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

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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	72.0	15	Oct 10, 2024	J-GAAP
YoY	+1.2%	+8.3%	+5.9%	+5.1%	+5.2%

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%	－	－