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TOA ROAD CORPORATION, First Half Ordinary Profit Decreases by 60%

Fri Nov 8, 2024 3:00 pm JST Earnings

1882 TOA ROAD CORPORATION 【J-GAAP】

Earnings Report

TOA ROAD CORPORATION <1882> [TSE-P] announced its financial results in the afternoon session on November 8th (15:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) significantly dropped by 59.7% from the same period last year to 321 million yen, fell short of the previous forecast of 550 million yen.

The progress rate against the 6.1 billion yen full-year plan was 5.3%, also falling below the five-year average of 9.7%.

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 grow by 17.7% from the same period last year, reaching 5.77 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit decreased to 1.01 billion yen, a 28.4% decrease compared to the same period last year. The operating profit margin worsened from 4.7% in the same period last year to 3.2%.

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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 50,324 -52 81 14 0.3 1.6 Nov 11, 2022 J-GAAP
Apr - Sep, 2023 50,824 629 796 487 10.2 13.9 Nov 8, 2023 J-GAAP
Apr - Sep, 2024 53,881 177 321 602 13.0 5.3 Nov 8, 2024 J-GAAP
YoY +6.0% -71.9% -59.7% +23.6% +27.3%

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 50,500 540 550 280 6.1 － May 10, 2024 J-GAAP
Apr - Sep, 2024 Results 53,881 177 321 602 13.0 － Nov 8, 2024 J-GAAP
Revision Rate +6.7% -67.2% -41.6% +115.0% +115.5%

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 67,236 4,844 4,911 3,306 69.7 42 May 10, 2024 J-GAAP
Oct - Mar, 2024 Guidance 72,119 5,823 5,779 3,298 71.3 52 Nov 8, 2024 J-GAAP
YoY +7.3% +20.2% +17.7% -0.2% +2.3%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 118,721 4,736 4,957 3,160 66.7 18 May 12, 2023 J-GAAP
Mar, 2024 118,060 5,473 5,707 3,793 79.9 42 May 10, 2024 J-GAAP
Mar, 2025 Guidance 126,000 6,000 6,100 3,900 84.3 52 Aug 2, 2024 J-GAAP
YoY +6.7% +9.6% +6.9% +2.8% +5.4%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 28,738 1,342 1,413 905 19.0 4.7 Nov 8, 2023 J-GAAP
Oct - Dec, 2023 32,492 1,670 1,695 1,067 22.4 5.1 Feb 9, 2024 J-GAAP
Jan - Mar, 2024 34,744 3,174 3,216 2,239 47.2 9.1 May 10, 2024 J-GAAP
Apr - Jun, 2024 23,300 -803 -691 -439 -9.5 -3.4 Aug 2, 2024 J-GAAP
Jul - Sep, 2024 30,581 980 1,012 1,041 22.6 3.2 Nov 8, 2024 J-GAAP
YoY +6.4% -27.0% -28.4% +15.0% +18.5%

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