Open Up Group (2154) Q2 2025 earnings summary

Executive summary

• Revenue for the six months ended December 31, 2024, rose 18.8% year-over-year to ¥101,037 million, driven by growth in personnel, overseas sales, and positive exchange rate effects.

• Second quarter revenue increased by 20.5% year-over-year, operating profit rose 3.3%, and the number of engineers grew by 4,265 compared to the same period last year.

• Business profit increased 19.9% year-over-year to ¥8,823 million, operating profit rose 13.4% to ¥8,970 million, and profit attributable to owners of parent grew 10.0% to ¥5,884 million.

• IR Inc. (Ophiuchus Invesco Co., Ltd.) was consolidated as of October 1, strengthening the Construction segment and expanding presence in the Tokai region.

• Steady progress was made toward full-year forecasts, which remain unchanged.

Financial highlights

• Q2 FY2025 revenue: ¥52.67 billion (+20.5% YoY); gross profit: ¥13.03 billion (+20.8% YoY); operating profit: ¥4.82 billion (+3.3% YoY); net income: ¥3.50 billion (+9.2% YoY).

• Gross profit for the six months was ¥24,757 million, up from ¥20,515 million year-over-year.

• Basic earnings per share increased to ¥67.75 from ¥61.80 year-over-year.

• Number of engineers reached 24,348 (+21.2% YoY).

• Total assets at December 31, 2024, were ¥123,299 million, up 5.8% from June 30, 2024.

Outlook and guidance

• Full-year revenue forecast: ¥193.0 billion; operating profit forecast: ¥16.0 billion; net income forecast: ¥11.27 billion.

• Progress rates for revenue and operating profit are 52.4% and 56.1%, respectively, at Q2.

• Annual dividend forecast is ¥75.00 per share.

• Full-year forecasts remain unchanged.