BIPROGY (8056) Q2 2024 earnings summary

Executive summary

• H1 FYMar2024 revenue rose 11.8% YoY to ¥173.0B; operating profit increased 21.9% to ¥16.6B, supported by System Services and product sales.

• Orders rose to ¥166.3B and order backlog to ¥267.2B, with strength in System Services and outsourcing.

Financial highlights

• Revenue was ¥173.0B vs. ¥154.8B YoY; gross profit was ¥46.2B vs. ¥41.4B, while SG&A expenses increased to ¥29.7B from ¥27.8B.

• Operating profit reached ¥16.6B vs. ¥13.6B; profit attributable to owners of parent was ¥12.8B vs. ¥10.1B.

• Adjusted operating profit was ¥16.5B vs. ¥13.6B, up 21.6% YoY.

Outlook and guidance

• FYMar2024 forecast remained unchanged: revenue ¥350.0B, operating profit ¥32.5B, profit attributable to owners of parent ¥22.0B and adjusted operating profit ¥32.0B.

• Current assessment indicated no risks expected to significantly affect H2 performance.