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MEGMILK SNOW BRAND Co.,Ltd., First Half Ordinary Profit Unexpectedly Revised Upward by 4%

Thu Nov 14, 2024 11:00 am JST Earnings

2270 MEGMILK SNOW BRAND Co.,Ltd. 【J-GAAP】

Earnings Report

MEGMILK SNOW BRAND Co.,Ltd. <2270> [TSE-P] announced its financial results in the morning on November 14th (11:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) increased by 4.2% from the same period last year, reaching 12.7 billion yen, resulting in an increase in profits compared to the previous forecast of a 8.5% decrease.

The progress rate against the 20.3 billion yen full-year plan was 62.8%, also surpassing the five-year average of 58.1%.

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 1.3% from the same period last year to 7.54 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit amounted to 6.39 billion yen, an increase of 0.7% compared to the same period last year. However, the operating profit margin remained almost flat, changing from 3.8% in the same period last year to 3.8%.

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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 289,064 7,348 6,883 2,301 34.1 47.5 Nov 10, 2022 J-GAAP
Apr - Sep, 2023 305,669 11,242 12,240 7,698 114.0 61.5 Nov 10, 2023 J-GAAP
Apr - Sep, 2024 311,653 11,819 12,754 9,134 135.2 62.8 Nov 14, 2024 J-GAAP
YoY +2.0% +5.1% +4.2% +18.7% +18.6%

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 316,000 10,400 11,200 8,200 121.4 － May 14, 2024 J-GAAP
Apr - Sep, 2024 Results 311,653 11,819 12,754 9,134 135.2 － Nov 14, 2024 J-GAAP
Revision Rate -1.4% +13.6% +13.9% +11.4% +11.4%

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 299,755 7,218 7,648 11,732 173.7 80 May 14, 2024 J-GAAP
Oct - Mar, 2024 Guidance 318,347 7,181 7,546 4,466 66.2 100 Nov 14, 2024 J-GAAP
YoY +6.2% -0.5% -1.3% -61.9% -61.9%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 584,308 13,054 14,480 9,129 135.2 60 May 15, 2023 J-GAAP
Mar, 2024 605,424 18,460 19,888 19,430 287.7 80 May 14, 2024 J-GAAP
Mar, 2025 Guidance 630,000 19,000 20,300 13,600 201.6 100 May 14, 2024 J-GAAP
YoY +4.1% +2.9% +2.1% -30.0% -29.9%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 155,484 5,983 6,353 4,110 60.9 3.8 Nov 10, 2023 J-GAAP
Oct - Dec, 2023 154,809 5,058 5,534 3,700 54.8 3.3 Feb 9, 2024 J-GAAP
Jan - Mar, 2024 144,946 2,160 2,114 8,032 118.9 1.5 May 14, 2024 J-GAAP
Apr - Jun, 2024 152,438 5,768 6,359 5,272 78.1 3.8 Aug 9, 2024 J-GAAP
Jul - Sep, 2024 159,215 6,051 6,395 3,862 57.2 3.8 Nov 14, 2024 J-GAAP
YoY +2.4% +1.1% +0.7% -6.0% -6.0%

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