INPEX CORPORATION May 11, 2022
Announcement of Revision of Consolidated Financial Forecasts for the Six Months Ending June 30, 2022 and Fiscal Year Ending
December 31, 2022
Tokyo, Japan - INPEX CORPORATION (INPEX) announced today the revision of its consolidated financial forecasts for the six months ending June 30, 2022 and for the fiscal year ending December 31, 2022 announced on February 9, 2022.
1. Revision of consolidated financial forecasts for the six months ending June 30, 2022 (From January 1, 2022 to June 30, 2022)
Net sales | Operating income | Ordinary income | Net income attributable to owners of parent | Net income per share | |
Previous forecasts (February 9, 2022): A | Millions of yen 820,000 | Millions of yen 394,000 | Millions of yen 466,000 | Millions of yen 150,000 | Yen 108.18 |
Revised forecasts: B | 1,019,000 | 535,000 | 613,000 | 200,000 | 144.25 |
Increase (decrease): B-A | 199,000 | 141,000 | 147,000 | 50,000 | |
Percentage (%) change | 24.3 | 35.8 | 31.5 | 33.3 | |
Reference: Consolidated financial results for the six months ended June 30, 2021 | 498,397 | 223,673 | 219,845 | 51,982 | 35.60 |
2. Revision of consolidated financial forecasts for the year ending December 31, 2022 (January 1, 2022 -December 31, 2022)
Net sales | Operating income | Ordinary income | Net income attributable to owners of parent | Net income per share | |
Previous forecasts (February 9, 2022): A | Millions of yen 1,541,000 | Millions of yen 716,000 | Millions of yen 824,000 | Millions of yen 250,000 | Yen 180.31 |
Revised forecasts: B | 1,851,000 | 924,000 | 1,042,000 | 300,000 | 216.37 |
Increase (decrease): B-A | 310,000 | 208,000 | 218,000 | 50,000 | |
Percentage (%) change | 20.1 | 29.1 | 26.5 | 20.0 | |
Reference: Consolidated financial results for the year ended December 31, 2021 | 1,244,369 | 590,657 | 657,627 | 223,048 | 153.87 |
3. Reasons for the revisions
Crude oil and natural gas production operations largely progressed steadily, and INPEX revised its consolidated financial forecasts for the six months ending June 30, 2022 and for the fiscal year ending December 31, 2022 due to factors including the upturn in crude oil prices in the first quarter and the revision of its crude oil price assumptions for the year1 as well as the depreciation of the Japanese yen against the US dollar.
1 Crude oil price and exchange rate assumptions
Previous Forecasts (February 9, 2022) | Revised Forecasts (May 11, 2022) | |
Crude oil price (Brent) |
US$ 70.0/bbl ・3rd quarter ・US$ 75.0/bbl ・4th quarter Full Year: ・US$ 65.0/bbl US$ 75.0/bbl |
US$ 75.0/bbl ・3rd quarter ・US$ 80.0/bbl ・4th quarter Full Year: ・US$ 70.0/bbl US$ 85.0/bbl |
Exchange rate | 1st Half: ¥110.0/US$ 2nd Half: ¥110.0/US$ Full Year: ¥110.0/US$ | 1st Half: ¥120.0/US$ 2nd Half: ¥120.0/US$ Full Year: ¥120.0/US$ |
NB: Forecasts above are based on information that is currently available and reflect uncertainties. Actual results may differ from the forecasts due to changes in business conditions including oil and natural gas prices, production and sales plans, project development schedules, government regulations and financial and tax schemes, etc.
Based on the shareholder return policy outlined in INPEX Vision@2022, INPEX will, in principle, maintain stable dividend payouts during the period covered by the medium-term business plan from fiscal year 2022 to fiscal year 2024 with a total payout ratio of around 40 percent or greater, and a minimum annual dividend per share of 30 yen. During this period, INPEX will also strive to strengthen shareholder returns through means including share buybacks based on the company's business environment, financial base and management conditions, etc.
The annual dividend forecast amounts for the year ending December 31, 2022 remains unchanged as of now at 27 yen per common stock for the interim dividend and 27 yen per common stock for the year-end dividend. INPEX will determine its shareholder returns for this fiscal year based on the above shareholder return policy after assessing its year-end forecasts etc. in the second quarter of the fiscal year ending December 2022.
Media Contact: INPEX Tokyo Office, Public Relations Group, Tel) +81-3-5572-0233
Attachments
- Original Link
- Original Document
- Permalink
Disclaimer
Inpex Corporation published this content on 11 May 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 11 May 2022 06:11:05 UTC.
