ZERO (9028) Q1 2025 earnings summary

Executive summary

• Revenue for Q1 FY2025 rose to ¥34,312 million, up 8.3% year-over-year, with operating profit up 142.2% to ¥2,724 million and net income attributable to owners up 166.2% to ¥1,887 million.

• All major business segments except general cargo posted revenue and profit growth, with domestic automotive and human resource businesses leading gains.

• Cash and cash equivalents increased by 467 million yen from the previous fiscal year-end, reaching ¥11,784 million.

Financial highlights

• Operating margin improved to 7.9% from 3.5% year-over-year, and gross profit increased to ¥5,214 million from ¥3,642 million.

• Pre-tax profit reached ¥2,715 million, up ¥1,577 million year-over-year.

• Basic earnings per share rose to ¥111.55 from ¥42.01 year-over-year.

• Total assets at quarter-end were ¥70,770 million, with equity of ¥38,849 million and an equity ratio of 54.0%.

• Operating cash flow was ¥1,280 million, down from ¥1,772 million in the prior year.

Outlook and guidance

• FY2025 revenue forecast is ¥135,000 million, with operating profit projected at ¥8,100 million, up 30.1% year-over-year.

• Net income forecast is ¥5,500 million, up 32.5% year-over-year, with EPS of ¥325.46.

• Annual dividend per share expected to rise to ¥107.40, payout ratio 33.0%.

• No revisions to the previously published earnings forecast.