RS Technologies (3445) Q3 2024 earnings summary

Executive summary

• 9M FY2024 net sales rose 12.8% YoY to ¥44,554m; operating income increased 0.9% to ¥9,669m, while attributable net income fell 6.2% to ¥5,593m.

• Reclaimed wafers led sales and profit growth; prime wafer profit declined, while equipment and materials sales rose but profit fell.

Financial highlights

• Net sales were ¥44,554m; ordinary income was ¥11,075m, down 7.8% YoY, and net income attributable to owners was ¥5,593m.

• EPS was ¥212.16 versus ¥226.82 a year earlier; diluted EPS was ¥210.95 versus ¥225.07.

• Gross profit was ¥14.28bn versus ¥13.63bn; comprehensive income was ¥10.44bn, down 34.4%.

Outlook and guidance

• FY2024 forecast, unchanged: net sales ¥54,900m, operating income ¥14,000m, ordinary income ¥15,400m and attributable net income ¥7,600m; forecast EPS ¥288.34.

• Base-plan FY2026 targets: net sales ¥64,100m and operating income ¥16,830m; upside sales target ¥131,100m, including ¥24,000m from LE System and ¥43,000m from M&A-related sales.

• Semiconductor market recovery was expected from H2 2024 after continued stagnation in H1.

• Forecasts use available information and assumptions; actual results may differ due to changing conditions and other factors.