OTEC, The Current Fiscal Year Ordinary Profit Revised Upward by 19%, Exceeded Record Profit Forecast, Dividend Revised Upward by 30 yen

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Fri Feb 7, 2025 3:30 pm JST Earnings

1736 OTEC CORPORATION 【J-GAAP】

Earnings Report

OTEC CORPORATION <1736> [TSE Std] announced its financial results after the market closed on February 7th (15:30). The consolidated ordinary profit for the cumulative third quarter of the fiscal year ending March 2025 (April to December) expanded 2.24 billion yen, an increase 34.1% compared to the same period last year.

In addition, the full-year consolidated ordinary profit has been revised upward 19.4%, from the previous forecast of 3.1 billion yen to 3.7 billion yen (compared to 2.17 billion yen in the previous period), increasing the growth rate from 42.7% to 70.3%. The company has further increased its previous forecast of record profits for the first time in five years.

Based on the full-year plan announced by the company after the upward revision, our estimate of the consolidated ordinary profit for the October to March period (2H) is expected to increase 26.2%, from the previous forecast of 2.28 billion yen to 2.88 billion yen (compared to 1.52 billion yen in the same period of the previous year), increasing the growth rate from 49.9% to 89.2%.

In light of the strong performance, the company has increased its planned year-end lump-sum dividend for the current fiscal year from the original plan of 130 yen to 160 yen (compared to 125 yen in the previous period).

In the most recent three-month period, from October to December (3Q), the consolidated ordinary profit increased 39.4% from the same period last year, reaching 1.43 billion yen. The operating profit margin rose from 12.0% in the same period last year to 15.6%.

Kabutan News

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
Apr - Dec, 2022	17,365	797	863	448	28.5	42.3	Feb 10, 2023	J-GAAP
Apr - Dec, 2023	20,450	1,558	1,677	953	62.2	77.2	Feb 9, 2024	J-GAAP
Apr - Dec, 2024	21,302	2,088	2,249	1,439	93.3	60.8	Feb 7, 2025	J-GAAP
YoY	+4.2%	+34.0%	+34.1%	+51.0%	+50.1%

Guidance Update

Second Half Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Oct - Mar, 2024 Prev	17,626	2,305	2,287	1,509	97.4	43.33	Nov 8, 2024	J-GAAP
Oct - Mar, 2024 New	18,826	2,785	2,887	1,909	123.2	53.33	Feb 7, 2025	J-GAAP
Revision Rate	+6.8%	+20.8%	+26.2%	+26.5%	+26.5%

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	30,000	3,000	3,100	2,000	129.1	43.33	May 13, 2024	J-GAAP
Mar, 2025 New	31,200	3,480	3,700	2,400	154.9	53.33	Feb 7, 2025	J-GAAP
Revision Rate	+4.0%	+16.0%	+19.4%	+20.0%	+20.0%

Current Period Guidance

Second Half Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Oct - Mar, 2023	17,260	1,470	1,526	1,053	68.7	41.67	May 13, 2024	J-GAAP
Oct - Mar, 2024 Guidance	18,826	2,785	2,887	1,909	123.2	53.33	Feb 7, 2025	J-GAAP
YoY	+9.1%	+89.5%	+89.2%	+81.3%	+79.4%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	26,138	1,953	2,038	1,246	79.6	28.33	May 12, 2023	J-GAAP
Mar, 2024	29,374	2,026	2,173	1,386	90.4	41.67	May 13, 2024	J-GAAP
Mar, 2025 Guidance	31,200	3,480	3,700	2,400	154.9	53.33	Feb 7, 2025	J-GAAP
YoY	+6.2%	+71.8%	+70.3%	+73.2%	+71.3%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Oct - Dec, 2023	8,336	1,002	1,030	620	40.5	12.0	Feb 9, 2024	J-GAAP
Jan - Mar, 2024	8,924	468	496	433	28.3	5.2	May 13, 2024	J-GAAP
Apr - Jun, 2024	5,668	54	139	48	3.2	1.0	Aug 8, 2024	J-GAAP
Jul - Sep, 2024	6,706	641	674	443	28.8	9.6	Nov 8, 2024	J-GAAP
Oct - Dec, 2024	8,928	1,393	1,436	948	61.5	15.6	Feb 7, 2025	J-GAAP
YoY	+7.1%	+39.0%	+39.4%	+52.9%	+52.0%