AIMECHATEC (6227) Q2 2024 earnings summary

Executive summary

• H1 FY June 2024 revenue was ¥5.283bn, up ¥83m YoY, while operating loss widened to ¥389m as higher R&D and equipment-business transfer costs outweighed growth.

• Orders rose to ¥10.519bn and backlog reached a record ¥25.821bn, supported by semiconductor process equipment demand.

Financial highlights

• H1 orders were ¥10.519bn, up ¥3.673bn YoY; revenue was ¥5.283bn, up ¥83m.

• Gross profit was ¥966m versus ¥1.033bn YoY; SG&A rose to ¥1.356bn from ¥1.258bn.

• Operating loss was ¥389m versus ¥224m; ordinary loss was ¥433m versus ¥297m, and net loss was ¥292m versus ¥220m.

• Higher R&D and costs to transfer equipment operations from Tokyo Ohka Kogyo contributed to the decline; transfer costs are expected through Q3 FY June 2025.

Outlook and guidance

• FY June 2024 forecast: revenue ¥20.031bn, operating income ¥1.415bn, ordinary income ¥1.300bn and net income ¥884m.

• Revenue and operating profit are forecast to rise on opening backlog above ¥20bn, in-year orders, IJP Solutions volume effects and semiconductor process productivity improvements.

• Annual dividend forecast is ¥45 per share, with a 28.7% payout ratio; the interim dividend is ¥0.