Aucnet (3964) Q1 2024 earnings summary

Executive summary

• Q1 FY2024 net sales rose 2.4% YoY to ¥10,988.8 million; operating profit fell 4.7% to ¥2,044.8 million, while parent-attributable profit increased 0.1% to ¥1,392.1 million.

• Blue Print 2025 prioritizes expanding existing businesses, partner collaboration and new businesses, with EBITDA, ROE, payout ratio and Gross Circulation Value as key management indicators.

Financial highlights

• Ordinary profit declined 2.3% YoY to ¥2,118.1 million; EBITDA was ¥2,206 million, down 5.0%.

• Gross profit rose to ¥4,987.7 million from ¥4,813.8 million, while SG&A increased to ¥2,942.9 million from ¥2,667.4 million.

• Consolidated transaction amount fell 5.4% YoY to ¥156,408 million; Mobility & Energy rose 18.6%, while Lifestyle Product declined 2.8%.

Outlook and guidance

• FY2024 guidance unchanged: net sales ¥48,000 million, operating profit ¥7,000 million, ordinary profit ¥7,059 million and parent-attributable profit ¥4,465 million.

• FY2024 basic EPS guidance is ¥188.77; annual dividend forecast is ¥57 per share, comprising ¥28 at the second-quarter end and ¥29 at year-end.

• Q1 progress against FY forecasts: net sales 22.9%, operating profit 29.2%, ordinary profit 30.0% and parent-attributable profit 31.2%; actual results may differ significantly from forecasts.