million yen in the same period last year). The operating profit margin worsened from 3.2% in the same period last year to 2.1%.

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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	33,907	1,040	1,570	1,109	354.8	74.9	Nov 9, 2022	J-GAAP
Apr - Sep, 2023	30,202	1,152	1,803	1,507	482.2	58.5	Nov 9, 2023	J-GAAP
Apr - Sep, 2024	30,533	533	356	160	51.3	44.5	Nov 11, 2024	J-GAAP
YoY	+1.1%	-53.7%	-80.3%	-89.4%	-89.4%

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	30,000	550	400	250	80.0	0	Sep 27, 2024	J-GAAP
Apr - Sep, 2024 Results	30,533	533	356	160	51.3	0	Nov 11, 2024	J-GAAP
Revision Rate	+1.8%	-3.1%	-11.0%	-36.0%	-35.8%

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	33,405	1,082	1,278	1,188	380.1	150	May 14, 2024	J-GAAP
Oct - Mar, 2024 Guidance	30,467	767	444	340	108.8	50	Nov 11, 2024	J-GAAP
YoY	-8.8%	-29.1%	-65.3%	-71.4%	-71.4%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	64,883	1,894	2,095	1,512	483.9	90	May 15, 2023	J-GAAP
Mar, 2024	63,607	2,234	3,081	2,695	862.3	150	May 14, 2024	J-GAAP
Mar, 2025 Guidance	61,000	1,300	800	500	160.0	50	Sep 27, 2024	J-GAAP
YoY	-4.1%	-41.8%	-74.0%	-81.4%	-81.4%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	15,172	490	624	514	164.5	3.2	Nov 9, 2023	J-GAAP
Oct - Dec, 2023	16,867	816	590	371	118.7	4.8	Feb 9, 2024	J-GAAP
Jan - Mar, 2024	16,538	266	688	817	261.4	1.6	May 14, 2024	J-GAAP
Apr - Jun, 2024	14,886	209	553	433	138.6	1.4	Aug 9, 2024	J-GAAP
Jul - Sep, 2024	15,647	324	-197	-273	-87.6	2.1	Nov 11, 2024	J-GAAP
YoY	+3.1%	-33.9%	－	－	－