bullish
3Q Follow-Up - Golf Digest Online (3319 JP)
SUMMARY
- GDO announced 3Q cumulative (9M) FY23/12 consolidated financial results at 15:00 on Monday 11/13.
- Headline figures were net sales +15.6% YoY (see PP2-4 for brief explanations by segment), EBITDA -4.4%, OP swung sharply into loss (see P5 for OP factor analysis by segment) due to GW etc. amortization, ordinary profit -73.8% due to the increase in interest expense in addition to the OP loss, and profit attributable to owners of parent -90.5%, mainly due to the disappearance of the extraordinary gain on debt forgiveness of the COVID PPP loan program in the US in Feb-2022.
- As difficult market conditions in the domestic market are expected to continue, GDO revised down full-term FY23/12 guidance.
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