Revision of Financial Results and Dividends Forecast for FY2019
We hereby announce that we have revised our financial results forecast and dividends forecast for FY2019 (announced on July 31, 2019).
1 Revision of financial results forecast
Revision of consolidated financial results forecast for FY2019 (April 1, 2019 – March 31, 2020)
| Sales |
Operating income |
Ordinary income |
Profit attributable to owners of parent |
EPS | |||
|
(Unit: million yen) 2,085,000 |
(Unit: million yen) 105,000 |
(Unit: million yen) 80,000 |
(Unit: million yen) 55,000 |
(Unit: yen) 112.90 |
||
|
2,035,000 | 80,000 | 55,000 | 30,000 | 58.26 | ||
|
- 50,000 | - 25,000 | - 25,000 | - 25,000 | |||
|
- 2.4 | - 23.8 | - 31.3 | - 45.5 | |||
|
(Reference) Results for FY2018 |
2,017,181 | 86,575 | 52,544 | 30,970 | 58.05 |
Revision of non-consolidated financial results forecast for FY2019 (April 1, 2019 – March 31, 2020)
| Sales |
Operating income |
Ordinary income |
Profit attributable to owners of parent |
EPS | |||
|
(Unit: million yen) 1,915,000 |
(Unit: million yen) 75,000 |
(Unit: million yen) 50,000 |
(Unit: million yen) 35,000 |
(Unit: yen) 70.57 |
||
|
1,850,000 | 50,000 | 25,000 | 10,000 | 15.97 | ||
|
- 65,000 | - 25,000 | - 25,000 | - 25,000 | |||
|
- 3.4 | -33.3 | - 50.0 | - 71.4 | |||
|
(Reference) Results for FY2018 |
1,867,152 | 60,656 | 32,534 | 23,425 | 42.08 |
Reasons for revision
Based on our recent performance, we have revised the consolidated financial results forecast, which was announced on July 31, 2019.
Sales forecast has been revised downward from the initial forecast, because of a decrease in sales of power to other suppliers due to low market prices in the domestic electric power business. The revised forecast is 2,035 billion yen.
Despite making group-wide efforts to reduce costs, ordinary income has been revised downward, because of a decrease in sales and of a loss in reselling surplus LNG as market prices significantly dropped in the domestic electric power business. The revised forecast is 55 billion yen.
The revised forecast of profit attributable to owners of parent is 30 billion yen, which is lower than previously announced.
Sales and ordinary income have been revised for the non-consolidated forecasts for FY2019, as well as the consolidated forecasts.
(Reference: Key Factor)
| Revised | Previously announced | |
|
Total Electricity Sales Volume of Kyuden Group |
75.3 billion kWh | 74.7 billion kWh |
| Crude Oil CIF Price | 67$/b | 70$/b |
| Exchange Rate | 109¥/$ | 110¥/$ |
|
Nuclear Power [Transmission-end] (Utilization Rate of Nuclear Power) |
28.6 billion kWh (81.7%) |
27.3 billion kWh (78.1%) |
|
Electricity Sales Volume [Non-Consolidated] |
72.7 billion kWh | 73.4 billion kWh |
| Note: | Total electricity sales volume of Kyuden Group represent sales volume of Kyushu Electric Power and a consolidated subsidiary (Kyuden Mirai Energy Company, Inc.) |
2 Revision of dividends forecast
Revision of dividends forecast for FY2019 (April 1, 2019 – March 31, 2020)
| Dividends per share | |||
| Interim | Year-end | Total | |
|
Forecast previously announced |
¥20.00 | ¥20.00 | ¥40.00 |
| Revised forecast | - | ¥15.00 | ¥35.00 |
| Results for FY2019 | ¥20.00 | ||
| Results for FY2018 | ¥15.00 | ¥15.00 | ¥30.00 |
・Class A preferred shares
There is no revision of dividend forecast for Class A preferred shares.
Reasons for revision
As for the dividends, our basic policy is to maintain stable dividend payments, based on comprehensive analysis of operating forecasts and medium to long-term balance situation, and financial and other factors.
Year-end dividends have been revised downward to 15yen/share (total 35yen/share) from 20yen/share (total 40yen/share) based on revisions of our financial forecast.
| Note: | The forward-looking statements are based on information available as of the date hereof. Actual results could differ due to numerous factors. |
Revision of Financial Results and Dividends Forecast for FY2019
