NEW COSMOS ELECTRIC CO., LTD, First Half Ordinary Profit Increases by 40%, July-September Ordinary Profit Increases by 30%

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Mon Nov 11, 2024 4:00 pm JST Earnings

6824 NEW COSMOS ELECTRIC CO., LTD 【J-GAAP】

Earnings Report

NEW COSMOS ELECTRIC CO., LTD <6824> [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) expanded to 3.39 billion yen, an increase of 40.1% compared to the same period last year. The progress rate against the 4.15 billion yen full-year plan was 81.8%, also surpassing the five-year average of 46.0%.

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 68.3% from the same period last year to 756 million yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit grew by 29.6% from the same period last year, reaching 1.81 billion yen. The operating profit margin jumped from 12.0% in the same period last year to 19.1%.

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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	18,028	2,906	3,596	1,948	157.9	57.4	Nov 11, 2022	J-GAAP
Apr - Sep, 2023	18,206	1,920	2,422	1,215	98.5	50.4	Nov 13, 2023	J-GAAP
Apr - Sep, 2024	20,215	3,370	3,394	2,033	164.6	81.8	Nov 11, 2024	J-GAAP
YoY	+11.0%	+75.5%	+40.1%	+67.3%	+67.2%

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 15, 2024	J-GAAP
Apr - Sep, 2024 Results	20,215	3,370	3,394	2,033	164.6	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	20,340	2,166	2,387	1,744	141.2	48	May 15, 2024	J-GAAP
Oct - Mar, 2024 Guidance	21,446	730	756	347	28.1	48	Nov 11, 2024	J-GAAP
YoY	+5.4%	-66.3%	-68.3%	-80.1%	-80.1%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	37,206	5,693	6,269	3,736	302.8	47	May 15, 2023	J-GAAP
Mar, 2024	38,546	4,086	4,809	2,959	239.6	48	May 15, 2024	J-GAAP
Mar, 2025 Guidance	41,661	4,100	4,150	2,380	192.5	48	May 15, 2024	J-GAAP
YoY	+8.1%	+0.3%	-13.7%	-19.6%	-19.6%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	9,948	1,190	1,399	878	71.1	12.0	Nov 13, 2023	J-GAAP
Oct - Dec, 2023	9,797	1,342	1,301	829	67.1	13.7	Feb 13, 2024	J-GAAP
Jan - Mar, 2024	10,543	824	1,086	915	74.1	7.8	May 15, 2024	J-GAAP
Apr - Jun, 2024	9,446	1,317	1,581	800	64.8	13.9	Aug 9, 2024	J-GAAP
Jul - Sep, 2024	10,769	2,053	1,813	1,233	99.8	19.1	Nov 11, 2024	J-GAAP
YoY	+8.3%	+72.5%	+29.6%	+40.4%	+40.3%