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The Kansai Electric Power Company, Incorporated, First Half Ordinary Profit Decreases by 38%, July-September Ordinary Profit Decreases by 38%

Wed Oct 30, 2024 4:00 pm JST Earnings

9503 The Kansai Electric Power Company, Incorporated 【J-GAAP】

Earnings Report

The Kansai Electric Power Company, Incorporated <9503> [TSE-P] announced its financial results after the market closed on October 30th (16:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) dropped by 37.5% from the same period last year to 319 billion yen. The progress rate against the 360 billion yen full-year plan was 88.7%, also surpassing the five-year average of 83.5%.

Based on the first-half performance announced by the company and the unchanged full-year plan, our calculation indicates that the consolidated ordinary profit for the October to March period (second half) is expected to significant drop by 84.0% from the same period last year to 40.7 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit dropped to 150 billion yen, a 38.1% decrease compared to the same period last year. The operating profit margin significantly dropped from 21.0% in the same period last year to 12.9%.

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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 1,784,207 -151,916 -111,855 -76,382 -85.6 Oct 31, 2022 J-GAAP
Apr - Sep, 2023 2,073,046 488,226 511,152 371,059 415.8 66.7 Oct 30, 2023 J-GAAP
Apr - Sep, 2024 2,136,504 297,233 319,239 228,833 256.4 88.7 Oct 30, 2024 J-GAAP
YoY +3.1% -39.1% -37.5% -38.3% -38.3%

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 30 Apr 30, 2024 J-GAAP
Apr - Sep, 2024 Results 2,136,504 297,233 319,239 228,833 256.4 30 Oct 30, 2024 J-GAAP
Revision Rate

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 1,986,332 240,709 254,818 70,811 79.3 25 Apr 30, 2024 J-GAAP
Oct - Mar, 2024 Guidance 2,313,496 32,767 40,761 31,167 28.0 30 Oct 30, 2024 J-GAAP
YoY +16.5% -86.4% -84.0% -56.0% -64.7%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 3,951,884 -52,056 -6,666 17,679 19.8 50 Apr 27, 2023 J-GAAP
Mar, 2024 4,059,378 728,935 765,970 441,870 495.1 50 Apr 30, 2024 J-GAAP
Mar, 2025 Guidance 4,450,000 330,000 360,000 260,000 233.4 60 Apr 30, 2024 J-GAAP
YoY +9.6% -54.7% -53.0% -41.2% -52.9%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 1,106,453 231,859 242,850 177,878 199.3 21.0 Oct 30, 2023 J-GAAP
Oct - Dec, 2023 925,018 124,466 128,262 -20,024 -22.4 13.5 Jan 31, 2024 J-GAAP
Jan - Mar, 2024 1,061,314 116,243 126,556 90,835 101.8 11.0 Apr 30, 2024 J-GAAP
Apr - Jun, 2024 984,149 148,773 168,962 115,775 129.7 15.1 Jul 30, 2024 J-GAAP
Jul - Sep, 2024 1,152,355 148,460 150,277 113,058 126.7 12.9 Oct 30, 2024 J-GAAP
YoY +4.1% -36.0% -38.1% -36.4% -36.4%

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