Odakyu Electric Railway, The Current Fiscal Year Ordinary Profit Revised Upward by 7%

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Thu Feb 13, 2025 3:30 pm JST Earnings

9007 Odakyu Electric Railway Co.,Ltd 【J-GAAP】

Earnings Report

Odakyu Electric Railway Co.,Ltd <9007> [TSE Prime] announced its financial results after the market closed on February 13th (15:30). The consolidated ordinary profit for the cumulative third quarter of the fiscal year ending March 2025 (April to December) increased 11.0% from the same period last year, reaching 45 billion yen.

In addition, the full-year consolidated ordinary profit has been revised upward 7.1%, from the previous forecast of 46.7 billion yen to 50 billion yen (compared to 50.6 billion yen in the previous period), and the declining rate is expected to decrease from 7.8% to 1.3%.

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 19.5%, from the previous forecast of 16.9 billion yen to 20.2 billion yen (compared to 23.6 billion yen in the same period of the previous year), and the declining rate is expected to decrease from 28.4% to 14.4%.

In the most recent three-month period, from October to December (3Q), the consolidated ordinary profit grew 12.7% from the same period last year, reaching 15.2 billion yen. The operating profit margin rose from 14.2% in the same period last year to 15.2%.

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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	295,648	23,842	23,828	10,967	30.2	94.9	Feb 8, 2023	J-GAAP
Apr - Dec, 2023	293,633	40,423	40,578	31,110	85.7	80.1	Feb 8, 2024	J-GAAP
Apr - Dec, 2024	312,470	44,675	45,032	43,486	122.7	90.1	Feb 13, 2025	J-GAAP
YoY	+6.4%	+10.5%	+11.0%	+39.8%	+43.2%

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	214,256	18,963	16,930	9,420	27.3	15	Nov 13, 2024	J-GAAP
Oct - Mar, 2024 New	214,256	21,963	20,230	11,020	31.9	15	Feb 13, 2025	J-GAAP
Revision Rate	0.0%	+15.8%	+19.5%	+17.0%	+17.0%

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	424,000	48,000	46,700	42,400	122.8	30	Nov 13, 2024	J-GAAP
Mar, 2025 New	424,000	51,000	50,000	44,000	127.5	30	Feb 13, 2025	J-GAAP
Revision Rate	0.0%	+6.3%	+7.1%	+3.8%	+3.8%

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	213,583	24,165	23,629	55,400	153.1	19	May 14, 2024	J-GAAP
Oct - Mar, 2024 Guidance	214,256	21,963	20,230	11,020	31.9	15	Feb 13, 2025	J-GAAP
YoY	+0.3%	-9.1%	-14.4%	-80.1%	-79.1%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	395,159	26,601	25,119	40,736	112.1	21	Apr 28, 2023	J-GAAP
Mar, 2024	409,837	50,766	50,670	81,524	225.3	30	May 14, 2024	J-GAAP
Mar, 2025 Guidance	424,000	51,000	50,000	44,000	127.5	30	Feb 13, 2025	J-GAAP
YoY	+3.5%	+0.5%	-1.3%	-46.0%	-43.4%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Oct - Dec, 2023	97,379	13,822	13,537	4,986	13.7	14.2	Feb 8, 2024	J-GAAP
Jan - Mar, 2024	116,204	10,343	10,092	50,414	139.3	8.9	May 14, 2024	J-GAAP
Apr - Jun, 2024	109,596	16,798	18,407	25,124	70.2	15.3	Aug 9, 2024	J-GAAP
Jul - Sep, 2024	100,148	12,239	11,363	7,856	22.0	12.2	Nov 13, 2024	J-GAAP
Oct - Dec, 2024	102,726	15,638	15,262	10,506	29.6	15.2	Feb 13, 2025	J-GAAP
YoY	+5.5%	+13.1%	+12.7%	+110.7%	+115.8%