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OTEC CORPORATION, First Half Ordinary Profit Increases by 26%, July-September Ordinary Profit Increases by 29%

Fri Nov 8, 2024 3:30 pm JST Earnings

1736 OTEC CORPORATION 【J-GAAP】

Earnings Report

OTEC CORPORATION <1736> [TSE-S] announced its financial results after the market closed on November 8th (15:30). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) increased by 25.7% from the same period last year, reaching 813 million yen. However, The progress rate against the 3.1 billion yen full-year plan was 26.2%, almost the same as the five-year average of 28.7%.

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 October to March period (second half) is expected to expand by 49.9% from the same period last year, reaching 2.28 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit grew by 28.9% from the same period last year, reaching 674 million yen. The operating profit margin improved from 7.9% in the same period last year to 9.6%.

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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
Apr - Sep, 2022 10,333 174 228 54 3.5 11.2 Nov 11, 2022 J-GAAP
Apr - Sep, 2023 12,114 556 647 333 21.7 29.8 Nov 13, 2023 J-GAAP
Apr - Sep, 2024 12,374 695 813 491 31.9 26.2 Nov 8, 2024 J-GAAP
YoY +2.1% +25.0% +25.7% +47.4% +47.0%

First Half Results vs. Previous Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Apr - Sep, 2024 Guidance ー ー ー ー － 0 May 13, 2024 J-GAAP
Apr - Sep, 2024 Results 12,374 695 813 491 31.9 0 Nov 8, 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
Oct - Mar, 2023 17,260 1,470 1,526 1,053 68.7 41.67 May 13, 2024 J-GAAP
Oct - Mar, 2024 Guidance 17,626 2,305 2,287 1,509 97.4 43.33 Nov 8, 2024 J-GAAP
YoY +2.1% +56.8% +49.9% +43.3% +41.8%

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 30,000 3,000 3,100 2,000 129.1 43.33 May 13, 2024 J-GAAP
YoY +2.1% +48.1% +42.7% +44.3% +42.8%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 6,492 512 523 316 20.6 7.9 Nov 13, 2023 J-GAAP
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
YoY +3.3% +25.2% +28.9% +40.2% +39.7%

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