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COVER Corporation, First Half Ordinary Profit Increases by 43%, July-September Ordinary Profit Increases by 69%

Tue Nov 12, 2024 3:30 pm JST Earnings

5253 COVER Corporation 【J-GAAP】

Earnings Report

COVER Corporation <5253> [TSE-G] announced its financial results after the market closed on November 12th (15:30). The ordinary profit (non-consolidated) for the cumulative second quarter of the fiscal year ending March 2025 (April to September) expanded to 3.3 billion yen, an increase of 42.8% compared to the same period last year. The progress rate against the 7.3 billion yen full-year plan was 45.2%, exceeding the same period of the previous year of 41.1%.

Based on the first-half performance announced by the company and the unchanged full-year plan, our calculation indicates that the ordinary profit for the October to March period (second half) is expected to grow by 20.7% from the same period last year, reaching 3.99 billion yen.

In the most recent three-month period, from July to September (2Q), the ordinary profit increased by 68.7% from the same period last year, reaching 2.38 billion yen. The operating profit margin rose from 19.8% in the same period last year to 23.7%.

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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, 2023 12,276 2,304 2,311 1,657 27.1 41.1 Nov 9, 2023 J-GAAP
Apr - Sep, 2024 17,104 3,372 3,301 2,120 34.2 45.2 Nov 12, 2024 J-GAAP
YoY +39.3% +46.4% +42.8% +27.9% +26.2%

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 16,500 3,170 3,100 1,900 30.7 0 Oct 29, 2024 J-GAAP
Apr - Sep, 2024 Results 17,104 3,372 3,301 2,120 34.2 0 Nov 12, 2024 J-GAAP
Revision Rate +3.7% +6.4% +6.5% +11.6% +11.6%

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 17,890 3,232 3,312 2,480 40.6 0 May 13, 2024 J-GAAP
Oct - Mar, 2024 Guidance 19,377 3,928 3,999 2,944 44.9 0 Nov 12, 2024 J-GAAP
YoY +8.3% +21.5% +20.7% +18.7% +10.5%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 20,451 3,417 3,385 2,508 42.0 0 May 12, 2023 J-GAAP
Mar, 2024 30,166 5,536 5,623 4,137 67.7 0 May 13, 2024 J-GAAP
Mar, 2025 Guidance 36,481 7,300 7,300 5,064 77.1 0 May 13, 2024 J-GAAP
YoY +20.9% +31.9% +29.8% +22.4% +14.0%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 7,134 1,409 1,413 1,036 17.0 19.8 Nov 9, 2023 J-GAAP
Oct - Dec, 2023 6,949 1,187 1,165 968 15.8 17.1 Feb 8, 2024 J-GAAP
Jan - Mar, 2024 10,941 2,045 2,147 1,512 24.7 18.7 May 13, 2024 J-GAAP
Apr - Jun, 2024 6,416 834 917 620 10.0 13.0 Aug 8, 2024 J-GAAP
Jul - Sep, 2024 10,688 2,538 2,384 1,500 24.2 23.7 Nov 12, 2024 J-GAAP
YoY +49.8% +80.1% +68.7% +44.8% +42.8%

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