OFILM Group Co. (002456) Q3 2024 earnings summary

Executive summary

• Revenue for Q3 2024 reached ¥4.94 billion, up 9.56% year-over-year; year-to-date revenue was ¥14.47 billion, up 33.76% year-over-year.

• Net profit attributable to shareholders for Q3 was ¥7.97 million, down 85.32% year-over-year; year-to-date net profit was ¥47.12 million, up 115.74% year-over-year.

• Excluding non-recurring items, Q3 net profit was ¥41.10 million, up 801.95% year-over-year.

• Operating cash flow for Q3 was ¥164.88 million, up 149.90% year-over-year.

Financial highlights

• Gross margin improved as revenue growth outpaced cost increases; year-to-date gross profit rose with a 33.76% revenue increase and a 28.31% cost increase.

• Other income surged 482.70% year-over-year, mainly due to increased government subsidies and VAT credits.

• Basic EPS for Q3 was ¥0.0024, down 85.63% year-over-year; year-to-date EPS was ¥0.0144, up 115.67% year-over-year.

• Total assets at Q3-end were ¥21.24 billion, up 6.52% from year-end 2023.

Outlook and guidance

• The company continues to utilize idle raised funds to supplement working capital, with recent board approvals for up to ¥1.55 billion in temporary use for operations.