Nippon Ski Resort Development Co (6040) Q3 2024 earnings summary

Executive summary

• Revenue for the nine months ended April 30, 2024, rose 19.7% year-over-year to ¥7,314.9 million, with operating profit up 37.1% and net profit attributable to shareholders up 18.1%.

• Visitor numbers for the winter season increased 12.5% year-over-year, surpassing pre-pandemic levels, driven by strong inbound demand and successful family-oriented programs.

• The green season also saw record-high attendance, supported by new attractions and effective marketing.

Financial highlights

• Operating profit reached ¥1,987.9 million (up 37.1% year-over-year), and ordinary profit was ¥1,982.0 million (up 33.2%).

• Net profit attributable to shareholders was ¥1,382.2 million, up 18.1% year-over-year.

• EPS for the period was ¥91.04, compared to ¥77.17 in the prior year.

• Total assets increased to ¥11,577.5 million, up ¥3,966.9 million from the previous year-end, mainly due to higher cash and capital investments.

• Equity ratio declined to 59.9% from 73.9% due to increased borrowings for capital investment.

Outlook and guidance

• Full-year revenue is forecast at ¥7,800 million, with operating profit of ¥1,500 million and net profit of ¥1,100 million, unchanged from previous guidance.

• EPS for the full year is projected at ¥72.48.

• The company expects continued growth in inbound visitors and plans further investment in facilities and programs.