CHIMNEY CO., LTD., First Half Ordinary Profit Decreases by 27%, July-September Ordinary Profit Decreases by 76%

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Tue Nov 12, 2024 3:30 pm JST Earnings

3178 CHIMNEY CO., LTD. 【J-GAAP】

Earnings Report

CHIMNEY CO., LTD. <3178> [TSE-S] announced its financial results after the market closed on November 12th (15:30). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) decreased by 27.0% from the same period last year to 360 million yen. The progress rate against the 1.3 billion yen full-year plan was 27.7%, also falling below the same period of the previous year of 34.1%.

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 1.4% from the same period last year to 940 million yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit significantly dropped to 63 million yen, a 76.0% decrease compared to the same period last year. The operating profit margin worsened from 3.6% in the same period last year to 0.8%.

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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	8,803	-1,489	-1,472	-1,583	-82.1	ー	Nov 10, 2022	J-GAAP
Apr - Sep, 2023	12,345	418	493	207	10.8	34.1	Nov 9, 2023	J-GAAP
Apr - Sep, 2024	12,759	316	360	176	9.2	27.7	Nov 12, 2024	J-GAAP
YoY	+3.4%	-24.4%	-27.0%	-15.0%	-14.7%

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	12,750	310	360	170	8.8	5	Oct 31, 2024	J-GAAP
Apr - Sep, 2024 Results	12,759	316	360	176	9.2	5	Nov 12, 2024	J-GAAP
Revision Rate	+0.1%	+1.9%	0.0%	+3.5%	+4.1%

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	13,380	882	953	731	37.9	5	May 14, 2024	J-GAAP
Oct - Mar, 2024 Guidance	13,541	844	940	664	34.4	5	Nov 12, 2024	J-GAAP
YoY	+1.2%	-4.3%	-1.4%	-9.2%	-9.2%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	20,155	-1,667	-1,635	-2,016	-104.5	0	May 11, 2023	J-GAAP
Mar, 2024	25,725	1,300	1,446	938	48.7	5	May 14, 2024	J-GAAP
Mar, 2025 Guidance	26,300	1,160	1,300	840	43.5	10	Oct 31, 2024	J-GAAP
YoY	+2.2%	-10.8%	-10.1%	-10.4%	-10.5%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	6,277	227	262	61	3.2	3.6	Nov 9, 2023	J-GAAP
Oct - Dec, 2023	6,945	595	636	548	28.4	8.6	Feb 8, 2024	J-GAAP
Jan - Mar, 2024	6,435	287	317	183	9.5	4.5	May 14, 2024	J-GAAP
Apr - Jun, 2024	6,453	265	297	290	15.1	4.1	Aug 8, 2024	J-GAAP
Jul - Sep, 2024	6,306	51	63	-114	-5.9	0.8	Nov 12, 2024	J-GAAP
YoY	+0.5%	-77.5%	-76.0%	－	－