Aucnet (3964) Q3 2024 earnings summary

Executive summary

• 9M 2024 net sales rose 25.4% YoY to ¥40,443m; operating profit increased 3.4% to ¥5,610m and profit attributable to owners of parent rose 2.3% to ¥3,594m.

• Lifestyle Product and Mobility & Energy drove growth; M&A costs and company-wide investment in new businesses and expansion weighed on profit growth.

• Blue Print 2025 priorities include expanding existing markets, partnerships, new businesses, the membership network and distribution channels.

Financial highlights

• 9M EBITDA was ¥6,200m, up 3.6% YoY; ordinary profit rose 3.3% to ¥5,700m.

• 9M gross profit was ¥16,932m; basic EPS was ¥151.19 versus ¥139.05 a year earlier.

• Non-cumulative 3Q net sales were ¥13,872m (+34.5% YoY), operating profit ¥1,755m (+23.9%), ordinary profit ¥1,712m (+20.1%) and parent-attributable profit ¥1,043m (+16.9%).

• Comprehensive income was ¥3,789m versus ¥3,738m in 9M 2023.

Outlook and guidance

• FY2024 forecast unchanged: net sales ¥58,000m, operating profit ¥7,090m, ordinary profit ¥7,000m and parent-attributable profit ¥4,508m.

• 9M progress against revised forecast: net sales 69.7%, operating profit 80.1%, ordinary profit 80.4% and parent-attributable profit 79.7%.

• FY2024 forecast basic EPS is ¥189.76; actual results may differ significantly from estimates.