PROPERST, First Half Ordinary Profit Decreases by 38%, Sep-Nov Ordinary Profit Decreases by 64%

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Tue Jan 14, 2025 3:30 pm JST Earnings

3236 PROPERST CO.,LTD. 【J-GAAP】

Earnings Report

PROPERST CO.,LTD. <3236> [TSE Std] announced its financial results after the market closed on January 14th (15:30). The ordinary profit (non-consolidated) for the cumulative second quarter of the fiscal year ending May 2025 (June to November) dropped 37.8% from the same period last year to 1.5 billion yen. The progress rate toward the full-year plan of 1.55 billion yen was 96.9%, almost the same as the five-year average of 94.8%.

Based on the first-half performance announced by the company and the unchanged full-year plan, our calculation indicates that the ordinary profit for the December to May period (2H) is expected to significant drop 71.4% from the same period last year to 0.04 billion yen.

In the most recent three-month period, from September to November (2Q), the ordinary profit significantly dropped to 0.43 billion yen, a 64.1% decrease compared to the same period last year. The operating profit margin decreased from 12.6% in the same period last year to 9.4%.

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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	14,747	2,300	2,099	1,568	45.7	100.0	Jan 10, 2023	J-GAAP
Jun - Nov, 2023	17,618	2,681	2,427	1,695	49.5	93.5	Jan 9, 2024	J-GAAP
Jun - Nov, 2024	15,902	1,796	1,509	1,044	30.8	96.9	Jan 14, 2025	J-GAAP
YoY	-9.7%	-33.0%	-37.8%	-38.4%	-37.7%

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	ー	ー	ー	ー	－	0	Jul 8, 2024	J-GAAP
Jun - Nov, 2024 Results	15,902	1,796	1,509	1,044	30.8	0	Jan 14, 2025	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
Dec - May, 2023	5,683	375	168	125	3.7	4	Jul 8, 2024	J-GAAP
Dec - May, 2024 Guidance	10,900	195	48	46	1.4	4	Jan 14, 2025	J-GAAP
YoY	+91.8%	-48.0%	-71.4%	-63.2%	-62.4%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
May, 2023	20,015	2,557	2,098	1,562	45.6	2	Jul 10, 2023	J-GAAP
May, 2024	23,301	3,056	2,595	1,820	53.4	4	Jul 8, 2024	J-GAAP
May, 2025 Guidance	26,802	1,991	1,557	1,090	32.6	4	Jul 8, 2024	J-GAAP
YoY	+15.0%	-34.8%	-40.0%	-40.1%	-38.9%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Sep - Nov, 2023	10,490	1,325	1,209	852	24.9	12.6	Jan 9, 2024	J-GAAP
Dec - Feb, 2023	3,045	377	286	197	5.8	12.4	Apr 8, 2024	J-GAAP
Mar - May, 2024	2,638	-2	-118	-72	-2.1	-0.1	Jul 8, 2024	J-GAAP
Jun - Aug, 2024	9,887	1,233	1,075	744	21.9	12.5	Oct 15, 2024	J-GAAP
Sep - Nov, 2024	6,015	563	434	300	8.9	9.4	Jan 14, 2025	J-GAAP
YoY	-42.7%	-57.5%	-64.1%	-64.8%	-64.4%