Universal Entertainment Corporation, The Current Fiscal Year Ordinary Profit Revised Downward to a Loss, Dividend Revised down by 30 yen

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Thu Nov 14, 2024 5:00 pm JST Earnings

6425 Universal Entertainment Corporation 【J-GAAP】

Earnings Report

Universal Entertainment Corporation <6425> [TSE-S] announced its financial results after the market closed on November 14th (17:00). The consolidated ordinary profit/loss for the cumulative third quarter of the fiscal year ending December 2024 (January to September) turned into a loss of 11.9 billion yen (compared to a profit of 32.2 billion yen in the same period last year).

In addition, the full-year consolidated ordinary profit/loss has been revised downward from an expected profit of 20 billion yen to a loss of 8.7 billion yen (compared to a profit of 38 billion yen in the previous period), turning to a loss outlook.

Based on the full-year plan announced by the company after the downward revision, our estimate of the consolidated ordinary profit/loss for the July to December period (second half) has been revised downward from an expected profit of 14.4 billion yen to a loss of 14.2 billion yen (compared to a profit of 9.67 billion yen in the same period of the previous year), turning to a loss outlook.

Due to a decline in performance, the company decided to forgo the dividend for the second half, which had been planned to be30 yen, The annual will be 30 yen(40 yen in the previous period).

In the most recent three-month period, from July to September (3Q), the consolidated ordinary profit/loss turned to a loss of 17.5 billion yen (compared to a profit of 3.89 billion yen in the same period last year). The operating profit/loss margin drastically worsened from 13.0% in the same period last year to -9.6%.

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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	88,614	579	12,404	2,529	32.7	89.0	Dec 14, 2022	J-GAAP
Jan - Sep, 2023	124,094	16,565	32,298	23,943	309.0	84.8	Nov 14, 2023	J-GAAP
Jan - Sep, 2024	92,366	423	-11,974	-19,461	-251.1	ー	Nov 14, 2024	J-GAAP
YoY	-25.6%	-97.4%	－	－	－

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	137,093	32,736	14,433	19,075	246.2	30	Aug 8, 2024	J-GAAP
Jul - Dec, 2024 New	63,093	-1,264	-14,267	-18,825	-242.9	0	Nov 14, 2024	J-GAAP
Revision Rate	-54.0%	－	－	－	－

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Dec, 2024 Prev	200,000	36,000	20,000	19,600	252.9	60	Aug 8, 2024	J-GAAP
Dec, 2024 New	126,000	2,000	-8,700	-18,300	-236.2	30	Nov 14, 2024	J-GAAP
Revision Rate	-37.0%	-94.4%	－	－	－

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	99,690	19,754	9,675	7,487	96.6	0	Feb 14, 2024	J-GAAP
Jul - Dec, 2024 Guidance	63,093	-1,264	-14,267	-18,825	-242.9	0	Nov 14, 2024	J-GAAP
YoY	-36.7%	－	－	－	－

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Dec, 2022	140,998	12,085	13,933	11,506	148.5	0	Feb 14, 2023	J-GAAP
Dec, 2023	178,995	30,480	38,080	28,439	367.0	40	Feb 14, 2024	J-GAAP
Dec, 2024 Guidance	126,000	2,000	-8,700	-18,300	-236.2	30	Nov 14, 2024	J-GAAP
YoY	-29.6%	-93.4%	－	－	－

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	44,789	5,839	3,893	2,991	38.6	13.0	Nov 14, 2023	J-GAAP
Oct - Dec, 2023	54,901	13,915	5,782	4,496	58.0	25.3	Feb 14, 2024	J-GAAP
Jan - Mar, 2024	34,427	4,023	5,575	3,450	44.5	11.7	May 14, 2024	J-GAAP
Apr - Jun, 2024	28,480	-759	-8	-2,925	-37.8	-2.7	Aug 8, 2024	J-GAAP
Jul - Sep, 2024	29,459	-2,841	-17,541	-19,986	-257.9	-9.6	Nov 14, 2024	J-GAAP
YoY	-34.2%	－	－	－	－