FY2023 2nd Quarter
Financial Results
Oct 31, 2023(Tue)
Contents
Ⅰ . Outline of Financial Results for FY2023 2nd Quarter
・Electricity Sales | ……02 |
・Generated Power | ……03 |
・Summary of Consolidated Financial Results | ……04 |
・Financial Forecast and Dividend Forecast for FY2023 | ……07 |
・Summary of Financial Results by Segment | ……08 |
・Consolidated Balance Sheet (Summary) | ……09 |
・Consolidated Statement of Cash Flow (Summary) | ……10 |
Ⅱ. Supplemental Material
(Reference) Key Factor, Consumption of Fossil Fuels and Capital Investment | ……12 |
(Reference) Time Lag Effect of Fuel Cost Adjustment System [Actual] | ……13 |
(Reference) Data related to Financial Results | ……14 |
Ⓒ Hokuriku Electric Power Company, All Rights Reserved.
Ⅰ . Outline of Financial Results for FY2023 2nd Quarter
Ⓒ Hokuriku Electric Power Company, All Rights Reserved. | 1 |
Electricity Sales
(Billion kWh,%)
FY23/2Q | FY22/2Q | Comparison | |||
(A) | (B) | (A)-(B) | (A)/(B) | ||
Retail | 11.89 | 12.97 | Δ1.08 | 91.7 | |
Lighting | 3.26 | 3.37 | Δ0.12 | 96.5 | |
Power | 8.64 | 9.60 | Δ0.96 | 90.0 | |
Wholesale | 1.82 | 3.38 | Δ1.57 | 53.7 | |
Total | 13.71 | 16.36 | Δ2.65 | 83.8 | |
- Main Factors 》
< Lighting >
・Decrease in time to be home due to the reclassification of COVID-19
・Decrease in contract demand
・Decrease in factory operations
・Decrease in trading at
JEPX
(Reference)Average monthly temperature in Hokuriku 3 cities | (℃) | |||
April | May | June | July | August September |
early | mid | late | average | ||||||||
Actual data | 13.1 | 14.9 | 13.8 | 13.9 | 18.4 | 22.8 | 27.9 | 30.5 | 26.3 | ||
Comparison with | +1.3 | +0.6 | Δ2.1 | Δ0.1 | 0.0 | Δ0.7 | +0.8 | +2.8 | +2.0 | ||
the previous year | |||||||||||
(Note)Hokuriku 3 Cities:Toyama City, Kanazawa City, Fukui City | |||||||||||
Ⓒ Hokuriku Electric Power Company, All | Rights | Reserved. | 2 |
Generated Power
《Hydro》
Decrease in water flow(Year-on-year)《Thermal》
Decrease in coal-fired thermal power generated
(Billion kWh,%) | ||||
FY23/2Q | FY22/2Q | Comparison | ||
(A) | (B) | (A)-(B) | (A)/(B) | |
[Flow rate] | [87.8] | [103.5] | [Δ 15.7] | |
Hydro | 3.33 | 3.73 | Δ0.40 | 89.3 |
Thermal | 8.33 | 10.54 | Δ2.20 | 79.1 |
Nuclear | - | - | - | - |
Renewable | 0.00 | 0.00 | Δ0.00 | 99.6 |
Total | 11.67 | 14.27 | Δ2.60 | 81.8 |
Ⓒ Hokuriku Electric Power Company, All Rights Reserved. | 3 |
Summary of Consolidated Financial Results
《Consolidated Financial Results》
・Ordinary income increased due to revisions to electricity rates and increase in fuel cost adjustment charges.
(Billion yen,%) | ||||||||
FY23/2Q | FY22/2Q | Comparison | ||||||
(A) | (B) | (A)-(B) | (A)/(B) | |||||
Sales | 407.9 | 374.9 | 32.9 | 108.8 | ||||
(Operating Revenue) | ||||||||
Consolidated | Ordinary Income | 70.0 | Δ 37.7 | 107.7 | ― | |||
Net Income Attributable | 51.1 | Δ 38.1 | 89.3 | ― | ||||
to Owners of Parent | ||||||||
《 Main Factor 》 | ||||||||
Currency rate | (Yen/$) | 141.1 | 134.0 | 7.0 | ||||
・Revisions to electricity rates | ||||||||
Key Factor | Crude Oil CIF prices[All Japan] | ($/b) | 83.5 | 111.9 | Δ 28.5 | |||
Coal CIF prices[All Japan] | ($/t) | 221.4 | 342.8 | Δ 121.5 | ||||
LNG CIF prices[All Japan] | ($/t) | 636.8 | 922.7 | Δ 285.8 | ||||
[reference] The number of consolidated subsidiaries︓29 affiliates and 10 equity method affiliates
Ⓒ Hokuriku Electric Power Company, All Rights Reserved. | 4 |
Changing Factor of Consolidated Sales
(Billion yen)
420
400
380
360
340
320
300
Revisions to | Approx. | ||||
electricity rates | |||||
10.0 | |||||
Decrease in | |||||
Revisions to | |||||
electricity sales | Approx. | transmission | |||
charges | |||||
Increase in fuel | 50.0 | ||||
Approx. | cost adjustment | ||||
charges | 407.9 | ||||
Δ50.0 | |||||
374.9 | Approx. | ||||
23.0 | |||||
FY22/2Q | FY23/2Q |
Ⓒ Hokuriku Electric Power Company, All Rights Reserved. | 5 |
Changing Factor of Consolidated Ordinary Income
(Billion yen)
80
60
40
20
0
- 20
- 40
- 60
- 80
- 100
Time lag effect of | |||||||||
fuel cost adjustment | |||||||||
Approx. | |||||||||
32.0 | |||||||||
(FY23/2Q) | |||||||||
70.0 | |||||||||
Approx. | |||||||||
Revisions to | 44.0 | ||||||||
transmission | |||||||||
charges | (FY22/2Q) | ||||||||
Revisions to | Approx. | ||||||||
Δ37.7 | hydro | electricity rates | 10.0 | ||||||
Decrease in | |||||||||
Decrease in | generated | Decrease in | |||||||
electricity sales | |||||||||
Approx. | Approx. | ||||||||
price of | |||||||||
Approx. | Progress on | ||||||||
50.0 | |||||||||
Δ4.0(FY23/2Q) | |||||||||
Δ16.0 | Increase in | reducing costs | electricity | ||||||
equipment-related | Approx. | purchased from | |||||||
expenses | JEPX | ||||||||
Approx. | Approx. | 5.0 | Approx. | ||||||
Δ6.0 | Δ12.0 | (FY23/2Q) | 2.0 | ||||||
Approx. | |||||||||
(FY22/2Q) | 3.0 | ||||||||
(FY23/1Q) | |||||||||
FY22/2Q | FY23/2Q |
Ⓒ Hokuriku Electric Power Company, All Rights Reserved. | 6 |
Financial Forecast and Dividend Forecast for FY2023
《Financial Forecast》
・Ordinary income and Net income revise upward to progress on reducing costs. 《Dividend forecast》
・We change the Year-end divided per share from "uncertain" to "7.5yen".
(Billion kWh, Billion yen,%) | ||
Previous | Comparison | |
FY23 | Forecast | |
Forecast(A) | (Announced on | |
July 28)(B) | (A)-(B) | |
Total sales of | 29.0 | 29.0 | ― | ||
Electricity Power | |||||
Sales | 840.0 | 840.0 | ― | ||
(Operating Revenue) | |||||
Consolidated | |||||
Ordinary Income | 40.0 | 25.0 | 15.0 | ||
Net Income Attributable | 30.0 | 20.0 | 10.0 | ||
to Owners of Parent | |||||
Interim dividend per share | 0yen | 0yen | |||
Year-end dividend per share | 7.5yen | uncertain | |||
Currency rate (Yen/$) | Approx. 145 | Approx. 143 | |||
Key Factor | Crude Oil CIF prices[All Japan] ($/b) | Approx. 90 | Approx. 90 | ||
Coal CIF prices[All Japan] ($/t) | Approx. 250 | Approx. 270 | |||
LNG CIF prices[All Japan] ($/t) | Approx. 720 | Approx. 750 |
FY22
Actual
32.7
817.6
- 93.7
- 88.4
0yen
0yen
135.5
102.7
358.0
930.5
Ⓒ Hokuriku Electric Power Company, All Rights Reserved. | 7 |
Summary of Financial Results by Segment
(Billion yen,%) | 《 Main Factors 》 | |||||
FY23/2Q | FY22/2Q | Comparison | ・Revisions to electricity rates | |||
(A) | (B) | (A)-(B) | (A)/(B) | |||
Sales | 407.9 | 374.9 | 32.9 | 108.8 | ・Decrease in sold power to | |
Electric power generation | 379.2 | 343.7 | 35.4 | 110.3 | ||
and sales business | other utilities and | |||||
Electric power transmission | 100.7 | 112.5 | Δ 11.8 | 89.5 | suppliers, etc. | |
and distribution business | ||||||
Others | 58.9 | 61.6 | Δ 2.6 | 95.6 | ||
Adjustment amount* | Δ 131.0 | Δ 143.0 | 12.0 | - | ||
Ordinary Income | 70.0 | Δ 37.7 | 107.7 | - | ||
・Revisions to electricity rates | ||||||
Electric power generation | 57.6 | Δ 33.7 | 91.3 | - | ||
and sales business | ||||||
・Decrease in | ||||||
Electric power transmission | 11.2 | Δ 2.1 | 13.3 | - | ||
and distribution business | purchased power | |||||
Others | 3.6 | 3.3 | 0.2 | 108.8 | ||
Adjustment amount* | Δ 2.5 | Δ 5.2 | 2.6 | - |
*:The elimination of internal transactions.
Ⓒ Hokuriku Electric Power Company, All Rights Reserved. | 8 |
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Hokuriku Electric Power Company 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 06:21:38 UTC.