CHUBU ELECTRIC POWER CO., INC Presentation Materials
for Six-Months ended September 30, 2023
October 27, 2023
INDEX
Ⅰ ｜ Outline of Financial Results for Six-Months ended September 30, 2023
Summary of Financial Results
Summary of Financial Results by Segments Electrical Power Generation [Reference] Image of Time Lag (Result) Summary of Forecast for FY2023 Dividends
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Ⅱ ｜ Reference Data: Financial Results
Consolidated Statements of Income | ･･･････････････13 |
Consolidated Financial Standing | ･･･････････････14 |
Forecast for FY2023 by Segments | ･･･････････････15 |
Consolidated Financial Indicators | ･･･････････････16 |
C o p y r i g h t © C h u b u E l e c t r i c P o we r C o . , I n c . A l l r i g h t s r e s e r v e d .
- Outline of Financial Results for Six-Months ended September 30, 2023
Note: The company's fiscal year (FY) is from April 1 to March 31 of the following year.
FY2023 represents the fiscal year begun on April 1, 2023, and ending on March 31, 2024.
2nd Quarter (2Q) represents six months period ended September 30, 2023.
Monetary amounts are rounded down to the nearest whole number of the units being used, while principal figures like electrical energy sold or electric energy output are rounded to the nearest unit.
C o p y r i g h t © C h u b u E l e c t r i c P o we r C o . , I n c . A l l r i g h t s r e s e r v e d .
Summary of Financial Results <1>
(Consolidated)- Operating revenues: 1,841.5 billion yen
Operating revenues increased by 62.3 billion yen compared with 2022/2Q, mainly due to an increase in fuel cost adjustment charge (+78.5 billion yen*). *including subsidiary aid for drastic mitigation measures of Electricity charges (+149.0 billion yen)
- Ordinary income: 377.3 billion yen
Ordinary income increased by 400.3 billion yen compared with 2022/2Q, mainly due to time lag impact becoming gain instead of loss (+302.0 billion yen), a reduction in power supply procurement costs in Miraiz and a decrease in supply and demand adjustment costs in Power Grid.
- Net income attributable to owners of parent: 311.5 billion yen
Net income attributable to owners of parent increased by 354.1 billion yen compared with 2022/2Q, mainly due to an increase in ordinary income.
・Operating revenues increased for 2 years since 2022/2Q. | ||||||
・Ordinary income increased for the first time in 3 years since 2020/2Q. | ||||||
・We recorded increased sales and increased income for the first time in 4 years since 2019/2Q. | (Billion yen,%) | |||||
2023/2Q | 2022/2Q | Change | ||||
(A) | (B) | (A-B) | (A-B)/B | |||
Operating revenues | 1,841.5 | 1,779.2 | 62.3 | 3.5 | ||
Operating income | 245.6 | 61.2 | 184.3 | 301.0 | ||
Ordinary income (loss) | 377.3 | (23.0) | 400.3 | - | ||
Extraordinary income | 6.4 | - | 6.4 | - | ||
Extraordinary loss | - | 10.0 | (10.0) | - | ||
Net income (loss) attributable to owners of parent | 311.5 | (42.6) | 354.1 | - | ||
(Note) The number of consolidated subsidiaries [change from the previous year in parenthesis] | ||||||
2023/2Q: 63 subsidiaries (+3 companies), 77 affiliates accounted for under the equity method (+11 companies) |
1 | C o p y r i g h t © C h u b u E l e c t r i c P o we r C o . , I n c . A l l r i g h t s r e s e r v e d . |
Summary of Financial Results <2>
2,2000,00.0
1,1800,00.0
1,1600,00.0
1,1400,00.0
1,1200,00.0
1,00010,000.0
2
(Operating revenues increased by 62.3 billion yen)
(Billion yen)
An increase in fuel cost | Others |
adjustment charge | |
78.5 | -16.1 |
*including subsidiary aid for drastic | |
mitigation measures of Electricity | |
charges (+149.0 billion yen) |
1,779.2 | 1,841.5 |
2022/2Q | 2023/2Q |
Operating Revenues | Operating Revenues |
C o p y r i g h t © C h u b u E l e c t r i c P o we r C o . , I n c . A l l r i g h t s r e s e r v e d . |
Summary of Financial Results <3>
5,00500.0
4,5050.0
4,00400.0
3,5050.0 | |
3,00300.0 | Time lag income |
2,5050.0 | |
2,00200.0 | 302.0 |
1,50150.0 | (-182.0 |
→120.0) | |
1,00100.0 | approx. |
50 | 159.0 |
Excluding | |
50.0 | |
0.0 | Time lag |
-23.0 | |
△(50500.0) 2022/2Q
Ordinary Loss
3
(Ordinary income increased by 400.3 billion yen)
(Billion yen)
Miraiz | Power Grid | ||
70.8 | |||
(Excluding | -81.4 | Others | |
time lag) | |||
JERA | 4.3 | ||
104.6 | |||
(Excluding | |||
time lag) |
377.3
approx. | |
An increase in ordinary income excluding time lag | 257.0 |
Excluding | |
(approx. 98.0) | |
Time lag | |
2023/2Q
Ordinary Income
C o p y r i g h t © C h u b u E l e c t r i c P o we r C o . , I n c . A l l r i g h t s r e s e r v e d .
Summary of Financial Results by Segments <1>
[Operating revenues] | (Billion yen, %) | |||||
2023/2Q | 2022/2Q | Change | ||||
(A) | (B) | (A-B) | (A-B)/B | |||
Miraiz | 1,509.3 | 1,361.6 | 147.6 | 10.8 | ||
Power Grid | 444.9 | 566.1 | (121.2) | (21.4) | ||
Other (*1) | 412.2 | 388.6 | 23.5 | 6.1 | ||
Adjustment | (524.9) | (537.2) | 12.3 | (2.3) | ||
Total | 1,841.5 | 1,779.2 | 62.3 | 3.5 | ||
[Ordinary income/loss] | (Billion yen, %) | |||||
2023/2Q | 2022/2Q | Change | ||||
(A) | (B) | (A-B) | (A-B)/B | |||
Miraiz | 161.7 | 45.1 | 116.6 | 258.5 | ||
Power Grid | 56.8 | (14.0) | 70.8 | - | ||
JERA (*2) | 136.3 | (72.1) | 208.5 | - | ||
Other (*1) | 29.7 | 47.9 | (18.1) | (37.9) | ||
Adjustment | (7.3) | (29.8) | 22.5 | (75.3) | ||
Total | 377.3 | (23.0) | 400.3 | - | ||
(Note) Each segment is stated before eliminating internal transaction.
*1 "Other" is business segment that is not reporting segments and includes Renewable Energy Company, Global Business Division, Business Development Division, Nuclear Power Division, administrative division, and other affiliated companies.
*2 JERA is the affiliate accounted for under the equity method so that JERA's operating revenues aren't recorded.
4 | C o p y r i g h t © C h u b u E l e c t r i c P o we r C o . , I n c . A l l r i g h t s r e s e r v e d . |
Summary of Financial Results by Segments <2>: Miraiz
- Ordinary income increased by 116.6 billion yen compared with 2022/2Q, mainly due to a reduction in power supply procurement
costs, etc.
[Reference] Ordinary income excluding time lag: Approx. 150.0 billion yen (increased by approx. 105.0 billion yen compared with 2022/2Q)
180,80.0
160,60.0
140,40.0
120,20.0
100,00.0
8080.0
6060.0
4040.0
2020.0
0
Others
A decrease | 66.6 | |
in power | ||
procurement costs | ||
37.9 | ||
Time lag gain | ||
12.0 | ||
45.1 | An increase in | |
ordinary income | ||
2022/2Q | excluding time lag | |
(approx. 105.0) | ||
Ordinary | ||
Income |
(Billion yen)
161.7
approx.
150.0
Excluding
Time lag
2023/2Q Ordinary Income
(TWh,%) | |||||||
2023/2Q | 2022/2Q | Change | |||||
(A) | (B) | (A-B) | (A-B)/B | ||||
Low voltage | 14.0 | 14.3 | (0.3) | (2.0) | |||
High voltage・ | 37.5 | 37.2 | 0.3 | 0.7 | |||
Extra-high voltage | |||||||
Total | 51.5 | 51.6 | (0.0) | (0.1) | |||
| Competitive impacts in sales | |||||||
An impact of temperature and market, etc. <(approx. 0.8)> | |||||||
[Reference] | |||||||
Electrical Energy Sold | 55.0 | 56.8 | (1.7) | (3.1) | |||
including group companies | |||||||
Electrical Energy Sold | 5.2 | 6.3 | (1.1) | (17.8) | |||
to other companies | |||||||
- Electrical Energy Sold including group companies is the total of Miraiz, its consolidated subsidiaries, and affiliates accounted for under the equity method.
- Electricity Energy Sold to other companies excludes electrical energy sold to Miraiz's consolidated subsidiaries and affiliates accounted for under the equity method.
- The amount of Electrical Energy Sold to other companies is the amount of electric energy we know as of the end of period.
5 | C o p y r i g h t © C h u b u E l e c t r i c P o we r C o . , I n c . A l l r i g h t s r e s e r v e d . |
Summary of Financial Results by Segments <3>: Power Grid
Ordinary income increased by 70.8 billion yen compared with 2022/2Q, mainly due to revision of transmission charges by Revenue cap system and a decrease in supply and demand adjustment costs in spite of a decrease in transmission revenue by a decrease in energy demand in Chubu region.
600
60.0
500
50.0
400
40.0
(Billion yen)
Others
A decrease in supply and 12.4 demand adjustment costs
(TWh,%) |
3030.0
2020.0
1010.0
0
△(101.00)
Revision of | 56.8 |
43.5 | |
transmission charges by | |
Revenue cap system |
2022/2Q Ordinary Loss
2023/2Q
-14.019.8Ordinary
Income
2023/2Q | 2022/2Q | Change | ||
(A) | (B) | (A-B) | (A-B)/B | |
Low voltage | 17.8 | 18.3 | (0.4) | (2.4) |
High voltage・ | 43.2 | 44.2 | (0.9) | (2.1) |
Extra-high voltage | ||||
Total | 61.1 | 62.4 | (1.4) | (2.2) |
△(20200.0)
-4. | A decrease in transmission |
revenue by a decrease in energy
demand in Chubu region
6 | C o p y r i g h t © C h u b u E l e c t r i c P o we r C o . , I n c . A l l r i g h t s r e s e r v e d . |
Summary of Financial Results by Segments <4>: JERA
Ordinary income increased by 208.5 billion yen compared with 2022/2Q, mainly due to time lag impact becoming gain instead of loss
[Reference] Ordinary income excluding time lag: Approx. 28.0 billion yen (decreased by approx. 82.0 billion yen compared with 2022/2Q )
2,500
50.
200,00.0
150,50.0
100,00.0
5050.0
0
△(50500.0)
△(101,0.000)
7
Deterioration in | ||
earnings by | ||
fluctuations in coal | ||
prices | Decrease in | |
-58.1 | ||
income of | ||
JERA GM | ||
-21.2 | Others | |
Time lag Income | -2.3 | |
290.0 |
(-182.0 →108.0)
2022/2Q Ordinary Loss
A decrease in ordinary
-72.1income excluding time lag (approx. -82.0)
approx.
110.0
Excluding
Time lag
(Billion yen)
136.3
2023/2Q Ordinary Income
approx.
28.0
Excluding
Time lag
2023/2Q | 2022/2Q | Change | |
(A) | (B) | (A-B) | |
CIF price: crude oil | 83.5 | 111.9 | (28.4) |
($/b) | |||
FX rate (interbank) | 141.0 | 134.0 | 7.0 |
(yen/$) | |||
*CIF crude oil price for 2023/2Q is tentative.
[Reference] JERA consolidated net income (loss)
(Billion yen) | |||
2023/2Q | 2022/2Q | Change | |
(A) | (B) | (A-B) | |
Net income (loss) | 2,912 | (131.5) | 422.8 |
<> | <> | <(approx. | |
time lag> | 75.0> | 231.0> | 156.0)> |
C o p y r i g h t © C h u b u E l e c t r i c P o we r C o . , I n c . A l l r i g h t s r e s e r v e d .
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Chubu Electric Power Co. Inc. published this content on 27 October 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 27 October 2023 08:33:18 UTC.
