Financial Results for the 2nd Quarter of
Fiscal Year Ending July 31, 2022
RAKSUL INC. (TSE First Section: 4384)
March 11, 2022
- Financial Summary and Forecast
- Company Overview
- Financial Highlights
- Q&A
- Reference Materials
2
Financial Summary and Forecast
3
Quarterly Financial
Summary
Company
wide
Raksul
Novasell
Hacobell
Companywide: Revenue +20.8% YoY, Gross Profit +30.7% YoY
- Continued 30% gross profit growth in organic businesses.
Revenue growth is also over 30% YoY based on previous accounting methods
-
Growth will accelerate with the contribution from DANBALL ONE INC.
("DANBALL ONE") starting in 3Q
Raksul Business Segment ("Raksul"):
Revenue +20.1% YoY, Gross Profit +24.6% YoY
- Gross profit growth continues despite limited impact from another wave of COVID-19 ("COVID") since January
- Gross margin increased to 27.9%
Novasell Business Segment ("Novasell"):
Revenue +102.3% YoY, Gross Profit +110.0% YoY
- Both revenue and gross profit doubled YoY
Hacobell Business Segment ("Hacobell"):
Revenue -16.8% YoY, Gross Profit -26.6% YoY
- Both revenue and gross profit decreased YoY due to the temporary increase in demand for food delivery in 2Q of last year, but they continue to grow QoQ with segment loss on a shrinking trend
- Gross margin dropped slightly to secure supply during the busy season, but is expected to improve to around 15% in 3Q
4
FY2022 Full-Year
Consolidated Forecast
(in JPY, Bn)
FY2022 Full-year
(2021/8-2022/7)
Disclosed on 2022/2 | Disclosed on 2021/12 |
Non-consolidated | |
Consolidated | |
Forecast | |
Forecast | |
(New Revenue Recognition | |
(New Revenue Recognition Standards) | |
Standards) | |
FY2021 Full-year(1) (2020/8-2021/7)
Non-consolidated | YoY Growth |
Result |
(New Revenue Recognition
Standards)
Financial Implications
Gross profit
- We continue to achieve more than 40% |
gross profit growth while maintaining |
EBITDA Margin |
- DANBALL ONE's contribution to |
financials results will start from 3Q. |
(Disclosed in February 2022)
Revenue
35.6 - 36.6 | Over 33.2 | 25.5 | +39 - 43% |
Gross profit growth of 30.7% YoY in 2Q, |
with continued growth of organic |
businesses |
◼ Consolidated Financial Forecast |
includes the financials of DANBALL |
ONE, whose acquisition was |
completed as of February 1, 2022 |
◼ We expect to achieve growth far |
exceeding our initial forecast and our |
mid-to-long term financial policy of |
over 30% in gross profit |
◼ While the most important financial |
indicator remains to be the gross |
profit, we have shifted our profit/CF |
indicator from operating profit (non- |
GAAP) to EBITDA (non-GAAP)(2) |
Gross Profit | 10.2 - 10.6 | Over 9.3 | 7.09 | +44 - 49% | |
Gross Margin | 28.7 - 29.0% | - | 27.8% | +0.9 - 1.2pt | |
EBITDA | 1.44 - 1.54 | - | 1.03 | +40 - 49% | |
(non-GAAP) | (2) | ||||
Operating Profit | 1.0 - 1.1 | Over 1.0 | 0.83 | +20 - 32% | |
(non-GAAP)(2) | |||||
Reference index | |||||
EBITDA | 4.0 - 4.2% | - | 4.0% | +0.0 - 0.2pt | |
Margin | |||||
EBITDA | 4.3 - 4.4 | - | 2.98 | +44 - 47% | |
(excl. Ad Spend, non-GAAP) | |||||
ROE | 4.2 - 4.8%(3) | - | 2.3% | +1.9 - 2.5pt | |
Gross Margin
Companywide gross margin is expected to improve to the mid to high 28% range as a result of the change in accounting standards for Novasell and the acquisition of DANBALL ONE as a wholly owned subsidiary
EBITDA
(non-GAAP, excl. Ad Spend) All advertising expenses are variable costs, and cashflow (which is controllable) is steadily increasing. Depending on the economic environment, it is possible to steer the company to generate even more profit
ROE
ROE is expected to land at around 4.5% for the current fiscal year
Notes
- Since consolidated accounting was not conducted prior to FY2021, non-consolidated accounting results and growth rates are provided for reference. The same applies hereinafter
- EBITDA (non-GAAP)=Operating Profit + Depreciation + Amortization of goodwill + Stock compensation expense
Operating Profit (non-GAAP)= Operating Profit + Stock compensation expense
(3) As the fiscal year ending July 2022 is the first year of consolidation, the figure is calculated by5 dividing the forecast for Profit (loss) attributable to owners of the parent (JPY 320-370MM) by the assumed amount of equity capital at the end of the fiscal year
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Raksul Inc. published this content on 11 March 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 11 March 2022 06:15:11 UTC.