HOKKAIDO GAS CO., LTD., First Half Ordinary Profit Decreases by 21%, July-September Ordinary Profit Turns to Loss

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Thu Oct 31, 2024 3:00 pm JST Earnings

9534 HOKKAIDO GAS CO., LTD. 【J-GAAP】

Earnings Report

HOKKAIDO GAS CO., LTD. <9534> [TSE-P] announced its financial results after the market closed on October 31st (15:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) decreased by 21.4% from the same period last year to 4.89 billion yen. The progress rate against the 13.5 billion yen full-year plan was 36.2%, which was higher than the five-year average of 27.2%.

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 decrease by 10.9% from the same period last year to 8.6 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit/loss turned to a loss of 234 million yen (compared to a profit of 856 million yen in the same period last year). The operating profit/loss margin drastically worsened from 2.7% in the same period last year to -0.6%.

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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	62,546	3,049	3,209	2,318	26.3	24.0	Oct 28, 2022	J-GAAP
Apr - Sep, 2023	72,947	6,044	6,220	4,435	50.4	39.2	Oct 31, 2023	J-GAAP
Apr - Sep, 2024	68,024	4,792	4,892	3,485	39.6	36.2	Oct 31, 2024	J-GAAP
YoY	-6.7%	-20.7%	-21.4%	-21.4%	-21.4%

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	－	9	Apr 26, 2024	J-GAAP
Apr - Sep, 2024 Results	68,024	4,792	4,892	3,485	39.6	9	Oct 31, 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	100,938	9,551	9,663	7,192	81.6	9	Apr 26, 2024	J-GAAP
Oct - Mar, 2024 Guidance	97,976	8,408	8,608	6,315	71.7	9	Oct 31, 2024	J-GAAP
YoY	-2.9%	-12.0%	-10.9%	-12.2%	-12.2%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	174,840	13,342	13,395	9,963	113.1	14	Apr 28, 2023	J-GAAP
Mar, 2024	173,885	15,595	15,883	11,627	132.0	16	Apr 26, 2024	J-GAAP
Mar, 2025 Guidance	166,000	13,200	13,500	9,800	111.2	18	Apr 26, 2024	J-GAAP
YoY	-4.5%	-15.4%	-15.0%	-15.7%	-15.7%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	32,679	896	856	602	6.8	2.7	Oct 31, 2023	J-GAAP
Oct - Dec, 2023	41,802	709	721	435	4.9	1.7	Jan 31, 2024	J-GAAP
Jan - Mar, 2024	59,136	8,842	8,942	6,757	76.7	15.0	Apr 26, 2024	J-GAAP
Apr - Jun, 2024	36,533	4,968	5,126	3,672	41.7	13.6	Jul 31, 2024	J-GAAP
Jul - Sep, 2024	31,491	-176	-234	-187	-2.1	-0.6	Oct 31, 2024	J-GAAP
YoY	-3.6%	－	－	－	－