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

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%

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