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GNI Group Ltd., January-September (Third Quarter Cumulative) Net Income Decreases by 41%

Thu Nov 14, 2024 4:00 pm JST Earnings

2160 GNI Group Ltd. 【IFRS】

Earnings Report

GNI Group Ltd. <2160> [TSE-G] announced its financial results (based on IFRS) after the market closed on November 14th (16:00). The consolidated net income for the cumulative third quarter of the fiscal year ending December 2024 (January to September) dropped by 41.0% from the same period last year to 1.3 billion yen. The progress rate against the 7.05 billion yen full-year plan was 18.5%, also falling below the five-year average of 123.6%.

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 decrease by 2.2% from the same period last year to 5.75 billion yen.

In the most recent three-month period, from July to September (3Q), the consolidated net income increased by 75.7% from the same period last year, reaching 975 million yen. However, the operating profit margin significantly dropped from 20.6% in the same period last year to 10.6%.

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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 12,761 1,494 1,223 1,076 22.7 159.5 Nov 14, 2022 IFRS
Jan - Sep, 2023 20,547 6,802 6,376 2,213 46.6 50.6 Nov 14, 2023 IFRS
Jan - Sep, 2024 17,192 2,342 1,806 1,305 26.1 11.6 Nov 14, 2024 IFRS
YoY -16.3% -65.6% -71.7% -41.0% -44.0%

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 11,914 7,632 7,495 6,436 134.8 0 Feb 14, 2024 IFRS
Jul - Dec, 2024 Guidance 27,833 14,524 14,721 6,728 134.2 0 Aug 14, 2024 IFRS
YoY +133.6% +90.3% +96.4% +4.5% -0.5%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Dec, 2022 17,418 1,377 767 388 8.2 0 Feb 15, 2023 IFRS
Dec, 2023 26,010 13,108 12,612 8,094 169.5 0 Feb 14, 2024 IFRS
Dec, 2024 Guidance 39,566 16,286 15,552 7,058 140.7 0 Feb 14, 2024 IFRS
YoY +52.1% +24.2% +23.3% -12.8% -17.0%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 6,451 1,326 1,259 555 11.7 20.6 Nov 14, 2023 IFRS
Oct - Dec, 2023 5,463 6,306 6,236 5,881 123.2 115.4 Feb 14, 2024 IFRS
Jan - Mar, 2024 5,948 2,283 1,827 1,454 29.2 38.4 May 15, 2024 IFRS
Apr - Jun, 2024 5,785 -521 -996 -1,124 -22.5 -9.0 Aug 14, 2024 IFRS
Jul - Sep, 2024 5,459 580 975 975 19.5 10.6 Nov 14, 2024 IFRS
YoY -15.4% -56.3% -22.6% +75.7% +66.9%

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