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DENTSU GROUP INC., The Current Fiscal Year Net Income Revised Downward by 36%

Thu Nov 14, 2024 3:45 pm JST Earnings

4324 DENTSU GROUP INC. 【IFRS】

Earnings Report

DENTSU GROUP INC. <4324> [TSE-P] announced its financial results (based on IFRS) after the market closed on November 14th (15:45). The consolidated net income for the cumulative third quarter of the fiscal year ending December 2024 (January to September) significantly dropped by 93.1% from the same period last year to 1.51 billion yen.

In addition, the full-year consolidated net income has downwardly by 36.0%, from the previous forecast of 36.7 billion yen to 23.5 billion yen (compared to a loss of 10.7 billion yen in the previous period).

Based on the full-year plan announced by the company after the downward revision, our estimate of the consolidated net income for the July to December period (second half) has downwardly by 42.4%, from the previous forecast of 31.1 billion yen to 17.9 billion yen (compared to a loss of 26 billion yen in the same period of the previous year).

In the most recent three-month period, from July to September (3Q), the consolidated net income/loss turned to a loss of 4.05 billion yen (compared to a profit of 6.67 billion yen in the same period last year). The operating profit margin drastically worsened from 8.1% in the same period last year to 0.9%.

Kabutan News

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 886,371 91,470 89,427 58,415 217.0 88.6 Nov 14, 2022 IFRS
Jan - Sep, 2023 934,857 48,360 45,949 21,992 83.2 138.8 Nov 14, 2023 IFRS
Jan - Sep, 2024 1,026,142 28,900 17,859 1,510 5.8 Nov 14, 2024 IFRS
YoY +9.8% -40.2% -61.1% -93.1% -93.1%

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 675,763 81,370 31,136 120.0 69.75 Aug 14, 2024 IFRS
Jul - Dec, 2024 New 719,163 66,270 17,936 69.1 69.75 Nov 14, 2024 IFRS
Revision Rate +6.4% -18.6% -42.4% -42.4%

Full Year Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Dec, 2024 Prev 1,356,700 107,100 36,700 141.4 139.50 Aug 14, 2024 IFRS
Dec, 2024 New 1,400,100 92,000 23,500 90.6 139.50 Nov 14, 2024 IFRS
Revision Rate +3.2% -14.1% -36.0% -36.0%

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 701,223 23,853 9,219 -26,035 -98.5 61 Feb 14, 2024 IFRS
Jul - Dec, 2024 Guidance 719,163 66,270 17,936 69.1 69.75 Nov 14, 2024 IFRS
YoY +2.6% +177.8%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Dec, 2022 1,246,401 117,617 100,908 59,847 223.3 155.25 Feb 14, 2023 IFRS
Dec, 2023 1,304,552 45,312 33,103 -10,714 -40.5 139.50 Feb 14, 2024 IFRS
Dec, 2024 Guidance 1,400,100 92,000 23,500 90.6 139.50 Nov 14, 2024 IFRS
YoY +7.3% +103.0%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 331,528 26,901 22,065 6,671 25.2 8.1 Nov 14, 2023 IFRS
Oct - Dec, 2023 369,695 -3,048 -12,846 -32,706 -123.7 -0.8 Feb 14, 2024 IFRS
Jan - Mar, 2024 332,905 14,489 18,651 5,554 21.0 4.4 May 14, 2024 IFRS
Apr - Jun, 2024 348,032 11,241 2,019 10 0.0 3.2 Aug 14, 2024 IFRS
Jul - Sep, 2024 345,205 3,170 -2,811 -4,054 -15.5 0.9 Nov 14, 2024 IFRS
YoY +4.1% -88.2%

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