BIPROGY (8056) Q1 2024 earnings summary

Executive summary

• Q1 revenue was ¥79.9B, up 13.2% YoY; operating profit rose 22.0% to ¥5.8B, led by strong system services and hardware.

• Orders increased ¥8.5B to ¥78.1B and order backlog rose ¥21.4B to ¥272.1B, with system services and outsourcing leading growth.

Financial highlights

• Gross profit increased ¥2.2B to ¥20.4B, up 11.9% YoY; SG&A expenses rose ¥1.2B to ¥14.6B.

• Profit attributable to owners of parent was ¥4.4B, up 11.4% YoY; lower finance income was more than offset by stronger operating profit.

Outlook and guidance

• FY2024 forecast unchanged: revenue ¥350.0B, operating profit ¥32.5B, and profit attributable to owners of parent ¥22.0B.

• Forecasts may be revised based on order trends and business progress; actual results may differ due to risks, uncertainty, economic conditions, and other factors.