Chubu Electric Power Company,Incorporated, The Current Fiscal Year Ordinary Profit Revised Upward by 28%

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Tue Oct 29, 2024 4:00 pm JST Earnings

9502 Chubu Electric Power Company,Incorporated 【J-GAAP】

Earnings Report

Chubu Electric Power Company,Incorporated <9502> [TSE-P] announced its financial results after the market closed on October 29th (16:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) significantly dropped by 50.2% from the same period last year to 187 billion yen.

However, the full-year consolidated ordinary profit has been revised upward by 27.9%, from the previous forecast of 215 billion yen to 275 billion yen (compared to 509 billion yen in the previous period), and the declining rate is expected to decrease from 57.8% to 46.0%.

Based on the first-half performance announced by the company and the full-year plan, our calculation indicates that the consolidated ordinary profit for the October to March period (second half) is expected to drop by 34.0% from the same period last year to 87 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit significantly dropped to 63 billion yen, a 53.1% decrease compared to the same period last year. The operating profit margin drastically worsened from 9.4% in the same period last year to 6.0%.

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Actual Results

Accumulated Results 2nd Quarter

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Progress Rate vs. First Half	Announce	Accounting Standards
Apr - Sep, 2022	1,779,233	61,261	-23,068	-42,657	-56.4	ー	Oct 28, 2022	J-GAAP
Apr - Sep, 2023	1,841,544	245,658	377,305	311,527	412.0	74.1	Oct 27, 2023	J-GAAP
Apr - Sep, 2024	1,766,482	142,754	187,928	146,977	194.4	68.3	Oct 29, 2024	J-GAAP
YoY	-4.1%	-41.9%	-50.2%	-52.8%	-52.8%

First Half Results vs. Previous Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Apr - Sep, 2024 Guidance	ー	ー	ー	ー	－	30	Apr 26, 2024	J-GAAP
Apr - Sep, 2024 Results	1,766,482	142,754	187,928	146,977	194.4	30	Oct 29, 2024	J-GAAP
Revision Rate	－	－	－	－	－

Guidance Update

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	3,600,000	ー	215,000	170,000	224.8	60	Apr 26, 2024	J-GAAP
Mar, 2025 New	3,600,000	ー	275,000	210,000	277.7	60	Oct 29, 2024	J-GAAP
Revision Rate	0.0%	－	+27.9%	+23.5%	+23.5%

Current Period Guidance

Second Half Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Oct - Mar, 2023	1,768,870	97,681	131,990	91,613	121.2	30	Apr 26, 2024	J-GAAP
Oct - Mar, 2024 Guidance	1,833,518	ー	87,072	63,023	83.4	30	Oct 29, 2024	J-GAAP
YoY	+3.7%	－	-34.0%	-31.2%	-31.2%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	3,986,681	107,089	65,148	38,231	50.6	50	Apr 28, 2023	J-GAAP
Mar, 2024	3,610,414	343,339	509,295	403,140	533.2	55	Apr 26, 2024	J-GAAP
Mar, 2025 Guidance	3,600,000	ー	275,000	210,000	277.7	60	Oct 29, 2024	J-GAAP
YoY	-0.3%	－	-46.0%	-47.9%	-47.9%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	943,940	88,472	134,364	109,477	144.8	9.4	Oct 27, 2023	J-GAAP
Oct - Dec, 2023	855,599	43,953	59,659	45,576	60.3	5.1	Jan 31, 2024	J-GAAP
Jan - Mar, 2024	913,271	53,728	72,331	46,037	60.9	5.9	Apr 26, 2024	J-GAAP
Apr - Jun, 2024	820,592	85,867	124,925	99,537	131.7	10.5	Jul 31, 2024	J-GAAP
Jul - Sep, 2024	945,890	56,887	63,003	47,440	62.7	6.0	Oct 29, 2024	J-GAAP
YoY	+0.2%	-35.7%	-53.1%	-56.7%	-56.7%