VT HOLDINGS CO.,LTD., July-September (2Q) Net Income Decreases by 9%

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Tue Nov 12, 2024 4:00 pm JST Earnings

7593 VT HOLDINGS CO.,LTD. 【IFRS】

Earnings Report

VT HOLDINGS CO.,LTD. <7593> [TSE-P] announced its financial results (based on IFRS) after the market closed on November 12th (16:00). The consolidated net income for the cumulative second quarter of the fiscal year ending March 2025 (April to September) was 3.22 billion yen, a 2.9% decrease compared to the same period last year. The progress rate against the 7 billion yen full-year plan was 46.1%, also falling below the five-year average of 64.7%.

Based on the first-half performance announced by the company and the unchanged full-year plan, our calculation indicates that the consolidated net income for the October to March period (second half) is expected to grow by 11.9% from the same period last year, reaching 3.77 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated net income decreased to 1.71 billion yen, a 9.2% decrease compared to the same period last year. The operating profit margin remained almost flat, changing from 4.2% in the same period last year to 4.0%.

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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	126,549	5,850	6,083	3,669	31.6	48.1	Nov 14, 2022	IFRS
Apr - Sep, 2023	145,047	5,729	5,718	3,324	28.4	49.9	Nov 14, 2023	IFRS
Apr - Sep, 2024	170,184	6,441	5,901	3,227	26.7	48.4	Nov 12, 2024	IFRS
YoY	+17.3%	+12.4%	+3.2%	-2.9%	-6.0%

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	160,000	5,700	5,400	3,000	24.8	12	May 15, 2024	IFRS
Apr - Sep, 2024 Results	170,184	6,441	5,901	3,227	26.7	12	Nov 12, 2024	IFRS
Revision Rate	+6.4%	+13.0%	+9.3%	+7.6%	+7.7%

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	166,557	6,279	5,740	3,373	28.6	12	May 15, 2024	IFRS
Oct - Mar, 2024 Guidance	159,816	6,559	6,299	3,773	31.2	12	Nov 12, 2024	IFRS
YoY	-4.0%	+4.5%	+9.7%	+11.9%	+8.9%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	266,329	12,856	12,646	7,180	61.9	23.50	May 15, 2023	IFRS
Mar, 2024	311,604	12,008	11,458	6,697	56.9	24	May 15, 2024	IFRS
Mar, 2025 Guidance	330,000	13,000	12,200	7,000	57.8	24	May 15, 2024	IFRS
YoY	+5.9%	+8.3%	+6.5%	+4.5%	+1.7%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	76,933	3,264	3,225	1,884	16.1	4.2	Nov 14, 2023	IFRS
Oct - Dec, 2023	77,132	3,460	3,001	2,019	17.2	4.5	Feb 14, 2024	IFRS
Jan - Mar, 2024	89,425	2,819	2,739	1,354	11.5	3.2	May 15, 2024	IFRS
Apr - Jun, 2024	84,814	2,987	2,876	1,516	12.6	3.5	Aug 9, 2024	IFRS
Jul - Sep, 2024	85,370	3,454	3,025	1,711	14.2	4.0	Nov 12, 2024	IFRS
YoY	+11.0%	+5.8%	-6.2%	-9.2%	-12.1%