PARK24 Co (4666) Q3 2024 earnings summary

Executive summary

• Net sales reached ¥270.2 billion, up 11.9% year-over-year and surpassing the plan by ¥9.3 billion, driven by domestic service expansion and strong operations.

• Operating profit rose 9.1% to ¥26,610 million, and recurring profit increased 13.7% to ¥24,014 million, exceeding the plan by ¥2.7 billion.

• Profit attributable to owners of parent declined 4.2% year-over-year to ¥14,655 million due to prior-year special factors and tax effects, but exceeded the plan by ¥1.8 billion.

• Comprehensive income increased 10.2% year-over-year to ¥17,701 million.

Financial highlights

• Gross profit increased to ¥71,818 million from ¥65,220 million year-over-year.

• Equity ratio at end of Q3 FY2024 was 28.8%, with shareholders' equity at ¥85.0 billion.

• Net D/E ratio improved to 1.20 from 1.38 at the end of FY2023.

• Free cash flow declined to ¥7,192 million from ¥12,003 million year-over-year.

• Cash and cash equivalents at period end decreased to ¥42,810 million from ¥63,864 million.

Outlook and guidance

• Full-year FY2024 net sales forecast at ¥357.0 billion, up 8.1% year-over-year; recurring profit forecast at ¥31.0 billion, up 12.0%; profit attributable to owners of parent projected at ¥20.0 billion, up 14.0%; EPS forecast at ¥117.23.

• No revisions to previously announced guidance.