Avicopter (600038) Q3 2025 earnings summary

Executive summary

• Net profit attributable to shareholders for Q3 rose 51.33% year-over-year to ¥90.43 million, despite a 47.33% drop in quarterly revenue to ¥4.81 billion due to lower product deliveries.

• Year-to-date revenue increased 25.61% to ¥15.05 billion, with net profit up 4.32% to ¥372.72 million compared to the same period last year.

Financial highlights

• Q3 operating cash flow was negative at -¥9.02 billion, a 21.21% year-over-year decrease.

• Basic and diluted EPS for Q3 were ¥0.1103, up 45.90% year-over-year; year-to-date EPS was ¥0.4546, down 4.42%.

• Gross margin and EBIT not explicitly disclosed, but operating profit for the first nine months was ¥339.73 million, down from ¥410.62 million a year ago.

Outlook and guidance

• Management attributes Q3 revenue decline to lower product deliveries and expects future performance to depend on product mix and delivery schedules.