MELCO HOLDINGS INC., First Half Ordinary Profit Increases by 94%, July-September Ordinary Profit Increases by 94%

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Tue Nov 12, 2024 3:40 pm JST Earnings

6676 MELCO HOLDINGS INC. 【J-GAAP】

Earnings Report

MELCO HOLDINGS INC. <6676> [TSE-S] announced its financial results after the market closed on November 12th (15:40). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) expanded to 3.2 billion yen, an increase of 94.5% compared to the same period last year. The progress rate against the 5.2 billion yen full-year plan was 61.6%, almost the same as the five-year average of 62.6%.

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 surge by 2.2 times that of the same period last year, reaching 1.99 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit increased by 94.4% from the same period last year, reaching 1.77 billion yen. The operating profit margin improved from 2.9% in the same period last year to 4.5%.

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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	68,707	3,310	3,318	2,190	129.8	70.3	Nov 14, 2022	J-GAAP
Apr - Sep, 2023	70,050	1,798	1,647	1,275	75.8	64.0	Nov 13, 2023	J-GAAP
Apr - Sep, 2024	73,896	3,008	3,203	1,942	120.8	61.6	Nov 12, 2024	J-GAAP
YoY	+5.5%	+67.3%	+94.5%	+52.3%	+59.3%

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	－	60	May 13, 2024	J-GAAP
Apr - Sep, 2024 Results	73,896	3,008	3,203	1,942	120.8	60	Nov 12, 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	75,723	799	928	1,737	103.6	60	May 13, 2024	J-GAAP
Oct - Mar, 2024 Guidance	59,104	2,192	1,997	1,458	95.9	40	Nov 12, 2024	J-GAAP
YoY	-21.9%	+174.3%	+115.2%	-16.1%	-7.5%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	142,576	4,518	4,718	3,057	181.2	120	May 12, 2023	J-GAAP
Mar, 2024	145,773	2,597	2,575	3,012	179.7	120	May 13, 2024	J-GAAP
Mar, 2025 Guidance	133,000	5,200	5,200	3,400	223.6	100	Aug 26, 2024	J-GAAP
YoY	-8.8%	+100.2%	+101.9%	+12.9%	+24.5%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	35,315	1,037	913	725	43.1	2.9	Nov 13, 2023	J-GAAP
Oct - Dec, 2023	39,019	1,359	1,363	758	45.2	3.5	Feb 13, 2024	J-GAAP
Jan - Mar, 2024	36,704	-560	-435	979	58.4	-1.5	May 13, 2024	J-GAAP
Apr - Jun, 2024	35,864	1,305	1,428	804	48.2	3.6	Aug 9, 2024	J-GAAP
Jul - Sep, 2024	38,032	1,703	1,775	1,138	70.8	4.5	Nov 12, 2024	J-GAAP
YoY	+7.7%	+64.2%	+94.4%	+57.0%	+64.2%