SKY Perfect JSAT Holdings (9412) Q1 2025 earnings summary

Executive summary

• Q1 FY2024 operating revenues rose 1.6% year-over-year to ¥30.5 billion, with operating profit reaching a record ¥7.4 billion, and net income attributable to owners of parent at ¥5.0 billion, up 0.9% year-over-year.

• Both Space and Media businesses contributed to growth, with Space Intelligence and cost efficiencies driving performance.

• Comprehensive income declined 31.0% year-over-year to ¥2.9 billion, mainly due to investment losses.

• Aggressive investments are planned, including ¥60 billion for JSAT-31 and ¥2.4 billion for Space Compass.

• No changes in accounting policies or significant restatements during the period.

Financial highlights

• Q1 FY2024 revenue was ¥30.5 billion, up 1.6% year-over-year; operating income rose 7.4% to ¥7.4 billion; net income attributable to owners of parent was ¥5.0 billion, up 0.9% year-over-year.

• EBITDA remained flat at ¥12.6 billion.

• Cash and cash equivalents at term-end increased to ¥110.1 billion, with net interest-bearing debt at -¥57.7 billion.

• Basic earnings per share for the quarter was ¥17.75.

• Total assets as of June 30, 2024, were ¥400.5 billion, with net assets at ¥272.0 billion.

Outlook and guidance

• Full-year net income forecast is ¥18.0 billion, with Q1 progress at 28%.

• Full-year operating revenues are forecast at ¥123.3 billion, up 1.2% year-over-year.

• Operating profit is projected at ¥25.8 billion (down 2.8%), and basic earnings per share at ¥63.55.

• Continued aggressive investments are planned from Q2 onward, targeting over ¥25 billion net income by FY2030.

• No revisions have been made to the previously announced financial results forecast.