Electric Power Development Co., Ltd., The Current Fiscal Year Ordinary Profit Revised Upward by 53%

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Thu Oct 31, 2024 4:40 pm JST Earnings

9513 Electric Power Development Co., Ltd. 【J-GAAP】

Earnings Report

Electric Power Development Co., Ltd. <9513> [TSE-P] announced its financial results after the market closed on October 31st (16:40). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) expanded to 71 billion yen, an increase of 67.5% compared to the same period last year.

In addition, the full-year consolidated ordinary profit has been revised upward by 53.2%, from the previous forecast of 62 billion yen to 95 billion yen (compared to 118 billion yen in the previous period), and the declining rate is expected to decrease from 47.7% to 19.9%.

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 significant drop by 68.5% from the same period last year to 23.9 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit surged to 2.4 times that of the same period last year, reaching 36 billion yen. The operating profit margin significantly improved from 5.3% in the same period last year to 10.0%.

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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	839,798	86,318	86,139	58,400	319.1	50.4	Oct 31, 2022	J-GAAP
Apr - Sep, 2023	631,594	44,998	42,422	27,731	151.7	35.8	Oct 31, 2023	J-GAAP
Apr - Sep, 2024	640,725	70,791	71,058	48,335	264.3	74.8	Oct 31, 2024	J-GAAP
YoY	+1.4%	+57.3%	+67.5%	+74.3%	+74.3%

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	－	50	May 9, 2024	J-GAAP
Apr - Sep, 2024 Results	640,725	70,791	71,058	48,335	264.3	50	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	1,155,000	64,000	62,000	42,000	229.7	100	May 9, 2024	J-GAAP
Mar, 2025 New	1,305,000	93,000	95,000	64,000	350.0	100	Oct 31, 2024	J-GAAP
Revision Rate	+13.0%	+45.3%	+53.2%	+52.4%	+52.4%

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	626,404	60,706	76,113	50,043	273.7	55	May 9, 2024	J-GAAP
Oct - Mar, 2024 Guidance	664,275	22,209	23,942	15,665	85.7	50	Oct 31, 2024	J-GAAP
YoY	+6.0%	-63.4%	-68.5%	-68.7%	-68.7%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	1,841,922	183,867	170,792	113,689	621.5	90	May 10, 2023	J-GAAP
Mar, 2024	1,257,998	105,704	118,535	77,774	425.3	100	May 9, 2024	J-GAAP
Mar, 2025 Guidance	1,305,000	93,000	95,000	64,000	350.0	100	Oct 31, 2024	J-GAAP
YoY	+3.7%	-12.0%	-19.9%	-17.7%	-17.7%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	350,212	18,440	14,975	10,120	55.3	5.3	Oct 31, 2023	J-GAAP
Oct - Dec, 2023	329,248	38,727	42,379	28,625	156.5	11.8	Jan 31, 2024	J-GAAP
Jan - Mar, 2024	297,156	21,979	33,734	21,418	117.1	7.4	May 9, 2024	J-GAAP
Apr - Jun, 2024	259,056	32,676	35,044	25,469	139.3	12.6	Jul 31, 2024	J-GAAP
Jul - Sep, 2024	381,669	38,115	36,014	22,866	125.0	10.0	Oct 31, 2024	J-GAAP
YoY	+9.0%	+106.7%	+140.5%	+125.9%	+125.9%