VELTRA Corporation, The Current Fiscal Year Net Income Revised Downward to a Loss

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Thu Nov 14, 2024 3:30 pm JST Earnings

7048 VELTRA Corporation 【J-GAAP】

Earnings Report

VELTRA Corporation <7048> [TSE-G] announced its financial results after the market closed on November 14th (15:30). The consolidated net loss for the cumulative third quarter of the fiscal year ending December 2024 (January to September) expanded to a loss of 319 million yen (compared to a loss of 172 million yen in the same period last year).

In addition, the full-year consolidated net income/loss has been revised downward from an expected profit of 264 million yen to a loss of 450 million yen (compared to a loss of 57 million yen in the previous period), turning to a loss outlook.

Based on the full-year plan announced by the company after the downward revision, our estimate of the consolidated net income/loss for the July to December period (second half) has been revised downward from an expected profit of 535 million yen to a loss of 179 million yen (compared to a profit of 197 million yen in the same period of the previous year), turning to a loss outlook.

In the most recent three-month period, from July to September (3Q), the consolidated net income/loss turned to a loss of 48 million yen (compared to a profit of 82 million yen in the same period last year). The operating profit/loss margin drastically worsened from 11.1% in the same period last year to -3.2%.

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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	771	-626	-581	-629	-18.3	ー	Nov 11, 2022	J-GAAP
Jan - Sep, 2023	2,228	-84	-133	-172	-4.8	ー	Nov 14, 2023	J-GAAP
Jan - Sep, 2024	3,201	-242	-334	-319	-8.8	ー	Nov 14, 2024	J-GAAP
YoY	+43.7%	-188.1%	-151.1%	-85.5%	-81.2%

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	3,653	547	625	535	14.6	0	Aug 14, 2024	J-GAAP
Jul - Dec, 2024 New	2,385	-121	-133	-179	-4.9	0	Nov 14, 2024	J-GAAP
Revision Rate	-34.7%	－	－	－	－

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Dec, 2024 Prev	5,468	350	340	264	7.2	0	Feb 14, 2024	J-GAAP
Dec, 2024 New	4,200	-318	-418	-450	-12.3	0	Nov 14, 2024	J-GAAP
Revision Rate	-23.2%	－	－	－	－

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	1,966	136	121	197	5.6	0	Feb 14, 2024	J-GAAP
Jul - Dec, 2024 Guidance	2,385	-121	-133	-179	-4.9	0	Nov 14, 2024	J-GAAP
YoY	+21.3%	－	－	－	－

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Dec, 2022	1,163	-794	-753	-794	-22.9	0	Feb 14, 2023	J-GAAP
Dec, 2023	3,123	-67	-112	-57	-1.6	0	Feb 14, 2024	J-GAAP
Dec, 2024 Guidance	4,200	-318	-418	-450	-12.3	0	Nov 14, 2024	J-GAAP
YoY	+34.5%	-374.6%	-273.2%	-689.5%	-659.3%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	1,071	119	100	82	2.3	11.1	Nov 14, 2023	J-GAAP
Oct - Dec, 2023	895	17	21	115	3.3	1.9	Feb 14, 2024	J-GAAP
Jan - Mar, 2024	980	27	-10	-14	-0.4	2.8	May 14, 2024	J-GAAP
Apr - Jun, 2024	835	-224	-275	-257	-7.1	-26.8	Aug 14, 2024	J-GAAP
Jul - Sep, 2024	1,386	-45	-49	-48	-1.3	-3.2	Nov 14, 2024	J-GAAP
YoY	+29.4%	－	－	－	－