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Serverworks Co.,Ltd., First Half Ordinary Profit Increases by 30%, Exceeds Full-Year Plan

Tue Oct 15, 2024 3:00 pm JST Earnings

4434 Serverworks Co.,Ltd. 【J-GAAP】

Earnings Report

Serverworks Co.,Ltd. <4434> [TSE-S] announced its financial results after the market closed on October 15th (15:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending February 2025 (March to August) increased by 29.7% from the same period last year, reaching 577 million yen. The progress rate against the full-year plan of 492 million yen is 117.3%, already exceeding the target and also exceeding the five-year average of 46.4%.

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 loss of 85 million yen (compared to a profit of 587 million yen in the same period last year).

In the most recent three-month period, from June to August (2Q), the consolidated ordinary profit decreased to 172 million yen, a 28.0% decrease compared to the same period last year. The operating profit margin worsened from 3.6% in the same period last year to 1.8%.

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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 7,075 335 331 266 34.5 53.0 Oct 14, 2022 J-GAAP
Mar - Aug, 2023 12,480 403 445 230 29.6 43.1 Oct 13, 2023 J-GAAP
Mar - Aug, 2024 17,291 602 577 355 45.3 117.3 Oct 15, 2024 J-GAAP
YoY +38.5% +49.4% +29.7% +54.3% +53.1%

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 ー ー ー ー － 0 Apr 12, 2024 J-GAAP
Mar - Aug, 2024 Results 17,291 602 577 355 45.3 0 Oct 15, 2024 J-GAAP
Revision Rate － － － － －

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 15,030 494 587 408 52.3 0 Apr 12, 2024 J-GAAP
Sep - Feb, 2024 Guidance 16,101 66 -85 -101 -12.8 0 Oct 15, 2024 J-GAAP
YoY +7.1% -86.6% － － －

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Feb, 2023 17,295 552 624 453 58.6 0 Apr 14, 2023 J-GAAP
Feb, 2024 27,510 897 1,032 638 81.8 0 Apr 12, 2024 J-GAAP
Feb, 2025 Guidance 33,392 668 492 254 32.2 0 Apr 12, 2024 J-GAAP
YoY +21.4% -25.5% -52.3% -60.2% -60.6%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jun - Aug, 2023 6,593 238 239 123 15.8 3.6 Oct 13, 2023 J-GAAP
Sep - Nov, 2023 7,322 316 374 276 35.4 4.3 Jan 12, 2024 J-GAAP
Dec - Feb, 2023 7,708 178 213 132 16.9 2.3 Apr 12, 2024 J-GAAP
Mar - May, 2024 8,636 443 405 277 35.4 5.1 Jul 12, 2024 J-GAAP
Jun - Aug, 2024 8,655 159 172 78 10.0 1.8 Oct 15, 2024 J-GAAP
YoY +31.3% -33.2% -28.0% -36.6% -37.1%

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