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Kobe Electric Railway Co.,Ltd., First Half Ordinary Profit Increases by 17%

Wed Oct 30, 2024 3:00 pm JST Earnings

9046 Kobe Electric Railway Co.,Ltd. 【J-GAAP】

Earnings Report

Kobe Electric Railway Co.,Ltd. <9046> [TSE-P] announced its financial results after the market closed on October 30th (15:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) increased by 17.4% from the same period last year, reaching 1.08 billion yen. The progress rate against the 1.24 billion yen full-year plan was 87.3%, also surpassing the five-year average of 70.5%.

Based on the first-half performance announced by the company and the unchanged full-year plan, our calculation indicates that the consolidated ordinary profit for the October to March period (second half) is expected to significant drop by 63.8% from the same period last year to 158 million yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit decreased to 328 million yen, a 6.8% decrease compared to the same period last year. The operating profit margin remained almost flat, changing from 8.8% in the same period last year to 8.6%.

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Actual Results

Accumulated Results 2nd Quarter
Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Progress Rate vs. First Half Announce Accounting Standards
Apr - Sep, 2022 10,337 949 742 588 73.2 74.3 Oct 28, 2022 J-GAAP
Apr - Sep, 2023 10,924 1,157 922 754 93.9 67.9 Oct 30, 2023 J-GAAP
Apr - Sep, 2024 10,965 1,289 1,082 783 97.5 87.3 Oct 30, 2024 J-GAAP
YoY +0.4% +11.4% +17.4% +3.8% +3.8%

First Half Results vs. Previous Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Apr - Sep, 2024 Guidance ー ー ー ー － 0 May 13, 2024 J-GAAP
Apr - Sep, 2024 Results 10,965 1,289 1,082 783 97.5 0 Oct 30, 2024 J-GAAP
Revision Rate － － － － －

Current Period Guidance

Second Half Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Oct - Mar, 2023 11,389 702 436 270 33.6 10 May 13, 2024 J-GAAP
Oct - Mar, 2024 Guidance 10,675 461 158 117 14.8 10 Oct 30, 2024 J-GAAP
YoY -6.3% -34.3% -63.8% -56.7% -56.0%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 21,321 1,391 998 676 84.2 0 May 12, 2023 J-GAAP
Mar, 2024 22,313 1,859 1,358 1,024 127.5 10 May 13, 2024 J-GAAP
Mar, 2025 Guidance 21,640 1,750 1,240 900 113.7 10 May 13, 2024 J-GAAP
YoY -3.0% -5.9% -8.7% -12.1% -10.8%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 5,453 482 352 280 34.9 8.8 Oct 30, 2023 J-GAAP
Oct - Dec, 2023 5,568 645 545 397 49.4 11.6 Feb 6, 2024 J-GAAP
Jan - Mar, 2024 5,821 57 -109 -127 -15.8 1.0 May 13, 2024 J-GAAP
Apr - Jun, 2024 5,549 825 754 537 66.9 14.9 Aug 1, 2024 J-GAAP
Jul - Sep, 2024 5,416 464 328 246 30.6 8.6 Oct 30, 2024 J-GAAP
YoY -0.7% -3.7% -6.8% -12.1% -12.2%

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