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UEX, LTD., First Half Ordinary Profit Decreases by 47%, July-September Ordinary Profit Decreases by 57%

Fri Nov 8, 2024 2:00 pm JST Earnings

9888 UEX, LTD. 【J-GAAP】

Earnings Report

UEX, LTD. <9888> [TSE-S] announced its financial results in the afternoon session on November 8th (14:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) dropped by 47.3% from the same period last year to 762 million yen. The progress rate against the 2.2 billion yen full-year plan was 34.6%, also falling below the five-year average of 46.7%.

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 expand by 76.7% from the same period last year, reaching 1.43 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit significantly dropped to 255 million yen, a 56.7% decrease compared to the same period last year. The operating profit margin worsened from 4.3% in the same period last year to 3.3%.

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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
Apr - Sep, 2022 26,878 2,201 2,396 1,562 141.8 55.1 Nov 8, 2022 J-GAAP
Apr - Sep, 2023 26,505 1,267 1,446 905 82.1 64.0 Nov 8, 2023 J-GAAP
Apr - Sep, 2024 25,098 836 762 467 42.4 34.6 Nov 8, 2024 J-GAAP
YoY -5.3% -34.0% -47.3% -48.4% -48.4%

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 24,000 750 750 450 40.8 15 May 14, 2024 J-GAAP
Apr - Sep, 2024 Results 25,098 836 762 467 42.4 15 Nov 8, 2024 J-GAAP
Revision Rate +4.6% +11.5% +1.6% +3.8% +3.7%

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 25,608 817 814 391 35.5 45 May 14, 2024 J-GAAP
Oct - Mar, 2024 Guidance 26,402 1,464 1,438 933 84.7 － Nov 8, 2024 J-GAAP
YoY +3.1% +79.2% +76.7% +138.6% +138.6%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 53,829 4,273 4,350 2,828 256.6 100 May 12, 2023 J-GAAP
Mar, 2024 52,113 2,084 2,260 1,296 117.6 55 May 14, 2024 J-GAAP
Mar, 2025 Guidance 51,500 2,300 2,200 1,400 127.1 － May 14, 2024 J-GAAP
YoY -1.2% +10.4% -2.7% +8.0% +8.0%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 13,146 565 589 341 30.9 4.3 Nov 8, 2023 J-GAAP
Oct - Dec, 2023 13,436 584 523 295 26.8 4.3 Feb 7, 2024 J-GAAP
Jan - Mar, 2024 12,172 233 291 96 8.7 1.9 May 14, 2024 J-GAAP
Apr - Jun, 2024 12,440 412 507 326 29.5 3.3 Aug 8, 2024 J-GAAP
Jul - Sep, 2024 12,658 424 255 141 12.8 3.3 Nov 8, 2024 J-GAAP
YoY -3.7% -25.0% -56.7% -58.7% -58.7%

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