Oisix ra daichi (3182) Q1 2025 earnings summary

Executive summary

• Sales rose 116% year-over-year to ¥63,223 million, driven by SHIDAX consolidation as a subsidiary from Q4 of the previous year.

• EBITDA increased 57% to ¥2,636 million, outperforming initial plans due to improved work efficiency and better profit margins.

• Operating profit rose 13% to ¥1,249 million, while net profit attributable to owners declined 57% to ¥352 million, mainly due to higher interest expenses and income taxes.

• Synergies with SHIDAX are being realized through labor optimization, cost reduction, and new product initiatives.

• Net income per share for Q1 FY2025 was ¥9.68, down from ¥22.36 in the prior year period.

Financial highlights

• Q1 sales: ¥63.22bn (+116% YoY); EBITDA: ¥2.63bn (+57% YoY); operating profit: ¥1.24bn (+13% YoY); net profit: ¥0.35bn (−57% YoY).

• Gross profit for Q1 FY2025 was ¥18,650 million, up from ¥14,503 million in the prior year.

• Operating margin compressed as SG&A expenses grew to ¥17,401 million.

• Comprehensive income for the quarter was ¥579 million, down from ¥905 million a year ago.

• Shareholders’ equity ratio stood at 19.9% as of June 30, 2024.

Outlook and guidance

• Full-year FY2025 guidance projects net sales of ¥255,000 million (+71.8% YoY), operating income of ¥7,000 million (+36.1%), and EBITDA of ¥11,000 million (+33.0%).

• Profit attributable to owners is forecast at ¥3,200 million, with net income per share of ¥87.53.

• PR expenses will be curbed in Q2 due to seasonality, with a focus on efficient subscriber acquisition and aiming for growth in the second half.

• Continued focus on cost efficiency, labor optimization, and leveraging SHIDAX synergies for future growth.