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SHIFT Inc., 26% Increase in Ordinary Profit, Record High for The First Time in Two Years

Thu Oct 10, 2024 3:00 pm JST Earnings

3697 SHIFT Inc. 【J-GAAP】

Earnings Report

SHIFT Inc. <3697> [TSE-P] announced its financial results after the market closed on October 10th (15:00). The consolidated ordinary profit for the fiscal year ending August 2024 decreased by 10.4% from the previous period to 10.7 billion yen. For the fiscal year ending August 2025, the profit is expected to expand to 25.5% to 13.5 billion yenExpected to reach record high profits for the first time in two years. This will be the sixteenth consecutive term of revenue growth.

In the most recent three-month period, from June to August (4Q), the consolidated ordinary profit grew by 3.7% from the same period last year, reaching 3.49 billion yen. However, the operating profit margin decreased from 13.5% in the same period last year to 11.8%.

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Actual Results

Historical Performance
Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Aug, 2022 64,873 6,913 7,552 4,974 18.9 0 Oct 14, 2022 J-GAAP
Aug, 2023 88,030 11,565 12,000 6,245 23.6 0 Oct 12, 2023 J-GAAP
Aug, 2024 110,627 10,537 10,753 5,127 19.4 0 Oct 10, 2024 J-GAAP
YoY +25.7% -8.9% -10.4% -17.9% -17.8%

Full Year Results vs. Previous Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Aug, 2024 Guidance 118,000 13,100 13,100 8,650 32.8 0 Oct 12, 2023 J-GAAP
Aug, 2024 Results 110,627 10,537 10,753 5,127 19.4 0 Oct 10, 2024 J-GAAP
Revision Rate -6.2% -19.6% -17.9% -40.7% -40.7%

Current Period Guidance

H1 Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Sep - Feb, 2023 52,305 4,683 4,831 2,982 11.3 0 Apr 11, 2024 J-GAAP
Sep - Feb, 2024 Guidance 0 Oct 10, 2024 J-GAAP
YoY

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Aug, 2023 88,030 11,565 12,000 6,245 23.6 0 Oct 12, 2023 J-GAAP
Aug, 2024 110,627 10,537 10,753 5,127 19.4 0 Oct 10, 2024 J-GAAP
Aug, 2025 Guidance 130,000 13,500 13,500 7,900 30.0 0 Oct 10, 2024 J-GAAP
YoY +17.5% +28.1% +25.5% +54.1% +54.5%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jun - Aug, 2023 24,675 3,331 3,365 2,266 8.6 13.5 Oct 12, 2023 J-GAAP
Sep - Nov, 2023 25,073 1,813 1,882 1,093 4.2 7.2 Jan 12, 2024 J-GAAP
Dec - Feb, 2023 27,232 2,870 2,949 1,889 7.2 10.5 Apr 11, 2024 J-GAAP
Mar - May, 2024 28,838 2,372 2,424 333 1.3 8.2 Jul 10, 2024 J-GAAP
Jun - Aug, 2024 29,484 3,482 3,498 1,812 6.9 11.8 Oct 10, 2024 J-GAAP
YoY +19.5% +4.5% +4.0% -20.0% -19.9%

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