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Nippon Air Conditioning Services Co., Ltd., First Half Ordinary Profit Increases by 47%, July-September Ordinary Profit Increases by 17%

Thu Oct 31, 2024 3:40 pm JST Earnings

4658 Nippon Air Conditioning Services Co., Ltd. 【J-GAAP】

Earnings Report

Nippon Air Conditioning Services Co., Ltd. <4658> [TSE-P] announced its financial results after the market closed on October 31st (15:40). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) expanded to 1.88 billion yen, an increase of 47.3% compared to the same period last year. The progress rate against the 3.9 billion yen full-year plan was 48.3%, exceeding the five-year average of 36.7%.

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 22.0% from the same period last year to 2.01 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit grew by 17.3% from the same period last year, reaching 1.19 billion yen. The operating profit margin improved from 7.4% in the same period last year to 8.7%.

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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 21,874 673 821 462 13.5 26.9 Oct 31, 2022 J-GAAP
Apr - Sep, 2023 24,130 1,123 1,278 776 22.7 33.1 Oct 31, 2023 J-GAAP
Apr - Sep, 2024 26,930 1,791 1,883 1,178 34.2 48.3 Oct 31, 2024 J-GAAP
YoY +11.6% +59.5% +47.3% +51.8% +51.2%

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 ー ー ー ー － 20 May 13, 2024 J-GAAP
Apr - Sep, 2024 Results 26,930 1,791 1,883 1,178 34.2 20 Oct 31, 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
Oct - Mar, 2023 34,102 2,507 2,585 1,949 56.8 24 May 13, 2024 J-GAAP
Oct - Mar, 2024 Guidance 34,070 1,909 2,017 1,622 47.0 20 Oct 31, 2024 J-GAAP
YoY -0.1% -23.9% -22.0% -16.8% -17.3%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 52,886 2,847 3,051 1,940 56.7 28 May 12, 2023 J-GAAP
Mar, 2024 58,232 3,630 3,863 2,725 79.4 39 May 13, 2024 J-GAAP
Mar, 2025 Guidance 61,000 3,700 3,900 2,800 81.1 40 May 13, 2024 J-GAAP
YoY +4.8% +1.9% +1.0% +2.8% +2.2%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 13,087 964 1,021 689 20.1 7.4 Oct 31, 2023 J-GAAP
Oct - Dec, 2023 15,487 1,244 1,287 899 26.2 8.0 Jan 31, 2024 J-GAAP
Jan - Mar, 2024 18,615 1,263 1,298 1,050 30.6 6.8 May 13, 2024 J-GAAP
Apr - Jun, 2024 12,748 563 685 368 10.7 4.4 Jul 31, 2024 J-GAAP
Jul - Sep, 2024 14,182 1,228 1,198 810 23.5 8.7 Oct 31, 2024 J-GAAP
YoY +8.4% +27.4% +17.3% +17.6% +17.1%

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