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

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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	110.0	76.7	Nov 11, 2022	J-GAAP
Apr - Sep, 2023	82,203	5,241	5,218	3,536	88.6	55.5	Nov 13, 2023	J-GAAP
Apr - Sep, 2024	89,397	3,604	3,691	6,411	161.2	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	161.2	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	326.2	164.81	May 14, 2024	J-GAAP
Mar, 2025 New	183,100	6,500	6,500	8,100	203.3	102.66	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	71.2	96.15	May 14, 2024	J-GAAP
Oct - Mar, 2024 Guidance	93,703	2,896	2,809	1,689	42.4	102.66	Nov 13, 2024	J-GAAP
YoY	+10.5%	-29.4%	-32.8%	-40.2%	-40.5%

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	94.9	0	May 15, 2023	J-GAAP
Mar, 2024	167,030	9,344	9,397	6,361	160.4	96.15	May 14, 2024	J-GAAP
Mar, 2025 Guidance	183,100	6,500	6,500	8,100	203.3	102.66	Nov 13, 2024	J-GAAP
YoY	+9.6%	-30.4%	-30.8%	+27.3%	+26.7%

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	39.6	6.0	Nov 13, 2023	J-GAAP
Oct - Dec, 2023	42,921	2,999	3,034	2,181	54.9	7.0	Feb 9, 2024	J-GAAP
Jan - Mar, 2024	41,906	1,104	1,145	644	16.2	2.6	May 14, 2024	J-GAAP
Apr - Jun, 2024	44,164	1,922	1,868	4,930	124.1	4.4	Aug 9, 2024	J-GAAP
Jul - Sep, 2024	45,233	1,682	1,823	1,481	37.2	3.7	Nov 13, 2024	J-GAAP
YoY	+10.4%	-31.3%	-26.0%	-6.3%	-5.9%