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RIDE ON EXPRESS HOLDINGS Co.,Ltd., First Half Ordinary Profit Turns to Loss, July-September Ordinary Profit Decreases by 82%

Thu Nov 14, 2024 3:30 pm JST Earnings

6082 RIDE ON EXPRESS HOLDINGS Co.,Ltd. 【J-GAAP】

Earnings Report

RIDE ON EXPRESS HOLDINGS Co.,Ltd. <6082> [TSE-S] announced its financial results after the market closed on November 14th (15:30). The consolidated ordinary profit/loss for the cumulative second quarter of the fiscal year ending March 2025 (April to September) turned into a loss of 31 million yen (compared to a profit of 331 million yen in the same period last year).

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 nearly flat at 689 million yen, down 0.6% from the same period last year.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit significantly dropped to 52 million yen, a 82.3% decrease compared to the same period last year. The operating profit margin drastically worsened from 4.7% in the same period last year to 1.5%.

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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 12,119 469 409 267 27.0 37.2 Nov 14, 2022 J-GAAP
Apr - Sep, 2023 11,051 318 331 122 12.6 32.3 Nov 13, 2023 J-GAAP
Apr - Sep, 2024 10,657 -8 -31 -57 -5.9 ー Nov 14, 2024 J-GAAP
YoY -3.6% － － － －

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 10,650 -7 -46 -90 -9.2 0 Sep 25, 2024 J-GAAP
Apr - Sep, 2024 Results 10,657 -8 -31 -57 -5.9 0 Nov 14, 2024 J-GAAP
Revision Rate +0.1% -14.3% +32.6% +36.7% +36.2%

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 12,944 749 693 242 24.9 15 May 15, 2024 J-GAAP
Oct - Mar, 2024 Guidance 12,572 712 689 429 43.9 15 Nov 14, 2024 J-GAAP
YoY -2.9% -4.9% -0.6% +77.3% +76.3%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 25,353 1,251 1,099 546 55.6 30 May 15, 2023 J-GAAP
Mar, 2024 23,995 1,067 1,024 364 37.4 15 May 15, 2024 J-GAAP
Mar, 2025 Guidance 23,229 704 658 372 38.0 15 Sep 25, 2024 J-GAAP
YoY -3.2% -34.0% -35.7% +2.2% +1.6%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 5,590 265 294 121 12.5 4.7 Nov 13, 2023 J-GAAP
Oct - Dec, 2023 6,505 195 177 99 10.2 3.0 Feb 14, 2024 J-GAAP
Jan - Mar, 2024 6,439 554 516 143 14.7 8.6 May 15, 2024 J-GAAP
Apr - Jun, 2024 5,185 -90 -83 -118 -12.1 -1.7 Aug 14, 2024 J-GAAP
Jul - Sep, 2024 5,472 82 52 61 6.3 1.5 Nov 14, 2024 J-GAAP
YoY -2.1% -69.1% -82.3% -49.6% -49.8%

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