Revision of Financial Results Forecast for FY2019
We hereby announce that we have revised our financial results forecast for FY2019 (announced on October 31, 2019).
As for the year-end dividends for the FY2019, there is no change to the previous forecast (¥15 per common share, annual: ¥35 per common share).
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) 2,035,000 |
(Unit: million yen) 80,000 |
(Unit: million yen) 55,000 |
(Unit: million yen) 30,000 |
(Unit: yen) 58.26 |
||
|
2,035,000 | 65,000 | 40,000 | 20,000 | 37.12 | ||
|
- | - 15,000 | - 15,000 | - 10,000 | |||
|
- | - 18.8 | - 27.3 | - 33.3 | |||
|
(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) 1,850,000 |
(Unit: million yen) 50,000 |
(Unit: million yen) 25,000 |
(Unit: million yen) 10,000 |
(Unit: yen) 15.97 |
||
|
1,850,000 | 35,000 | 10,000 | 0 | - 5.16 | ||
|
- | - 15,000 | - 15,000 | - 10,000 | |||
|
- | -30.0 | - 60.0 | - 100.0 | |||
|
(Reference) Results for FY2018 |
1,867,152 | 60,656 | 32,534 | 23,425 | 42.08 |
2 Reasons for revision
We have revised the forecast of the consolidated financial results for the fiscal year ending March 31, 2020 (as previously announced on October 31, 2019), as a result of recent aboveaverage temperatures and trends in business performance.
We forecast that Sales will be around ¥2,035 billion (the same as previously announced). This remains unchanged, mainly due to the increase in the grant based on the Act on Purchase of Renewable Energy Sourced Electricity, while retail electricity sales volume decreased and less power was sold to other suppliers as a result of low market prices in the domestic power business.
Ordinary income will decrease to around ¥40 billion. The decrease is due to an increase of losses in surplus LNG trading, in addition to a decline in electricity sales revenue and power sold to other suppliers in the domestic power business.
Net income attributable to owners of the parent will decrease to around ¥20 billion.
Financial results forecast has been revised for the non-consolidated forecasts for FY2019, as well as for the consolidated forecasts.
(Reference: Key Factor)
| Revised | Previously announced | Difference |
[Reference] FY2018 |
|||
| Retail electricity sales volume | 74.2 billion kWh | 75.3 billion kWh | -1.1 billion kWh | 72.7 billion kWh | ||
| Wholesale electricity sales volume | 7.7 billion kWh | 8.2 billion kWh | -0.5 billion kWh | 7.9 billion kWh | ||
| Total electricity Sales Volume | 81.9 billion kWh | 83.5 billion kWh | -1.6 billion kWh | 80.6 billion kWh | ||
| Crude Oil CIF Price | 68$/b | 67$/b | 1$/b | 72$/b | ||
| Exchange Rate | 109¥/$ | 109¥/$ | - | 111¥/$ | ||
|
Nuclear Power [Transmission-end] (Utilization Rate of Nuclear Power) |
28.6 billion kWh (81.8%) |
28.6 billion kWh (81.7%) |
- (0.1%) |
28.8 billion kWh (73.1%) |
||
| Note: | Electricity sales volume represents groupwide sales volume of Kyushu Electric Power and a consolidated subsidiary (Kyuden Mirai Energy Company, Inc.) |
| 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 Forecast for FY2019
