RIDE ON EXPRESS HOLDINGS Co.,Ltd., First Half Ordinary Profit Turns to Loss, July-September Ordinary Profit Decreases by 82%

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Thu Nov 14, 2024 3:30 pm JST Earnings

6082 RIDE ON EXPRESS HOLDINGS Co.,Ltd. 【J-GAAP】

Earnings Report

RIDE ON EXPRESS HOLDINGS Co.,Ltd. <6082> [TSE-S] announced its financial results after the market closed on November 14th (15:30). The consolidated ordinary profit/loss for the cumulative second quarter of the fiscal year ending March 2025 (April to September) turned into a loss of 31 million yen (compared to a profit of 331 million yen in the same period last year).

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 nearly flat at 689 million yen, down 0.6% from the same period last year.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit significantly dropped to 52 million yen, a 82.3% decrease compared to the same period last year. The operating profit margin drastically worsened from 4.7% in the same period last year to 1.5%.

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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	12,119	469	409	267	27.0	37.2	Nov 14, 2022	J-GAAP
Apr - Sep, 2023	11,051	318	331	122	12.6	32.3	Nov 13, 2023	J-GAAP
Apr - Sep, 2024	10,657	-8	-31	-57	-5.9	ー	Nov 14, 2024	J-GAAP
YoY	-3.6%	－	－	－	－

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	10,650	-7	-46	-90	-9.2	0	Sep 25, 2024	J-GAAP
Apr - Sep, 2024 Results	10,657	-8	-31	-57	-5.9	0	Nov 14, 2024	J-GAAP
Revision Rate	+0.1%	-14.3%	+32.6%	+36.7%	+36.2%

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	12,944	749	693	242	24.9	15	May 15, 2024	J-GAAP
Oct - Mar, 2024 Guidance	12,572	712	689	429	43.9	15	Nov 14, 2024	J-GAAP
YoY	-2.9%	-4.9%	-0.6%	+77.3%	+76.3%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	25,353	1,251	1,099	546	55.6	30	May 15, 2023	J-GAAP
Mar, 2024	23,995	1,067	1,024	364	37.4	15	May 15, 2024	J-GAAP
Mar, 2025 Guidance	23,229	704	658	372	38.0	15	Sep 25, 2024	J-GAAP
YoY	-3.2%	-34.0%	-35.7%	+2.2%	+1.6%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	5,590	265	294	121	12.5	4.7	Nov 13, 2023	J-GAAP
Oct - Dec, 2023	6,505	195	177	99	10.2	3.0	Feb 14, 2024	J-GAAP
Jan - Mar, 2024	6,439	554	516	143	14.7	8.6	May 15, 2024	J-GAAP
Apr - Jun, 2024	5,185	-90	-83	-118	-12.1	-1.7	Aug 14, 2024	J-GAAP
Jul - Sep, 2024	5,472	82	52	61	6.3	1.5	Nov 14, 2024	J-GAAP
YoY	-2.1%	-69.1%	-82.3%	-49.6%	-49.8%