ECONOS Co., Ltd., First Half Ordinary Profit Unexpectedly Revised Upward by 20%

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Thu Nov 14, 2024 3:30 pm JST Earnings

3136 ECONOS Co., Ltd. 【J-GAAP】

Earnings Report

ECONOS Co., Ltd. <3136> [SSE-A] announced its financial results after the market closed on November 14th (15:30). The ordinary profit (non-consolidated) for the cumulative second quarter of the fiscal year ending March 2025 (April to September) increased by 20.0% from the same period last year, reaching 114 million yen, resulting in an increase in profits compared to the previous forecast of a 25.3% decrease.

The progress rate against the 168 million yen full-year plan was 67.9%, also surpassing the three-year average of 52.8%.

Based on the first-half performance announced by the company and the unchanged full-year plan, our calculation indicates that the ordinary profit for the October to March period (second half) is expected to drop by 40.7% from the same period last year to 54 million yen.

In the most recent three-month period, from July to September (2Q), the ordinary profit increased by 40.0% from the same period last year, reaching 63 million yen. The operating profit margin improved from 5.2% in the same period last year to 5.7%.

Kabutan News

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	2,058	103	82	104	79.7	56.9	Nov 14, 2022	J-GAAP
Apr - Sep, 2023	2,183	115	95	64	48.7	51.1	Nov 14, 2023	J-GAAP
Apr - Sep, 2024	2,357	135	114	78	59.4	67.9	Nov 14, 2024	J-GAAP
YoY	+8.0%	+17.4%	+20.0%	+21.9%	+22.1%

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	2,264	100	71	48	36.4	25	Jun 28, 2024	J-GAAP
Apr - Sep, 2024 Results	2,357	135	114	78	59.4	25	Nov 14, 2024	J-GAAP
Revision Rate	+4.1%	+35.0%	+60.6%	+62.5%	+63.1%

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	2,283	112	91	39	29.8	0	Jun 28, 2024	J-GAAP
Oct - Mar, 2024 Guidance	2,211	82	54	42	31.9	25	Nov 14, 2024	J-GAAP
YoY	-3.2%	-26.8%	-40.7%	+7.7%	+7.1%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	4,192	190	144	171	129.9	0	May 15, 2023	J-GAAP
Mar, 2024	4,466	227	186	103	78.6	0	Jun 28, 2024	J-GAAP
Mar, 2025 Guidance	4,568	217	168	120	91.0	50	Jun 28, 2024	J-GAAP
YoY	+2.3%	-4.4%	-9.7%	+16.5%	+15.8%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	1,083	56	45	30	22.8	5.2	Nov 14, 2023	J-GAAP
Oct - Dec, 2023	1,134	69	58	40	30.6	6.1	Feb 14, 2024	J-GAAP
Jan - Mar, 2024	1,149	43	33	-1	-0.8	3.7	Jun 28, 2024	J-GAAP
Apr - Jun, 2024	1,193	69	51	35	26.8	5.8	Aug 9, 2024	J-GAAP
Jul - Sep, 2024	1,164	66	63	43	32.8	5.7	Nov 14, 2024	J-GAAP
YoY	+7.5%	+17.9%	+40.0%	+43.3%	+43.6%