PRONEXUS (7893) Q1 2024 earnings summary

Executive summary

• Q1 FY2024 revenue rose 7.5% YoY to ¥11,800 million; operating profit increased 7.5% to ¥3,221 million and profit attributable to owners of parent grew 8.2% to ¥2,224 million.

• Consolidation of Cine Holdings and Cine Focus expanded events operations and contributed significantly to sales and profit growth.

Financial highlights

• Revenue ¥11,800 million, up ¥824 million YoY; gross profit ¥5,407 million, up 8.8%; operating profit ¥3,221 million, up 7.5%.

• Profit before tax increased 7.6% to ¥3,248 million; profit attributable to owners of parent rose 8.2% to ¥2,224 million.

• Q1 performance versus initial full-year forecasts: revenue reached 39.3% of ¥30,000 million; operating profit reached 134.2% of ¥2,400 million.

Outlook and guidance

• FY2024 forecast: revenue ¥30,000 million and operating profit ¥2,400 million, as listed in the Q1 financial highlights.

• Annual dividend forecast is ¥36 per share, comprising ¥18 at each of the second-quarter end and year-end; standard payout-ratio policy is 50% or higher.