Macromill (3978) Q4 2024 earnings summary

Executive summary

• Revenue grew 8% year-over-year for FY June 2024 to 43,861 million yen, with business profit up 13.4% and EPS up 34%, led by strong Japan Business performance.

• Japan Business operating profit rose over 20%, driving overall profit growth, while Korea Business also contributed to revenue gains.

• Dividend per share increased by JPY 6 to JPY 27, with a further hike planned for next year.

• The company completed the transfer of its Overseas (ex-Korea) Business to Toluna, now an equity-method affiliate, impacting segment reporting.

• The first year of the new Mid-term Business Plan was in line with targets, focusing on growth in online and digital research.

Financial highlights

• Full-year revenue reached JPY 43.86 billion, up JPY 3.24 billion year-over-year.

• Business profit was JPY 5.62 billion, up JPY 616 million year-over-year.

• Net profit from continued business increased 29% year-over-year to JPY 2.3 billion.

• EBITDA reached 7,683 million yen, up 11.4% year-over-year.

• Operating expenses grew 6% to JPY 38.17 billion, below revenue growth rate.

Outlook and guidance

• FY June 2025 guidance: revenue up 9.4% to JPY 48 billion, business profit up 10% to JPY 6.2 billion.

• Consolidated operating profit projected to rise 27.5% to JPY 5.7 billion; net profit up 35% to JPY 3.1 billion.

• EPS expected to increase 36% to JPY 82; dividend per share to rise 37% to JPY 37.

• Dividend payout ratio target raised to 50% by FY June 2026.

• MTBP aims for revenue of 53.0 billion yen and operating profit of 7.5 billion yen by FY2026.