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WASHINGTON HOTEL, The Current Fiscal Year Ordinary Profit Revised Upward by 37%, Dividend Revised Upward by 5 yen

Fri Feb 14, 2025 3:30 pm JST Earnings

4691 WASHINGTON HOTEL CORPORATION 【J-GAAP】

Earnings Report

WASHINGTON HOTEL CORPORATION <4691> [TSE Std] announced its financial results after the market closed on February 14th (15:30). The ordinary profit (non-consolidated) for the cumulative third quarter of the fiscal year ending March 2025 (April to December) expanded 1.71 billion yen, an increase 50.7% compared to the same period last year.

In addition, the full-year ordinary profit has been revised upward 36.6%, from the previous forecast of 1.25 billion yen to 1.72 billion yen (compared to 0.93 billion yen in the previous period), increasing the growth rate from 34.4% to 83.6%.

Based on the full-year plan announced by the company after the upward revision, our estimate of the ordinary profit for the October to March period (2H) is expected to increase 74.6%, from the previous forecast of 0.61 billion yen to 1.07 billion yen (compared to 0.32 billion yen in the same period of the previous year), increasing the growth rate from 91.3% to 3.3 times.

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 15 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 ordinary profit surged 2.1 times that of the same period last year, reaching 1.06 billion yen. The operating profit margin jumped from 12.4% in the same period last year to 19.3%.

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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 12,902 2,280 2,189 2,282 189.3 77.8 Feb 13, 2023 J-GAAP
Apr - Dec, 2023 13,994 1,436 1,135 1,103 91.5 121.1 Feb 14, 2024 J-GAAP
Apr - Dec, 2024 16,322 2,055 1,710 1,710 141.8 99.4 Feb 14, 2025 J-GAAP
YoY +16.6% +43.1% +50.7% +55.0% +55.0%

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 10,712 866 618 442 36.8 15 Nov 14, 2024 J-GAAP
Oct - Mar, 2024 New 11,221 1,341 1,079 1,029 85.6 20 Feb 14, 2025 J-GAAP
Revision Rate +4.8% +54.8% +74.6% +132.8% +132.8%

Full Year Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2025 Prev 20,841 1,725 1,259 1,183 98.4 15 May 14, 2024 J-GAAP
Mar, 2025 New 21,350 2,200 1,720 1,770 147.2 20 Feb 14, 2025 J-GAAP
Revision Rate +2.4% +27.5% +36.6% +49.6% +49.6%

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 9,379 682 323 245 20.3 10 May 14, 2024 J-GAAP
Oct - Mar, 2024 Guidance 11,221 1,341 1,079 1,029 85.6 20 Feb 14, 2025 J-GAAP
YoY +19.6% +96.6% +234.1% +320.0% +320.9%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 17,532 2,989 2,815 3,215 266.6 0 May 12, 2023 J-GAAP
Mar, 2024 18,294 1,490 937 835 69.3 10 May 14, 2024 J-GAAP
Mar, 2025 Guidance 21,350 2,200 1,720 1,770 147.2 20 Feb 14, 2025 J-GAAP
YoY +16.7% +47.7% +83.6% +112.0% +112.4%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Oct - Dec, 2023 5,079 628 521 513 42.6 12.4 Feb 14, 2024 J-GAAP
Jan - Mar, 2024 4,300 54 -198 -268 -22.2 1.3 May 14, 2024 J-GAAP
Apr - Jun, 2024 4,897 346 237 229 19.0 7.1 Aug 14, 2024 J-GAAP
Jul - Sep, 2024 5,232 513 404 512 42.5 9.8 Nov 14, 2024 J-GAAP
Oct - Dec, 2024 6,193 1,196 1,069 969 80.4 19.3 Feb 14, 2025 J-GAAP
YoY +21.9% +90.4% +105.2% +88.9% +88.8%

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