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UT Group Co,.Ltd., The Current Fiscal Year Ordinary Profit Revised Downward to an Unexpected 31% Decrease, Dividend Revised down by 62.15 yen

Wed Nov 13, 2024 5:00 pm JST Earnings

2146 UT Group Co,.Ltd. 【J-GAAP】

Earnings Report

UT Group Co,.Ltd. <2146> [TSE-P] announced its financial results after the market closed on November 13th (17:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) decreased by 29.3% from the same period last year to 3.69 billion yen.

In addition, the full-year consolidated ordinary profit has downwardly by 51.9%, from the previous forecast of 13.5 billion yen to 6.5 billion yen (compared to 9.39 billion yen in the previous period). This changes the outlook from an anticipated profit increase to a projection of a 30.8% decrease in profit.

Based on the first-half performance announced by the company and the full-year plan, our calculation indicates that the consolidated ordinary profit for the October to March period (second half) is expected to drop by 32.8% from the same period last year to 2.8 billion yen.

Due to a decline in performance, the company has significantly reduced its planned year-end lump-sum dividend for the current fiscal year from the original plan of 164.81 yen to 102.66 yen (compared to 96.15 yen in the previous period).

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit decreased to 1.82 billion yen, a 26.0% decrease compared to the same period last year. The operating profit margin worsened from 6.0% in the same period last year to 3.7%.

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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 84,284 6,844 6,777 4,440 7.3 76.7 Nov 11, 2022 J-GAAP
Apr - Sep, 2023 82,203 5,241 5,218 3,536 5.9 55.5 Nov 13, 2023 J-GAAP
Apr - Sep, 2024 89,397 3,604 3,691 6,411 10.7 56.8 Nov 13, 2024 J-GAAP
YoY +8.8% -31.2% -29.3% +81.3% +82.0%

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 － － May 14, 2024 J-GAAP
Apr - Sep, 2024 Results 89,397 3,604 3,691 6,411 10.7 0 Nov 13, 2024 J-GAAP
Revision Rate － － － － －

Guidance Update

Full Year Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2025 Prev 215,000 13,600 13,500 13,000 21.8 10.99 May 14, 2024 J-GAAP
Mar, 2025 New 183,100 6,500 6,500 8,100 13.6 6.84 Nov 13, 2024 J-GAAP
Revision Rate -14.8% -52.2% -51.9% -37.7% -37.7%

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 84,827 4,103 4,179 2,825 4.8 6.41 May 14, 2024 J-GAAP
Oct - Mar, 2024 Guidance 93,703 2,896 2,809 1,689 2.8 6.84 Nov 13, 2024 J-GAAP
YoY +10.5% -29.4% -32.8% -40.2% -40.4%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 170,631 8,914 8,834 3,831 6.3 0 May 15, 2023 J-GAAP
Mar, 2024 167,030 9,344 9,397 6,361 10.7 6.41 May 14, 2024 J-GAAP
Mar, 2025 Guidance 183,100 6,500 6,500 8,100 13.6 6.84 Nov 13, 2024 J-GAAP
YoY +9.6% -30.4% -30.8% +27.3% +27.0%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 40,983 2,449 2,465 1,580 2.6 6.0 Nov 13, 2023 J-GAAP
Oct - Dec, 2023 42,921 2,999 3,034 2,181 3.7 7.0 Feb 9, 2024 J-GAAP
Jan - Mar, 2024 41,906 1,104 1,145 644 1.1 2.6 May 14, 2024 J-GAAP
Apr - Jun, 2024 44,164 1,922 1,868 4,930 8.3 4.4 Aug 9, 2024 J-GAAP
Jul - Sep, 2024 45,233 1,682 1,823 1,481 2.5 3.7 Nov 13, 2024 J-GAAP
YoY +10.4% -31.3% -26.0% -6.3% -6.1%

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