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HONEYS HOLDINGS, First Half Ordinary Profit Decreases by 9%, Sep-Nov Ordinary Profit Decreases by 17%

Wed Jan 8, 2025 3:30 pm JST Earnings

2792 HONEYS HOLDINGS CO.,LTD. 【J-GAAP】

Earnings Report

HONEYS HOLDINGS CO.,LTD. <2792> [TSE Prime] announced its financial results after the market closed on January 8th (15:30). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending May 2025 (June to November) decreased 9.3% from the same period last year to 3.32 billion yen. The progress rate toward the full-year plan of 7.5 billion yen was 44.4%, also falling below the five-year average of 57.6%.

Based on the first-half performance announced by the company and the full-year plan, our calculation indicates that the consolidated ordinary profit for the December to May period (2H) is expected to grow 15.6% from the same period last year, reaching 4.17 billion yen.

In the most recent three-month period, from September to November (2Q), the consolidated ordinary profit decreased to 1.69 billion yen, a 16.7% decrease compared to the same period last year. The operating profit margin decreased from 13.7% in the same period last year to 13.6%.

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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
Jun - Nov, 2022 26,067 3,085 3,296 2,173 78.0 41.1 Jan 6, 2023 J-GAAP
Jun - Nov, 2023 27,569 3,595 3,670 2,427 87.1 50.4 Jan 10, 2024 J-GAAP
Jun - Nov, 2024 29,488 3,295 3,327 2,080 74.6 44.4 Jan 8, 2025 J-GAAP
YoY +7.0% -8.3% -9.3% -14.3% -14.3%

First Half Results vs. Previous Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Jun - Nov, 2024 Guidance 28,800 3,300 3,300 2,100 75.3 25 Jul 9, 2024 J-GAAP
Jun - Nov, 2024 Results 29,488 3,295 3,327 2,080 74.6 25 Jan 8, 2025 J-GAAP
Revision Rate +2.4% -0.2% +0.8% -1.0% -0.9%

Guidance Update

Full Year Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
May, 2025 Prev 59,000 7,400 7,500 4,900 175.8 55 Jul 9, 2024 J-GAAP
May, 2025 New 59,500 7,400 7,500 4,900 175.8 55 Jan 8, 2025 J-GAAP
Revision Rate +0.8% 0.0% 0.0% 0.0% 0.0%

Current Period Guidance

Second Half Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Dec - May, 2023 29,002 3,375 3,611 2,449 87.9 30 Jul 9, 2024 J-GAAP
Dec - May, 2024 Guidance 30,012 4,105 4,173 2,820 101.2 30 Jan 8, 2025 J-GAAP
YoY +3.5% +21.6% +15.6% +15.1% +15.1%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
May, 2023 54,888 7,670 8,021 5,336 191.5 50 Jul 11, 2023 J-GAAP
May, 2024 56,571 6,970 7,281 4,876 175.0 55 Jul 9, 2024 J-GAAP
May, 2025 Guidance 59,500 7,400 7,500 4,900 175.8 55 Jan 8, 2025 J-GAAP
YoY +5.2% +6.2% +3.0% +0.5% +0.4%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Sep - Nov, 2023 14,552 1,988 2,035 1,377 49.4 13.7 Jan 10, 2024 J-GAAP
Dec - Feb, 2023 12,178 326 501 365 13.1 2.7 Mar 28, 2024 J-GAAP
Mar - May, 2024 16,824 3,049 3,110 2,084 74.8 18.1 Jul 9, 2024 J-GAAP
Jun - Aug, 2024 14,308 1,233 1,632 1,081 38.8 8.6 Sep 26, 2024 J-GAAP
Sep - Nov, 2024 15,180 2,062 1,695 999 35.9 13.6 Jan 8, 2025 J-GAAP
YoY +4.3% +3.7% -16.7% -27.5% -27.5%

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