Vario Secure, Mar-Nov (Cumulative 3Q) Net Income Decreases by 10%, Sep-Nov Net Income Decreases by 20%

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Fri Jan 10, 2025 3:30 pm JST Earnings

4494 Vario Secure Inc. 【IFRS】

Earnings Report

Vario Secure Inc. <4494> [TSE Std] announced its financial results (based on IFRS) after the market closed on January 10th (15:30). The net income (non-consolidated) for the cumulative third quarter of the fiscal year ending February 2025 (March to November) decreased 9.7% from the same period last year to 260 million yen. The progress rate toward the full-year plan of 336 million yen was 77.4%, below the five-year average of 81.7%.

Based on the cumulative third-quarter performance announced by the company and the unchanged full-year plan, our calculation indicates that the net income for the December to February period (4Q) is expected to grow 28.8% from the same period last year, reaching 76 million yen.

In the most recent three-month period, from September to November (3Q), the net income decreased to 78 million yen, a 20.4% decrease compared to the same period last year. The operating profit margin decreased from 21.9% in the same period last year to 18.1%.

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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
Mar - Nov, 2022	1,984	564	528	370	93.4	97.4	Jan 10, 2023	IFRS
Mar - Nov, 2023	1,974	436	427	288	63.9	83.9	Jan 11, 2024	IFRS
Mar - Nov, 2024	2,007	391	379	260	57.7	80.0	Jan 10, 2025	IFRS
YoY	+1.7%	-10.3%	-11.2%	-9.7%	-9.8%

Current Period Guidance

Second Half Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Sep - Feb, 2023	1,334	230	224	157	34.4	0	Apr 10, 2024	IFRS
Sep - Feb, 2024 Guidance	1,399	212	209	154	34.1	0	Oct 11, 2024	IFRS
YoY	+4.9%	-7.8%	-6.7%	-1.9%	-1.1%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Feb, 2023	2,634	581	542	383	93.4	40.50	Apr 12, 2023	IFRS
Feb, 2024	2,640	520	509	347	76.1	0	Apr 10, 2024	IFRS
Feb, 2025 Guidance	2,753	485	474	336	74.3	0	Apr 10, 2024	IFRS
YoY	+4.3%	-6.7%	-6.9%	-3.2%	-2.4%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Sep - Nov, 2023	668	146	142	98	21.7	21.9	Jan 11, 2024	IFRS
Dec - Feb, 2023	666	84	82	59	12.9	12.6	Apr 10, 2024	IFRS
Mar - May, 2024	673	151	146	100	22.3	22.4	Jul 10, 2024	IFRS
Jun - Aug, 2024	681	122	119	82	18.2	17.9	Oct 11, 2024	IFRS
Sep - Nov, 2024	653	118	114	78	17.3	18.1	Jan 10, 2025	IFRS
YoY	-2.2%	-19.2%	-19.7%	-20.4%	-20.4%