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Asia Air Survey, First Half Ordinary Profit Decreases by 18%

Fri May 9, 2025 3:30 pm JST Earnings

9233 Asia Air Survey Co.,Ltd. 【J-GAAP】

Earnings Report

Asia Air Survey Co.,Ltd. <9233> [TSE Std] announced its financial results after the market closed on May 9th (15:30). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending September 2025 (October 2024 to March 2025) decreased 17.7% from the same period last year to 3.67 billion yen. The progress rate toward the full-year plan of 3.05 billion yen is 120.6%, but it was lower than the five-year average of 144.2%.

Based on the first-half performance announced by the company and the unchanged full-year plan, our calculation indicates that the consolidated ordinary loss for the April to September period (2H) is expected to further decrease loss of 0.62 billion yen (compared to a loss of 1.43 billion yen in the same period last year).

In the most recent three-month period, from January to March (2Q), the consolidated ordinary profit amounted to 4.01 billion yen, an increase of 0.1% compared to the same period last year. However, the operating profit margin decreased from 25.5% in the same period last year to 25.3%.

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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
Oct - Mar, 2022 24,119 4,727 4,616 3,000 165.9 155.4 May 12, 2023 J-GAAP
Oct - Mar, 2023 24,612 4,657 4,469 2,976 164.2 147.1 May 10, 2024 J-GAAP
Oct - Mar, 2024 24,575 3,838 3,678 2,431 133.7 120.6 May 9, 2025 J-GAAP
YoY -0.2% -17.6% -17.7% -18.3% -18.6%

First Half Results vs. Previous Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Oct - Mar, 2024 Guidance ー ー ー ー － 15 Nov 15, 2024 J-GAAP
Oct - Mar, 2024 Results 24,575 3,838 3,678 2,431 133.7 15 May 9, 2025 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
Apr - Sep, 2024 15,658 -1,807 -1,430 -1,074 -59.1 37 Nov 15, 2024 J-GAAP
Apr - Sep, 2025 Guidance 16,525 -938 -628 -451 -24.8 29 May 9, 2025 J-GAAP
YoY +5.5% +48.1% +56.1% +58.0% +58.1%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Sep, 2023 37,304 2,746 2,970 1,848 102.2 31 Nov 10, 2023 J-GAAP
Sep, 2024 40,270 2,850 3,039 1,902 104.7 44 Nov 15, 2024 J-GAAP
Sep, 2025 Guidance 41,100 2,900 3,050 1,980 108.8 44 Nov 15, 2024 J-GAAP
YoY +2.1% +1.8% +0.4% +4.1% +3.9%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jan - Mar, 2024 16,064 4,100 4,007 2,714 149.8 25.5 May 10, 2024 J-GAAP
Apr - Jun, 2024 5,637 -1,767 -1,635 -1,136 -62.6 -31.3 Aug 9, 2024 J-GAAP
Jul - Sep, 2024 10,021 -40 205 62 3.4 -0.4 Nov 15, 2024 J-GAAP
Oct - Dec, 2024 8,502 -222 -332 -324 -17.8 -2.6 Feb 14, 2025 J-GAAP
Jan - Mar, 2025 16,073 4,060 4,010 2,755 151.5 25.3 May 9, 2025 J-GAAP
YoY +0.1% -1.0% +0.1% +1.5% +1.1%

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