GREENLAND RESORT COMPANY LIMITED, January-September (Third Quarter Cumulative) Ordinary Profit Decreases by 19%, Exceeds Full-Year Plan

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Mon Nov 11, 2024 3:30 pm JST Earnings

9656 GREENLAND RESORT COMPANY LIMITED 【J-GAAP】

Earnings Report

GREENLAND RESORT COMPANY LIMITED <9656> [TSE-S] announced its financial results after the market closed on November 11th (15:30). The consolidated ordinary profit for the cumulative third quarter of the fiscal year ending December 2024 (January to September) decreased by 19.4% from the same period last year to 669 million yen. However, The progress rate against the full-year plan of 620 million yen is 107.9%, already exceeding the target and also exceeding the five-year average of 86.2%.

Based on the third-quarter cumulative performance announced by the company and the unchanged full-year plan, our calculation indicates that the consolidated ordinary profit/loss for the October to December period (4Q) is expected to turn into a loss of 49 million yen (compared to a profit of 61 million yen in the same period last year).

In the most recent three-month period, from July to September (3Q), the consolidated ordinary profit decreased to 395 million yen, a 7.9% decrease compared to the same period last year. The operating profit margin decreased from 23.0% in the same period last year to 21.4%.

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Actual Results

Accumulated Results 3rd Quarter

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Progress Rate vs. First Half	Announce	Accounting Standards
Jan - Sep, 2022	4,168	606	662	479	46.4	80.7	Nov 9, 2022	J-GAAP
Jan - Sep, 2023	4,858	826	830	590	57.1	93.2	Nov 9, 2023	J-GAAP
Jan - Sep, 2024	4,817	659	669	468	45.3	107.9	Nov 11, 2024	J-GAAP
YoY	-0.8%	-20.2%	-19.4%	-20.7%	-20.8%

Current Period Guidance

Second Half Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Jul - Dec, 2023	3,436	496	490	156	15.1	9	Feb 14, 2024	J-GAAP
Jul - Dec, 2024 Guidance	3,757	372	346	237	22.9	8	Aug 9, 2024	J-GAAP
YoY	+9.3%	-25.0%	-29.4%	+51.9%	+51.8%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Dec, 2022	5,732	763	820	428	41.4	12	Feb 13, 2023	J-GAAP
Dec, 2023	6,406	888	891	463	44.9	14	Feb 14, 2024	J-GAAP
Dec, 2024 Guidance	6,700	630	620	430	41.6	13	Feb 14, 2024	J-GAAP
YoY	+4.6%	-29.1%	-30.4%	-7.1%	-7.3%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	1,888	434	429	283	27.4	23.0	Nov 9, 2023	J-GAAP
Oct - Dec, 2023	1,548	62	61	-127	-12.3	4.0	Feb 14, 2024	J-GAAP
Jan - Mar, 2024	1,310	90	100	65	6.4	6.9	May 9, 2024	J-GAAP
Apr - Jun, 2024	1,633	168	174	128	12.4	10.3	Aug 9, 2024	J-GAAP
Jul - Sep, 2024	1,874	401	395	275	26.6	21.4	Nov 11, 2024	J-GAAP
YoY	-0.7%	-7.6%	-7.9%	-2.8%	-2.9%