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AGS Corporation, First Half Ordinary Profit Decreases by 12%

Wed Oct 30, 2024 4:00 pm JST Earnings

3648 AGS Corporation 【J-GAAP】

Earnings Report

AGS Corporation <3648> [TSE-S] announced its financial results after the market closed on October 30th (16:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) decreased by 11.6% from the same period last year to 622 million yen. The progress rate against the 1.37 billion yen full-year plan was 45.4%, also falling below the five-year average of 51.0%.

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 grow by 28.5% from the same period last year, reaching 748 million yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit amounted to 437 million yen, an increase of 0.7% compared to the same period last year. The operating profit margin remained almost flat, changing from 7.5% in the same period last year to 7.7%.

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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 10,026 368 394 255 14.3 43.3 Oct 28, 2022 J-GAAP
Apr - Sep, 2023 10,567 683 704 468 26.7 54.7 Oct 30, 2023 J-GAAP
Apr - Sep, 2024 10,931 585 622 408 24.2 45.4 Oct 30, 2024 J-GAAP
YoY +3.4% -14.3% -11.6% -12.8% -9.4%

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 10,800 550 570 390 23.2 8 May 13, 2024 J-GAAP
Apr - Sep, 2024 Results 10,931 585 622 408 24.2 8 Oct 30, 2024 J-GAAP
Revision Rate +1.2% +6.4% +9.1% +4.6% +4.3%

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 11,525 589 582 468 27.0 8 May 13, 2024 J-GAAP
Oct - Mar, 2024 Guidance 12,569 765 748 522 31.2 8 Oct 30, 2024 J-GAAP
YoY +9.1% +29.9% +28.5% +11.5% +15.5%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 21,066 873 910 682 38.4 11 May 11, 2023 J-GAAP
Mar, 2024 22,092 1,272 1,286 936 54.0 14.50 May 13, 2024 J-GAAP
Mar, 2025 Guidance 23,500 1,350 1,370 930 55.6 16 May 13, 2024 J-GAAP
YoY +6.4% +6.1% +6.5% -0.6% +2.9%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 5,729 432 434 288 16.4 7.5 Oct 30, 2023 J-GAAP
Oct - Dec, 2023 5,681 423 423 379 21.8 7.4 Jan 30, 2024 J-GAAP
Jan - Mar, 2024 5,844 166 159 89 5.1 2.8 May 13, 2024 J-GAAP
Apr - Jun, 2024 5,088 138 185 122 7.2 2.7 Jul 30, 2024 J-GAAP
Jul - Sep, 2024 5,843 447 437 286 16.9 7.7 Oct 30, 2024 J-GAAP
YoY +2.0% +3.5% +0.7% -0.7% +3.2%

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