The Okinawa Electric Power Company,Incorporated, First Half Ordinary Profit Increases by 63%

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Thu Oct 31, 2024 3:00 pm JST Earnings

9511 The Okinawa Electric Power Company,Incorporated 【J-GAAP】

Earnings Report

The Okinawa Electric Power Company,Incorporated <9511> [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) expanded to 6.87 billion yen, an increase of 63.0% compared to the same period last year. The progress rate against the full-year plan of 6.8 billion yen is 101.0%, but was lower than the the five-year average of 133.9%.

Based on the first-half performance announced by the company and the full-year plan, our calculation indicates that the consolidated ordinary loss for the October to March period (second half) is expected to further decrease to loss of 71 million yen (compared to a loss of 1.64 billion yen in the same period last year).

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit amounted to 9.77 billion yen, an increase of 0.4% compared to the same period last year. The operating profit margin rose from 13.2% in the same period last year to 13.4%.

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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	118,738	-22,518	-22,473	-16,819	-309.7	ー	Nov 1, 2022	J-GAAP
Apr - Sep, 2023	130,501	4,704	4,216	3,238	59.6	164.2	Oct 31, 2023	J-GAAP
Apr - Sep, 2024	127,229	7,284	6,871	5,354	98.6	101.0	Oct 31, 2024	J-GAAP
YoY	-2.5%	+54.8%	+63.0%	+65.3%	+65.3%

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	ー	ー	ー	ー	－	10	Apr 30, 2024	J-GAAP
Apr - Sep, 2024 Results	127,229	7,284	6,871	5,354	98.6	10	Oct 31, 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	232,200	8,100	6,800	5,000	92.1	20	Jul 31, 2024	J-GAAP
Mar, 2025 New	233,600	8,100	6,800	5,000	92.1	20	Oct 31, 2024	J-GAAP
Revision Rate	+0.6%	0.0%	0.0%	0.0%	0.0%

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	105,893	-1,223	-1,648	-847	-15.6	5	Apr 30, 2024	J-GAAP
Oct - Mar, 2024 Guidance	106,371	816	-71	-354	-6.5	10	Oct 31, 2024	J-GAAP
YoY	+0.5%	－	+95.7%	+58.2%	+58.2%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	223,517	-48,406	-48,799	-45,457	-837.0	0	Apr 28, 2023	J-GAAP
Mar, 2024	236,394	3,481	2,568	2,391	44.0	10	Apr 30, 2024	J-GAAP
Mar, 2025 Guidance	233,600	8,100	6,800	5,000	92.1	20	Oct 31, 2024	J-GAAP
YoY	-1.2%	+132.7%	+164.8%	+109.1%	+109.1%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	76,723	10,109	9,744	8,939	164.6	13.2	Oct 31, 2023	J-GAAP
Oct - Dec, 2023	56,811	1,880	1,636	1,326	24.4	3.3	Jan 31, 2024	J-GAAP
Jan - Mar, 2024	49,082	-3,103	-3,284	-2,173	-40.0	-6.3	Apr 30, 2024	J-GAAP
Apr - Jun, 2024	52,453	-2,703	-2,908	-2,943	-54.2	-5.2	Jul 31, 2024	J-GAAP
Jul - Sep, 2024	74,776	9,987	9,779	8,297	152.8	13.4	Oct 31, 2024	J-GAAP
YoY	-2.5%	-1.2%	+0.4%	-7.2%	-7.2%