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CHIMNEY CO., LTD., First Half Ordinary Profit Decreases by 27%, July-September Ordinary Profit Decreases by 76%

Tue Nov 12, 2024 3:30 pm JST Earnings

3178 CHIMNEY CO., LTD. 【J-GAAP】

Earnings Report

CHIMNEY CO., LTD. <3178> [TSE-S] announced its financial results after the market closed on November 12th (15:30). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) decreased by 27.0% from the same period last year to 360 million yen. The progress rate against the 1.3 billion yen full-year plan was 27.7%, also falling below the same period of the previous year of 34.1%.

Based on the first-half performance announced by the company and the unchanged full-year plan, our calculation indicates that the consolidated ordinary profit for the October to March period (second half) is expected to decrease by 1.4% from the same period last year to 940 million yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit significantly dropped to 63 million yen, a 76.0% decrease compared to the same period last year. The operating profit margin worsened from 3.6% in the same period last year to 0.8%.

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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 8,803 -1,489 -1,472 -1,583 -82.1 ー Nov 10, 2022 J-GAAP
Apr - Sep, 2023 12,345 418 493 207 10.8 34.1 Nov 9, 2023 J-GAAP
Apr - Sep, 2024 12,759 316 360 176 9.2 27.7 Nov 12, 2024 J-GAAP
YoY +3.4% -24.4% -27.0% -15.0% -14.7%

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 12,750 310 360 170 8.8 5 Oct 31, 2024 J-GAAP
Apr - Sep, 2024 Results 12,759 316 360 176 9.2 5 Nov 12, 2024 J-GAAP
Revision Rate +0.1% +1.9% 0.0% +3.5% +4.1%

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 13,380 882 953 731 37.9 5 May 14, 2024 J-GAAP
Oct - Mar, 2024 Guidance 13,541 844 940 664 34.4 5 Nov 12, 2024 J-GAAP
YoY +1.2% -4.3% -1.4% -9.2% -9.2%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 20,155 -1,667 -1,635 -2,016 -104.5 0 May 11, 2023 J-GAAP
Mar, 2024 25,725 1,300 1,446 938 48.7 5 May 14, 2024 J-GAAP
Mar, 2025 Guidance 26,300 1,160 1,300 840 43.5 10 Oct 31, 2024 J-GAAP
YoY +2.2% -10.8% -10.1% -10.4% -10.5%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 6,277 227 262 61 3.2 3.6 Nov 9, 2023 J-GAAP
Oct - Dec, 2023 6,945 595 636 548 28.4 8.6 Feb 8, 2024 J-GAAP
Jan - Mar, 2024 6,435 287 317 183 9.5 4.5 May 14, 2024 J-GAAP
Apr - Jun, 2024 6,453 265 297 290 15.1 4.1 Aug 8, 2024 J-GAAP
Jul - Sep, 2024 6,306 51 63 -114 -5.9 0.8 Nov 12, 2024 J-GAAP
YoY +0.5% -77.5% -76.0% － －

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