keio (9008) Q1 2025 earnings summary

Executive summary

• All segments posted year-over-year revenue growth in Q1, driven by increased real estate sales and higher railway passenger numbers, aided by fare revision.

• Operating revenue reached ¥104.7 billion, operating profit ¥16.8 billion, and net income attributable to shareholders ¥14.5 billion.

• Results exceeded internal plans, with operating revenue up ¥5.2 billion and operating profit up ¥4.1 billion versus plan.

• Comprehensive income for the quarter was ¥15.8 billion, down 5.4% year-over-year.

Financial highlights

• Operating revenue rose 18.0% year-over-year to ¥104.7 billion; operating profit increased 41.1% to ¥16.8 billion.

• Net income attributable to shareholders grew 64.8% year-over-year to ¥14.5 billion.

• EPS for Q1 was ¥119.14, up from ¥72.28 in the prior year.

• EBITDA increased 31.2% year-over-year to ¥24.7 billion.

• Operating margin improved as operating profit increased to ¥16.9 billion from ¥12.0 billion year-over-year.

Outlook and guidance

• Full-year guidance maintained: operating revenue ¥454.0 billion, operating profit ¥46.0 billion, net income attributable to shareholders ¥34.2 billion.

• Annual dividend forecast is ¥700 per share.

• No changes to previously announced earnings or dividend guidance.

• Company will monitor trends despite Q1 outperformance.