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Azuma Shipping Co.,Ltd., First Half Ordinary Profit Increases by 46%

Wed Oct 30, 2024 3:00 pm JST Earnings

9380 Azuma Shipping Co.,Ltd. 【J-GAAP】

Earnings Report

Azuma Shipping Co.,Ltd. <9380> [TSE-S] announced its financial results after the market closed on October 30th (15:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) expanded to 332 million yen, an increase of 45.6% compared to the same period last year. However, The progress rate against the 765 million yen full-year plan was 43.4%, also falling below the five-year average of 66.9%.

Based on the first-half performance announced by the company and the unchanged full-year plan, our calculation indicates that the consolidated ordinary profit/loss for the October to March period (second half) is expected to turn into a profit of 433 million yen (compared to a loss of 76 million yen in the same period last year).

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit surged to 2.3 times that of the same period last year, reaching 164 million yen. The operating profit margin improved from 0.5% in the same period last year to 1.8%.

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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 21,151 385 555 378 13.6 59.0 Oct 31, 2022 J-GAAP
Apr - Sep, 2023 19,923 82 228 122 4.4 150.0 Oct 30, 2023 J-GAAP
Apr - Sep, 2024 19,688 283 332 248 8.9 43.4 Oct 30, 2024 J-GAAP
YoY -1.2% +245.1% +45.6% +103.3% +102.0%

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 20,528 291 371 204 7.3 3 May 15, 2024 J-GAAP
Apr - Sep, 2024 Results 19,688 283 332 248 8.9 3 Oct 30, 2024 J-GAAP
Revision Rate -4.1% -2.7% -10.5% +21.6% +21.8%

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 19,823 206 -76 195 7.0 4 May 15, 2024 J-GAAP
Oct - Mar, 2024 Guidance 21,877 359 433 324 11.5 4 Oct 30, 2024 J-GAAP
YoY +10.4% +74.3% － +66.2% +65.1%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 41,467 666 941 197 7.1 7 May 15, 2023 J-GAAP
Mar, 2024 39,746 288 152 317 11.4 7 May 15, 2024 J-GAAP
Mar, 2025 Guidance 41,565 642 765 572 20.4 7 May 15, 2024 J-GAAP
YoY +4.6% +122.9% +403.3% +80.4% +79.4%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 9,940 45 71 35 1.3 0.5 Oct 30, 2023 J-GAAP
Oct - Dec, 2023 10,392 150 173 85 3.1 1.4 Jan 30, 2024 J-GAAP
Jan - Mar, 2024 9,431 56 -249 110 3.9 0.6 May 15, 2024 J-GAAP
Apr - Jun, 2024 9,832 101 168 63 2.3 1.0 Aug 9, 2024 J-GAAP
Jul - Sep, 2024 9,856 182 164 185 6.6 1.8 Oct 30, 2024 J-GAAP
YoY -0.8% +304.4% +131.0% +428.6% +426.2%

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