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Frontier Management Inc., The Current Fiscal Year Ordinary Profit Revised Downward to a Loss

Wed Nov 13, 2024 3:30 pm JST Earnings

7038 Frontier Management Inc. 【J-GAAP】

Earnings Report

Frontier Management Inc. <7038> [TSE-P] announced its financial results after the market closed on November 13th (15:30). The consolidated ordinary profit for the cumulative third quarter of the fiscal year ending December 2024 (January to September) significantly dropped by 97.9% from the same period last year to 18 million yen.

In addition, the full-year consolidated ordinary profit/loss has been revised downward from an expected profit of 1.57 billion yen to a loss of 1.03 billion yen (compared to a profit of 1.23 billion yen in the previous period), turning to a loss outlook.

Based on the full-year plan announced by the company after the downward revision, our estimate of the consolidated ordinary profit/loss for the July to December period (second half) has been revised downward from an expected profit of 1.45 billion yen to a loss of 1.14 billion yen (compared to a profit of 543 million yen in the same period of the previous year), turning to a loss outlook.

At the same time, the year-end lump-sum dividend remains undecided.

In the most recent three-month period, from July to September (3Q), the consolidated ordinary profit/loss turned to a loss of 95 million yen (compared to a profit of 157 million yen in the same period last year). The operating profit/loss margin drastically worsened from 7.0% in the same period last year to -0.7%.

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Actual Results

Accumulated Results 3rd Quarter
Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Progress Rate vs. First Half Announce Accounting Standards
Jan - Sep, 2022 5,889 679 696 351 30.7 75.6 Nov 11, 2022 J-GAAP
Jan - Sep, 2023 7,267 854 852 529 46.0 68.8 Nov 10, 2023 J-GAAP
Jan - Sep, 2024 6,748 92 18 -109 -9.3 ー Nov 13, 2024 J-GAAP
YoY -7.1% -89.2% -97.9% － －

Guidance Update

Second Half Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Jul - Dec, 2024 Prev 8,441 1,512 1,457 987 84.0 － Aug 13, 2024 J-GAAP
Jul - Dec, 2024 New 4,441 -1,058 -1,143 -883 -75.2 － Nov 13, 2024 J-GAAP
Revision Rate -47.4% － － － －

Full Year Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Dec, 2024 Prev 13,000 1,620 1,570 1,000 85.1 － Feb 14, 2024 J-GAAP
Dec, 2024 New 9,000 -950 -1,030 -870 -74.1 － Nov 13, 2024 J-GAAP
Revision Rate -30.8% － － － －

Current Period Guidance

Second Half Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Jul - Dec, 2023 5,034 556 543 374 32.4 41 Feb 14, 2024 J-GAAP
Jul - Dec, 2024 Guidance 4,441 -1,058 -1,143 -883 -75.2 － Nov 13, 2024 J-GAAP
YoY -11.8% － － － －

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Dec, 2022 7,915 908 921 556 48.7 28 Feb 10, 2023 J-GAAP
Dec, 2023 10,025 1,251 1,238 780 67.5 41 Feb 14, 2024 J-GAAP
Dec, 2024 Guidance 9,000 -950 -1,030 -870 -74.1 － Nov 13, 2024 J-GAAP
YoY -10.2% － － － －

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 2,276 159 157 123 10.7 7.0 Nov 10, 2023 J-GAAP
Oct - Dec, 2023 2,758 397 386 251 21.7 14.4 Feb 14, 2024 J-GAAP
Jan - Mar, 2024 2,161 63 72 13 1.1 2.9 May 14, 2024 J-GAAP
Apr - Jun, 2024 2,398 45 41 0 0.0 1.9 Aug 13, 2024 J-GAAP
Jul - Sep, 2024 2,189 -16 -95 -122 -10.4 -0.7 Nov 13, 2024 J-GAAP
YoY -3.8% － － － －

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