Cosmo Energy : Notice regarding the Amendment to the Consolidated Forecast for the Fiscal Year Ending March 31, 2021 (PDF/123K)
November 12, 2020 at 02:15 am EST
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November 12, 2020
To whom it may concern
Name of the Company:
Cosmo Energy Holdings Co., Ltd.
Name of Representative:
Hiroshi Kiriyama, President
(Company Code: 5021 Shares Traded: TSE First section)
Name of Contact Person:
Eeriko Date, General Manager of Corporate Communication Dept.
Phone: 03-3798-3180
Notice regarding the Amendment to the Consolidated Forecast for the Fiscal Year Ending March 31, 2021
Amendments have been made to the consolidated forecast for the fiscal year ending March 31, 2021 as follows:
●Amendments to the consolidated forecast for the fiscal year ending March 31, 2021
(Unit: million yen)
Operating
Ordinary
Profit attributable
Net income
Net sales
to owners of
profit
profit
per share
parent
Forecast previously announced (A)
2,040,000
34,500
30,000
14,500
yen sen
(on May 21, 2020)
172.53
Revised forecast (B)
2,170,000
31,000
27,000
8,500
101.44
Change (B-A)
130,000
-3,500
-3,000
-6,000
-594.85
Change (%)
6.4%
-10.1%
-10.0%
-41.4%
(Reference)Last year results
2,738,003
13,893
16,285
-28,155
-334.84
(Ending March. 31, 2020)
●Reason for the amendment
The consolidated business forecast for the full year of FY2020 is revised to be projected at operating profit of ¥31 billion (down ¥3.5 billion yen from the previous announcement),ordinary profit of ¥27 billion (down ¥3 billion yen from the previous announcement) and profit attributable to owners of parent of ¥8.5 billion (down ¥6 billion yen from the previous announcement) .
This amendment is projected in E&P business to increase sales and profit due to the raised crude oil price. On the other hand, in petroleum business, the demand of fuels has been recovered earlier than our expectation but it is projected to increase sales and decrease profit due to the impact of inventory evaluation. Petrochemical business is expected to decrease sales and profit due to the decline of product market
This business forecast is based on the assumptions of crude oil price at US$38 /bbl and exchange rate at JPY106 /US$. (Assumptions at the previous forecast: crude oil price US$29/bbl, exchange rate JPY105/US$)
There is no change of the annual dividend forecast at JPY 80 per share from the previous announcement.
(Note) The above business forecast is based on information available as of the date published this release and actual results may materially differ from the forecast subject to variable factors that may arise in the future.
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Cosmo Energy Holdings Co. Ltd. published this content on 12 November 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 12 November 2020 07:14:01 UTC
Cosmo Energy Holdings Co Ltd is a Japan-based company mainly engaged in the development, import, refining, storage and sale of crude oil. The Company operates in three business segments. The Petroleum segment is engaged in the production and sale of volatile oil, naphtha, kerosene, light oil, heavy oil, crude oil, lubricating oil and liquefied petroleum gas. The Petrochemical segment is engaged in the production and sale of petrochemical products such as ethylene, mixed xylene, paraxylene, benzene, toluene, and petrochemical solvents. The Oil Development segment is engaged in the development, production and sale of crude oil. The other business includes construction business, insurance agency business, leasing business, travel business, wind power generation business, real estate sales business, accounting, finance, purchasing, general affairs and human resources-related business.