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C&G SYSTEMS INC., The Current Fiscal Year Ordinary Profit Revised Downward by 41%

Wed Nov 13, 2024 4:00 pm JST Earnings

6633 CGS HOLDINGS INC. 【J-GAAP】

Earnings Report

C&G SYSTEMS INC. <6633> [TSE-S] announced its financial results after the market closed on November 13th (16:00). The consolidated ordinary profit for the cumulative third quarter of the fiscal year ending December 2024 (January to September) decreased by 22.0% from the same period last year to 156 million yen.

In addition, the full-year consolidated ordinary profit has downwardly by 41.3%, from the previous forecast of 341 million yen to 200 million yen (compared to 150 million yen in the previous period), leading to a reduction in the profit growth rate from 2.3 times to 33.3%.

Based on the full-year plan announced by the company after the downward revision, our estimate of the consolidated ordinary profit for the July to December period (second half) has downwardly by 55.3%, from the previous forecast of 255 million yen to 114 million yen (compared to a loss of 76 million yen in the same period of the previous year).

In the most recent three-month period, from July to September (3Q), the consolidated ordinary profit/loss turned to a profit of profit of 70 million yen (compared to a loss of 26 million yen in the same period last year). The operating profit/loss margin drastically improved from -4.1% in the same period last year to 5.5%.

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Actual Results

Accumulated Results 3rd Quarter
Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Progress Rate vs. First Half Announce Accounting Standards
Jan - Sep, 2022 3,331 406 456 265 28.0 89.1 Nov 11, 2022 J-GAAP
Jan - Sep, 2023 2,968 140 200 103 10.9 133.3 Nov 14, 2023 J-GAAP
Jan - Sep, 2024 2,803 108 156 93 9.8 78.0 Nov 13, 2024 J-GAAP
YoY -5.6% -22.9% -22.0% -9.7% -10.1%

Guidance Update

Second Half Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Jul - Dec, 2024 Prev 2,240 246 255 154 16.2 10 Aug 9, 2024 J-GAAP
Jul - Dec, 2024 New 1,971 73 114 81 8.5 10 Nov 13, 2024 J-GAAP
Revision Rate -12.0% -70.3% -55.3% -47.4% -47.4%

Full Year Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Dec, 2024 Prev 4,070 300 341 193 20.3 10 Feb 14, 2024 J-GAAP
Dec, 2024 New 3,801 127 200 120 12.6 10 Nov 13, 2024 J-GAAP
Revision Rate -6.6% -57.7% -41.3% -37.8% -37.8%

Current Period Guidance

Second Half Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Jul - Dec, 2023 1,759 -87 -76 -67 -7.1 10 Feb 14, 2024 J-GAAP
Jul - Dec, 2024 Guidance 1,971 73 114 81 8.5 10 Nov 13, 2024 J-GAAP
YoY +12.1% － － － －

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Dec, 2022 4,421 455 512 293 30.9 13 Feb 10, 2023 J-GAAP
Dec, 2023 3,826 90 150 68 7.2 10 Feb 14, 2024 J-GAAP
Dec, 2024 Guidance 3,801 127 200 120 12.6 10 Nov 13, 2024 J-GAAP
YoY -0.7% +41.1% +33.3% +76.5% +75.4%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 901 -37 -26 -32 -3.4 -4.1 Nov 14, 2023 J-GAAP
Oct - Dec, 2023 858 -50 -50 -35 -3.7 -5.8 Feb 14, 2024 J-GAAP
Jan - Mar, 2024 935 37 56 24 2.6 4.0 May 15, 2024 J-GAAP
Apr - Jun, 2024 895 17 30 15 1.6 1.9 Aug 9, 2024 J-GAAP
Jul - Sep, 2024 973 54 70 54 5.7 5.5 Nov 13, 2024 J-GAAP
YoY +8.0% － － － －

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