Tazmo (6266) Q3 2024 earnings summary

Executive summary

• Net sales for Q3 FY2024 reached ¥24,739 million, a 30% year-over-year increase, despite falling short of plan due to equipment delivery delays.

• Operating income surged 91.3% year-over-year to ¥4,601 million, significantly exceeding plan.

• Profit attributable to owners of parent more than doubled, up 101.1% year-over-year to ¥3,094 million.

• Comprehensive income increased to ¥3,233 million from ¥2,211 million year-over-year.

• Profit growth was driven by higher sales and reductions in R&D, depreciation, and SG&A expenses.

Financial highlights

• Gross profit increased 45.7% year-over-year to ¥8,661 million.

• Ordinary income grew 68.2% year-over-year to ¥4,524 million.

• Earnings per share for the period were ¥211.27, compared to ¥105.44 in the prior year.

• Q3 FY2024 net sales were ¥24,739 million versus ¥19,034 million in Q3 FY2023.

• Net assets increased to ¥23,005 million from ¥20,095 million at year-end 2023.

Outlook and guidance

• FY2024 net sales estimate is ¥36,000 million, with 68.7% of the plan achieved by Q3.

• Full-year operating profit is projected at ¥4,600 million, up 25.9% year-over-year.

• Full-year profit attributable to owners of parent is forecast at ¥3,060 million, up 29.8% year-over-year.

• Full-year earnings per share forecast is ¥209.48.

• Continued market expansion is expected in advanced packaging and PLP equipment.