Anritsu (6754) Q2 2025 earnings summary

Executive summary

• Revenue for April–September 2024 rose 4.7% year-over-year to ¥53.3 billion, and operating profit increased 22% to ¥3.6 billion; order intake declined 4% year-over-year.

• Profit before tax fell 6% year-over-year, and net profit dropped 20% to ¥2.2 billion; comprehensive income decreased sharply by 95%.

• Orders decreased 4.2% year-over-year, and backlog fell 19.3% compared to the same period last year.

Financial highlights

• Operating margin for Q2 (July–September) was 10.5% consolidated, with T&M at 11.3%, PQA at 12.5%, and Environmental at 5.8%.

• Free cash flow improved to ¥9.3 billion from ¥6.0 billion year-over-year.

• Cash and cash equivalents at period end were ¥50.3 billion, up ¥8.9 billion year-over-year.

• Basic and diluted EPS for the period were ¥16.98, down from ¥21.19 a year earlier.

• Gross profit for the six-month period was ¥25.1 billion, up from ¥23.5 billion year-over-year.

Outlook and guidance

• Full-year FY2024 forecast remains unchanged: revenue expected at ¥115.0 billion (+5% YoY), operating profit at ¥11.0 billion (+22% YoY), and net profit at ¥8.3 billion (+8% YoY).

• Segment revenue growth expected in T&M (+3.9%), PQA (+5.2%), and Environmental (+21.0%), with Others declining (-10.3%).

• Exchange rate assumptions: 1 USD = 145 yen, 1 EUR = 155 yen.