ASKUL, First Half Ordinary Profit Decreases by 17%, Sep-Nov Ordinary Profit Decreases by 22%

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Fri Dec 13, 2024 3:30 pm JST Earnings

2678 ASKUL Corporation 【J-GAAP】

Earnings Report

ASKUL Corporation <2678> [TSE Prime] announced its financial results after the market closed on December 13th (15:30). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending May 2025 (June to November) decreased 16.7% from the same period last year to 5.92 billion yen. The progress rate toward the full-year plan of 17.7 billion yen was 33.4%, also falling below the five-year average of 43.6%.

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 December to May period (second half) is expected to grow 23.1% from the same period last year, reaching 11.7 billion yen.

In the most recent three-month period, from September to November (2Q), the consolidated ordinary profit decreased to 3.41 billion yen, a 22.1% decrease compared to the same period last year. The operating profit margin worsened from 3.7% in the same period last year to 2.9%.

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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
Jun - Nov, 2022	220,251	6,745	6,709	4,481	46.0	46.4	Dec 15, 2022	J-GAAP
Jun - Nov, 2023	231,288	7,242	7,104	4,637	47.6	42.6	Dec 15, 2023	J-GAAP
Jun - Nov, 2024	237,932	6,028	5,920	3,739	39.1	33.4	Dec 13, 2024	J-GAAP
YoY	+2.9%	-16.8%	-16.7%	-19.4%	-17.8%

First Half Results vs. Previous Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Jun - Nov, 2024 Guidance	ー	ー	ー	ー	－	19	Jul 3, 2024	J-GAAP
Jun - Nov, 2024 Results	237,932	6,028	5,920	3,739	39.1	19	Dec 13, 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
Dec - May, 2023	240,394	9,711	9,573	14,502	148.9	18	Jul 3, 2024	J-GAAP
Dec - May, 2024 Guidance	262,068	11,972	11,780	7,461	78.9	19	Dec 13, 2024	J-GAAP
YoY	+9.0%	+23.3%	+23.1%	-48.6%	-47.0%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
May, 2023	446,713	14,620	14,448	9,787	100.4	34	Jul 4, 2023	J-GAAP
May, 2024	471,682	16,953	16,677	19,139	196.5	36	Jul 3, 2024	J-GAAP
May, 2025 Guidance	500,000	18,000	17,700	11,200	118.5	38	Jul 3, 2024	J-GAAP
YoY	+6.0%	+6.2%	+6.1%	-41.5%	-39.7%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Sep - Nov, 2023	118,214	4,415	4,377	2,908	29.8	3.7	Dec 15, 2023	J-GAAP
Dec - Feb, 2023	118,775	5,251	5,186	11,509	118.1	4.4	Mar 15, 2024	J-GAAP
Mar - May, 2024	121,619	4,460	4,387	2,993	30.7	3.7	Jul 3, 2024	J-GAAP
Jun - Aug, 2024	118,384	2,574	2,510	1,544	16.1	2.2	Sep 13, 2024	J-GAAP
Sep - Nov, 2024	119,548	3,454	3,410	2,195	23.0	2.9	Dec 13, 2024	J-GAAP
YoY	+1.1%	-21.8%	-22.1%	-24.5%	-23.1%