Avicopter (600038) Q3 2026 earnings summary

Executive summary

• Q3 revenue fell 43.57% YoY to ¥2.712bn, with lower product deliveries cited as the main driver; attributable net loss was ¥26.845m.

• 9M revenue declined 22.12% YoY to ¥11.719bn, while attributable net income fell 56.89% to ¥160.671m.

Financial highlights

• Q3 total loss was ¥35.498m versus a profit a year earlier; 9M total profit was ¥126.319m, down 61.33% YoY.

• 9M adjusted for non-recurring items, attributable net income was ¥90.953m, down 67.81%; Q3 adjusted attributable net loss was ¥50.378m.

• 9M consolidated net income was ¥143.523m versus ¥326.452m in the prior-year period.

Key financial ratios and metrics

• Basic and diluted EPS were -¥0.0327 for Q3 and ¥0.1960 for 9M, down 129.69% and 56.89% YoY, respectively.

• Weighted average ROE was -0.16% for Q3, down 0.81 percentage points YoY; 9M ROE was 0.96%, down 1.44 points.

• Total assets were ¥50.822bn at Sept. 30, down 1.39% from year-end 2025; parent shareholders’ equity was ¥17.546bn.