INFRONEER Holdings Inc., First Half Net Income Decreases by 50%, July-September Net Income Decreases by 50%

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Tue Nov 12, 2024 10:00 am JST Earnings

5076 INFRONEER Holdings Inc. 【J-GAAP】

Earnings Report

INFRONEER Holdings Inc. <5076> [TSE-P] announced its financial results (based on IFRS) in the morning on November 12th (10:00). The consolidated net income for the cumulative second quarter of the fiscal year ending March 2025 (April to September) significantly dropped by 50.4% from the same period last year to 8.1 billion yen. The progress rate against the 38.4 billion yen full-year plan was 21.1%, also falling below the same period of the previous year of 50.1%.

Based on the first-half performance announced by the company and the unchanged full-year plan, our calculation indicates that the consolidated net income for the October to March period (second half) is expected to expand by 86.5% from the same period last year, reaching 30.2 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated net income significantly dropped to 5.31 billion yen, a 50.1% decrease compared to the same period last year. The operating profit margin worsened from 8.3% in the same period last year to 5.4%.

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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	313,490	14,693	16,047	13,292	50.7	38.4	Nov 11, 2022	J-GAAP
Apr - Sep, 2023	358,832	23,788	24,318	16,328	64.9	49.2	Nov 10, 2023	IFRS
Apr - Sep, 2024	380,739	14,346	12,898	8,105	31.1	22.7	Nov 12, 2024	IFRS
YoY	+6.1%	-39.7%	-47.0%	-50.4%	-52.1%

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	－	30	May 15, 2024	IFRS
Apr - Sep, 2024 Results	380,739	14,346	12,898	8,105	31.1	30	Nov 12, 2024	IFRS
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	434,432	27,272	25,121	16,243	65.1	35	May 15, 2024	IFRS
Oct - Mar, 2024 Guidance	459,161	44,654	43,802	30,295	122.2	30	Nov 12, 2024	IFRS
YoY	+5.7%	+63.7%	+74.4%	+86.5%	+87.8%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	709,641	40,495	41,768	35,870	138.4	55	May 11, 2023	J-GAAP
Mar, 2024	793,264	51,060	49,439	32,571	130.5	60	May 15, 2024	IFRS
Mar, 2025 Guidance	839,900	59,000	56,700	38,400	154.9	60	May 15, 2024	IFRS
YoY	+5.9%	+15.6%	+14.7%	+17.9%	+18.7%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	195,272	16,189	15,866	10,642	42.3	8.3	Nov 10, 2023	IFRS
Oct - Dec, 2023	208,276	14,381	14,916	10,608	42.3	6.9	Feb 9, 2024	J-GAAP
Jan - Mar, 2024	231,864	16,762	13,635	8,422	33.8	7.2	May 15, 2024	IFRS
Apr - Jun, 2024	178,344	3,435	3,628	2,792	11.3	1.9	Aug 9, 2024	IFRS
Jul - Sep, 2024	202,395	10,911	9,270	5,313	20.4	5.4	Nov 12, 2024	IFRS
YoY	+3.6%	-32.6%	-41.6%	-50.1%	-51.8%