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UNITED, Inc., First Half Ordinary Profit Decreases by 53%, Exceeds Full-Year Plan

Wed Nov 13, 2024 3:30 pm JST Earnings

2497 UNITED, Inc. 【J-GAAP】

Earnings Report

UNITED, Inc. <2497> [TSE-G] announced its financial results after the market closed on November 13th (15:30). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) significantly dropped by 53.2% from the same period last year to 2.52 billion yen. The progress rate against the full-year plan of 2.25 billion yen is 112.0%, already exceeding the target and also exceeding the five-year average of 78.6%.

Based on the first-half performance announced by the company and the unchanged full-year plan, our calculation indicates that the consolidated ordinary loss for the October to March period (second half) is expected to further decrease to loss of 270 million yen (compared to a loss of 550 million yen in the same period last year).

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit/loss turned to a loss of 378 million yen (compared to a profit of 13 million yen in the same period last year). The operating profit/loss margin drastically worsened from 0.4% in the same period last year to -21.7%.

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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 6,637 3,136 3,146 2,374 59.4 53.8 Nov 9, 2022 J-GAAP
Apr - Sep, 2023 9,170 5,368 5,379 3,080 78.8 111.4 Nov 9, 2023 J-GAAP
Apr - Sep, 2024 6,326 2,572 2,520 1,628 41.5 112.0 Nov 13, 2024 J-GAAP
YoY -31.0% -52.1% -53.2% -47.1% -47.3%

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 ー ー ー ー － 24 May 9, 2024 J-GAAP
Apr - Sep, 2024 Results 6,326 2,572 2,520 1,628 41.5 24 Nov 13, 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 3,403 -509 -550 -714 -18.2 24 May 9, 2024 J-GAAP
Oct - Mar, 2024 Guidance 3,524 -322 -270 -303 -7.7 24 Nov 13, 2024 J-GAAP
YoY +3.6% +36.7% +50.9% +57.6% +57.7%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 13,140 5,823 5,851 4,139 104.7 21.50 May 10, 2023 J-GAAP
Mar, 2024 12,573 4,859 4,829 2,366 60.4 48 May 9, 2024 J-GAAP
Mar, 2025 Guidance 9,850 2,250 2,250 1,325 33.7 48 May 9, 2024 J-GAAP
YoY -21.7% -53.7% -53.4% -44.0% -44.2%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 1,946 7 13 -605 -15.5 0.4 Nov 9, 2023 J-GAAP
Oct - Dec, 2023 1,616 -405 -407 -405 -10.4 -25.1 Feb 8, 2024 J-GAAP
Jan - Mar, 2024 1,787 -104 -143 -309 -7.9 -5.8 May 9, 2024 J-GAAP
Apr - Jun, 2024 4,711 2,922 2,898 1,929 49.2 62.0 Aug 7, 2024 J-GAAP
Jul - Sep, 2024 1,615 -350 -378 -301 -7.7 -21.7 Nov 13, 2024 J-GAAP
YoY -17.0% － － +50.2% +50.4%

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