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KFC,Ltd., First Half Ordinary Profit Decreases by 58%, July-September Ordinary Profit Decreases by 31%

Thu Nov 7, 2024 1:00 pm JST Earnings

3420 KFC,Ltd. 【J-GAAP】

Earnings Report

KFC,Ltd. <3420> [TSE-S] announced its financial results in the afternoon session on November 7th (13:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) significantly dropped by 58.1% from the same period last year to 138 million yen. The progress rate against the 1.4 billion yen full-year plan was 9.9%, also falling below the five-year average of 25.8%.

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 9.3% from the same period last year to 1.26 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit dropped to 151 million yen, a 31.4% decrease compared to the same period last year. The operating profit margin worsened from 3.4% in the same period last year to 2.0%.

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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 10,387 58 113 71 9.7 8.1 Nov 7, 2022 J-GAAP
Apr - Sep, 2023 10,855 282 329 214 29.2 19.1 Nov 1, 2023 J-GAAP
Apr - Sep, 2024 11,676 74 138 95 12.9 9.9 Nov 7, 2024 J-GAAP
YoY +7.6% -73.8% -58.1% -55.6% -55.7%

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 11,600 70 130 90 12.2 0 Nov 1, 2024 J-GAAP
Apr - Sep, 2024 Results 11,676 74 138 95 12.9 0 Nov 7, 2024 J-GAAP
Revision Rate +0.7% +5.7% +6.2% +5.6% +5.7%

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 14,215 1,339 1,391 963 130.9 60 May 15, 2024 J-GAAP
Oct - Mar, 2024 Guidance 14,324 1,226 1,262 850 115.5 50 Nov 7, 2024 J-GAAP
YoY +0.8% -8.4% -9.3% -11.7% -11.7%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 22,627 1,277 1,396 1,052 143.0 50 May 15, 2023 J-GAAP
Mar, 2024 25,070 1,621 1,720 1,177 159.9 60 May 15, 2024 J-GAAP
Mar, 2025 Guidance 26,000 1,300 1,400 945 128.4 50 May 15, 2024 J-GAAP
YoY +3.7% -19.8% -18.6% -19.7% -19.7%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 6,027 205 220 153 20.9 3.4 Nov 1, 2023 J-GAAP
Oct - Dec, 2023 7,277 553 579 396 53.8 7.6 Feb 5, 2024 J-GAAP
Jan - Mar, 2024 6,938 786 812 567 77.0 11.3 May 15, 2024 J-GAAP
Apr - Jun, 2024 5,626 -48 -13 -13 -1.9 -0.9 Aug 9, 2024 J-GAAP
Jul - Sep, 2024 6,050 122 151 108 14.7 2.0 Nov 7, 2024 J-GAAP
YoY +0.4% -40.5% -31.4% -29.4% -29.6%

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