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VALOR HOLDINGS CO.,LTD., First Half Ordinary Profit Revised Downward to an Unexpected 3%Decrease

Tue Nov 12, 2024 1:00 pm JST Earnings

9956 VALOR HOLDINGS CO.,LTD. 【J-GAAP】

Earnings Report

VALOR HOLDINGS CO.,LTD. <9956> [TSE-P] announced its financial results in the afternoon session on November 12th (13:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) decreased by 3.4% from the same period last year to 12.2 billion yen, resulting in a decrease in profits compared to the previous forecast of a 2.0% increase.

The progress rate against the 26.4 billion yen full-year plan was 46.2%, also falling below the five-year average of 53.2%.

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 grow by 9.5% from the same period last year, reaching 14.1 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit amounted to 6.32 billion yen, a 1.2% decrease compared to the same period last year. The operating profit margin remained almost flat, changing from 2.7% in the same period last year to 2.4%.

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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 374,661 9,567 11,106 5,736 106.8 48.2 Nov 11, 2022 J-GAAP
Apr - Sep, 2023 399,140 11,142 12,643 6,627 123.8 49.4 Nov 10, 2023 J-GAAP
Apr - Sep, 2024 422,016 10,434 12,209 6,736 126.3 46.2 Nov 12, 2024 J-GAAP
YoY +5.7% -6.4% -3.4% +1.6% +2.1%

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 415,000 11,500 12,900 6,800 129.1 29 May 14, 2024 J-GAAP
Apr - Sep, 2024 Results 422,016 10,434 12,209 6,736 126.3 29 Nov 12, 2024 J-GAAP
Revision Rate +1.7% -9.3% -5.4% -0.9% -2.1%

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 408,655 11,702 12,961 5,318 99.3 37 May 14, 2024 J-GAAP
Oct - Mar, 2024 Guidance 417,984 13,066 14,191 5,564 105.6 39 Nov 12, 2024 J-GAAP
YoY +2.3% +11.7% +9.5% +4.6% +6.4%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 759,977 20,062 23,049 7,603 141.6 58 May 12, 2023 J-GAAP
Mar, 2024 807,795 22,844 25,604 11,945 223.0 65 May 14, 2024 J-GAAP
Mar, 2025 Guidance 840,000 23,500 26,400 12,300 233.5 68 May 14, 2024 J-GAAP
YoY +4.0% +2.9% +3.1% +3.0% +4.7%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 202,870 5,520 6,398 3,174 59.3 2.7 Nov 10, 2023 J-GAAP
Oct - Dec, 2023 211,435 7,220 7,944 4,561 85.2 3.4 Feb 9, 2024 J-GAAP
Jan - Mar, 2024 197,220 4,482 5,017 757 14.1 2.3 May 14, 2024 J-GAAP
Apr - Jun, 2024 207,450 5,197 5,886 3,287 61.4 2.5 Aug 9, 2024 J-GAAP
Jul - Sep, 2024 214,566 5,237 6,323 3,449 64.7 2.4 Nov 12, 2024 J-GAAP
YoY +5.8% -5.1% -1.2% +8.7% +9.1%

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