UNITED, Inc., First Half Ordinary Profit Decreases by 53%, Exceeds Full-Year Plan

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Wed Nov 13, 2024 3:30 pm JST Earnings

2497 UNITED, Inc. 【J-GAAP】

Earnings Report

UNITED, Inc. <2497> [TSE-G] 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) significantly dropped by 53.2% from the same period last year to 2.52 billion yen. The progress rate against the full-year plan of 2.25 billion yen is 112.0%, already exceeding the target and also exceeding the five-year average of 78.6%.

Based on the first-half performance announced by the company and the unchanged full-year plan, our calculation indicates that the consolidated ordinary loss for the October to March period (second half) is expected to further decrease to loss of 270 million yen (compared to a loss of 550 million yen in the same period last year).

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit/loss turned to a loss of 378 million yen (compared to a profit of 13 million yen in the same period last year). The operating profit/loss margin drastically worsened from 0.4% in the same period last year to -21.7%.

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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	6,637	3,136	3,146	2,374	59.4	53.8	Nov 9, 2022	J-GAAP
Apr - Sep, 2023	9,170	5,368	5,379	3,080	78.8	111.4	Nov 9, 2023	J-GAAP
Apr - Sep, 2024	6,326	2,572	2,520	1,628	41.5	112.0	Nov 13, 2024	J-GAAP
YoY	-31.0%	-52.1%	-53.2%	-47.1%	-47.3%

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	ー	ー	ー	ー	－	24	May 9, 2024	J-GAAP
Apr - Sep, 2024 Results	6,326	2,572	2,520	1,628	41.5	24	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	3,403	-509	-550	-714	-18.2	24	May 9, 2024	J-GAAP
Oct - Mar, 2024 Guidance	3,524	-322	-270	-303	-7.7	24	Nov 13, 2024	J-GAAP
YoY	+3.6%	+36.7%	+50.9%	+57.6%	+57.7%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	13,140	5,823	5,851	4,139	104.7	21.50	May 10, 2023	J-GAAP
Mar, 2024	12,573	4,859	4,829	2,366	60.4	48	May 9, 2024	J-GAAP
Mar, 2025 Guidance	9,850	2,250	2,250	1,325	33.7	48	May 9, 2024	J-GAAP
YoY	-21.7%	-53.7%	-53.4%	-44.0%	-44.2%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	1,946	7	13	-605	-15.5	0.4	Nov 9, 2023	J-GAAP
Oct - Dec, 2023	1,616	-405	-407	-405	-10.4	-25.1	Feb 8, 2024	J-GAAP
Jan - Mar, 2024	1,787	-104	-143	-309	-7.9	-5.8	May 9, 2024	J-GAAP
Apr - Jun, 2024	4,711	2,922	2,898	1,929	49.2	62.0	Aug 7, 2024	J-GAAP
Jul - Sep, 2024	1,615	-350	-378	-301	-7.7	-21.7	Nov 13, 2024	J-GAAP
YoY	-17.0%	－	－	+50.2%	+50.4%