FIRST BAKING CO.,LTD., January-September (Third Quarter Cumulative) Ordinary Profit Increases by 92%, Exceeds Full-Year Plan

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Thu Nov 14, 2024 4:00 pm JST Earnings

2215 FIRST BAKING CO.,LTD. 【J-GAAP】

Earnings Report

FIRST BAKING CO.,LTD. <2215> [TSE-S] announced its financial results after the market closed on November 14th (16:00). The consolidated ordinary profit for the cumulative third quarter of the fiscal year ending December 2024 (January to September) expanded to 548 million yen, an increase of 92.3% compared to the same period last year. The progress rate against the full-year plan of 540 million yen is 101.5%, already exceeding the target and also exceeding the same period of the previous year of 46.2%.

Based on the third-quarter cumulative performance announced by the company and the unchanged full-year plan, our calculation indicates that the consolidated ordinary profit/loss for the October to December period (4Q) is expected to turn into a loss of 8 million yen (compared to a profit of 332 million yen in the same period last year).

In the most recent three-month period, from July to September (3Q), the consolidated ordinary profit significantly dropped to 84 million yen, a 69.1% decrease compared to the same period last year. The operating profit margin worsened from 4.1% in the same period last year to 1.1%.

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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	17,703	-406	-414	-891	-128.8	ー	Nov 14, 2022	J-GAAP
Jan - Sep, 2023	19,480	267	285	251	36.3	46.2	Nov 14, 2023	J-GAAP
Jan - Sep, 2024	20,276	550	548	1,888	272.8	101.5	Nov 14, 2024	J-GAAP
YoY	+4.1%	+106.0%	+92.3%	+652.2%	+651.2%

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	13,638	601	604	487	70.4	0	Feb 14, 2024	J-GAAP
Jul - Dec, 2024 Guidance	14,224	96	76	-266	-38.4	0	Aug 14, 2024	J-GAAP
YoY	+4.3%	-84.0%	-87.4%	－	－

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Dec, 2022	24,552	-547	-554	-1,145	-165.5	0	Feb 17, 2023	J-GAAP
Dec, 2023	26,442	597	617	474	68.5	0	Feb 14, 2024	J-GAAP
Dec, 2024 Guidance	27,790	570	540	1,600	231.1	0	May 29, 2024	J-GAAP
YoY	+5.1%	-4.5%	-12.5%	+237.6%	+237.3%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	6,676	271	272	264	38.2	4.1	Nov 14, 2023	J-GAAP
Oct - Dec, 2023	6,962	330	332	223	32.2	4.7	Feb 14, 2024	J-GAAP
Jan - Mar, 2024	6,665	304	304	276	39.9	4.6	May 15, 2024	J-GAAP
Apr - Jun, 2024	6,901	170	160	1,590	229.7	2.5	Aug 14, 2024	J-GAAP
Jul - Sep, 2024	6,710	76	84	22	3.2	1.1	Nov 14, 2024	J-GAAP
YoY	+0.5%	-72.0%	-69.1%	-91.7%	-91.7%