Soliton Systems (3040) Q2 2024 earnings summary

Executive summary

• Net sales for the six months ended June 30, 2024, were ¥8,542 million, down 2.9% year-over-year.

• Operating profit decreased by 30.1% to ¥647 million compared to the same period last year.

• Ordinary profit fell 23.7% year-over-year to ¥833 million.

• Profit attributable to owners of parent declined 19.7% to ¥585 million.

Financial highlights

• Gross profit for the period was ¥3,766 million, slightly down from ¥3,826 million year-over-year.

• Earnings per share for the six months ended June 30, 2024, was ¥31.60, compared to ¥39.37 last year.

• Total assets as of June 30, 2024, were ¥21,956 million, down from ¥22,624 million at the end of 2023.

• Equity ratio improved to 51.6% from 49.1% at the previous year-end.

• Cash and deposits increased to ¥14,076 million from ¥13,394 million at the previous year-end.

Outlook and guidance

• Full-year net sales forecast is ¥20,000 million, up 4.9% year-over-year.

• Operating profit for the full year is projected at ¥2,870 million, a 10.0% increase year-over-year.

• Profit attributable to owners of parent is forecast at ¥1,940 million, flat year-over-year.

• Full-year earnings per share forecast is ¥104.70.

• Annual dividend forecast is ¥26.00 per share.