GreenEnergy&Co, First Half Ordinary Profit Decreases by 30%

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Tue Dec 10, 2024 3:30 pm JST Earnings

1436 GreenEnergy & Company Inc. 【J-GAAP】

Earnings Report

GreenEnergy & Company Inc. <1436> [TSE Growth] announced its financial results after the market closed on December 10th (15:30). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending April 2025 (May to October) dropped 30.4% from the same period last year to 133 million yen, fell short of the previous forecast of 180 million yen.

The progress rate toward the full-year plan of 560 million yen was 23.8%, also falling below the five-year average of 51.6%.

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 37.3% from the same period last year, reaching 427 million yen.

In the most recent three-month period, from August to October (2Q), the consolidated ordinary profit amounted to 156 million yen, a 2.5% decrease compared to the same period last year. The operating profit margin remained almost flat, changing from 6.3% in the same period last year to 6.2%.

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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	4,495	305	291	171	42.1	56.5	Dec 12, 2022	J-GAAP
May - Oct, 2023	4,625	200	191	111	27.3	38.0	Dec 11, 2023	J-GAAP
May - Oct, 2024	4,848	161	133	81	19.8	23.8	Dec 10, 2024	J-GAAP
YoY	+4.8%	-19.5%	-30.4%	-27.0%	-27.2%

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	5,000	200	180	105	25.8	0	Jun 10, 2024	J-GAAP
May - Oct, 2024 Results	4,848	161	133	81	19.8	0	Dec 10, 2024	J-GAAP
Revision Rate	-3.0%	-19.5%	-26.1%	-22.9%	-23.0%

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	5,051	312	311	219	53.8	12	Jun 10, 2024	J-GAAP
Nov - Apr, 2024 Guidance	6,652	439	427	279	68.0	13	Dec 10, 2024	J-GAAP
YoY	+31.7%	+40.7%	+37.3%	+27.4%	+26.3%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Apr, 2023	8,853	530	515	323	79.4	12	Jun 12, 2023	J-GAAP
Apr, 2024	9,676	512	502	330	81.1	12	Jun 10, 2024	J-GAAP
Apr, 2025 Guidance	11,500	600	560	360	87.7	13	Jun 10, 2024	J-GAAP
YoY	+18.9%	+17.2%	+11.6%	+9.1%	+8.2%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Aug - Oct, 2023	2,683	170	160	84	20.6	6.3	Dec 11, 2023	J-GAAP
Nov - Jan, 2023	1,913	40	22	30	7.4	2.1	Mar 11, 2024	J-GAAP
Feb - Apr, 2024	3,138	272	289	189	46.4	8.7	Jun 10, 2024	J-GAAP
May - Jul, 2024	1,979	-17	-23	-15	-3.8	-0.9	Sep 10, 2024	J-GAAP
Aug - Oct, 2024	2,869	178	156	96	23.5	6.2	Dec 10, 2024	J-GAAP
YoY	+6.9%	+4.7%	-2.5%	+14.3%	+13.9%