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WATTS CO., LTD., 6% Increase in Ordinary Profit for The Current Fiscal Year

Thu Oct 10, 2024 3:30 pm JST Earnings

2735 WATTS CO., LTD. 【J-GAAP】

Earnings Report

WATTS CO., LTD. <2735> [TSE-S] announced its financial results after the market closed on October 10th (15:30). The consolidated ordinary profit for the fiscal year ending August 2024 expanded to 89.5% from the previous period to 1.22 billion yen. For the fiscal year ending August 2025, the profit is expected to grow by 5.9% to 1.3 billion yen. This will be the fourth consecutive term of revenue growth.

At the same time, the company plans to remove the special dividend of the previous term and set the dividend for this term at an ordinary dividend of 15 yen.

In the most recent three-month period, from June to August (4Q), the consolidated ordinary profit dropped to 159 million yen, a 42.4% decrease compared to the same period last year. The operating profit margin worsened from 1.7% in the same period last year to 1.2%.

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Actual Results

Historical Performance
Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Aug, 2022 58,347 998 1,148 781 57.8 15 Oct 11, 2022 J-GAAP
Aug, 2023 59,309 621 648 250 18.5 15 Oct 10, 2023 J-GAAP
Aug, 2024 61,257 1,246 1,228 904 68.5 20 Oct 10, 2024 J-GAAP
YoY +3.3% +100.6% +89.5% +261.6% +270.8%

Full Year Results vs. Previous Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Aug, 2024 Guidance 61,257 1,246 1,228 904 68.5 20 Oct 3, 2024 J-GAAP
Aug, 2024 Results 61,257 1,246 1,228 904 68.5 20 Oct 10, 2024 J-GAAP
Revision Rate 0.0% 0.0% 0.0% 0.0% 0.0%

Current Period Guidance

H1 Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Sep - Feb, 2023 30,255 743 749 436 32.9 0 Apr 10, 2024 J-GAAP
Sep - Feb, 2024 Guidance 30,500 750 750 450 34.1 7.50 Oct 10, 2024 J-GAAP
YoY +0.8% +0.9% +0.1% +3.2% +3.6%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Aug, 2023 59,309 621 648 250 18.5 15 Oct 10, 2023 J-GAAP
Aug, 2024 61,257 1,246 1,228 904 68.5 20 Oct 10, 2024 J-GAAP
Aug, 2025 Guidance 62,000 1,350 1,300 950 71.8 15 Oct 10, 2024 J-GAAP
YoY +1.2% +8.3% +5.9% +5.1% +4.9%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jun - Aug, 2023 14,878 251 276 -56 -4.1 1.7 Oct 10, 2023 J-GAAP
Sep - Nov, 2023 14,813 190 197 90 6.8 1.3 Jan 12, 2024 J-GAAP
Dec - Feb, 2023 15,442 553 552 346 26.1 3.6 Apr 10, 2024 J-GAAP
Mar - May, 2024 15,349 311 320 324 24.5 2.0 Jul 10, 2024 J-GAAP
Jun - Aug, 2024 15,653 192 159 144 10.9 1.2 Oct 10, 2024 J-GAAP
YoY +5.2% -23.5% -42.4% － －

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