Powdertech Co., Ltd., First Half Ordinary Profit Decreases by 49%

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Mon Nov 11, 2024 4:00 pm JST Earnings

5695 Powdertech Co., Ltd. 【J-GAAP】

Earnings Report

Powdertech Co., Ltd. <5695> [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) dropped by 48.5% from the same period last year to 156 million yen, fell short of the previous forecast of 240 million yen.

The progress rate against the 510 million yen full-year plan was 30.6%, also falling below the five-year average of 57.8%.

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 surge by 2.0 times that of the same period last year, reaching 354 million yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit significantly dropped to 17 million yen, a 85.5% decrease compared to the same period last year. The operating profit margin drastically worsened from 5.7% in the same period last year to 1.6%.

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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	4,623	454	493	356	123.0	66.5	Nov 7, 2022	J-GAAP
Apr - Sep, 2023	4,266	283	303	204	70.6	63.4	Nov 13, 2023	J-GAAP
Apr - Sep, 2024	4,492	155	156	98	34.0	30.6	Nov 11, 2024	J-GAAP
YoY	+5.3%	-45.2%	-48.5%	-52.0%	-51.8%

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	4,100	210	240	170	58.6	0	May 15, 2024	J-GAAP
Apr - Sep, 2024 Results	4,492	155	156	98	34.0	0	Nov 11, 2024	J-GAAP
Revision Rate	+9.6%	-26.2%	-35.0%	-42.4%	-41.9%

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	4,282	123	175	76	26.3	90	May 15, 2024	J-GAAP
Oct - Mar, 2024 Guidance	4,338	305	354	272	93.7	100	Nov 11, 2024	J-GAAP
YoY	+1.3%	+148.0%	+102.3%	+257.9%	+256.4%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	8,834	700	741	544	187.8	80	May 15, 2023	J-GAAP
Mar, 2024	8,548	406	478	280	96.8	90	May 15, 2024	J-GAAP
Mar, 2025 Guidance	8,830	460	510	370	127.5	100	May 15, 2024	J-GAAP
YoY	+3.3%	+13.3%	+6.7%	+32.1%	+31.6%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	1,972	112	117	78	27.0	5.7	Nov 13, 2023	J-GAAP
Oct - Dec, 2023	2,146	53	82	37	12.8	2.5	Feb 13, 2024	J-GAAP
Jan - Mar, 2024	2,136	70	93	39	13.5	3.3	May 15, 2024	J-GAAP
Apr - Jun, 2024	2,336	120	139	91	31.6	5.1	Aug 8, 2024	J-GAAP
Jul - Sep, 2024	2,156	35	17	7	2.4	1.6	Nov 11, 2024	J-GAAP
YoY	+9.3%	-68.8%	-85.5%	-91.0%	-91.0%