Horiifoodservice Co.,Ltd., First Half Ordinary Profit Loss Narrows

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Wed Nov 13, 2024 4:00 pm JST Earnings

3077 Horiifoodservice Co.,Ltd. 【J-GAAP】

Earnings Report

Horiifoodservice Co.,Ltd. <3077> [TSE-S] announced its financial results after the market closed on November 13th (16:00). The consolidated ordinary loss for the cumulative second quarter of the fiscal year ending March 2025 (April to September) was a reduced loss of 33 million yen (compared to a loss of 93 million yen in the previous period non-consolidated), a reduction in the deficit from the previous forecast of a loss of 57 million yen.

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 6.9% from the previous period non-consolidated to 161 million yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary loss improved to a deficit of loss of 13 million yen (compared to a loss of 34 million yen in the previous period non-consolidated). The operating profit/loss margin improved from -3.3% in the same period last year to -0.5%.

Note: Since the current fiscal year, the company has transitioned to consolidated financial statements.

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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	1,780	-390	-181	-164	-29.0	ー	Nov 8, 2022	J-GAAP
Apr - Sep, 2023	2,134	-94	-93	-104	-18.4	ー	Nov 7, 2023	J-GAAP
Apr - Sep, 2024	2,169	-24	-33	-40	-7.2	ー	Nov 13, 2024	J-GAAP
YoY	+1.6%	+74.5%	+64.5%	+61.5%	+61.1%

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	2,160	-54	-57	-63	-11.1	－	Aug 9, 2024	J-GAAP
Apr - Sep, 2024 Results	2,169	-24	-33	-40	-7.2	0	Nov 13, 2024	J-GAAP
Revision Rate	+0.4%	+55.6%	+42.1%	+36.5%	+35.6%

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	2,522	163	173	193	34.3	0	May 16, 2024	J-GAAP
Oct - Mar, 2024 Guidance	2,581	159	161	155	27.3	0	Nov 13, 2024	J-GAAP
YoY	+2.3%	-2.5%	-6.9%	-19.7%	-20.3%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	4,053	-354	-226	-278	-49.2	0	May 16, 2023	J-GAAP
Mar, 2024	4,656	69	80	89	15.8	0	May 16, 2024	J-GAAP
Mar, 2025 Guidance	4,750	135	128	115	20.3	0	Aug 9, 2024	J-GAAP
YoY	+2.0%	+95.7%	+60.0%	+29.2%	+28.2%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	1,093	-36	-34	-43	-7.6	-3.3	Nov 7, 2023	J-GAAP
Oct - Dec, 2023	1,333	113	122	109	22.9	8.5	Feb 8, 2024	J-GAAP
Jan - Mar, 2024	1,189	50	51	84	14.9	4.2	May 16, 2024	J-GAAP
Apr - Jun, 2024	1,060	-18	-20	-23	-4.1	-1.7	Aug 9, 2024	J-GAAP
Jul - Sep, 2024	1,109	-6	-13	-17	-3.0	-0.5	Nov 13, 2024	J-GAAP
YoY	+1.5%	+83.3%	+61.8%	+60.5%	+60.1%