SEC CARBON,LIMITED, First Half Ordinary Profit Decreases by 15%, July-September Ordinary Profit Decreases by 33%

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Wed Nov 13, 2024 3:30 pm JST Earnings

5304 SEC CARBON,LIMITED 【J-GAAP】

Earnings Report

SEC CARBON,LIMITED <5304> [TSE-S] announced its financial results after the market closed on November 13th (15:30). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) decreased by 14.7% from the same period last year to 4.81 billion yen. However, The progress rate against the 9 billion yen full-year plan was 53.5%, almost the same as the five-year average of 51.0%.

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 decrease by 29.2% from the same period last year to 4.18 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit dropped to 1.69 billion yen, a 32.7% decrease compared to the same period last year. The operating profit margin remained almost flat, changing from 27.7% in the same period last year to 27.6%.

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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	12,518	2,344	3,041	2,136	105.1	40.0	Nov 11, 2022	J-GAAP
Apr - Sep, 2023	16,791	4,868	5,651	3,863	190.1	48.9	Nov 10, 2023	J-GAAP
Apr - Sep, 2024	16,384	4,578	4,819	3,561	176.1	53.5	Nov 13, 2024	J-GAAP
YoY	-2.4%	-6.0%	-14.7%	-7.8%	-7.3%

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	15,700	2,900	3,200	2,000	99.8	50	May 14, 2024	J-GAAP
Apr - Sep, 2024 Results	16,384	4,578	4,819	3,561	176.1	50	Nov 13, 2024	J-GAAP
Revision Rate	+4.4%	+57.9%	+50.6%	+78.1%	+76.6%

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	20,516	5,349	5,904	3,436	169.1	66	May 14, 2024	J-GAAP
Oct - Mar, 2024 Guidance	20,516	3,622	4,181	2,439	121.7	50	Nov 13, 2024	J-GAAP
YoY	0.0%	-32.3%	-29.2%	-29.0%	-28.0%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	30,401	6,490	7,610	5,402	265.8	64	May 12, 2023	J-GAAP
Mar, 2024	37,307	10,217	11,555	7,299	359.2	100	May 14, 2024	J-GAAP
Mar, 2025 Guidance	36,900	8,200	9,000	6,000	299.3	100	May 14, 2024	J-GAAP
YoY	-1.1%	-19.7%	-22.1%	-17.8%	-16.7%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	8,634	2,391	2,516	1,756	86.4	27.7	Nov 10, 2023	J-GAAP
Oct - Dec, 2023	9,419	2,905	2,883	2,001	98.5	30.8	Feb 13, 2024	J-GAAP
Jan - Mar, 2024	11,097	2,444	3,021	1,435	70.6	22.0	May 14, 2024	J-GAAP
Apr - Jun, 2024	8,400	2,377	3,125	2,276	112.2	28.3	Aug 9, 2024	J-GAAP
Jul - Sep, 2024	7,984	2,201	1,694	1,285	63.6	27.6	Nov 13, 2024	J-GAAP
YoY	-7.5%	-7.9%	-32.7%	-26.8%	-26.4%