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FFRI Security, Inc., First Half Ordinary Profit Turns to Loss, July-September Ordinary Profit Turns to Loss

Wed Nov 13, 2024 3:30 pm JST Earnings

3692 FFRI Security, Inc. 【J-GAAP】

Earnings Report

FFRI Security, Inc. <3692> [TSE-G] announced its financial results after the market closed on November 13th (15:30). 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 28 million yen (compared to a profit of 63 million yen in the same period last year).

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 grow by 19.3% from the same period last year, reaching 569 million yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit/loss turned to a loss of 25 million yen (compared to a profit of 97 million yen in the same period last year). The operating profit/loss margin drastically worsened from 13.6% in the same period last year to -2.9%.

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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 796 -48 -34 -27 -3.4 Nov 11, 2022 J-GAAP
Apr - Sep, 2023 952 52 63 44 5.6 11.7 Nov 13, 2023 J-GAAP
Apr - Sep, 2024 1,044 -13 -28 -33 -4.2 Nov 13, 2024 J-GAAP
YoY +9.7%

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 0 May 14, 2024 J-GAAP
Apr - Sep, 2024 Results 1,044 -13 -28 -33 -4.2 0 Nov 13, 2024 J-GAAP
Revision Rate

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 1,494 445 477 388 49.1 10 May 14, 2024 J-GAAP
Oct - Mar, 2024 Guidance 2,114 528 569 466 58.9 10 Nov 13, 2024 J-GAAP
YoY +41.5% +18.7% +19.3% +20.1% +20.1%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 1,952 202 247 187 23.6 0 May 15, 2023 J-GAAP
Mar, 2024 2,446 497 540 432 54.6 10 May 14, 2024 J-GAAP
Mar, 2025 Guidance 3,158 515 541 433 54.7 10 May 14, 2024 J-GAAP
YoY +29.1% +3.6% +0.2% +0.2% +0.2%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 523 71 97 76 9.7 13.6 Nov 13, 2023 J-GAAP
Oct - Dec, 2023 704 175 177 130 16.5 24.9 Feb 13, 2024 J-GAAP
Jan - Mar, 2024 790 270 300 258 32.6 34.2 May 14, 2024 J-GAAP
Apr - Jun, 2024 526 2 -3 -8 -1.0 0.4 Aug 13, 2024 J-GAAP
Jul - Sep, 2024 518 -15 -25 -25 -3.2 -2.9 Nov 13, 2024 J-GAAP
YoY -1.0%

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