THE CHUGOKU ELECTRIC POWER CO., INC. Supporting document of
FY2024-2Q financial results
The Summary of
Financial Results for FY2024-2Q
(April 1 through September 30, 2023)
The Chugoku Electric Power Co., Inc.
October 31, 2023
In this report, the term Fiscal Year 2024 refers to the period between April 1, 2023 and March 31, 2024.
Contents
Ⅰ . FY2024 2nd Quarter Financial Results
Ⅱ. Forecasts of Financial Results for FY2024 Dividends
(Reference) Key Points and Initiatives of
Chugoku Electric Power Group
(Reference) Appendix
Ⅰ . FY2024 2nd Quarter Financial Results
1-1. Financial Results Summary | 1 |
- Operating revenues were 841.5 billion yen, an increase of 91.7 billion yen from the same period of the previous fiscal year, mainly because of the revision of electricity rates, etc.
- Operating income was 165.0 billion yen, an increase of 238.2 billion yen from the same period of the previous fiscal year, mainly because of an improvement of the time lag of the fuel cost adjustment system as a result of lower fuel prices.
- Ordinary income including non-operating income and expenses such as interest expense was an increase of 161.9 billion yen, an increase of 230.4 billion yen from the same period of the previous fiscal year.
- As a result of applying the provision for drought and deducting income taxes, the quarterly loss attributable to owners of the parent was 123.0 billion yen, an increase of 179.0 billion yen from the same period of the previous fiscal year.
1-2. Financial Results Summary | 2 |
(billion yen) | ||||
FY2024-2Q | FY2023-2Q | Difference | Rate of change | |
(A) | (B) | (A-B) | (A/B-1) | |
Operating revenues | 841.5 | 749.7 | 91.7 | 12.2% |
Operating income | 165.0 | -73.1 | 238.2 | - |
Ordinary income | 161.9 | -68.5 | 230.4 | - |
Profit attributable to | 123.0 | -56.0 | 179.0 | - |
owners of the parent | ||||
2. Income Statement | 3 |
(billion yen) | ||||
FY2024-2Q | FY2023-2Q | Difference | ||
(A) | (B) | (A-B) | ||
Ordinary revenues | 855.1 | 768.3 | 86.7 | |
Operating revenues | 841.5 | 749.7 | 91.7 | |
Other revenues | 13.5 | 18.5 | -5.0 | |
Ordinary expenses | 693.1 | 836.8 | -143.7 | |
Operating expenses | 676.4 | 822.9 | -146.4 | |
Other expenses | 16.6 | 13.9 | 2.7 | |
Operating income | 165.0 | -73.1 | 238.2 | |
Ordinary income | 161.9 | -68.5 | 230.4 | |
Provision for drought | 0.0 | -0.4 | 0.5 | |
Extraordinary loss | - | 8.6 | -8.6 | |
Income taxes, etc. | 38.8 | -20.7 | 59.5 | |
Profit attributable to | 123.0 | -56.0 | 179.0 | |
owners of the parent | ||||
3. Factors for Change in Ordinary Income 4
FY
2023 Consolidated ordinary income +230.4 billion yen
2Q
FY
2024
2Q
（billion yen）
200
160
120
80 | |
40 | |
0 | |
-40 | -68.5 |
-80 |
Time lag of the fuel | ||||||
cost adjustment | Others | |||||
system | 15.4 | -34.3 | ||||
Impact of decrease | ||||||
in market price * | ||||||
Increase of | ||||||
depreciation -8.1etc. | ||||||
198.0 | ||||||
Revision of
electricity rates
51.3
161.9 |
Note: This Includes the impact of decrease in avoidable costs of Feed-in Tariff Scheme for Renewable Energy.
4. Total Electricity Sales | 5 |
- Total electricity sales were 26.02 billion kWh, a decrease of 4.5% in comparison with the same period of the previous fiscal year.
- Retail electricity sales were 21.87 billion kWh, a decrease of 2.7% in comparison with the same period of the previous fiscal year.
- Electricity sales to other power companies were 4.15 billion kWh, a decrease of 13.2% in comparison with the same period of the previous fiscal year.
(billion kWh)
FY2024-2Q | FY2023-2Q | Difference | Rate of | |||
change | ||||||
(A) | (B) | (A-B) | ||||
(A/B-1) | ||||||
Total sales | 26.02 | 27.26 | -1.23 | -4.5% | ||
Lighting | 6.75 | 7.07 | -0.32 | -4.5% | ||
Retail | ||||||
Power | 15.12 | 15.40 | -0.28 | -1.8% | ||
sales | ||||||
Subtotal | 21.87 | 22.47 | -0.60 | -2.7% | ||
Sales to | other | 4.15 | 4.79 | -0.63 | -13.2% | |
power companies | ||||||
Note1: This is the total electricity sales of Chugoku Electric Power.
Note2: This does not include the amount of electricity sales for in-house and the amount of electricity sales to other companies for imbalance/adjusted power supply, etc.
5. Generated and Received Electricity | 6 |
- Total of generated and received electricity was 28.02 billion kWh, a decrease of 3.3% in comparison with the same period of the previous fiscal year.
- Hydroelectric power of own facilities were 1.97 billion kWh, an increase of 11.7% in comparison with the same period of the previous fiscal year.
- Thermal power of own facilities and power purchased decreased due to a decrease in total electricity sales, etc.
(billion kWh) | ||||||
FY2024-2Q | FY2023-2Q | Difference | Rate of | |||
change | ||||||
(A) | (B) | (A-B) | ||||
(A/B-1) | ||||||
Total | 28.02 | 28.97 | -0.94 | -3.3% | ||
Subtotal | 15.52 | 15.33 | 0.19 | 1.2% | ||
(Water Flow Rate) | (100.7%) | (73.9%) | (26.8%) | |||
Own | Hydroelectric | 1.97 | 1.77 | 0.21 | 11.7% | |
Thermal | 13.53 | 13.56 | -0.03 | -0.3% | ||
facilities | ||||||
(Utilization Rate) | （ - ） | （ - ） | （ - ） | |||
Nuclear | - | - | - | - | ||
New energy sources | 0.02 | 0.01 | 0.02 | 250.4% | ||
Power purchased | 13.10 | 14.56 | -1.46 | -10.0% | ||
Pumping use | -0.60 | -0.93 | 0.33 | -35.3% | ||
Note1: This is the total of generated and received electricity of Chugoku Electric Power.
Note2: Power purchased includes the amount of electricity related to imbalance/adjusted power supply.
6. Segment Information | 7 |
- For the Comprehensive Energy Business, operating revenues increased because of the revision of electricity rates, etc. Operating income increased because of an improvement of the time lag of the fuel cost adjustment system as a result of lower fuel prices.
- In the Power Transmission and Distribution Business, operating income increased because of an increase in revenue of standard wheeling service and a decrease in expenses related to supply and demand adjustments.
(billion yen) | ||||
FY2024-2Q | FY2023-2Q | Difference | ||
(A) | (B) | (A-B) | ||
Comprehensive Energy | Operating revenues | 793.6 | 706.3 | 87.2 |
Business | Operating income | 133.6 | -70.4 | 204.1 |
Power Transmission and | Operating revenues | 235.9 | 285.7 | -49.7 |
Distribution Business | Operating income | 28.5 | -4.8 | 33.3 |
Information and | Operating revenues | 21.8 | 21.4 | 0.3 |
Telecommunications Business | Operating income | 2.3 | 2.2 | 0.1 |
Others | Operating revenues | 48.4 | 44.5 | 3.9 |
Operating income | 1.3 | 0.5 | 0.8 | |
Amount of Adjustment | Operating revenues | (-258.2) | (-308.2) | (49.9) |
Operating income | (-0.8) | (-0.6) | (-0.2) | |
Total | Operating revenues | 841.5 | 749.7 | 91.7 |
Operating income | 165.0 | -73.1 | 238.2 | |
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Disclaimer
The Chugoku Electric Power Co. Inc. published this content on 31 October 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 31 October 2023 06:24:10 UTC.
