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WASHINGTON HOTEL CORPORATION, First Half Ordinary Profit Increases by 4%

Thu Nov 14, 2024 3:30 pm JST Earnings

4691 WASHINGTON HOTEL CORPORATION 【J-GAAP】

Earnings Report

WASHINGTON HOTEL CORPORATION <4691> [TSE-S] announced its financial results after the market closed on November 14th (15:30). The ordinary profit (non-consolidated) for the cumulative second quarter of the fiscal year ending March 2025 (April to September) increased by 4.4% from the same period last year, reaching 641 million yen. The progress rate against the 1.25 billion yen full-year plan was 50.9%, it was below the five-year average of 77.0%.

Based on the first-half performance announced by the company and the unchanged full-year plan, our calculation indicates that the ordinary profit for the October to March period (second half) is expected to expand by 91.3% from the same period last year, reaching 618 million yen.

In the most recent three-month period, from July to September (2Q), the ordinary profit increased by 82.8% from the same period last year, reaching 404 million yen. The operating profit margin improved from 7.4% in the same period last year to 9.8%.

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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 7,988 1,297 1,274 1,378 114.3 45.3 Nov 14, 2022 J-GAAP
Apr - Sep, 2023 8,915 808 614 590 49.0 65.5 Nov 14, 2023 J-GAAP
Apr - Sep, 2024 10,129 859 641 741 61.5 50.9 Nov 14, 2024 J-GAAP
YoY +13.6% +6.3% +4.4% +25.6% +25.4%

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 － 0 May 14, 2024 J-GAAP
Apr - Sep, 2024 Results 10,129 859 641 741 61.5 0 Nov 14, 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 9,379 682 323 245 20.3 10 May 14, 2024 J-GAAP
Oct - Mar, 2024 Guidance 10,712 866 618 442 36.8 15 Nov 14, 2024 J-GAAP
YoY +14.2% +27.0% +91.3% +80.4% +80.8%

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 20,841 1,725 1,259 1,183 98.4 15 May 14, 2024 J-GAAP
YoY +13.9% +15.8% +34.4% +41.7% +41.9%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 4,471 330 221 210 17.4 7.4 Nov 14, 2023 J-GAAP
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
YoY +17.0% +55.5% +82.8% +143.8% +143.5%

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