Hokuriku Electric Power, Apr-Dec (Cumulative 3Q) Ordinary Profit Decreases by 14%, Exceeds Full-Year Plan

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Thu Jan 30, 2025 3:30 pm JST Earnings

9505 Hokuriku Electric Power Company 【J-GAAP】

Earnings Report

Hokuriku Electric Power Company <9505> [TSE Prime] announced its financial results after the market closed on January 30th (15:30). The consolidated ordinary profit for the cumulative third quarter of the fiscal year ending March 2025 (April to December) decreased 13.6% from the same period last year to 73.5 billion yen. However, the progress rate toward the full-year plan of 60 billion yen is 122.6%, already exceeding the target and also exceeding the five-year average of 102.3%.

Based on the cumulative third-quarter performance announced by the company and the unchanged full-year plan, our calculation indicates that the consolidated ordinary profit/loss for the January to March period (4Q) is expected to turn into a loss of 13.5 billion yen (compared to a profit of 22.7 billion yen in the same period last year).

In the most recent three-month period, from October to December (3Q), the consolidated ordinary profit decreased to 13.4 billion yen, a 11.4% decrease compared to the same period last year. The operating profit margin worsened from 8.3% in the same period last year to 7.8%.

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Actual Results

Accumulated Results 3rd Quarter

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Progress Rate vs. First Half	Announce	Accounting Standards
Apr - Dec, 2022	580,184	-67,250	-74,970	-75,754	-362.9	ー	Jan 30, 2023	J-GAAP
Apr - Dec, 2023	593,704	90,509	85,146	60,349	289.1	78.9	Jan 31, 2024	J-GAAP
Apr - Dec, 2024	626,757	78,460	73,589	54,112	259.1	122.6	Jan 30, 2025	J-GAAP
YoY	+5.6%	-13.3%	-13.6%	-10.3%	-10.4%

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	400,317	39,899	37,928	5,623	26.9	7.50	Apr 30, 2024	J-GAAP
Oct - Mar, 2024 Guidance	434,688	2,660	-165	793	3.8	10	Oct 30, 2024	J-GAAP
YoY	+8.6%	-93.3%	－	-85.9%	-85.9%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	817,601	-73,791	-93,737	-88,446	-423.7	0	Apr 27, 2023	J-GAAP
Mar, 2024	808,238	114,911	107,931	56,811	272.2	7.50	Apr 30, 2024	J-GAAP
Mar, 2025 Guidance	855,000	65,000	60,000	45,000	215.5	17.50	Oct 30, 2024	J-GAAP
YoY	+5.8%	-43.4%	-44.4%	-20.8%	-20.8%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Oct - Dec, 2023	185,783	15,497	15,143	9,161	43.9	8.3	Jan 31, 2024	J-GAAP
Jan - Mar, 2024	214,534	24,402	22,785	-3,538	-17.0	11.4	Apr 30, 2024	J-GAAP
Apr - Jun, 2024	187,636	35,994	35,216	26,421	126.6	19.2	Jul 30, 2024	J-GAAP
Jul - Sep, 2024	232,676	26,346	24,949	17,786	85.2	11.3	Oct 30, 2024	J-GAAP
Oct - Dec, 2024	206,445	16,120	13,424	9,905	47.4	7.8	Jan 30, 2025	J-GAAP
YoY	+11.1%	+4.0%	-11.4%	+8.1%	+8.1%