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ESPEC CORP., First Half Ordinary Profit Increases by 35%, July-September Ordinary Profit Increases by 45%

Tue Nov 12, 2024 3:00 pm JST Earnings

6859 ESPEC CORP. 【J-GAAP】

Earnings Report

ESPEC CORP. <6859> [TSE-P] announced its financial results in the afternoon session on November 12th (15:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) expanded to 3.39 billion yen, an increase of 34.5% compared to the same period last year. The progress rate against the 7.2 billion yen full-year plan was 47.2%, exceeding the five-year average of 32.3%.

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 13.5% from the same period last year to 3.8 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit increased by 44.6% from the same period last year, reaching 2.28 billion yen. The operating profit margin jumped from 10.3% in the same period last year to 14.2%.

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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 22,945 1,395 1,731 984 44.0 37.1 Nov 11, 2022 J-GAAP
Apr - Sep, 2023 27,257 2,333 2,526 1,653 75.8 36.5 Nov 10, 2023 J-GAAP
Apr - Sep, 2024 30,464 3,296 3,398 2,452 112.3 47.2 Nov 12, 2024 J-GAAP
YoY +11.8% +41.3% +34.5% +48.3% +48.3%

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 30,500 2,900 3,050 2,200 100.8 35 May 15, 2024 J-GAAP
Apr - Sep, 2024 Results 30,464 3,296 3,398 2,452 112.3 35 Nov 12, 2024 J-GAAP
Revision Rate -0.1% +13.7% +11.4% +11.5% +11.5%

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 34,869 4,252 4,393 3,316 151.9 50 May 15, 2024 J-GAAP
Oct - Mar, 2024 Guidance 34,536 3,704 3,802 2,748 125.9 45 Nov 12, 2024 J-GAAP
YoY -1.0% -12.9% -13.5% -17.1% -17.1%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 52,892 4,366 4,664 3,330 150.3 69 May 12, 2023 J-GAAP
Mar, 2024 62,126 6,585 6,919 4,969 227.6 75 May 15, 2024 J-GAAP
Mar, 2025 Guidance 65,000 7,000 7,200 5,200 238.2 80 May 15, 2024 J-GAAP
YoY +4.6% +6.3% +4.1% +4.6% +4.6%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 14,982 1,544 1,579 1,088 49.9 10.3 Nov 10, 2023 J-GAAP
Oct - Dec, 2023 14,932 1,878 1,921 1,432 65.6 12.6 Feb 13, 2024 J-GAAP
Jan - Mar, 2024 19,937 2,374 2,472 1,884 86.3 11.9 May 15, 2024 J-GAAP
Apr - Jun, 2024 13,691 922 1,114 756 34.7 6.7 Aug 8, 2024 J-GAAP
Jul - Sep, 2024 16,773 2,374 2,284 1,696 77.7 14.2 Nov 12, 2024 J-GAAP
YoY +12.0% +53.8% +44.6% +55.9% +55.8%

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