NOVAC, First Half Ordinary Profit Decreases by 72%, Aug-Oct Ordinary Profit Decreases by 86%

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Fri Dec 13, 2024 4:00 pm JST Earnings

5079 NOVAC CO.,LTD. 【J-GAAP】

Earnings Report

NOVAC CO.,LTD. <5079> [TSE Std] announced its financial results after the market closed on December 13th (16:00). The ordinary profit (non-consolidated) for the cumulative second quarter of the fiscal year ending April 2025 (May to October) significantly dropped 72.5% from the same period last year to 131 million yen. The progress rate toward the full-year plan of 1.5 billion yen was 8.7%, also falling below the four-year average of 67.9%.

Based on the first-half performance announced by the company and the unchanged full-year plan, our calculation indicates that the ordinary profit for the November to April period (second half) is expected to surge 7.4 times that of the same period last year, reaching 1.36 billion yen.

In the most recent three-month period, from August to October (2Q), the ordinary profit significantly dropped to 56 million yen, a 85.6% decrease compared to the same period last year. The operating profit margin drastically worsened from 4.5% in the same period last year to 1.0%.

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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	16,624	1,747	1,737	1,490	289.3	67.2	Dec 15, 2022	J-GAAP
May - Oct, 2023	16,303	470	476	327	63.6	71.9	Dec 15, 2023	J-GAAP
May - Oct, 2024	12,996	138	131	78	15.2	8.7	Dec 13, 2024	J-GAAP
YoY	-20.3%	-70.6%	-72.5%	-76.1%	-76.1%

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	－	60	Jun 14, 2024	J-GAAP
May - Oct, 2024 Results	12,996	138	131	78	15.2	60	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
Nov - Apr, 2023	18,128	340	186	-40	-7.8	80	Jun 14, 2024	J-GAAP
Nov - Apr, 2024 Guidance	19,004	1,412	1,369	922	179.0	60	Dec 13, 2024	J-GAAP
YoY	+4.8%	+315.3%	+636.0%	－	－

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Apr, 2023	31,948	2,607	2,585	2,054	398.9	120	Jun 14, 2023	J-GAAP
Apr, 2024	34,431	810	662	287	55.8	160	Jun 14, 2024	J-GAAP
Apr, 2025 Guidance	32,000	1,550	1,500	1,000	194.2	120	Jun 14, 2024	J-GAAP
YoY	-7.1%	+91.4%	+126.6%	+248.4%	+247.9%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Aug - Oct, 2023	8,760	390	388	263	51.1	4.5	Dec 15, 2023	J-GAAP
Nov - Jan, 2023	9,006	70	65	3	0.6	0.8	Mar 15, 2024	J-GAAP
Feb - Apr, 2024	9,122	270	121	-43	-8.4	3.0	Jun 14, 2024	J-GAAP
May - Jul, 2024	7,022	78	75	47	9.3	1.1	Sep 13, 2024	J-GAAP
Aug - Oct, 2024	5,974	60	56	31	6.0	1.0	Dec 13, 2024	J-GAAP
YoY	-31.8%	-84.6%	-85.6%	-88.2%	-88.2%