bearish
Olympus Corp (7733 JP): One-Off Events Boost H1FY25 Result; Not Optimistic About FY25 Guidance
550 Views28 Nov 2024 23:13
SUMMARY
- Olympus Corp (7733 JP) shares retreated 17% over the last one month, dragged by resignation of the CEO and weak H1FY25 result. No definite time for CEO succession is announced.
- Favorable Fx inflated H1FY25 result. On a Fx neutral basis, revenue growth is only 3% YoY, while adjusted operating profit growth is just 4% YoY.
- Olympus has guided for 9% YoY revenue growth to ¥1,009B in FY25, indicating H2FY25 revenue of ¥535B (-9% YoY). ESD revenue guidance seems to be aggressive amid current macro backdrop.
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Tina Banerjee
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