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FIRST BAKING CO.,LTD., January-September (Third Quarter Cumulative) Ordinary Profit Increases by 92%, Exceeds Full-Year Plan

Thu Nov 14, 2024 4:00 pm JST Earnings

2215 FIRST BAKING CO.,LTD. 【J-GAAP】

Earnings Report

FIRST BAKING CO.,LTD. <2215> [TSE-S] announced its financial results after the market closed on November 14th (16:00). The consolidated ordinary profit for the cumulative third quarter of the fiscal year ending December 2024 (January to September) expanded to 548 million yen, an increase of 92.3% compared to the same period last year. The progress rate against the full-year plan of 540 million yen is 101.5%, already exceeding the target and also exceeding the same period of the previous year of 46.2%.

Based on the third-quarter cumulative performance announced by the company and the unchanged full-year plan, our calculation indicates that the consolidated ordinary profit/loss for the October to December period (4Q) is expected to turn into a loss of 8 million yen (compared to a profit of 332 million yen in the same period last year).

In the most recent three-month period, from July to September (3Q), the consolidated ordinary profit significantly dropped to 84 million yen, a 69.1% decrease compared to the same period last year. The operating profit margin worsened from 4.1% in the same period last year to 1.1%.

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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
Jan - Sep, 2022 17,703 -406 -414 -891 -128.8 ー Nov 14, 2022 J-GAAP
Jan - Sep, 2023 19,480 267 285 251 36.3 46.2 Nov 14, 2023 J-GAAP
Jan - Sep, 2024 20,276 550 548 1,888 272.8 101.5 Nov 14, 2024 J-GAAP
YoY +4.1% +106.0% +92.3% +652.2% +651.2%

Current Period Guidance

Second Half Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Jul - Dec, 2023 13,638 601 604 487 70.4 0 Feb 14, 2024 J-GAAP
Jul - Dec, 2024 Guidance 14,224 96 76 -266 -38.4 0 Aug 14, 2024 J-GAAP
YoY +4.3% -84.0% -87.4% － －

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Dec, 2022 24,552 -547 -554 -1,145 -165.5 0 Feb 17, 2023 J-GAAP
Dec, 2023 26,442 597 617 474 68.5 0 Feb 14, 2024 J-GAAP
Dec, 2024 Guidance 27,790 570 540 1,600 231.1 0 May 29, 2024 J-GAAP
YoY +5.1% -4.5% -12.5% +237.6% +237.3%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 6,676 271 272 264 38.2 4.1 Nov 14, 2023 J-GAAP
Oct - Dec, 2023 6,962 330 332 223 32.2 4.7 Feb 14, 2024 J-GAAP
Jan - Mar, 2024 6,665 304 304 276 39.9 4.6 May 15, 2024 J-GAAP
Apr - Jun, 2024 6,901 170 160 1,590 229.7 2.5 Aug 14, 2024 J-GAAP
Jul - Sep, 2024 6,710 76 84 22 3.2 1.1 Nov 14, 2024 J-GAAP
YoY +0.5% -72.0% -69.1% -91.7% -91.7%

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