IDOM : 1st Quarter Results for Fiscal Year Ending February 28, 2025
July 12, 2024 at 02:51 am
Share
Q 1 F Y 2 0 2 5
1st Quarter Results
for Fiscal Year Ending February 28, 2025
J u l y 1 2 t h , 2 0 2 4
T S E P r i m e 7 5 9 9
I D O M I n c .
C o n t e n t s
1.
1st Quarter Results Summary FY2025
-4
2.
Market Environment Perception and Initiatives for Businesses
-15
3.
APPENDIX
-21
4.
APPENDIX (Supplementary Information on Results and Financial Matters)
-40
3
1.1st Quarter Results Summary FY2025
Q1 FY2025 Results Highlights
Consolidated
Record quarterly operating profit
4.4 billion yen
Operating profit
+60.5% YoY
Retail sales Gross profit per retail unit
Gross profit per
400,000 yen/unit x
retail unit
Retail sales
Retail Unit Sales
Retail Unit
38,842 units
Sales
* 2025 indicates the fiscal year ending February 28, 2025.
Operating profit increased 60.5% year on year, showing a good start toward the results forecast.
A record high of 4.5 billion yen was achieved in the first quarter on a non-consolidated basis.
Gross profit per retail unit maintained at high levels, showing an increase of 70,000 yen year on year.
Retail unit sales: 38,842 units
Retail unit sales remained mostly unchanged. (YoY: -400 units)
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Highlights Trend in FY2025 Operating Profit
Operating
profit
Ordinary profit
margin (%)
Operating
profit growth
rate
(billion yen)
Q1 (YoY)
Australian subsidiary whose shares were transferred
6.0 Consolidated(Excluding Australia)
4.0
1.2
1.3
2.0
3.9
4.0
2.8
4.4
0.0
2022
2023
2024
2025
4.3%
3.9%
2.6%
3.5%
3.4%
-47.3%
60.5%
(billion yen)
Quarterly trend
6.0
5.0
4.0
3.0
4.3
5.3
4.4
2.0
3.7
2.8
1.0
0.0
2024 Q1
2024 Q2
2024 Q3
2024 Q4
2025 Q1
2.6%
4.4%
3.6%
4.7%
3.5%
* 2025 indicates the fiscal year ending February 28, 2025.
6
Highlights Trend in Gross Profit per Retail Unit
(ten thousand yen)
FY2023
FY2024
FY2025
50
45
45
43
46
Targeted gross profit per unit for the current year
40
40
3533
33
30
Q1
Q2
Q3
Q4
Maintained gross profit per retail unit.
* 2025 indicates the fiscal year ending February 28, 2025.
7
Highlights KPIs for FY2025 Q1
2023 Q1
2024 Q1
2025 Q1
Changes
Number
Store opening of large stores
3
0
1
+1
of stores
(stores)
Number of retail unit sales
37.5
39.2
38.8
-0.4
Number
(thousand units)
of units
Number of wholesales unit
43.1
+8.8
29.0
34.3
(thousand units)
Gross profit per retail unit
33
33
40
+7
Gross
(ten thousand yen)
profit per
unit
Gross profit per wholesale
10
9
12
+3
unit (ten thousand yen)
Retail unit sales decreased slightly due to the curbing of discounted sales that had been conducted in the first quarter usually.
* 2025 indicates the fiscal year ending February 28, 2025.
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Consolidated FY2025 Q1 Results
(billion yen)
2024
2025
Ratio to net
YoY
Percent
sales
changes
change
124.6
Net sales
105.3
100.0%
+19.3
+18.3%
Gross profit
17.1
21.5
17.3%
+4.4
+25.7%
Selling, general and
14.3
17.1
13.7%
+2.7
+19.0%
administrative expenses
Operating profit
2.8
4.4
3.5%
+1.7
+60.5%
Ordinary profit
2.7
4.3
3.5%
+1.6
+60.0%
Profit attributable
1.9
2.9
2.3%
+1.0
+55.3%
to owners of parent
* 2025 indicates the fiscal year ending February 28, 2025.
Consolidated FY2025 Analysis of Factors in YoY Change in Operating Profit
(billion yen)
Non-consolidated factors (+1.7)
Retail sales increased 2.2 billion yen due to higher gross profit per unit, while wholesale sales were up 2.0 billion yen, reflecting the impact of an increase in units.
Personnel expenses and hiring expenses increased due to high volume hiring in preparation for the opening of large stores.
With large stores scheduled to open in the second half of 2024, rent expenses on land and buildings and advertising expenses increased.
The results of subsidiaries showed a decrease of 0.1 billion yen.
* 2025 indicates the fiscal year ending February 28, 2025.
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IDOM Inc is a Japan-base company principally engaged in the used car sales business, new car sales business and related businesses. The Company operates its business through three geographical segments: Japan, Australia and Others. The Company sells vehicles purchased at Gulliver stores through used car auctions and the dolphinet system. Gulliver stores operate through directly managed stores and member stores. Through its subsidiaries, the Company is also involved in the sale of new and used cars, the insurance agency business, the sale and maintenance of BMW passenger cars, as well as the sale of repair parts and accessories.