eole Inc., The Current Fiscal Year Net Income Revised Downward to a Loss, 66% Deficit Against Net Assets

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Thu Nov 14, 2024 3:30 pm JST Earnings

2334 eole Inc. 【J-GAAP】

Earnings Report

eole Inc. <2334> [TSE-G] announced its financial results after the market closed on November 14th (15:30). The net loss (non-consolidated) for the cumulative second quarter of the fiscal year ending March 2025 (April to September) expanded to a loss of 572 million yen (compared to a loss of 12 million yen in the same period last year).

In addition, the full-year net income/loss has been revised downward from an expected profit of 56 million yen to a loss of 533 million yen (compared to a profit of 36 million yen in the previous period), turning to a loss outlook The deficit amounted to a 66.4% impairment of net assets at the end of the previous fiscal year..

Based on the first-half performance announced by the company and the full-year plan, our calculation indicates that the net income for the October to March period (second half) is expected to decrease by 18.8% from the same period last year to 39 million yen.

In the most recent three-month period, from July to September (2Q), the net loss expanded to a loss of 524 million yen (compared to a loss of 38 million yen in the same period last year). The operating profit/loss margin worsened from -4.2% in the same period last year to -6.1%.

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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	1,343	-24	-25	-41	-17.5	ー	Nov 14, 2022	J-GAAP
Apr - Sep, 2023	1,898	-4	-6	-12	-4.7	ー	Nov 14, 2023	J-GAAP
Apr - Sep, 2024	1,590	-103	-104	-572	-216.4	ー	Nov 14, 2024	J-GAAP
YoY	-16.2%	-2,475.0%	-1,633.3%	-4,666.7%	-4,543.6%

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	ー	ー	ー	ー	－	0	May 14, 2024	J-GAAP
Apr - Sep, 2024 Results	1,590	-103	-104	-572	-216.4	0	Nov 14, 2024	J-GAAP
Revision Rate	－	－	－	－	－

Guidance Update

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	4,000	42	42	56	21.2	0	May 14, 2024	J-GAAP
Mar, 2025 New	3,389	-68	-65	-533	-201.6	0	Nov 14, 2024	J-GAAP
Revision Rate	-15.3%	－	－	－	－

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	1,919	45	49	48	18.5	0	May 14, 2024	J-GAAP
Oct - Mar, 2024 Guidance	1,799	35	39	39	14.8	0	Nov 14, 2024	J-GAAP
YoY	-6.3%	-22.2%	-20.4%	-18.8%	-20.2%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	3,564	55	54	36	15.0	0	May 12, 2023	J-GAAP
Mar, 2024	3,817	41	43	36	13.9	0	May 14, 2024	J-GAAP
Mar, 2025 Guidance	3,389	-68	-65	-533	-201.6	0	Nov 14, 2024	J-GAAP
YoY	-11.2%	－	－	－	－

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	886	-37	-38	-38	-14.8	-4.2	Nov 14, 2023	J-GAAP
Oct - Dec, 2023	929	0	0	0	-0.2	0.0	Feb 14, 2024	J-GAAP
Jan - Mar, 2024	990	45	49	48	18.5	4.5	May 14, 2024	J-GAAP
Apr - Jun, 2024	824	-56	-55	-48	-18.3	-6.8	Aug 14, 2024	J-GAAP
Jul - Sep, 2024	766	-47	-49	-524	-198.2	-6.1	Nov 14, 2024	J-GAAP
YoY	-13.5%	-27.0%	-28.9%	-1,278.9%	-1,243.0%