Hankyu Hanshin Holdings (9042) Q2 2025 earnings summary

Executive summary

• Revenue and profit rose in H1 FY2025, driven by recovery in overseas travel, urban transportation, and real estate sales, despite a decline in international freight and a reversal of prior year’s temporary travel segment gains.

• Operating revenue for the six months ended September 30, 2024, rose 10.1% year-over-year to ¥534.7 billion, with operating profit up 3.9% to ¥66.8 billion and profit attributable to owners of parent up 13.4% to ¥50.9 billion.

• Comprehensive income for the period was ¥61.8 billion, with ¥55.9 billion attributable to owners of parent.

Financial highlights

• H1 FY2025 operating revenue: ¥534.7 billion, up 10.1% year-over-year; operating profit: ¥66.8 billion, up 3.9%; profit attributable to owners: ¥50.9 billion, up 13.4%.

• Ordinary profit increased 5.9% year-over-year to ¥70.9 billion for the six-month period.

• Earnings per share for the period were ¥212.36, up from ¥186.47 a year earlier.

• Total assets at H1 FY2025: ¥3,129.2 billion; equity ratio: 32.6%.

• Interim dividend of ¥30 per share declared, with full-year forecast at ¥60 per share.

Outlook and guidance

• FY2025 operating revenue forecast: ¥1,100.0 billion (+10.3% YoY); business profit: ¥107.0 billion; profit attributable to owners: ¥70.0 billion.

• Operating profit is projected at ¥105.8 billion (up 0.1%), ordinary profit at ¥103 billion (down 5.9%), and earnings per share for the full year forecasted at ¥292.70.

• Revenue growth expected in urban transportation, real estate, entertainment, and travel; international transportation profit to decline amid competitive pressures.

• Capital expenditures for FY2025 forecast at ¥148.4 billion; depreciation and amortization at ¥65.8 billion.