PARK24 Co (4666) Q1 2025 earnings summary

Executive summary

• Net sales reached 97.2 billion yen in Q1 FY2025, surpassing the plan by 1.9 billion yen, with steady service operations across all business segments.

• Launched FY2027 Medium-Term Business Plan aiming to evolve into a Mobility Service Platform Operator, focusing on network expansion and service evolution.

• Recurring profit was 8.3 billion yen, exceeding the plan by 0.6 billion yen, reflecting solid segment performance and progress in investments for sustainable growth.

• Profit attributable to owners of parent was 5.1 billion yen, slightly above plan and up 1.8% year-over-year.

• Achieved steady progress across all business segments in the first three months, with notable growth in Parking Business Japan, Mobility Business, and Parking Business International.

Financial highlights

• Net sales increased 12.1% year-over-year to 97.2 billion yen.

• Operating profit increased 8.1% year-over-year to 9.3 billion yen; recurring profit up 5.2% to 8.4 billion yen.

• Comprehensive income surged 43.5% year-over-year to 6.4 billion yen.

• Shareholders' equity improved to 93.3 billion yen, with a ratio of 31.6%.

• Net D/E ratio improved to 1.04 from 1.07 at the end of FY2024.

Outlook and guidance

• Full-year net sales forecast at 404.0 billion yen, up 8.9% year-over-year; operating profit forecast at 39.0 billion yen, up 0.8%.

• Profit attributable to owners of parent projected at 21.5 billion yen, up 15.4% year-over-year.

• Continued focus on accelerating development of Times PARKING sites to achieve the full-year target of 1,800 new sites.

• Ongoing promotional activities and network expansion expected to drive further growth in the Mobility Business.

• No changes to previously announced earnings forecasts.