Byhealth (300146) Q1 2025 earnings summary

Executive summary

• Operating income for Q1 2025 was ¥1.79 billion, a 32.29% decrease year-over-year, with net profit attributable to shareholders down 37.44% to ¥455 million.

• Both offline and online channels saw revenue declines, with offline down 42.62% and online down 15.78% year-over-year.

• Main brands experienced significant revenue drops: BYHEALTH -36.37%, KEYLID -46.15%, Life-Space China -36.19%, and overseas LSG -5.94%.

• The company focused on operational quality, digitalization, and efficiency improvements amid a challenging consumer and competitive environment.

Financial highlights

• Net profit after deducting non-recurring items was ¥409 million, down 42.36% year-over-year.

• Net cash flow from operating activities increased 142.40% to ¥362 million.

• Basic and diluted EPS were both ¥0.27, down from ¥0.43 in the prior year.

• Weighted average ROE fell by 1.85 percentage points to 4.03%.

• Total assets decreased by 1.86% to ¥14.01 billion; owner’s equity rose to ¥11.51 billion.

Segment performance

• BYHEALTH brand revenue: ¥983 million (-36.37% YoY); KEYLID: ¥201 million (-46.15% YoY); Life-Space China: ¥77 million (-36.19% YoY); overseas LSG: ¥244 million (-5.94% YoY).

• Offline channel revenue: ¥988 million (-42.62% YoY); online channel revenue: ¥766 million (-15.78% YoY).