TRANSGENIC GROUP INC., The Current Fiscal Year Ordinary Profit Revised Downward to a Loss, Dividend Dividend Also Turns to No Dividend

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Tue Nov 12, 2024 3:45 pm JST Earnings

2342 TRANSGENIC GROUP INC. 【J-GAAP】

Earnings Report

TRANSGENIC GROUP INC. <2342> [TSE-G] announced its financial results after the market closed on November 12th (15:45). The consolidated ordinary profit/loss for the cumulative second quarter of the fiscal year ending March 2025 (April to September) turned into a loss of 156 million yen (compared to a profit of 94 million yen in the same period last year).

In addition, the full-year consolidated ordinary profit/loss has been revised downward from an expected profit of 250 million yen to a loss of 180 million yen (compared to a profit of 108 million yen in the previous period), turning to a loss outlook.

Based on the first-half performance announced by the company and the full-year plan, our calculation indicates that the consolidated ordinary profit/loss for the October to March period (second half) is expected to turn into a loss of 24 million yen (compared to a profit of 14 million yen in the same period last year).

Due to a decline in performance, the plan to pay a year-end lump-sum dividend of 3 yen has been abandoned, and the policy has been set to forego dividends for the first time in five terms, falling to a no-dividend status (compared to 3 yen in the prior term).

In the most recent three-month period, from July to September (2Q), the consolidated ordinary loss expanded to a loss of 39 million yen (compared to a loss of 34 million yen in the same period last year). However, the operating profit/loss margin improved from -0.6% in the same period last year to -0.2%.

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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	5,542	134	204	54	3.3	102.5	Nov 11, 2022	J-GAAP
Apr - Sep, 2023	6,377	88	94	48	2.9	87.0	Nov 10, 2023	J-GAAP
Apr - Sep, 2024	6,311	-110	-156	-182	-11.0	ー	Nov 12, 2024	J-GAAP
YoY	-1.0%	－	－	－	－

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	ー	ー	ー	ー	－	0	May 10, 2024	J-GAAP
Apr - Sep, 2024 Results	6,311	-110	-156	-182	-11.0	0	Nov 12, 2024	J-GAAP
Revision Rate	－	－	－	－	－

Guidance Update

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	13,500	350	250	100	6.0	3	May 10, 2024	J-GAAP
Mar, 2025 New	12,500	-110	-180	-210	-12.6	0	Nov 12, 2024	J-GAAP
Revision Rate	-7.4%	－	－	－	－

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	6,706	1	14	-44	-2.6	3	May 10, 2024	J-GAAP
Oct - Mar, 2024 Guidance	6,189	0	-24	-28	-1.7	0	Nov 12, 2024	J-GAAP
YoY	-7.7%	－	－	+36.4%	+36.4%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	11,429	-25	199	-409	-24.3	5	May 12, 2023	J-GAAP
Mar, 2024	13,083	89	108	4	0.2	3	May 10, 2024	J-GAAP
Mar, 2025 Guidance	12,500	-110	-180	-210	-12.6	0	Nov 12, 2024	J-GAAP
YoY	-4.5%	－	－	－	－

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	3,097	-18	-34	-30	-1.8	-0.6	Nov 10, 2023	J-GAAP
Oct - Dec, 2023	3,366	-36	-44	-86	-5.1	-1.1	Feb 9, 2024	J-GAAP
Jan - Mar, 2024	3,340	37	58	42	2.5	1.1	May 10, 2024	J-GAAP
Apr - Jun, 2024	2,882	-103	-117	-99	-6.0	-3.6	Aug 9, 2024	J-GAAP
Jul - Sep, 2024	3,429	-7	-39	-83	-5.0	-0.2	Nov 12, 2024	J-GAAP
YoY	+10.7%	+61.1%	-14.7%	-176.7%	-179.3%