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ORIENTAL LAND CO.,LTD., First Half Ordinary Profit Decreases by 18%, July-September Ordinary Profit Decreases by 23%

Wed Oct 30, 2024 4:00 pm JST Earnings

4661 ORIENTAL LAND CO.,LTD. 【J-GAAP】

Earnings Report

ORIENTAL LAND CO.,LTD. <4661> [TSE-P] announced its financial results after the market closed on October 30th (16:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) decreased by 17.7% from the same period last year to 63.9 billion yen. The progress rate against the 171 billion yen full-year plan was 37.2%, also falling below the five-year average of 48.2%.

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 grow by 22.1% from the same period last year, reaching 107 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit decreased to 29.9 billion yen, a 22.7% decrease compared to the same period last year. The operating profit margin decreased from 26.7% in the same period last year to 20.1%.

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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 204,043 37,993 38,584 26,459 16.2 34.5 Oct 27, 2022 J-GAAP
Apr - Sep, 2023 284,330 77,071 77,745 54,549 33.3 46.8 Oct 30, 2023 J-GAAP
Apr - Sep, 2024 297,267 63,198 63,972 45,523 27.8 37.2 Oct 30, 2024 J-GAAP
YoY +4.5% -18.0% -17.7% -16.5% -16.6%

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 314,966 69,249 70,455 48,424 29.6 7 Apr 26, 2024 J-GAAP
Apr - Sep, 2024 Results 297,267 63,198 63,972 45,523 27.8 7 Oct 30, 2024 J-GAAP
Revision Rate -5.6% -8.7% -9.2% -6.0% -6.0%

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 334,163 88,366 88,260 65,676 40.1 8 Apr 26, 2024 J-GAAP
Oct - Mar, 2024 Guidance 387,497 106,802 107,777 74,994 45.8 7 Oct 30, 2024 J-GAAP
YoY +16.0% +20.9% +22.1% +14.2% +14.1%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 483,123 111,199 111,789 80,734 49.3 8 Apr 27, 2023 J-GAAP
Mar, 2024 618,493 165,437 166,005 120,225 73.4 13 Apr 26, 2024 J-GAAP
Mar, 2025 Guidance 684,764 170,000 171,749 120,517 73.5 14 Apr 26, 2024 J-GAAP
YoY +10.7% +2.8% +3.5% +0.2% +0.2%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 143,726 38,391 38,687 27,110 16.6 26.7 Oct 30, 2023 J-GAAP
Oct - Dec, 2023 181,946 64,596 64,754 45,282 27.6 35.5 Jan 30, 2024 J-GAAP
Jan - Mar, 2024 152,217 23,770 23,506 20,394 12.5 15.6 Apr 26, 2024 J-GAAP
Apr - Jun, 2024 148,421 33,336 34,058 24,451 14.9 22.5 Jul 30, 2024 J-GAAP
Jul - Sep, 2024 148,846 29,862 29,914 21,072 12.9 20.1 Oct 30, 2024 J-GAAP
YoY +3.6% -22.2% -22.7% -22.3% -22.3%

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