Kintetsu Group Holdings Co., Ltd. · TSE:9041
Kintetsu — FY2024 Earnings Presentation
48 slides from Kintetsu's earnings presentation, May 21, 2025
Slide 1: Results Briefing for FYE March 2025
Results Briefing for FYE March 2025 May 21, 2025 Kintetsu Group Holdings Co., Ltd. (Tokyo Stock Exchange Prime Market, Securities Code: 9041) https://www.kintetsu-g-hd.co.jp/lang/english/ Copyright Kintetsu Group Holdings Co.,Ltd. All right reserved. 0
Slide 2: Contents
Contents 1 Financial Highlights for FYE March 2025 p. 2–17 2 Earnings Forecast for FYE March 2026 p. 18–28 3 Initiatives in FY2025 p. 29–39 1
Slide 3: Financial Highlights for FYE March 2025
Financial Highlights for FYE March 2025 2
Slide 4: Consolidated statements of income
Consolidated statements of income (Millions of yen, %) Percentage FYE 3/2025 forecast FYE 3/2024 FYE 3/2025 Change change Factors of change (announced Nov. 14, 2024) Change Operating revenue 1,629,529 1,741,787 112,257 6.9 See “Results by segment” 1,790,000 （48,212） Operating profit 87,430 84,399 （3
Slide 5: Key financial results: Operating revenue
Key financial results: Operating revenue Revenue increased for the Group as a whole due to factors such as increased revenue in the Transportation Business, Merchandise Sales Business, and Hotel and Leisure Business as a result of recovery in passenger and consumer demand following the COVID-19 pand
Slide 6: Key financial results: Operating profit (loss)
Key financial results: Operating profit (loss) Consolidated profit declined due to factors such as increased condominium construction costs and other expenses in the Real Estate Business and decreased profit margins in the International Logistics Business caused by a sharp rise in freight costs (Mil
Slide 7: Results by segment
Results by segment (Millions of yen, %) FYE 3/2024 FYE 3/2025 Change Percentage change Operating revenue 211,897 223,225 11,327 5.3 Transportation Operating profit (loss) 32,295 34,664 2,369 7.3 Operating revenue 157,518 165,359 7,841 5.0 Real Estate Operating profit (loss) 15,114 13,864 （1,250） （8.
Slide 8: Transportation
Transportation (Millions of yen, %) FYE 3/2024 FYE 3/2025 Change Percentage change Operating revenue 211,897 223,225 11,327 5.3 Railway 153,027 160,514 7,486 4.9 Bus 32,525 34,745 2,219 6.8 Taxi 9,808 10,046 237 2.4 Maintenance of railway facilities 25,775 25,891 115 0.4 Other transportation-related
Slide 9: Kintetsu Railway Co., Ltd. Non-consolidated results
Kintetsu Railway Co., Ltd. Non-consolidated results Percentage FYE 3/2024 FYE 3/2025 Change change(％) <Earnings> Operating revenue (millions of yen) 155,947 162,291 6,344 4.1 Railways 153,027 160,514 7,486 4.9 Passenger revenue 146,332 153,527 7,195 4.9 Revenue from non-commuter passengers 98,212 10
Slide 10: Real Estate
Real Estate (Millions of yen, %) Percentage FYE 3/2024 FYE 3/2025 Change change Operating revenue 157,518 165,359 7,841 5.0 Real estate sales 78,191 83,066 4,874 6.2 Real estate leasing 39,112 40,059 947 2.4 Real estate management 44,139 46,317 2,178 4.9 Adjustments （3,925） （4,084） （159） Operating p
Slide 11: International Logistics
International Logistics (Millions of yen, %) FYE 3/2024 FYE 3/2025 Change Percentage change Operating revenue 733,823 796,941 63,117 8.6 Japan, Taiwan and South Korea 196,533 217,162 20,629 10.5 Americas 93,157 95,635 2,478 2.7 Europe, Middle East and Africa 54,332 53,291 （1,041） （1.9） East Asia 99,
Slide 12: International Logistics: Breakdown of results
International Logistics: Breakdown of results FYE 3/2024 FYE 3/2025 Change Percentage change(％) <Earnings> Operating revenue (millions of yen) 733,823 796,941 63,117 8.6 Air freight 252,271 276,364 24,093 9.6 (Main breakdown) Sea freight 203,424 246,545 43,121 21.2 Logistics 231,750 224,892 （6,857）
Slide 13: Merchandise Sales
Merchandise Sales (Millions of yen, %) FYE 3/2024 FYE 3/2025 Change Percentage change Operating revenue 212,070 215,359 3,289 1.6 Department stores 113,651 115,673 2,022 1.8 Stores and restaurants 98,419 99,686 1,266 1.3 Adjustments － － － Operating profit (loss) 5,776 7,022 1,245 21.6 (Main breakdow
Slide 14: Hotels and Leisure
Hotels and Leisure (Millions of yen, %) FYE 3/2024 FYE 3/2025 Change Percentage change Operating revenue 317,461 344,905 27,444 8.6 Hotels 41,061 45,917 4,856 11.8 Travel agency 254,297 273,935 19,637 7.7 Cinema 3,570 3,571 1 0.0 Aquarium 9,946 10,518 572 5.8 Travel facilities 8,586 11,208 2,622 30.
Slide 15: Consolidated balance sheets
Consolidated balance sheets (Millions of yen) As of March 31, 2024 As of March 31, 2025 Change Factors of change Current assets 720,811 761,176 40,365 Land and buildings for sale: +30,610 Non-current assets 1,731,615 1,744,384 12,769 Of which, goodwill 59,264 56,017 （3,247） Total assets 2,454,316 2,
Slide 16: Consolidated statements of cash flows
Consolidated statements of cash flows (Millions of yen, %) FYE 3/2024 FYE 3/2025 Change Net cash provided by (used in) operating activities 150,512 89,728 （60,783） Of which, profit before income taxes 77,076 82,406 5,329 Of which, decrease (increase) in 50,729 （7,057） （57,786） accounts receivable -
Slide 17: Capital investment and net interest-bearing debt
Capital investment and net interest-bearing debt (Millions of yen, %) FYE 3/2024 FYE 3/2025 Change Factors of change Capital investment 60,785 83,072 22,287 Transportation 31,525 36,360 4,835 Construction of new general (Of which, Railway) (29,023) (32,861) (3,837) rolling stock for replacement, etc
Slide 18: Depreciation and EBITDA
Depreciation and EBITDA (Millions of yen, %) FYE 3/2024 FYE 3/2025 Change Depreciation 26,374 28,198 1,824 Transportation EBITDA 58,669 62,862 4,193 Depreciation 9,606 9,942 336 Real Estate EBITDA 24,721 23,807 （914） Depreciation 12,594 13,678 1,083 International Logistics EBITDA 33,434 29,893 （3,54
Slide 19: Earnings Forecast for FYE March 2026
Earnings Forecast for FYE March 2026 18
Slide 20: Assumptions used in forecast
Assumptions used in forecast • In FY2025, demand is expected to grow in B2C business domains such as railway, department stores, hotels, and travel agency due to the Osaka-Kansai Expo and the expected expansion of inbound travel among other factors. • In international logistics, although the outlook
Slide 21: Forecast of consolidated financial results
Forecast of consolidated financial results (Millions of yen, %) FYE 3/2025 FYE 3/2026 Percentage Change full-year results full-year forecast change Operating revenue 1,741,787 1,880,000 138,212 7.9 Operating profit 84,399 88,000 3,600 4.3 Ordinary profit 81,538 78,000 （3,538） （4.3） Profit attributab
Slide 22: Results by segment
Results by segment (Millions of yen, %) FYE 3/2025 FYE 3/2026 Percentage Change full-year results full-year forecast change Operating revenue 223,225 225,000 1,774 0.8 Transportation Operating profit (loss) 34,664 31,500 （3,164） （9.1） Operating revenue 165,359 184,000 18,640 11.3 Real Estate Operati
Slide 23: Main factors of change
Main factors of change ≪Transportation≫ • Operating revenue is expected to increase in the railway business due to passenger demand associated with the Osaka-Kansai Expo, as well as the effect of increased Meihan Limited Express service due to a timetable change in February 2025 and an increase in i
Slide 24: Kintetsu Railway Co., Ltd. Non-consolidated results
Kintetsu Railway Co., Ltd. Non-consolidated results FYE 3/2025 FYE 3/2026 Percentage Change full-year results full-year forecast change (%) <Earnings> Operating revenue (millions of yen) 162,291 164,682 2,390 1.5 Railways 160,514 162,682 2,167 1.4 Revenues from railway operations 153,527 155,494 1,9
Slide 25: International Logistics: Breakdown of results
International Logistics: Breakdown of results FYE 3/2025 FYE 3/2026 Percentage Change full-year results full-year forecast change (%) <Earnings> Operating revenue (millions of yen) 796,941 886,000 89,058 11.2 Operating gross profit (millions of yen) 120,080 135,000 14,919 12.4 Operating profit (loss
Slide 26: Capital investment and net interest-bearing debt
Capital investment and net interest-bearing debt (Millions of yen, times) FYE 3/2025 FYE 3/2026 Change full-year results full-year forecast Capital investment 83,072 179,000 95,927 Transportation 36,360 39,000 2,639 (Of which, Railway) (32,861) (34,000) (1,138) Real Estate 21,614 97,000 75,385 Inter
Slide 27: Depreciation and EBITDA
Depreciation and EBITDA (Millions of yen) FYE 3/2025 FYE 3/2026 Change full-year results full-year forecast Depreciation 28,198 30,500 2,301 Transportation EBITDA 62,862 62,000 （862） Depreciation 9,942 10,500 557 Real Estate EBITDA 23,807 24,100 292 International Depreciation 13,678 17,000 3,321 Log
Slide 28: [Reference] Consolidated results forecast (first half)
[Reference] Consolidated results forecast (first half) (Millions of yen, %) FYE 3/2025 FYE 3/2026 Percentage Change first-half results first-half forecast change Operating revenue 853,363 906,000 52,636 6.2 Operating profit 39,504 41,000 1,495 3.8 Ordinary profit 37,867 37,000 （867） （2.3） Profit att
Slide 29: [Reference] Results by segment (first half)
[Reference] Results by segment (first half) (Millions of yen, %) FYE 3/2025 FYE 3/2026 Percentage first-half results first-half forecast Change change Operating revenue 108,174 110,000 1,825 1.7 Transportation Operating profit (loss) 15,170 14,700 （470） （3.1） Operating revenue 74,301 76,000 1,698 2.
Slide 30: Initiatives in FY2025
Initiatives in FY2025 KINTETSU GROUP HOLDINGS 29
Slide 31: Executive Summary
Executive Summary Summary of Medium-Term Management issues on which Medium-Term Management Plan 2028 Management Plan 2024 to sustain focus • Achieved substantial progress on the six • Further deepening the six priority Basic policy priority measures measures of Medium-Term Management Plan 2024 “Buil
Slide 32: Management Indicators
Management Indicators During Kintetsu Group Medium-Term Management Plan 2024 During Kintetsu Group Medium-Term Management Plan 2028 FY2021 FY2022 FY2023 FY2024 FY2025 Forecast FY2028 Target Results Results Results Results (Target) 86.0 billion yen 100.0 billion yen Operating profit 3.8 billion yen 6
Slide 33: FY2025 Capital Investment and Shareholder Return
FY2025 Capital Investment and Shareholder Return Capital Investment Shareholder Return Renewal Investments/Growth Investments Implement shareholder returns commensurate with medium- to long-term growth through the introduction of a progressive Continuing from the previous fiscal year, we plan to mak
Slide 34: Current Circumstances of Main Companies (Railways/International Logistics)
Current Circumstances of Main Companies (Railways/International Logistics) Commuter/non-commuter income and ridership by year Air & sea export freight volume International Railways 鉄道 Logistics Per-business operating revenue by year Commuter income (billions of yen) Non-commuter income (billions of
Slide 35: Current Circumstances of Main Companies (Department Stores/Hotels/Travel)
Current Circumstances of Main Companies (Department Stores/Hotels/Travel) Sales for domestic and Sales ADR and occupancy Department international travel Stores (compared to last year) Hotels for all hotels Travel (compared to last year) February March April February March April February (last year)
Slide 36: Inbound Tourism
Inbound Tourism Numbers in parentheses are YoY comparisons As the number of foreign visitors to Japan grows significantly, aim to attract more inbound visitors by strengthening the appeal of the abundant tourism resources along the Kintetsu railway network and promoting the Group's various services
Slide 37: Effects of Expo 2025 and measures to increase income
Effects of Expo 2025 and measures to increase income Effects of Expo 2025: Operating Revenue 12.5 billion yen Gross profit 5.0 billion yen Railways Kintetsu Railway Uehommachi Bus Terminal • Releasing Kintetsu Rail Pass with special Expo designs Commemorative ticket with Conducted redevelopment to i
Slide 38: Major Business Initiatives 1/3 (Key Efforts for FY2025)
Major Business Initiatives 1/3 (Key Efforts for FY2025) Long- We create an operational area full of wonders, as a company loved and Long- chosen by people. We will go beyond the confines of real estate to be a Term Providing safe, comfortable services, while working with the bright Term company that
Slide 39: Major Business Initiatives 2/3 (Key Efforts for FY2025)
Major Business Initiatives 2/3 (Key Efforts for FY2025) Long- Global Top 10 Solution Partner Long- — A Global Brand Born in Japan Term Term Become a platform provider that enriches life International Merchandise volume of more than 1.00 million metric tons of Department Vision air freight and more t
Slide 40: Major Business Initiatives 3/3 (Key Efforts for FY2025)
Major Business Initiatives 3/3 (Key Efforts for FY2025) Long- Long- Evolve from a travel agency to become a general One of Japan’s finest hotel chains with a truly Term Term service trading company that creates new value for international reach Hotels Vision Travel Vision local communities Major ini
Slide 41: appendix
appendix In KINTETSU GROUP HOLDINGS 40
Slide 42: Major Business Initiatives 1/6: Railways
4 Kintetsu Group Medium-Term Management Plan 2028 Role in the Group 9) Major Business Initiatives 1/6 Railways Sources of growth (increase in regional value) Long-Term We create an operational area full of wonders, as a company loved and chosen by people. Vision Providing safe, comfortable services,
Slide 43: Major Business Initiatives 2/6: Real Estate
4 Kintetsu Group Medium-Term Management Plan 2028 Role in the Group 9) Major Business Initiatives 2/6 Real Estate Growth drivers Long-Term Vision We will go beyond the confines of real estate to be a company that can propose new lifestyles. Key 1. Advance development projects for railway lines and i
Slide 44: Major Business Initiatives 3/6: International Logistics
4 Kintetsu Group Medium-Term Management Plan 2028 Role in the Group International 9) Major Business Initiatives 3/6 Logistics Growth drivers Global Top 10 Solution Partner — A Global Brand Born in Japan • Improve quality, competitiveness and its ability to address issues, establishing the KWE Long-T
Slide 45: Major Business Initiatives 4/6: Department Stores
4 Kintetsu Group Medium-Term Management Plan 2028 Role in the Group Department 9) Major Business Initiatives 4/6 Stores Sources of growth (increase in regional value) Long-Term Vision Become a platform provider that enriches life Key Aim to be reborn as a business company (= department store) that c
Slide 46: Major Business Initiatives 5/6: Hotels
4 Kintetsu Group Medium-Term Management Plan 2028 Role in the Group 9) Major Business Initiatives 5/6 Hotels Bridges to growth Long-Term Vision One of Japan’s finest hotel chains with a truly international reach. Key １．Provide world-class service Medium- ２．Human resource development, and strengtheni
Slide 47: Major Business Initiatives 6/6: Travel
4 Kintetsu Group Medium-Term Management Plan 2028 Role in the Group 9) Major Business Initiatives 6/6 Travel Bridges to growth Long-Term Vision Evolve from a travel agency to become a general service trading company that creates new local value Key 1. Turn the community co-creation & inbound busines
Slide 48: Contact: Corporate Planning Office
Contact: Corporate Planning Office, Corporate Strategy and Planning Division TEL : 06-6775-3478 Mail : ir-info@rw.kintetsu.co.jp This document contains statements regarding future performance. Such statements are not guarantees of future performance and are subject to risks and uncertainties. Please
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