ITO EN,LTD., First Half Ordinary Profit Decreases by 19%

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Mon Dec 2, 2024 3:30 pm JST Earnings

2593 ITO EN,LTD. 【J-GAAP】

Earnings Report

ITO EN,LTD. <2593> [TSE Prime] announced its financial results after the market closed on December 2nd (15:30). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending April 2025 (May to October) decreased by 19.2% from the same period last year to 14.6 billion yen. The progress rate against the 26.7 billion yen full-year plan was 54.7%, below the five-year average of 61.3%.

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 November to April period (second half) is expected to expand by 40.6% from the same period last year, reaching 12 billion yen.

In the most recent three-month period, from August to October (2Q), the consolidated ordinary profit amounted to 7.39 billion yen, a 2.1% decrease compared to the same period last year. The operating profit margin remained almost flat, changing from 5.8% in the same period last year to 5.7%.

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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
May - Oct, 2022	227,262	11,335	12,548	7,923	64.1	61.7	Dec 1, 2022	J-GAAP
May - Oct, 2023	242,527	17,046	18,089	11,209	91.0	67.8	Dec 1, 2023	J-GAAP
May - Oct, 2024	252,321	14,389	14,617	9,191	76.0	54.7	Dec 2, 2024	J-GAAP
YoY	+4.0%	-15.6%	-19.2%	-18.0%	-16.5%

First Half Results vs. Previous Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
May - Oct, 2024 Guidance	ー	ー	ー	ー	－	22	Jun 3, 2024	J-GAAP
May - Oct, 2024 Results	252,321	14,389	14,617	9,191	76.0	22	Dec 2, 2024	J-GAAP
Revision Rate	－	－	－	－	－

Current Period Guidance

Second Half Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Nov - Apr, 2023	211,372	7,977	8,592	4,441	35.9	21	Jun 3, 2024	J-GAAP
Nov - Apr, 2024 Guidance	214,279	12,111	12,083	8,009	67.0	22	Dec 2, 2024	J-GAAP
YoY	+1.4%	+51.8%	+40.6%	+80.3%	+86.8%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Apr, 2023	431,674	19,588	20,341	12,888	103.8	40	Jun 1, 2023	J-GAAP
Apr, 2024	453,899	25,023	26,681	15,650	126.4	42	Jun 3, 2024	J-GAAP
Apr, 2025 Guidance	466,600	26,500	26,700	17,200	143.9	44	Jun 3, 2024	J-GAAP
YoY	+2.8%	+5.9%	+0.1%	+9.9%	+13.8%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Aug - Oct, 2023	121,373	7,054	7,553	4,381	35.6	5.8	Dec 1, 2023	J-GAAP
Nov - Jan, 2023	103,724	4,712	4,892	3,034	24.7	4.5	Mar 1, 2024	J-GAAP
Feb - Apr, 2024	107,648	3,265	3,700	1,407	11.4	3.0	Jun 3, 2024	J-GAAP
May - Jul, 2024	125,039	7,128	7,219	4,440	37.3	5.7	Sep 2, 2024	J-GAAP
Aug - Oct, 2024	127,282	7,261	7,398	4,751	39.3	5.7	Dec 2, 2024	J-GAAP
YoY	+4.9%	+2.9%	-2.1%	+8.4%	+10.4%