Seiko Epson (6724) Q4 2024 earnings summary

Executive summary

• FY2024 revenue declined 1.2% YoY to ¥1,314.0 billion; business profit fell 31.9% to ¥64.7 billion, mainly on sharply lower microdevices revenue and production constraints.

• Profit attributable to owners fell 29.9% to ¥52.6 billion; operating cash flow rose to ¥165.6 billion from ¥61.3 billion, helped by inventory reductions.

Financial highlights

• Revenue was ¥1,313.998 billion, down 1.2% YoY; gross profit was ¥456.666 billion versus ¥466.651 billion.

• Business profit was ¥64.721 billion, down 31.9%; operating profit was ¥57.533 billion, down 40.7%.

• Profit before tax declined 32.4% to ¥70.094 billion; profit for the period fell 29.9% to ¥52.620 billion.

• Profit attributable to owners was ¥52.616 billion; basic EPS was ¥158.68 versus ¥220.75 YoY.

Outlook and guidance

• FY2025 guidance: revenue ¥1,330.0 billion (+1.2% YoY), business profit ¥80.0 billion (+23.6%), and operating profit ¥71.0 billion (+23.4%).

• Profit before tax is forecast at ¥68.0 billion (-3.0%); profit attributable to owners at ¥48.0 billion (-8.8%) and basic EPS at ¥144.74.

• Forecast assumes ¥144/$ and ¥155/€; actual results may vary with economic conditions, product launches, consumption, competition, technology trends and exchange rates.