MonotaRO (3064) Q3 2024 earnings summary

Executive summary

• Sales for Jan–Sep 2024 rose 13.0% year-over-year to ¥211.5 billion (consolidated), with strong growth in both monotaro.com and Enterprise Business segments.

• Operating income increased 18.0% year-over-year to ¥27.0 billion, and net income attributable to owners of the parent grew 16.8% to ¥18.9 billion.

• Customer base expanded, with registered customers reaching 9.89 million as of Sep 2024, up 779,932 from Dec 2023.

• Product lineup expanded to 23.7 million items, with 591,000 available for same-day shipment.

• SG&A expense ratio improved to 16.5% (consolidated), down from 17.7% a year earlier, supporting margin expansion.

Financial highlights

• Consolidated sales: ¥211.5 billion (+13.0% YoY), gross profit: ¥62.0 billion (+10.8% YoY), gross margin: 29.3%.

• Operating income: ¥27.0 billion (+18.0% YoY), operating margin: 12.8%.

• Net income attributable to owners of parent: ¥18.9 billion (+16.8% YoY), net margin: 8.9%.

• Ordinary income reached ¥27.1 billion, up 17.2% year-over-year.

• Net income per share was ¥38.01, up from ¥32.54 in the prior year period.

Outlook and guidance

• Full-year consolidated sales forecast: ¥286.6 billion (+12.7% YoY), net income attributable to owners of parent: ¥25.1 billion (+15.1% YoY).

• Operating income projected at ¥35.8 billion, up 14.4% year-over-year.

• Dividend for 2024 planned at ¥19.00/share (up from ¥16.00 in 2023).