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Imperial Hotel, Ltd., First Half Ordinary Profit Decreases by 71%, July-September Ordinary Profit Turns to Loss

Wed Oct 30, 2024 3:00 pm JST Earnings

9708 Imperial Hotel, Ltd. 【J-GAAP】

Earnings Report

Imperial Hotel, Ltd. <9708> [TSE-S] announced its financial results after the market closed on October 30th (15:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) significantly dropped by 70.9% from the same period last year to 277 million yen. The progress rate against the 1.85 billion yen full-year plan was 15.0%, also falling below the same period of the previous year of 28.9%.

Based on the first-half performance announced by the company and the unchanged full-year plan, our calculation indicates that the consolidated ordinary profit for the October to March period (second half) is expected to drop by 32.9% from the same period last year to 1.57 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit/loss turned to a loss of 416 million yen (compared to a profit of 147 million yen in the same period last year). The operating profit/loss margin drastically worsened from 0.2% in the same period last year to -4.9%.

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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 18,607 -1,012 -64 136 1.2 ー Oct 28, 2022 J-GAAP
Apr - Sep, 2023 24,238 767 951 927 7.8 28.9 Oct 27, 2023 J-GAAP
Apr - Sep, 2024 24,739 72 277 260 2.2 15.0 Oct 30, 2024 J-GAAP
YoY +2.1% -90.6% -70.9% -72.0% -71.9%

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 25,000 0 200 150 1.3 2 Jul 26, 2024 J-GAAP
Apr - Sep, 2024 Results 24,739 72 277 260 2.2 2 Oct 30, 2024 J-GAAP
Revision Rate -1.0% － +38.5% +73.3% +74.6%

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 29,097 2,072 2,345 2,450 20.7 4 May 10, 2024 J-GAAP
Oct - Mar, 2024 Guidance 28,261 1,428 1,573 1,540 13.0 4 Oct 30, 2024 J-GAAP
YoY -2.9% -31.1% -32.9% -37.1% -37.1%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 43,772 348 1,652 1,951 16.5 4 May 11, 2023 J-GAAP
Mar, 2024 53,335 2,839 3,296 3,377 28.5 6 May 10, 2024 J-GAAP
Mar, 2025 Guidance 53,000 1,500 1,850 1,800 15.2 6 Jul 26, 2024 J-GAAP
YoY -0.6% -47.2% -43.9% -46.7% -46.7%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 11,766 20 147 138 1.2 0.2 Oct 27, 2023 J-GAAP
Oct - Dec, 2023 15,528 2,257 2,351 2,340 19.7 14.5 Jan 30, 2024 J-GAAP
Jan - Mar, 2024 13,569 -185 -6 110 0.9 -1.4 May 10, 2024 J-GAAP
Apr - Jun, 2024 13,326 629 693 684 5.8 4.7 Jul 26, 2024 J-GAAP
Jul - Sep, 2024 11,413 -557 -416 -424 -3.6 -4.9 Oct 30, 2024 J-GAAP
YoY -3.0% － － － －

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