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Canare Electric, 2% Increase in Ordinary Profit for The Current Fiscal Year, Increased Previous Year's Dividend by 1 yen, Plan to Continue the 57 yen Policy This Fiscal Year as Well

Thu Jan 30, 2025 4:00 pm JST Earnings

5819 Canare Electric Co., Ltd. 【J-GAAP】

Earnings Report

Canare Electric Co., Ltd. <5819> [TSE Std] announced its financial results after the market closed on January 30th (16:00). The consolidated ordinary profit for the fiscal year ending December 2024 decreased 16.8% from the previous period to 1.44 billion yen. In the fiscal year ending December 2025, the profit is expected to grow by 2.3% to 1.48 billion yen.

At the same time, the company increased the annual dividend for the previous term from 56 yen to 57 yen (compared to 62 yen in the prior term), and has decided to continue with a dividend of 57 yen for the current term as well.

In the most recent three-month period, from October to December (4Q), the consolidated ordinary profit dropped to 0.37 billion yen, a 34.3% decrease compared to the same period last year. The operating profit margin decreased from 14.3% in the same period last year to 10.4%.

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Actual Results

Historical Performance
Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Dec, 2022 11,167 1,177 1,260 868 128.7 35 Jan 27, 2023 J-GAAP
Dec, 2023 12,872 1,668 1,739 1,188 175.3 62 Jan 26, 2024 J-GAAP
Dec, 2024 12,383 1,389 1,447 1,039 152.6 57 Jan 30, 2025 J-GAAP
YoY -3.8% -16.7% -16.8% -12.5% -12.9%

Full Year Results vs. Previous Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Dec, 2024 Guidance 12,845 1,330 1,380 980 143.8 56 Jan 26, 2024 J-GAAP
Dec, 2024 Results 12,383 1,389 1,447 1,039 152.6 57 Jan 30, 2025 J-GAAP
Revision Rate -3.6% +4.4% +4.9% +6.0% +6.2%

Current Period Guidance

H1 Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Jan - Jun, 2024 6,028 642 719 502 73.9 28 Jul 30, 2024 J-GAAP
Jan - Jun, 2025 Guidance 6,210 590 620 440 64.3 28 Jan 30, 2025 J-GAAP
YoY +3.0% -8.1% -13.8% -12.4% -12.9%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Dec, 2023 12,872 1,668 1,739 1,188 175.3 62 Jan 26, 2024 J-GAAP
Dec, 2024 12,383 1,389 1,447 1,039 152.6 57 Jan 30, 2025 J-GAAP
Dec, 2025 Guidance 12,920 1,430 1,480 1,050 153.5 57 Jan 30, 2025 J-GAAP
YoY +4.3% +3.0% +2.3% +1.1% +0.6%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Oct - Dec, 2023 3,832 549 569 340 50.2 14.3 Jan 26, 2024 J-GAAP
Jan - Mar, 2024 3,172 394 425 342 50.4 12.4 Apr 26, 2024 J-GAAP
Apr - Jun, 2024 2,856 248 294 160 23.5 8.7 Jul 30, 2024 J-GAAP
Jul - Sep, 2024 2,928 392 354 314 46.1 13.4 Oct 30, 2024 J-GAAP
Oct - Dec, 2024 3,427 355 374 223 32.8 10.4 Jan 30, 2025 J-GAAP
YoY -10.6% -35.3% -34.3% -34.4% -34.7%

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