JVCKENWOOD (6632) Q3 2025 earnings summary

Executive summary

• Revenue for the nine months ended December 31, 2024, increased 1.2% year-over-year to 270,474 million yen, driven by strong sales in professional radio systems for North American public safety and solid overseas OEM performance.

• Core operating income rose 15.9% to 18,568 million yen, with operating profit up 12.0% to 16,783 million yen, and profit attributable to owners of parent up 28.8% to 14,070 million yen.

• Share repurchase program completed, totaling approximately 4.5 billion yen.

• All business sectors are expected to meet sales forecasts for the full year, and the company maintains its previously announced earnings guidance.

Financial highlights

• Revenue: 270,474 million yen (+1.2% YoY); Core operating income: 18,568 million yen (+15.9% YoY); Operating profit: 16,783 million yen (+12.0% YoY); Profit before tax: 18,276 million yen (+22.4% YoY); Net profit: 14,070 million yen (+28.8% YoY).

• EBITDA reached 32.3 billion yen, with an EBITDA margin of 11.9%.

• Gross profit increased to 88,164 million yen from 81,076 million yen year-over-year.

• Basic earnings per share rose to 93.43 yen from 70.24 yen year-over-year.

• Total assets increased to 322,653 million yen, and equity attributable to owners of parent rose to 125,819 million yen.

Outlook and guidance

• Full-year revenue forecast is 364,000 million yen (+1.3% YoY), with core operating income projected at 23,000 million yen (+16.7% YoY) and profit attributable to owners of parent at 17,000 million yen (+30.6% YoY).

• Year-end dividend forecast is 13 yen per share.

• No changes to the previously announced earnings forecast.