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CTI Engineering Co.,Ltd., January-September (Third Quarter Cumulative) Ordinary Profit Decreases by 12%, July-September Ordinary Profit Decreases by 51%

Tue Nov 12, 2024 3:30 pm JST Earnings

9621 CTI Engineering Co.,Ltd. 【J-GAAP】

Earnings Report

CTI Engineering Co.,Ltd. <9621> [TSE-P] announced its financial results after the market closed on November 12th (15:30). The consolidated ordinary profit for the cumulative third quarter of the fiscal year ending December 2024 (January to September) decreased by 12.1% from the same period last year to 7.42 billion yen. However, The progress rate against the 9.7 billion yen full-year plan was 76.5%, almost the same as the five-year average of 77.9%.

Based on the third-quarter cumulative performance announced by the company and the unchanged full-year plan, our calculation indicates that the consolidated ordinary profit for the October to December period (4Q) is expected to expand by 32.9% from the same period last year, reaching 2.27 billion yen.

In the most recent three-month period, from July to September (3Q), the consolidated ordinary profit significantly dropped to 568 million yen, a 50.7% decrease compared to the same period last year. The operating profit margin worsened from 5.4% in the same period last year to 2.9%.

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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 61,446 6,513 6,689 4,516 159.7 81.2 Nov 10, 2022 J-GAAP
Jan - Sep, 2023 69,015 8,331 8,438 6,122 220.1 83.1 Nov 10, 2023 J-GAAP
Jan - Sep, 2024 72,197 7,419 7,421 5,266 189.8 76.5 Nov 12, 2024 J-GAAP
YoY +4.6% -10.9% -12.1% -14.0% -13.7%

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 45,434 2,845 2,866 2,245 80.8 75 Mar 26, 2024 J-GAAP
Jul - Dec, 2024 Guidance 46,254 2,811 2,847 2,017 72.7 75 Aug 13, 2024 J-GAAP
YoY +1.8% -1.2% -0.7% -10.2% -10.0%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Dec, 2022 83,485 8,017 8,235 5,874 207.8 50 Feb 14, 2023 J-GAAP
Dec, 2023 93,057 10,011 10,153 7,534 271.1 75 Mar 26, 2024 J-GAAP
Dec, 2024 Guidance 97,000 9,600 9,700 6,900 248.6 75 Aug 13, 2024 J-GAAP
YoY +4.2% -4.1% -4.5% -8.4% -8.3%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 21,392 1,165 1,151 833 30.0 5.4 Nov 10, 2023 J-GAAP
Oct - Dec, 2023 24,042 1,680 1,715 1,412 50.8 7.0 Mar 26, 2024 J-GAAP
Jan - Mar, 2024 29,189 6,107 6,104 4,437 160.0 20.9 May 13, 2024 J-GAAP
Apr - Jun, 2024 21,557 682 749 446 16.1 3.2 Aug 13, 2024 J-GAAP
Jul - Sep, 2024 21,451 630 568 383 13.8 2.9 Nov 12, 2024 J-GAAP
YoY +0.3% -45.9% -50.7% -54.0% -53.9%

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