Aucnet (3964) Q1 2025 earnings summary

Executive summary

• Q1 FY2025 net sales rose 45.4% YoY to ¥15,978 million and operating profit rose 50.8% to ¥3,083 million.

• Growth reflected stronger Lifestyle Products and Mobility & Energy performance, plus Other segment’s return to operating profit.

Financial highlights

• Ordinary profit was ¥2,996 million, up 41.5%; profit attributable to owners of parent was ¥2,012 million, up 44.6%.

• EBITDA was ¥3,358 million, up 52.5% YoY.

• Gross profit was ¥6.91bn versus ¥4.99bn YoY; basic EPS was ¥43.30 on a post-split basis.

Outlook and guidance

• FY2025 forecast revised to net sales ¥61,000 million, operating profit ¥7,500 million, ordinary profit ¥7,300 million and parent profit ¥4,750 million.

• Forecast basic EPS is ¥104.37 and annual dividend is ¥42 per post-split share, up ¥4 YoY.

• Strong smartphone replacement demand and fashion resale momentum are expected to continue; market prices for some luxury items have recovered.

• Previously anticipated post-Q1 costs include ~¥700 million in Lifestyle Products, ~¥200 million in Mobility & Energy and ~¥700 million group-wide.