Hokuriku Electric Power Company, The Current Fiscal Year Ordinary Profit Revised Upward by 33%, Dividend Revised Upward by 2.5 yen

Hokuriku Electric Power Company <9505> [TSE-P] announced its financial results after the market closed on October 30th (15:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) decreased by 14.1% from the same period last year to 60.1 billion yen.

However, the full-year consolidated ordinary profit has been revised upward by 33.3%, from the previous forecast of 45 billion yen to 60 billion yen (compared to 107 billion yen in the previous period), and the declining rate is expected to decrease from 58.3% to 44.4%.

Based on the first-half performance announced by the company and the full-year plan, our calculation indicates that the consolidated ordinary profit/loss for the October to March period (second half) is expected to turn into a loss of 165 million yen (compared to a profit of 37.9 billion yen in the same period last year).

In light of the strong performance, the company has increased its planned annual dividend for the current fiscal year from the original plan of 15 yen to 17.5 yen (compared to 7.5 yen in the previous period).

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit decreased to 24.9 billion yen, a 14.0% decrease compared to the same period last year. The operating profit margin decreased from 15.4% in the same period last year to 11.3%.

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