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Iceco Inc., First Half Ordinary Profit Decreases by 5%, Exceeds Full-Year Plan

Wed Nov 13, 2024 3:30 pm JST Earnings

7698 Iceco Inc. 【J-GAAP】

Earnings Report

Iceco Inc. <7698> [TSE-S] announced its financial results after the market closed on November 13th (15:30). The ordinary profit (non-consolidated) for the cumulative second quarter of the fiscal year ending March 2025 (April to September) decreased by 4.6% from the same period last year to 587 million yen. The progress rate against the full-year plan of 550 million yen is 106.7%, but was lower than the the five-year average of 145.2%.

Based on the first-half performance announced by the company and the unchanged full-year plan, our calculation indicates that the ordinary loss for the October to March period (second half) is expected to further decrease to loss of 37 million yen (compared to a loss of 118 million yen in the same period last year).

In the most recent three-month period, from July to September (2Q), the ordinary profit decreased to 327 million yen, a 12.6% decrease compared to the same period last year. The operating profit margin worsened from 2.5% in the same period last year to 2.0%.

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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 23,708 304 331 213 56.0 184.9 Nov 14, 2022 J-GAAP
Apr - Sep, 2023 26,664 584 615 397 103.1 123.7 Nov 13, 2023 J-GAAP
Apr - Sep, 2024 29,120 551 587 382 98.2 106.7 Nov 13, 2024 J-GAAP
YoY +9.2% -5.7% -4.6% -3.8% -4.7%

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 9.50 May 13, 2024 J-GAAP
Apr - Sep, 2024 Results 29,120 551 587 382 98.2 9.50 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 23,834 -132 -118 -79 -20.5 9.50 May 13, 2024 J-GAAP
Oct - Mar, 2024 Guidance 24,880 -51 -37 -27 -6.9 9.50 Nov 13, 2024 J-GAAP
YoY +4.4% +61.4% +68.6% +65.8% +66.2%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 44,886 117 179 144 37.7 18.50 May 12, 2023 J-GAAP
Mar, 2024 50,498 452 497 318 82.3 19 May 13, 2024 J-GAAP
Mar, 2025 Guidance 54,000 500 550 355 90.9 19 May 13, 2024 J-GAAP
YoY +6.9% +10.6% +10.7% +11.6% +10.4%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 14,460 356 374 241 62.6 2.5 Nov 13, 2023 J-GAAP
Oct - Dec, 2023 12,248 -60 -48 -31 -8.0 -0.5 Feb 13, 2024 J-GAAP
Jan - Mar, 2024 11,586 -72 -70 -48 -12.4 -0.6 May 13, 2024 J-GAAP
Apr - Jun, 2024 13,648 241 260 169 43.7 1.8 Aug 13, 2024 J-GAAP
Jul - Sep, 2024 15,472 310 327 213 54.8 2.0 Nov 13, 2024 J-GAAP
YoY +7.0% -12.9% -12.6% -11.6% -12.5%

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