BRIDGE International Corp., The Current Fiscal Year Ordinary Profit Revised Downward to an Unexpected 2% Decrease

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Thu Nov 14, 2024 12:00 pm JST Earnings

7039 BRIDGE International Corp. 【J-GAAP】

Earnings Report

BRIDGE International Corp. <7039> [TSE-G] announced its financial results at noon (12:00) on November 14th. The consolidated ordinary profit for the cumulative third quarter of the fiscal year ending December 2024 (January to September) increased by 10.9% from the same period last year, reaching 766 million yen.

However, the full-year consolidated ordinary profit has downwardly by 5.4%, from the previous forecast of 947 million yen to 896 million yen (compared to 916 million yen in the previous period). This changes the outlook from an anticipated profit increase to a projection of a 2.2% decrease in profit.

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 12.9%, from the previous forecast of 395 million yen to 344 million yen (compared to 441 million yen in the same period of the previous year), leading to an increase in the profit decline rate from 10.4% to 22.0%.

In the most recent three-month period, from July to September (3Q), the consolidated ordinary profit amounted to 214 million yen, a 0.9% decrease compared to the same period last year. The operating profit margin decreased from 11.9% in the same period last year to 10.0%.

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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	5,152	759	763	518	139.2	86.1	Nov 9, 2022	J-GAAP
Jan - Sep, 2023	5,381	688	691	460	122.4	75.4	Nov 10, 2023	J-GAAP
Jan - Sep, 2024	6,552	717	766	469	129.2	85.5	Nov 14, 2024	J-GAAP
YoY	+21.8%	+4.2%	+10.9%	+2.0%	+5.6%

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	4,421	444	395	300	83.5	17.50	Aug 14, 2024	J-GAAP
Jul - Dec, 2024 New	4,184	393	344	270	75.1	17.50	Nov 14, 2024	J-GAAP
Revision Rate	-5.4%	-11.5%	-12.9%	-10.0%	-10.0%

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Dec, 2024 Prev	8,842	947	947	616	171.4	35	Feb 9, 2024	J-GAAP
Dec, 2024 New	8,605	896	896	586	163.0	35	Nov 14, 2024	J-GAAP
Revision Rate	-2.7%	-5.4%	-5.4%	-4.9%	-4.9%

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	3,444	440	441	328	87.3	35	Feb 9, 2024	J-GAAP
Jul - Dec, 2024 Guidance	4,184	393	344	270	75.1	17.50	Nov 14, 2024	J-GAAP
YoY	+21.5%	-10.7%	-22.0%	-17.7%	-14.0%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Dec, 2022	6,707	881	886	594	159.5	0	Feb 13, 2023	J-GAAP
Dec, 2023	7,020	913	916	644	171.4	35	Feb 9, 2024	J-GAAP
Dec, 2024 Guidance	8,605	896	896	586	163.0	35	Nov 14, 2024	J-GAAP
YoY	+22.6%	-1.9%	-2.2%	-9.0%	-4.9%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	1,805	215	216	144	38.3	11.9	Nov 10, 2023	J-GAAP
Oct - Dec, 2023	1,639	225	225	184	49.0	13.7	Feb 9, 2024	J-GAAP
Jan - Mar, 2024	1,868	148	198	116	31.5	7.9	May 15, 2024	J-GAAP
Apr - Jun, 2024	2,553	355	354	200	54.8	13.9	Aug 14, 2024	J-GAAP
Jul - Sep, 2024	2,131	214	214	153	42.2	10.0	Nov 14, 2024	J-GAAP
YoY	+18.1%	-0.5%	-0.9%	+6.3%	+10.0%