PARK24 Co (4666) Q2 2024 earnings summary

Executive summary

• Net sales for the first half reached ¥175.8 billion, up 12.0% year-over-year, with operating profit at ¥16.6 billion and net profit at ¥9.0 billion, surpassing plans and driven by strong domestic parking and mobility businesses.

• All business segments exceeded their respective plans, though international profit lagged due to inflation and underperformance in Australia.

• The company continues to focus on network expansion, digitalization, and service platform collaborations such as Hakone Car Share.

Financial highlights

• Operating profit was ¥16.6 billion, recurring profit ¥14.9 billion, and net profit ¥9.0 billion for H1 FY2024, with net income per share at ¥52.83.

• Shareholders' equity ratio improved to 25.6% at the end of H1, progressing toward a 30% target.

• Total assets reached ¥310,816 million, and net D/E ratio improved to 1.19.

Outlook and guidance

• Full-year forecast is maintained: net sales ¥357.0 billion (+8.1% YoY), operating profit ¥35.0 billion (+9.4%), and profit attributable to owners ¥20.0 billion (+14.0%).

• The midterm plan remains unchanged, with potential for upward revision if current trends continue and accident rates stabilize.