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Hotel Shilla profit misses consensus by 93.5% in Q4

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Hotel Shilla profit misses consensus by 93.5% in Q4

Hotel Shilla Co. Ltd. said its normalized net income for the fourth quarter came to 58.36 South Korean won per share, compared with the S&P Capital IQ consensus estimate of 901.96 won per share.

EPS declined 81.0% year over year from 306.75 won.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 2.25 billion won, a decline of 81.3% from 12.08 billion won in the year-earlier period.

The normalized profit margin fell to 0.3% from 1.5% in the year-earlier period.

Total revenue rose year over year to 847.61 billion won from 813.67 billion won, and total operating expenses climbed 6.3% year over year to 836.33 billion won from 787.12 billion won.

Reported net income totaled a loss of 2.39 billion won, or a loss of 61.78 won per share, compared to income of 3.98 billion won, or 101.04 won per share, in the year-earlier period.

For the year, the company's normalized net income totaled 777.83 won per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 1,235.12 won.

EPS declined 58.1% from 1,854.80 won in the prior year.

Normalized net income was 30.03 billion won, a decrease of 58.9% from 73.04 billion won in the prior year.

Full-year total revenue grew 11.8% on an annual basis to 3.252 trillion won from 2.909 trillion won, and total operating expenses rose 14.6% year over year to 3.175 trillion won from 2.770 trillion won.

The company said reported net income declined 75.4% year over year to 18.10 billion won, or 468.70 won per share, in the full year, from 73.48 billion won, or 1,866.00 won per share.

As of Feb. 23, US$1 was equivalent to 1,231.45 South Korean won.