FELISSIMO CORPORATION, First Half Ordinary Profit Decreases by 54%

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Fri Oct 4, 2024 3:00 pm JST Earnings

3396 FELISSIMO CORPORATION 【J-GAAP】

Earnings Report

FELISSIMO CORPORATION <3396> [TSE-S] announced its financial results after the market closed on October 4th (15:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending February 2025 (March to August) significantly dropped by 54.3% from the same period last year to 16 million yen. The progress rate against the 450 million yen full-year plan was 3.6%, also falling below the five-year average of 66.2%.

Based on the first-half performance announced by the company and the unchanged full-year plan, our calculation indicates that the consolidated ordinary profit/loss for the September to February period (second half) is expected to turn into a profit of 434 million yen (compared to a loss of 647 million yen in the same period last year).

In the most recent three-month period, from June to August (2Q), the consolidated ordinary profit surged to 4.3 times that of the same period last year, reaching 17 million yen. The operating profit/loss margin improved from -1.4% in the same period last year to 1.2%.

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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
Mar - Aug, 2022	16,066	439	732	622	87.5	89.5	Oct 5, 2022	J-GAAP
Mar - Aug, 2023	15,056	-116	35	-46	-6.5	ー	Oct 5, 2023	J-GAAP
Mar - Aug, 2024	14,254	-15	16	-24	-3.5	3.6	Oct 4, 2024	J-GAAP
YoY	-5.3%	+87.1%	-54.3%	+47.8%	+46.3%

First Half Results vs. Previous Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar - Aug, 2024 Guidance	14,254	-15	16	-24	-3.4	0	Sep 27, 2024	J-GAAP
Mar - Aug, 2024 Results	14,254	-15	16	-24	-3.5	0	Oct 4, 2024	J-GAAP
Revision Rate	0.0%	0.0%	0.0%	0.0%	-4.2%

Current Period Guidance

Second Half Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Sep - Feb, 2023	14,551	-815	-647	-812	-114.0	15	Apr 5, 2024	J-GAAP
Sep - Feb, 2024 Guidance	16,951	384	434	409	57.4	15	Sep 27, 2024	J-GAAP
YoY	+16.5%	－	－	－	－

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Feb, 2023	32,160	440	818	671	94.3	15	Apr 7, 2023	J-GAAP
Feb, 2024	29,607	-931	-612	-858	-120.5	15	Apr 5, 2024	J-GAAP
Feb, 2025 Guidance	31,205	369	450	385	54.1	15	Apr 5, 2024	J-GAAP
YoY	+5.4%	－	－	－	－

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jun - Aug, 2023	7,263	-101	4	-33	-4.7	-1.4	Oct 5, 2023	J-GAAP
Sep - Nov, 2023	6,814	-648	-565	-611	-85.9	-9.5	Jan 10, 2024	J-GAAP
Dec - Feb, 2023	7,737	-167	-82	-201	-28.2	-2.2	Apr 5, 2024	J-GAAP
Mar - May, 2024	7,251	-102	-1	-69	-9.7	-1.4	Jul 5, 2024	J-GAAP
Jun - Aug, 2024	7,003	87	17	45	6.6	1.2	Oct 4, 2024	J-GAAP
YoY	-3.6%	－	+325.0%	－	－