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Kobe Electric Railway, The Current Fiscal Year Ordinary Profit Revised Upward to an Unexpected 5% Increase, Dividend Revised Upward by 10 yen

Mon Feb 3, 2025 3:30 pm JST Earnings

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

Earnings Report

Kobe Electric Railway Co.,Ltd. <9046> [TSE Prime] announced its financial results after the market closed on February 3rd (15:30). The consolidated ordinary profit for the cumulative third quarter of the fiscal year ending March 2025 (April to December) increased 16.9% from the same period last year, reaching 1.71 billion yen.

In addition, the full-year consolidated ordinary profit has been revised upward 15.3%, from the previous forecast of 1.24 billion yen to 1.43 billion yen (compared to 1.35 billion yen in the previous period), turning to a 5.3% increase in the consolidated ordinary profit outlook.

Based on the full-year plan announced by the company after the upward revision, our estimate of the consolidated ordinary profit for the October to March period (2H) has been revised upward 2.2 times, from the previous forecast of 0.15 billion yen to 0.34 billion yen (compared to 0.43 billion yen in the same period of the previous year), and the declining rate is expected to decrease from 63.8% to 20.2%.

In light of the strong performance, the company has significantly increased its planned year-end lump-sum dividend for the current fiscal year from the original plan of 10 yen to 20 yen (compared to 10 yen in the previous period).

In the most recent three-month period, from October to December (3Q), the consolidated ordinary profit grew 16.1% from the same period last year, reaching 0.63 billion yen. The operating profit margin rose from 11.6% in the same period last year to 13.0%.

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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
Apr - Dec, 2022 15,907 1,558 1,241 982 122.3 124.3 Jan 31, 2023 J-GAAP
Apr - Dec, 2023 16,492 1,802 1,467 1,151 143.3 108.0 Feb 6, 2024 J-GAAP
Apr - Dec, 2024 16,569 2,020 1,715 1,230 153.2 119.9 Feb 3, 2025 J-GAAP
YoY +0.5% +12.1% +16.9% +6.9% +6.9%

Guidance Update

Second Half Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Oct - Mar, 2024 Prev 10,675 461 158 117 14.8 10 Oct 30, 2024 J-GAAP
Oct - Mar, 2024 New 11,095 591 348 247 31.2 20 Feb 3, 2025 J-GAAP
Revision Rate +3.9% +28.2% +120.3% +111.1% +111.1%

Full Year Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2025 Prev 21,640 1,750 1,240 900 113.7 10 May 13, 2024 J-GAAP
Mar, 2025 New 22,060 1,880 1,430 1,030 130.2 20 Feb 3, 2025 J-GAAP
Revision Rate +1.9% +7.4% +15.3% +14.4% +14.4%

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 11,095 591 348 247 31.2 20 Feb 3, 2025 J-GAAP
YoY -2.6% -15.8% -20.2% -8.5% -7.1%

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 22,060 1,880 1,430 1,030 130.2 20 Feb 3, 2025 J-GAAP
YoY -1.1% +1.1% +5.3% +0.6% +2.1%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
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
Oct - Dec, 2024 5,604 731 633 447 55.7 13.0 Feb 3, 2025 J-GAAP
YoY +0.6% +13.3% +16.1% +12.6% +12.6%

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