Keihan Holdings Co.,Ltd. · TSE:9045
Keihan Holdings Co.,Ltd — Keihan Electric Railway — FY2009 Earnings Presentation
34 slides from Keihan Holdings Co.,Ltd's earnings presentation, May 19, 2009
Slide 1: FY2009 ended March 31, 2009 Financial Results Presentation
FY2009 ended March 31, 2009 Financial Results Presentation May 19, 2009 Keihan Electric Railway Co., Ltd. (Tokyo Stock Exchange 1st/Osaka Securities Exchange 1st 9045 http://www.keihan.co.jp/) [Notes on forecasts] Descriptions of business forecasts and future prospects are based on current informati
Slide 2: Contents
Contents Overview of FY2009 Financial Results 2 Consolidated Statements of Income 3 Consolidated Balance Sheets 4 Movement of FY2009 5 Trend of Land for Sale (Non-consolidated) 7 Consolidated Statements of Cash Flows 8 Trend of Consolidated Interest-bearing debt / EBITDA multiple 9 Non-consolidated
Slide 3: Overview of FY2009 Financial Results
Overview of FY2009 Financial Results 2
Slide 4: Consolidated Statements of Income
Consolidated Statements of Income (Millions of yen) Change FY2009 FY2008 Change (%) Operating revenue 260,766 261,952 (1,185) (0.5) Operating income 14,687 17,438 (2,750) (15.8) Ordinary income 10,967 13,467 (2,499) (18.6) Net income 7,401 8,336 (934) (11.2) ROA (%) 1.3 1.5 (0.2) ROE (%) 5.7 6.2 (0.
Slide 5: Consolidated Balance Sheets
Consolidated Balance Sheets (Millions of yen) Change FY2009 FY2008 Change (%) Total assets 572,098 571,303 794 0.1 Liabilities 440,769 437,016 3,753 0.9 Net assets 131,329 134,287 (2,958) (2.2) Liabilities and net assets 572,098 571,303 794 0.1 Main factor of changes in total assets :Increase in lan
Slide 6: Movement of FY2009 (1)
Movement of FY2009 (1) Decrease in revenue and earnings Operating revenue --- -1,185 million yen The total revenue is decreased due to opening of Hotel Keihan Universal Tower, full contribution of Kyoto Tower consolidated revenue at mid-term end of previous fiscal year, increase in the income from f
Slide 7: Movement of FY2009 (2)
Movement of FY2009 (2) Measures for improving financial transparency Allowance for loss in liquidation of related company --- Extraordinary losses 192 million yen Application of “Accounting Standards for Lease Transaction” Application of “Accounting Standards for Measurement of Inventories” Increase
Slide 8: Trend of Land for Sale (Non-consolidated)
Trend of Land for Sale (Non-consolidated) (Millions of yen) (Thousands of m ) 2 120,000 Book Value (Millions of yen) Area (T housands of m 2 ) 3,000 90,000 2,000 60,000 1,000 30,000 0 0 00.3 01.3 02.3 03.3 04.3 05.3 06.3 07.3 08.3 09.3 00.3 01.3 02.3 03.3 04.3 05.3 06.3 07.3 08.3 09.3 Book Value (Mi
Slide 9: Consolidated Statements of Cash Flows
Consolidated Statements of Cash Flows (Millions of yen) Change FY2009 FY2008 Change (%) Operating cash flows 24,167 10,645 13,521 127.0 Investing cash flows (31,926) (15,538) (16,387) (105.5) Financing cash flows 17,342 (2,287) 19,630 - Cash and cash equivalents at end of fiscal year 29,018 19,434 9
Slide 10: Trend of Consolidated Interest-bearing debt / EBITDA Multiple
Trend of Consolidated Interest-bearing debt / EBITDA Multiple (Billions of yen) (Times) 350 Interest-bearing debt 11 330 Interest-bearing debt/EBITDA multiple 10 310 9 290 8 270 250 7 00.3 01.3 02.3 03.3 04.3 05.3 06.3 07.3 08.3 09.3 00.3 01.3 02.3 03.3 04.3 05.3 06.3 07.3 08.3 09.3 Interest-bearing
Slide 11: Non-consolidated Statements of Income
Non-consolidated Statements of Income (Millions of yen) FY2009 FY2008 Change Change (%) Operating revenue 76,926 73,501 3,425 4.7 Railway operation 54,886 54,569 316 0.6 Subsidiary business 22,040 18,932 3,108 16.4 Real estate sales 7,826 5,092 2,733 53.7 Real estate leasing service 11,925 11,515 40
Slide 12: Overview of FY2009 Business Results by Segment
Overview of FY2009 Business Results by Segment 11
Slide 13: Consolidation-targeted Companies
Consolidation-targeted Companies Scope of Consolidated Accounting 76 companies [Our company, 71 subsidiary companies (including 45 consolidated subsidiaries), and 4 affiliates (including 2 equity method affiliates)] (1) Transportation (25 companies) (4) Leisure and service (28 companies) Busin ess c
Slide 14: Segment Balance (1)
Segment Balance (1) <Operating revenue> (Millions of yen) Others Leisure and service 10,822 4.2% 36,226 13.9% 84,834 Transportation 32.5% 103,486 39.7% 25,396 9.7% Retail Real estate * Operating revenue for external customers 13
Slide 15: Segment Balance (2)
Segment Balance (2) <Operating income> (Millions of yen) 10,000 8,000 7,346 6,751 6,000 4,000 2,000 947 -58 -178 0 T ransportation Real estate Retail Leisure and service Others -2,000 14
Slide 16: Changes in Segment Balance (1)
Changes in Segment Balance (1) <Operating revenue> (Millions of yen) 120,000 100,000 Transportation Real estate 80,000 Retail Leisure and service Others 60,000 40,000 20,000 0 00.3 01.3 02.3 03.3 04.3 05.3 06.3 07.3 08.3 09.3 10.3 Forecast 15
Slide 17: Changes in Segment Balance (2)
Changes in Segment Balance (2) <Operating income> (Millions of yen) 12,000 10,000 Transportation Real estate 8,000 Retail Leisure and service 6,000 Others 4,000 2,000 0 -2,000 00.3 01.3 02.3 03.3 04.3 05.3 06.3 07.3 08.3 09.3 10.3 Forecast 16
Slide 18: Segment Movement for FY2009
Segment Movement for FY2009 [Transportation] <Revenue decrease of 790 million yen, and income decrease of 2,034 million yen> Railway operation --- Increase in the number of passengers, partial withdrawal of incidental business, and increase in the cost of opening Nakanoshima line Taxi ---Decrease in
Slide 19: Results of Transportation (1)
Results of Transportation (1) <Business results> (Millions of yen) FY2009 FY2008 Change Change (%) Operating revenue 86,665 87,455 (790) (0.9) Railway operation 57,523 57,614 (90) (0.2) Station service 5,391 5,293 98 1.9 management Bus 24,897 25,208 (311) (1.2) Taxi 4,989 5,484 (495) (9.0) Eliminati
Slide 20: Results of Transportation (2)
Results of Transportation (2) <Trend of operating revenue> (Millions of yen) 60,000 Railway operation 40,000 Station service management Bus Taxi 20,000 0 00.3 01.3 02.3 03.3 04.3 05.3 06.3 07.3 08.3 08.3 09.3 19
Slide 21: Results of Transportation (3)
Results of Transportation (3) <Operating results for transportation (Keihan Electric Railway)> FY2009 FY2008 Change Change (%) Number of passengers (Thousands of people) 289,893 289,817 76 0.0 Commuter passes (ditto) 145,709 147,243 (1,533) (1.0) Non-commuter passes (ditto) 144,183 142,573 1,609 1.1
Slide 22: Results of Real Estate (1)
Results of Real Estate (1) <Business results> (Millions of yen) FY2009 FY2008 Change Change (%) Operating revenue 33,416 32,671 744 2.3 Real estate sales 18,731 18,323 407 2.2 Real estate leasing service 15,747 15,441 306 2.0 Elimination (1,062) (1,092) 30 - Operating income 7,346 7,261 84 1.2 Depre
Slide 23: Results of Real Estate (2)
Results of Real Estate (2) <Trend of operating revenue> (Millions of yen) 30,000 20,000 Real estate sales Real estate leasing service 10,000 0 00.3 01.3 02.3 03.3 04.3 05.3 06.3 07.3 08.3 09.3 22
Slide 24: Results of Retail (1)
Results of Retail (1) <Business results> (Millions of yen) FY2009 FY2008 Change Change (%) Operating revenue 103,921 113,454 (9,533) (8.4) Department store 53,393 56,212 (2,818) (5.0) Store 30,207 29,181 1,026 3.5 Shopping mall management 10,522 10,401 120 1.2 Construction material sales 12,620 21,3
Slide 25: Results of Retail (2)
Results of Retail (2) <Trend of operating revenue> (Millions of yen) 60,000 Department store 40,000 Store Shopping mall management Construction material sales 20,000 0 00.3 01.3 02.3 03.3 04.3 05.3 06.3 07.3 08.3 09.3 24
Slide 26: Results of Leisure and Service (1)
Results of Leisure and Service (1) <Business results> (Millions of yen) FY2009 FY2008 Change Change (%) Operating revenue 37,673 32,971 4,701 14.3 Hotel 17,575 12,881 4,693 36.4 Restaurant 7,878 8,153 (274) (3.4) Sightseeing ship 2,853 2,760 93 3.4 Amusement park 2,288 2,323 (35) (1.5) Automobile ma
Slide 27: Results of Leisure and Service (2)
Results of Leisure and Service (2) <Trend of operating revenue> (Millions of yen) 18,000 16,000 14,000 Hotel Restaurant 12,000 Sightseeing ship 10,000 Amusement park Automobile maintenance service 8,000 Advertising 6,000 Tourist 4,000 Welfare for elderly and nursing care Car road 2,000 Golf course 0
Slide 28: Results of Others (1)
Results of Others (1) <Business results> (Millions of yen) FY2009 FY2008 Change Change (%) Operating revenue 15,017 11,567 3,449 29.8 Utility work 10,237 6,654 3,583 53.8 Landscaping 2,260 1,969 291 14.8 Survey and design 3,220 3,180 40 1.3 Specific-purpose financial 249 205 44 21.5 service Credit c
Slide 29: Results of Others (2)
Results of Others (2) <Trend of operating revenue> (Millions of yen) 12,000 10,000 Utility work 8,000 Landscaping Survey and design 6,000 Specific-purpose financial service Credit card 4,000 2,000 0 00.3 01.3 02.3 03.3 04.3 05.3 06.3 07.3 08.3 09.3 28
Slide 30: Business Results Forecast of FY2010
Business Results Forecast of FY2010 29
Slide 31: Forecast of Consolidated Business Results (1)
FY2010 Forecast of Consolidated Business Results (1) (Millions of yen) FY2010 FY2009 Change Change (%) Forecast Results Operating revenue 260,000 260,766 (766) (0.3) Operating income 14,500 14,687 (187) (1.3) Ordinary income 8,900 10,967 (2,067) (18.9) Net income 5,300 7,401 (2,101) (28.4) EBITDA 32
Slide 32: Forecast of Consolidated Business Results (2) By segment
FY2010 Forecast of Consolidated Business Results (2) <By segment> (Millions of yen) FY2010 FY2009 Change Change (%) Forecast Results Operating revenue 260,000 260,766 (766) (0.3) Transportation 86,200 86,665 (465) (0.5) Real estate 37,000 33,416 3,583 10.7 Retail 102,500 103,921 (1,421) (1.4) Leisur
Slide 33: Forecast of Non-consolidated Business Results (1)
FY2010 Forecast of Non-consolidated Business Results (1) (Millions of yen) FY2010 FY2009 Change Change(%) Forecast Results Operating revenue 76,000 76,926 (926) (1.2) Railway operation 54,980 54,886 93 0.2 Subsidiay business 21,020 22,040 (1,020) (4.6) Real estate sales 5,310 7,826 (2,516) (32.2) Re
Slide 34: Forecast of Non-consolidated Business Results (2)
FY2010 Forecast of Non-consolidated Business Results (2) Operating results for transportation (Keihan Electric Railway) FY2010 FY2009 Change Change (%) Forecast Results Number of passengers (Thousands of people) 290,732 289,893 838 0.3 Commuter passes (ditto) 144,595 145,709 (1,114) (0.8) Non-commut
Keihan Electric Railway — FY2009 Earnings Presentation on 6ix