Systems Engineering Consultants Co.,LTD., The Current Fiscal Year Ordinary Profit Revised Upward by 7%, Adds to Record High Profit Forecast, Dividend Revised Upward by 7 yen

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Mon Nov 11, 2024 3:45 pm JST Earnings

3741 Systems Engineering Consultants Co.,LTD. 【J-GAAP】

Earnings Report

Systems Engineering Consultants Co.,LTD. <3741> [TSE-P] announced its financial results after the market closed on November 11th (15:45). The ordinary profit (non-consolidated) for the cumulative second quarter of the fiscal year ending March 2025 (April to September) increased by 21.8% from the same period last year, reaching 809 million yen, exceeded the previous forecast of 690 million yen.

In addition, the full-year ordinary profit has been revised upward by 7.3%, from the previous forecast of 1.65 billion yen to 1.77 billion yen (compared to 1.54 billion yen in the previous period), increasing the growth rate from 6.7% to 14.4%, further surpassing the previous forecast of record-high profits for six consecutive terms.

Based on the first-half performance announced by the company and the full-year plan, our calculation indicates that the ordinary profit for the October to March period (second half) is expected to grow by 8.8% from the same period last year, reaching 961 million yen.

In light of the strong performance, the company has increased its planned year-end lump-sum dividend for the current fiscal year from the original plan of 90 yen to 97 yen (compared to 87 yen in the previous period).

In the most recent three-month period, from July to September (2Q), the ordinary profit grew by 10.6% from the same period last year, reaching 428 million yen. However, the operating profit margin decreased from 18.0% in the same period last year to 17.6%.

Kabutan News

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	3,369	451	480	336	33.0	37.6	Nov 10, 2022	J-GAAP
Apr - Sep, 2023	3,915	633	664	463	45.5	42.9	Nov 9, 2023	J-GAAP
Apr - Sep, 2024	4,495	764	809	566	55.6	45.7	Nov 11, 2024	J-GAAP
YoY	+14.8%	+20.7%	+21.8%	+22.2%	+22.1%

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	4,150	650	690	480	47.1	0	May 13, 2024	J-GAAP
Apr - Sep, 2024 Results	4,495	764	809	566	55.6	0	Nov 11, 2024	J-GAAP
Revision Rate	+8.3%	+17.5%	+17.2%	+17.9%	+18.1%

Guidance Update

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	9,200	1,570	1,650	1,145	112.3	45	May 13, 2024	J-GAAP
Mar, 2025 New	9,550	1,680	1,770	1,230	120.6	48.50	Nov 11, 2024	J-GAAP
Revision Rate	+3.8%	+7.0%	+7.3%	+7.4%	+7.4%

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	4,619	834	883	642	63.0	43.50	May 13, 2024	J-GAAP
Oct - Mar, 2024 Guidance	5,055	916	961	664	65.1	48.50	Nov 11, 2024	J-GAAP
YoY	+9.4%	+9.8%	+8.8%	+3.4%	+3.3%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	7,488	1,215	1,278	878	86.3	34.50	May 11, 2023	J-GAAP
Mar, 2024	8,534	1,467	1,547	1,105	108.5	43.50	May 13, 2024	J-GAAP
Mar, 2025 Guidance	9,550	1,680	1,770	1,230	120.6	48.50	Nov 11, 2024	J-GAAP
YoY	+11.9%	+14.5%	+14.4%	+11.3%	+11.2%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	2,089	376	387	273	26.8	18.0	Nov 9, 2023	J-GAAP
Oct - Dec, 2023	2,165	423	440	307	30.2	19.5	Feb 8, 2024	J-GAAP
Jan - Mar, 2024	2,454	411	443	335	32.9	16.7	May 13, 2024	J-GAAP
Apr - Jun, 2024	2,178	357	381	263	25.8	16.4	Aug 8, 2024	J-GAAP
Jul - Sep, 2024	2,317	407	428	303	29.8	17.6	Nov 11, 2024	J-GAAP
YoY	+10.9%	+8.2%	+10.6%	+11.0%	+10.8%