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Hokkaido Electric Power, The Current Fiscal Year Ordinary Profit Revised Upward by 16%

Fri Jan 31, 2025 3:30 pm JST Earnings

9509 Hokkaido Electric Power Company, Incorporated 【J-GAAP】

Earnings Report

Hokkaido Electric Power Company, Incorporated <9509> [TSE Prime] announced its financial results after the market closed on January 31st (15:30). The consolidated ordinary profit for the cumulative third quarter of the fiscal year ending March 2025 (April to December) decreased 23.0% from the same period last year to 56.8 billion yen.

However, the full-year consolidated ordinary profit has been revised upward 16.2%, from the previous forecast of 37 billion yen to 43 billion yen (compared to 87.3 billion yen in the previous period), and the declining rate is expected to decrease from 57.6% to 50.8%.

Based on the full-year plan announced by the company after the upward revision, our estimate of the consolidated ordinary profit/loss for the October to March period (2H) has been revised upward from an expected loss of 13.7 billion yen to a loss of 7.78 billion yen (compared to a profit of 16.9 billion yen in the same period of the previous year), indicating a reduction in the loss margin.

In the most recent three-month period, from October to December (3Q), the consolidated ordinary profit increased 73.4% from the same period last year, reaching 6.01 billion yen. The operating profit margin improved from 2.7% in the same period last year to 3.6%.

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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 623,847 -26,847 -31,590 -21,005 -107.5 ー Jan 26, 2023 J-GAAP
Apr - Dec, 2023 685,581 81,030 73,793 53,661 256.1 84.5 Jan 31, 2024 J-GAAP
Apr - Dec, 2024 646,403 64,495 56,804 54,665 261.1 132.1 Jan 31, 2025 J-GAAP
YoY -5.7% -20.4% -23.0% +1.9% +2.0%

Guidance Update

Second Half Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Oct - Mar, 2024 Prev 485,290 -6,168 -13,787 -7,682 -36.2 10 Oct 31, 2024 J-GAAP
Oct - Mar, 2024 New 490,290 -168 -7,787 -3,682 -17.4 10 Jan 31, 2025 J-GAAP
Revision Rate +1.0% +97.3% +43.5% +52.1% +51.9%

Full Year Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2025 Prev 902,000 50,000 37,000 43,000 202.6 20 Oct 31, 2024 J-GAAP
Mar, 2025 New 907,000 56,000 43,000 47,000 222.0 20 Jan 31, 2025 J-GAAP
Revision Rate +0.6% +12.0% +16.2% +9.3% +9.6%

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 495,205 26,189 16,992 15,164 72.3 15 Apr 26, 2024 J-GAAP
Oct - Mar, 2024 Guidance 490,290 -168 -7,787 -3,682 -17.4 10 Jan 31, 2025 J-GAAP
YoY -1.0% － － － －

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 888,874 -22,530 -29,251 -22,193 -115.0 0 Apr 27, 2023 J-GAAP
Mar, 2024 953,784 101,155 87,315 66,201 315.4 20 Apr 26, 2024 J-GAAP
Mar, 2025 Guidance 907,000 56,000 43,000 47,000 222.0 20 Jan 31, 2025 J-GAAP
YoY -4.9% -44.6% -50.8% -29.0% -29.6%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Oct - Dec, 2023 227,002 6,064 3,470 2,624 12.5 2.7 Jan 31, 2024 J-GAAP
Jan - Mar, 2024 268,203 20,125 13,522 12,540 59.8 7.5 Apr 26, 2024 J-GAAP
Apr - Jun, 2024 202,569 34,676 33,172 31,245 150.5 17.1 Jul 31, 2024 J-GAAP
Jul - Sep, 2024 214,141 21,492 17,615 19,437 93.4 10.0 Oct 31, 2024 J-GAAP
Oct - Dec, 2024 229,693 8,327 6,017 3,983 19.0 3.6 Jan 31, 2025 J-GAAP
YoY +1.2% +37.3% +73.4% +51.8% +51.9%

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