Chichibu Railway Co.,Ltd., July-September (2Q) Ordinary Profit Turns to Loss

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Thu Nov 14, 2024 4:00 pm JST Earnings

9012 Chichibu Railway Co.,Ltd. 【J-GAAP】

Earnings Report

Chichibu Railway Co.,Ltd. <9012> [TSE-S] announced its financial results after the market closed on November 14th (16:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) expanded to 67 million yen, an increase of 55.8% compared to the same period last year. The progress rate against the 100 million yen full-year plan was 67.0%, it was below the same period of the previous year of 226.3%.

Based on the first-half performance announced by the company and the unchanged full-year plan, our calculation indicates that the consolidated ordinary profit/loss for the October to March period (second half) is expected to turn into a profit of 33 million yen (compared to a loss of 24 million yen in the same period last year).

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit/loss turned to a loss of 32 million yen (compared to a profit of 57 million yen in the same period last year). The operating profit/loss margin drastically worsened from 5.0% in the same period last year to -1.9%.

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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	2,292	-199	-160	-194	-130.7	ー	Nov 11, 2022	J-GAAP
Apr - Sep, 2023	2,417	32	43	234	158.2	226.3	Nov 9, 2023	J-GAAP
Apr - Sep, 2024	2,575	82	67	25	17.1	67.0	Nov 14, 2024	J-GAAP
YoY	+6.5%	+156.3%	+55.8%	-89.3%	-89.2%

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	2,570	90	70	30	20.2	0	Nov 6, 2024	J-GAAP
Apr - Sep, 2024 Results	2,575	82	67	25	17.1	0	Nov 14, 2024	J-GAAP
Revision Rate	+0.2%	-8.9%	-4.3%	-16.7%	-15.2%

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	2,496	-16	-24	-142	-96.2	0	May 15, 2024	J-GAAP
Oct - Mar, 2024 Guidance	2,525	68	33	-5	-3.4	0	Nov 14, 2024	J-GAAP
YoY	+1.2%	－	－	+96.5%	+96.5%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	4,688	-361	-311	-5,046	-3,397.0	0	May 12, 2023	J-GAAP
Mar, 2024	4,913	16	19	92	62.3	0	May 15, 2024	J-GAAP
Mar, 2025 Guidance	5,100	150	100	20	13.5	0	May 24, 2024	J-GAAP
YoY	+3.8%	+837.5%	+426.3%	-78.3%	-78.4%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	1,208	61	57	-241	-162.9	5.0	Nov 9, 2023	J-GAAP
Oct - Dec, 2023	1,391	108	103	99	66.8	7.8	Feb 8, 2024	J-GAAP
Jan - Mar, 2024	1,105	-124	-127	-241	-163.3	-11.2	May 15, 2024	J-GAAP
Apr - Jun, 2024	1,284	106	99	80	54.1	8.3	Aug 9, 2024	J-GAAP
Jul - Sep, 2024	1,291	-24	-32	-55	-37.7	-1.9	Nov 14, 2024	J-GAAP
YoY	+6.9%	－	－	+77.2%	+76.9%