BML (4694) Q1 2024 earnings summary

Executive summary

• Net sales for Q1 FY2024 rose 0.9% year-over-year to ¥35,592 million, while operating profit declined 4.5% to ¥2,547 million and profit attributable to owners of parent fell 5.0% to ¥1,707 million.

• Non-COVID-19 testing volumes remained solid, offsetting declines in COVID-19-related testing, but profit was pressured by higher material and personnel costs.

Financial highlights

• Gross profit for Q1 FY2024 was ¥11,956 million, down from ¥12,068 million year-over-year.

• Ordinary profit decreased 4.2% year-over-year to ¥2,649 million.

• Basic earnings per share for Q1 FY2024 was ¥43.81, compared to ¥46.10 in Q1 FY2023.

• Comprehensive income for Q1 FY2024 was ¥1,719 million, down from ¥1,813 million year-over-year.

Outlook and guidance

• Full-year FY2024 guidance maintained: net sales ¥140,000 million (+1.5% YoY), operating profit ¥9,200 million (+0.4%), ordinary profit ¥9,700 million (+1.0%), profit attributable to owners of parent ¥6,100 million (+1.1%), EPS ¥156.47.

• No revision to dividend forecast; full-year dividend expected at ¥120 per share.