MODEC,INC., January-September (Third Quarter Cumulative) Net Income Increases by 4.5 times, July-September Net Income Increases by 2.3 times

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Tue Nov 12, 2024 12:00 pm JST Earnings

6269 MODEC,INC. 【IFRS】

Earnings Report

MODEC,INC. <6269> [TSE-P] announced its financial results (based on IFRS) at noon (12:00) on November 12th. The consolidated net income for the cumulative third quarter of the fiscal year ending December 2024 (January to September) surged by 4.5 times that of the same period last year, reaching 24.4 billion yen. The progress rate against the 29 billion yen full-year plan was 84.2%, also surpassing the progress rate of 39.2% from the same period of the previous year.

Based on the third-quarter cumulative performance announced by the company and the unchanged full-year plan, our calculation indicates that the consolidated net income for the October to December period (4Q) is expected to drop by 44.8% from the same period last year to 4.59 billion yen.

In the most recent three-month period, from July to September (3Q), the consolidated net income surged to 2.3 times that of the same period last year, reaching 4.45 billion yen. The operating profit margin improved from 4.3% in the same period last year to 5.1%.

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Actual Results

Accumulated Results 3rd Quarter

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Progress Rate vs. First Half	Announce	Accounting Standards
Jan - Sep, 2022	288,349	5,968	4,480	1,883	33.4	61.6	Nov 9, 2022	IFRS
Jan - Sep, 2023	371,801	13,213	14,099	5,370	88.9	46.3	Nov 9, 2023	IFRS
Jan - Sep, 2024	427,705	36,485	35,722	24,424	357.6	84.9	Nov 12, 2024	IFRS
YoY	+15.0%	+176.1%	+153.4%	+354.8%	+302.4%

Current Period Guidance

Second Half Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Jul - Dec, 2023	276,693	20,207	22,489	10,242	164.1	20	Feb 14, 2024	IFRS
Jul - Dec, 2024 Guidance	321,557	12,013	12,802	9,050	132.5	30	Aug 8, 2024	IFRS
YoY	+16.2%	-40.6%	-43.1%	-11.6%	-19.3%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Dec, 2022	363,593	9,997	7,277	4,960	88.0	0	Feb 14, 2023	IFRS
Dec, 2023	507,031	27,364	30,446	13,691	219.4	20	Feb 14, 2024	IFRS
Dec, 2024 Guidance	623,930	42,079	42,079	29,020	424.9	60	Aug 8, 2024	IFRS
YoY	+23.1%	+53.8%	+38.2%	+112.0%	+93.7%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	141,463	6,056	6,142	1,921	31.8	4.3	Nov 9, 2023	IFRS
Oct - Dec, 2023	135,230	14,151	16,347	8,321	133.3	10.5	Feb 14, 2024	IFRS
Jan - Mar, 2024	124,524	11,622	12,426	9,463	138.5	9.3	May 14, 2024	IFRS
Apr - Jun, 2024	177,849	18,444	16,851	10,507	153.8	10.4	Aug 8, 2024	IFRS
Jul - Sep, 2024	125,332	6,419	6,445	4,454	65.2	5.1	Nov 12, 2024	IFRS
YoY	-11.4%	+6.0%	+4.9%	+131.9%	+105.1%