Electric Power Development, The Current Fiscal Year Ordinary Profit Revised Upward to an Unexpected 7% Increase

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Fri Jan 31, 2025 4:40 pm JST Earnings

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

Earnings Report

Electric Power Development Co., Ltd. <9513> [TSE Prime] announced its financial results after the market closed on January 31st (16:40). The consolidated ordinary profit for the cumulative third quarter of the fiscal year ending March 2025 (April to December) expanded 124 billion yen, an increase 47.3% compared to the same period last year.

In addition, the full-year consolidated ordinary profit has been revised upward 33.7%, from the previous forecast of 95 billion yen to 127 billion yen (compared to 118 billion yen in the previous period), turning to a 7.1% increase in the consolidated ordinary profit outlook.

Based on the full-year plan announced by the company after the upward revision, our estimate of the consolidated ordinary profit for the October to March period (2H) has been revised upward 2.3 times, from the previous forecast of 23.9 billion yen to 55.9 billion yen (compared to 76.1 billion yen in the same period of the previous year), and the declining rate is expected to decrease from 68.5% to 26.5%.

In the most recent three-month period, from October to December (3Q), the consolidated ordinary profit grew 27.2% from the same period last year, reaching 53.8 billion yen. The operating profit margin rose from 11.8% in the same period last year to 13.6%.

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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	1,401,554	161,511	158,247	111,057	607.0	92.7	Jan 31, 2023	J-GAAP
Apr - Dec, 2023	960,842	83,725	84,801	56,356	308.2	71.5	Jan 31, 2024	J-GAAP
Apr - Dec, 2024	958,959	114,191	124,950	79,611	435.3	98.4	Jan 31, 2025	J-GAAP
YoY	-0.2%	+36.4%	+47.3%	+41.3%	+41.3%

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	664,275	22,209	23,942	15,665	85.7	50	Oct 31, 2024	J-GAAP
Oct - Mar, 2024 New	693,275	42,209	55,942	39,665	216.9	50	Jan 31, 2025	J-GAAP
Revision Rate	+4.4%	+90.1%	+133.7%	+153.2%	+153.2%

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	1,305,000	93,000	95,000	64,000	350.0	100	Oct 31, 2024	J-GAAP
Mar, 2025 New	1,334,000	113,000	127,000	88,000	481.2	100	Jan 31, 2025	J-GAAP
Revision Rate	+2.2%	+21.5%	+33.7%	+37.5%	+37.5%

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	693,275	42,209	55,942	39,665	216.9	50	Jan 31, 2025	J-GAAP
YoY	+10.7%	-30.5%	-26.5%	-20.7%	-20.7%

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	1,334,000	113,000	127,000	88,000	481.2	100	Jan 31, 2025	J-GAAP
YoY	+6.0%	+6.9%	+7.1%	+13.1%	+13.1%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
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
Oct - Dec, 2024	318,234	43,400	53,892	31,276	171.0	13.6	Jan 31, 2025	J-GAAP
YoY	-3.3%	+12.1%	+27.2%	+9.3%	+9.3%