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Olympic Group Corporation, The Current Fiscal Year Ordinary Profit Revised Downward by 42%

Fri Oct 11, 2024 6:00 pm JST Earnings

8289 Olympic Group Corporation 【J-GAAP】

Earnings Report

Olympic Group Corporation <8289> [TSE-S] announced its financial results after the market closed on October 11th (18:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending February 2025 (March to August) dropped by 37.8% from the same period last year to 102 million yen, resulting in a decrease in profits compared to the previous forecast of a 387.8% increase.

In addition, the full-year consolidated ordinary profit has downwardly by 41.7%, from the previous forecast of 1.8 billion yen to 1.05 billion yen (compared to 51 million yen in the previous period), leading to a reduction in the profit growth rate from 35 times to 21 times.

Based on the first-half performance announced by the company and the 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 profit of 948 million yen (compared to a loss of 113 million yen in the same period last year).

In the most recent three-month period, from June to August (2Q), the consolidated ordinary profit amounted to 12 million yen, remained almost flat compared to the same period last year. The operating profit margin remained almost flat, changing from 0.2% in the same period last year to 0.3%.

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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 47,231 269 202 140 6.1 129.5 Oct 13, 2022 J-GAAP
Mar - Aug, 2023 45,812 263 164 161 7.0 321.6 Oct 13, 2023 J-GAAP
Mar - Aug, 2024 49,901 240 100 8 0.4 9.5 Oct 11, 2024 J-GAAP
YoY +8.9% -8.7% -39.0% -95.0% -94.6%

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 50,800 900 800 350 15.2 0 Apr 12, 2024 J-GAAP
Mar - Aug, 2024 Results 49,901 240 100 8 0.4 0 Oct 11, 2024 J-GAAP
Revision Rate -1.8% -73.3% -87.5% -97.7% -97.5%

Guidance Update

Full Year Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Feb, 2025 Prev 104,000 2,000 1,800 800 34.8 20 Apr 12, 2024 J-GAAP
Feb, 2025 New 102,000 1,350 1,050 500 21.8 20 Oct 11, 2024 J-GAAP
Revision Rate -1.9% -32.5% -41.7% -37.5% -37.5%

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 45,125 -73 -113 -638 -27.8 20 Apr 12, 2024 J-GAAP
Sep - Feb, 2024 Guidance 52,099 1,110 950 492 21.4 20 Oct 11, 2024 J-GAAP
YoY +15.5% － － － －

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Feb, 2023 91,983 315 156 108 4.7 20 Apr 13, 2023 J-GAAP
Feb, 2024 90,937 190 51 -477 -20.8 20 Apr 12, 2024 J-GAAP
Feb, 2025 Guidance 102,000 1,350 1,050 500 21.8 20 Oct 11, 2024 J-GAAP
YoY +12.2% +610.5% +1,958.8% － －

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jun - Aug, 2023 23,058 57 12 111 4.8 0.2 Oct 13, 2023 J-GAAP
Sep - Nov, 2023 21,911 -156 -210 -247 -10.8 -0.7 Jan 12, 2024 J-GAAP
Dec - Feb, 2023 23,214 83 97 -391 -17.0 0.4 Apr 12, 2024 J-GAAP
Mar - May, 2024 24,582 159 90 19 0.9 0.6 Jul 12, 2024 J-GAAP
Jun - Aug, 2024 25,319 81 10 -11 -0.5 0.3 Oct 11, 2024 J-GAAP
YoY +9.8% +42.1% -16.7% － －

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