Keihan Holdings Co.,ltd. · TSE:9045
Keihan Holdings Co.,ltd — H1 FY2024 Earnings Presentation
35 slides from Keihan Holdings Co.,ltd's earnings presentation, Nov 17, 2023
Slide 1: First Half of FY2024 Financial Results Presentation
First Half of FY2024 (Ended September 30, 2023) Financial Results Presentation November 17, 2023 Keihan Holdings Co., Ltd. (Tokyo Stock Exchange Prime Market / Securities Code: 9045 https://www.keihan-holdings.co.jp/)
Slide 2: Table of Contents
Table of Contents Summary of Consolidated Financial Results and Forecasts … 2 Progress of the Medium-term Management Plan … 6 “BIOSTYLE: Deepening and Challenge” Overview of the First Half of FY2024 Financial Results … 17 FY2024 Forecasts … 29 ♦ Notes on forecasts ♦ Descriptions of business fore
Slide 3: Summary of Consolidated Financial Results and Forecasts
Summary of Consolidated Financial Results and Forecasts 2
Slide 4: Summary of Consolidated Financial Results and Forecasts
Summary of Consolidated Financial Results and Forecasts (Millions of yen) 1H FY2024 1H FY2024 results 1H FY2024 results 1H FY2023 results Change forecasts (released Change in August) 10,723 3,367 Operating revenue 133,867 123,143 130,500 (8.7%) (2.6%) 6,997 2,172 Operating income 17,172 10,174 15,00
Slide 5: Situation of Main Segments (1)
Situation of Main Segments (1) Keihan Electric Railway (％) Passenger figures compared to normal year 0.0 -10.3 -13.6 -11.7 -10.0 -20.8 -17.9 -13.1 -20.0 -18.5 -26.7 -14.9 -15.8 -30.4 -18.1 -23.4 -30.0 -35.4 -40.0 -39.8 -50.0 FY2021 FY2022 FY2023 1H FY2024 FY2024 full-year results forecasts Commuter
Slide 6: Situation of Main Segments (2)
Situation of Main Segments (2) Hotel (％) Occupancy rates 100.0 81.6 82.0 80.0 69.8 74.2 75.0 60.0 41.6 59.3 40.0 24.6 20.0 30.8 23.6 0.0 FY2021 FY2022 FY2023 1H FY2024 FY2024 full-year results forecasts Hotel Keihan Keihan Hotels & Resorts (％) Sales compared to normal year 20.0 0.5 7.5 0.0 -20.0 -34
Slide 7: Progress of the Medium-term Management Plan "BIOSTYLE: Deepening and Challenge"
Progress of the Medium-term Management Plan “BIOSTYLE: Deepening and Challenge” ６
Slide 8: Overview of the Long-term Management Strategy
Overview of the Long-term Management Strategy Placing “BIOSTYLE (Keihan version of the SDGs),” which we have been working to establish as the Keihan Group’s new brand for the creation of a sustainable, recycling- oriented society, at the core of management and business activities, we will promote BI
Slide 9: Progress of the Main Strategies: Osaka's east-to-west axis
Progress of the Main Strategies Redevelop Keihan areas Regaining the glory of Osaka’s east-to-west axis Promoting urban development by taking advantage of regional characteristics along Osaka’s east-to-west axis, from Kyobashi, the gateway to Kyoto and close to Osaka Castle, through Nakanoshima, w
Slide 10: Progress of the Main Strategies: Community building from railway stations
Progress of the Main Strategies Redevelop Keihan areas Carrying out community building starting from railway stations Concentrating urban functions around railway stations and continuously implementing community building that takes advantage of regional characteristics, including history and cultu
Slide 11: Progress of the Main Strategies: Kyoto tourism
Progress of the Main Strategies Co-create experience value Establishing the Kyoto Tourism Golden Route through themed tourism Co-creating story-based tourist experiences with local communities under such themes as traditional industry, art, food, and history in Kyoto and surrounding areas Sake bre
Slide 12: Main Strategies (Schedule)
Main Strategies (Schedule) Period of the medium-term management plan 2023 2024 2025 2026 （年度） 2030 Nakanoshima 4-chome International Hub Completion● for Healthcare Innovation Project Own site development in Nakanoshima 4- ○ 解体開始 竣工● chome Under consideration and deliberation Joint reconstruction of
Slide 13: Progress in the Transportation Business
Progress in the Transportation Business Further efforts for safety and security FY2025 FY2024 Accelerating the installation of platform screen doors • Keihan Electric Railway plans to install platform screen doors Nakanoshima Moriguchishi Hirakatashi on eight tracks in four stations by the end of
Slide 14: Progress in the Real Estate Business
Progress in the Real Estate Business Main condominiums to be sold in FY2024 and thereafter Developing products and services that meet diversifying values and lifestyles Name and location No of housing • The “100-year Housing by Zero Home” houses have further evolved their units insulation, airtightn
Slide 15: Progress in the Retail Distribution Business
Progress in the Retail Distribution Business Evolving and developing commercial activities in the areas along the railway lines Renovation of KUZUHA MALL • Phased renovation has been under way since March 2023, and in April 2023, the food court on the first floor of the main building was redesigne
Slide 16: Progress in the Leisure & Service Business
Progress in the Leisure & Service Business Adding high value to existing hotels Renovation of Hotel Keihan Universal Tower • Renovation of 48 rooms, which was begun as the first phase of the guest room renovation plan, was completed in July 2023. Further renovation works are planned in the future.
Slide 17: Progress in Other Initiatives
Progress in Other Initiatives Initiatives at GOOD NATURE STATION Establishing own brands Making GOOD NATURE STATION more Opening of the first NEMOHAMO store in Tokyo attractive • A directly-managed store of the organic cosmetics brand A new salon opens at GOOD NATURE NEMOHAMO opened in Shin-Maru
Slide 18: Overview of the First Half of FY2024 Financial Results
Overview of the First Half of FY2024 Financial Results 17
Slide 19: Consolidated Statements of Income
Consolidated Statements of Income • Both revenue and profits increased due to a recovery in domestic and inbound tourism demand, especially in the transportation business and the leisure and service business. (Millions of yen) 1H FY2024 1H FY2023 1H FY2024 forecasts Change Main factors of change (re
Slide 20: Segment Information
Segment Information (Millions of yen) 1H FY2024 1H FY2023 results Change Change (%) results Operating revenue 43,588 39,448 4,139 10.5% Transportation Operating income 6,184 3,452 2,732 79.1% Operating revenue 54,855 56,951 -2,095 -3.7% Real estate Operating income 9,024 9,641 -616 -6.4% Operating r
Slide 21: Segment Information (Breakdown)
Segment Information (Breakdown) [Consolidated subsidiaries] 39 companies (No change year on year) [Equity-method affiliates] 2 companies (No change year on year) Keihan Electric Railway Co., Ltd., Keifuku Electric Railroad Co., Ltd., Keihan Bus Co., Ltd., and 12 other Transportation companies Keihan
Slide 22: Segment Information (Quarterly Changes)
Segment Information (Quarterly Changes) (Millions of yen) Changes in operating revenue by segment 40,000 30,000 28,578 26,276 21,662 21,925 20,000 12,683 12,750 10,000 8,121 8,699 0 1Q 2Q 1Q 2Q 1Q 2Q 1Q 2Q Transportation Real estate Retail distribution Leisure and service (Millions of yen) Changes i
Slide 23: Segment Information (Transportation)
Segment Information (Transportation) (Millions of yen) 1H FY2024 results 1H FY2023 results Change Change (%) Operating revenue 43,588 39,448 4,139 10.5% Railway 35,489 32,024 3,464 10.8% Bus 11,625 11,111 514 4.6% Elimination -3,526 -3,687 160 － Operating income 6,184 3,452 2,732 79.1% Railway 5,135
Slide 24: Operating Results for Transportation: Keihan Electric Railway
Operating Results for Transportation: Keihan Electric Railway 1H FY2024 results 1H FY2023 results Change Change (%) millions of yen millions of yen millions of yen ％ Passenger transportation revenue 23,641 20,960 2,680 12.8 Non-commuter passes 15,790 13,561 2,228 16.4 Commuter passes 7,850 7,398 451
Slide 25: Segment Information (Real Estate)
Segment Information (Real Estate) (Millions of yen) 1H FY2024 results 1H FY2023 results Change Change (%) Operating revenue 54,855 56,951 -2,095 -3.7% Real estate 49,286 48,087 1,199 2.5% Real estate sales 33,844 32,114 1,730 5.4% Real estate leasing service 13,368 13,773 -404 -2.9% Other businesses
Slide 26: Segment Information (Retail Distribution)
Segment Information (Retail Distribution) (Millions of yen) 1H FY2024 results 1H FY2023 results Change Change (%) Operating revenue 25,433 24,446 986 4.0% Department store 9,706 9,300 406 4.4% Store 7,622 7,388 233 3.2% Shopping mall management 6,483 6,281 201 3.2% Other businesses 2,276 2,139 137 6
Slide 27: Segment Information (Leisure and Service)
Segment Information (Leisure and Service) (Millions of yen) 1H FY2024 results 1H FY2023 results Change Change (%) Operating revenue 16,821 9,509 7,312 76.9% Hotel 14,955 8,068 6,886 85.4% Leisure 1,879 1,454 424 29.2% Elimination -13 -13 0 － Operating income 1,549 -2,734 4,283 － Hotel 1,334 -2,747 4
Slide 28: Consolidated Balance Sheets
Consolidated Balance Sheets (Millions of yen) 1H FY2024 1H FY2023 Change Main factors of change results results Notes and accounts receivable-trade and Current assets 213,892 217,002 -3,109 contract assets: -11,482 Land and buildings for sale: +6,494 Investment securities: +4,223 Non-current assets
Slide 29: Consolidated Statements of Cash Flows
Consolidated Statements of Cash Flows (Millions of yen) 1H FY2024 1H FY2023 Change Main factors of change results results Decrease in inventories: +8,983 Cash flows from operating 16,990 903 16,087 Decrease in trade receivables: +6,683 activities Decrease in other current liabilities: -7,815 Cash fl
Slide 30: FY2024 Forecasts
F KEfHAN FY2024 Forecasts 29
Slide 31: Consolidated Statement of Income (Performance Forecasts)
Consolidated Statement of Income (Performance Forecasts) • Both revenue and profits are expected to increase due to increased revenue in the transportation business and the leisure and service business, reflecting the ongoing recovery in domestic and inbound tourism demand, as well as steady condomi
Slide 32: Segment Information (Performance Forecasts)
Segment Information (Performance Forecasts) (Major factors affecting performance: after the previous forecasts in May) • Transportation: Increases in both revenue and profits due to factors such as increased revenue reflecting a recovery in passenger demand and decreased power costs. • Real estate:
Slide 33: Operating Results for Transportation (Performance Forecasts)
Operating Results for Transportation (Performance Forecasts): Keihan Electric Railway FY2024 FY2024 forecasts forecasts Change Change (%) FY2023 results Change Change (%) (released in May) (latest) millions of yen millions of yen millions of yen ％ millions of yen millions of yen ％ Passenger transpor
Slide 34: Capital Expenditure and EBITDA by Segment (Performance Forecasts)
Capital Expenditure and EBITDA by Segment (Performance Forecasts) (Millions of yen) Capital expenditure E B I T D A FY2024 FY2024 FY2024 FY2024 forecasts forecasts Change FY2023 results Change forecasts forecasts Change FY2023 results Change (latest) (released in May) (latest) (released in May) Tota
Slide 35: Reference (Management Indicators)
Reference (Management Indicators) (Millions of yen) FY2024 forecasts FY2026 Medium-term FY2022 results FY2023 results (latest) management plan Operating income 13,408 20,491 31,500 34,000 Profit attributable to owners of parent 9,589 17,621 24,500 23,000 ＥＢＩＴＤＡ 34,331 40,520 51,700 ・・・ 58,000 Net in