Company Name: Kyushu Electric Power Company Inc.
Name of Representative: Kazuhiro Ikebe
President & Chief Executive Officer
(Code: 9508, First Section, Tokyo SE, Fukuoka SE)
Contact: Investor Relations Group, Corporate Strategy Division
(Phone: +81-92-726-1575)
Revision of Financial Results Forecast for FY2021
We hereby announce that we have revised our financial results forecast for FY2021 (announced on October 29, 2021).
As for the year-end dividends for the FY2021, there is no change to the previous forecast (¥20 per common share, annual: ¥40 per common share).
1 Revision of financial results forecast
Revision of consolidated financial results forecast for FY2021 (April 1, 2021– March 31, 2022)
| Sales | Operating income | Ordinary income |
Profit attributable to owners of parent |
EPS | ||
| (Unit: billion yen) | (Unit: billion yen) | (Unit: billion yen) | (Unit: billion yen) | (Unit: yen) | ||
|
Forecast previously announced |
(A) | 1,640.000 | 100.000 | 70.000 | 45.000 | 90.69 |
| Revised forecast | (B) | 1,700.000 | 70.000 | 50.000 | 25.000 | 48.41 |
| Difference | (B-A) | 60.000 | -30.000 | -20.000 | -20.000 | － |
| Ratio | (%) | 3.7 | -30.0 | -28.6 | -44.4 | － |
|
(Reference) Results for FY2020 |
1,521.977 | 76.894 | 55.179 | 31.835 | 62.86 | |
2 Reasons for revision
In terms of the Forecast of Financial Results for FY2021, there is a change to the previous forecast (announced on October 29, 2021) in light of the latest supply-demand trends.
In Japanese electric power businesses, consolidated sales are expected to be approximately ¥1,700 billion, exceeding the previously announced forecast. The increase in sales is caused by the following factors: an increase in the total amount of electricity sales volume and a rise in the unit price of electricity because of the fuel cost adjustment system.
In Japanese electric power businesses, ordinary Income is expected to be approximately ¥50 billion, falling below the previous forecast, despite the increase in the total amount of electricity sales volume. The decrease in ordinary income is caused by the following factors: the increase in purchased power costs due to the rise in fuel prices and power prices on Japan's wholesale trading market, as well as the expansion of the loss on the time lag of fuel cost adjustments behind the actual higher fuel prices.
Net income attributable to owners of the parent is expected to be approximately ¥25 billion, falling below the previous forecast. The decrease in net income attributable to owners of the parent is caused by the above effects and the impact of the loss on return of electric imbalance charge which is recorded as an extraordinary loss.
(Reference: Key Factor)
| Revised | Previously announced | Difference | ||
| Retail electricity sales volume | 78.9 billion kWh | 78.8 billion kWh | 0.1 billion kWh* | |
| Wholesale electricity sales volume | 17.1 billion kWh | 16.1 billion kWh | 1 billion kWh | |
| Total electricity Sales Volume | 96.0 billion kWh | 94.9 billion kWh | 1.1 billion kWh | |
| Crude Oil CIF Price | 74 $/b | 71 $/b | 3 $/b | |
| Exchange Rate | 112 ¥/$ | 110 ¥/$ | 2 ¥/$ | |
|
Nuclear Power [Transmission-end] (Capacity factor of nuclear power plants) |
31.8 billion kWh |
31.8 billion kWh |
－ |
|
| (91.3%) | (91.2%) | (0.1%) | ||
Note: Electricity sales volume represents our company and consolidated subsidiaries (Kyushu Electric Power Transmission and Distribution Company Inc. and Kyuden Mirai Energy Company Inc.) (internal transactions have been eliminated).
* The impact of COVID-19 is around +0.5 billion kWh. (-0.5 ← -1.0)
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 FY2021
