Denyo Co.,Ltd., First Half Ordinary Profit Increases by 49%

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Thu Nov 14, 2024 2:00 pm JST Earnings

6517 Denyo Co.,Ltd. 【J-GAAP】

Earnings Report

Denyo Co.,Ltd. <6517> [TSE-P] announced its financial results in the afternoon session on November 14th (14:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) expanded to 3.42 billion yen, an increase of 48.7% compared to the same period last year, exceeded the previous forecast of 2.4 billion yen.

The progress rate against the 7 billion yen full-year plan was 49.0%, exceeding the five-year average of 35.3%.

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 29.6% from the same period last year to 3.57 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit increased by 33.6% from the same period last year, reaching 1.5 billion yen. The operating profit margin improved from 6.7% in the same period last year to 7.9%.

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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	28,271	1,083	1,157	800	38.6	22.3	Nov 10, 2022	J-GAAP
Apr - Sep, 2023	34,201	2,167	2,305	1,598	77.5	31.2	Nov 9, 2023	J-GAAP
Apr - Sep, 2024	34,020	3,089	3,427	2,294	111.1	49.0	Nov 14, 2024	J-GAAP
YoY	-0.5%	+42.5%	+48.7%	+43.6%	+43.4%

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	34,000	2,300	2,400	1,600	77.5	30	May 9, 2024	J-GAAP
Apr - Sep, 2024 Results	34,020	3,089	3,427	2,294	111.1	30	Nov 14, 2024	J-GAAP
Revision Rate	+0.1%	+34.3%	+42.8%	+43.4%	+43.4%

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	38,939	4,922	5,073	3,497	169.4	40	May 9, 2024	J-GAAP
Oct - Mar, 2024 Guidance	39,980	3,611	3,573	2,406	116.7	40	Nov 14, 2024	J-GAAP
YoY	+2.7%	-26.6%	-29.6%	-31.2%	-31.1%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	64,311	4,874	5,180	3,633	175.6	50	May 11, 2023	J-GAAP
Mar, 2024	73,140	7,089	7,378	5,095	246.8	64	May 9, 2024	J-GAAP
Mar, 2025 Guidance	74,000	6,700	7,000	4,700	228.0	70	May 9, 2024	J-GAAP
YoY	+1.2%	-5.5%	-5.1%	-7.8%	-7.6%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	17,365	1,171	1,128	792	38.4	6.7	Nov 9, 2023	J-GAAP
Oct - Dec, 2023	19,150	1,719	1,775	1,230	59.6	9.0	Feb 8, 2024	J-GAAP
Jan - Mar, 2024	19,789	3,203	3,298	2,267	109.8	16.2	May 9, 2024	J-GAAP
Apr - Jun, 2024	16,708	1,716	1,920	1,259	61.0	10.3	Aug 8, 2024	J-GAAP
Jul - Sep, 2024	17,312	1,373	1,507	1,035	50.1	7.9	Nov 14, 2024	J-GAAP
YoY	-0.3%	+17.3%	+33.6%	+30.7%	+30.6%