Ultrafabrics Holdings Co.,Ltd., January-September (Third Quarter Cumulative) Net Income Decreases by 22%, July-September Net Income Decreases by 81%

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Thu Nov 14, 2024 3:30 pm JST Earnings

4235 Ultrafabrics Holdings Co.,Ltd. 【IFRS】

Earnings Report

Ultrafabrics Holdings Co.,Ltd. <4235> [TSE-S] announced its financial results (based on IFRS) after the market closed on November 14th (15:30). The consolidated net income for the cumulative third quarter of the fiscal year ending December 2024 (January to September) decreased by 21.9% from the same period last year to 1.26 billion yen. However, The progress rate against the 1.6 billion yen full-year plan was 79.3%, also surpassing the five-year average of 66.2%.

Based on the third-quarter cumulative performance announced by the company and the unchanged full-year plan, our calculation indicates that the consolidated net income for the October to December period (4Q) is expected to significant drop by 55.9% from the same period last year to 332 million yen.

In the most recent three-month period, from July to September (3Q), the consolidated net income significantly dropped to 117 million yen, a 80.6% decrease compared to the same period last year. The operating profit margin significantly dropped from 21.9% in the same period last year to 11.0%.

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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	14,275	2,351	2,366	1,623	85.6	82.6	Nov 14, 2022	IFRS
Jan - Sep, 2023	15,771	2,943	2,572	1,623	95.9	88.9	Nov 14, 2023	IFRS
Jan - Sep, 2024	15,366	2,173	1,773	1,268	68.8	80.6	Nov 14, 2024	IFRS
YoY	-2.6%	-26.2%	-31.1%	-21.9%	-28.2%

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	10,481	1,745	1,254	1,354	73.9	39	Feb 14, 2024	IFRS
Jul - Dec, 2024 Guidance	9,990	872	678	449	22.1	39	Aug 14, 2024	IFRS
YoY	-4.7%	-50.0%	-45.9%	-66.8%	-70.1%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Dec, 2022	19,595	3,197	2,865	2,051	109.2	31	Feb 14, 2023	IFRS
Dec, 2023	21,045	3,546	2,892	2,375	129.6	39	Feb 14, 2024	IFRS
Dec, 2024 Guidance	20,400	2,500	2,200	1,600	78.7	39	Aug 14, 2024	IFRS
YoY	-3.1%	-29.5%	-23.9%	-32.6%	-39.3%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	5,207	1,142	934	602	35.6	21.9	Nov 14, 2023	IFRS
Oct - Dec, 2023	5,274	603	320	752	41.0	11.4	Feb 14, 2024	IFRS
Jan - Mar, 2024	5,374	957	883	635	34.6	17.8	May 15, 2024	IFRS
Apr - Jun, 2024	5,036	671	639	516	28.1	13.3	Aug 14, 2024	IFRS
Jul - Sep, 2024	4,956	545	251	117	6.4	11.0	Nov 14, 2024	IFRS
YoY	-4.8%	-52.3%	-73.1%	-80.6%	-82.1%