ESPEC CORP., First Half Ordinary Profit Increases by 35%, July-September Ordinary Profit Increases by 45%

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Tue Nov 12, 2024 3:00 pm JST Earnings

6859 ESPEC CORP. 【J-GAAP】

Earnings Report

ESPEC CORP. <6859> [TSE-P] announced its financial results in the afternoon session on November 12th (15:00). 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 34.5% compared to the same period last year. The progress rate against the 7.2 billion yen full-year plan was 47.2%, exceeding the five-year average of 32.3%.

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 decrease by 13.5% from the same period last year to 3.8 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit increased by 44.6% from the same period last year, reaching 2.28 billion yen. The operating profit margin jumped from 10.3% in the same period last year to 14.2%.

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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	22,945	1,395	1,731	984	44.0	37.1	Nov 11, 2022	J-GAAP
Apr - Sep, 2023	27,257	2,333	2,526	1,653	75.8	36.5	Nov 10, 2023	J-GAAP
Apr - Sep, 2024	30,464	3,296	3,398	2,452	112.3	47.2	Nov 12, 2024	J-GAAP
YoY	+11.8%	+41.3%	+34.5%	+48.3%	+48.3%

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	30,500	2,900	3,050	2,200	100.8	35	May 15, 2024	J-GAAP
Apr - Sep, 2024 Results	30,464	3,296	3,398	2,452	112.3	35	Nov 12, 2024	J-GAAP
Revision Rate	-0.1%	+13.7%	+11.4%	+11.5%	+11.5%

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	34,869	4,252	4,393	3,316	151.9	50	May 15, 2024	J-GAAP
Oct - Mar, 2024 Guidance	34,536	3,704	3,802	2,748	125.9	45	Nov 12, 2024	J-GAAP
YoY	-1.0%	-12.9%	-13.5%	-17.1%	-17.1%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	52,892	4,366	4,664	3,330	150.3	69	May 12, 2023	J-GAAP
Mar, 2024	62,126	6,585	6,919	4,969	227.6	75	May 15, 2024	J-GAAP
Mar, 2025 Guidance	65,000	7,000	7,200	5,200	238.2	80	May 15, 2024	J-GAAP
YoY	+4.6%	+6.3%	+4.1%	+4.6%	+4.6%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	14,982	1,544	1,579	1,088	49.9	10.3	Nov 10, 2023	J-GAAP
Oct - Dec, 2023	14,932	1,878	1,921	1,432	65.6	12.6	Feb 13, 2024	J-GAAP
Jan - Mar, 2024	19,937	2,374	2,472	1,884	86.3	11.9	May 15, 2024	J-GAAP
Apr - Jun, 2024	13,691	922	1,114	756	34.7	6.7	Aug 8, 2024	J-GAAP
Jul - Sep, 2024	16,773	2,374	2,284	1,696	77.7	14.2	Nov 12, 2024	J-GAAP
YoY	+12.0%	+53.8%	+44.6%	+55.9%	+55.8%