Shikoku Electric Power Incorporated : Announcement of FY2022 Financial Results

FY2022 Financial Results Outline

(April 1, 2022 - March 31, 2023)

April 27, 2023

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Contents

Overview of Consolidated Financial Results		1
		Supplemental Material for FY2022
Ⅰ．Consolidated Financial Results for FY2022			 Retail Sales Power Share of Power Producer and Supplier [PPS]	16
					(Extra High, High, Low Voltage)
	 Summary of Financial Results	2	 Changes in the Number of Electrified Housing Contracts	18
	 Electricity Sales	3		(Cumulative：Shikoku Area)
	 Electricity Supplied	5		Consumption of Fossil Fuels	19
	 Details of Consolidated Financial Results	6		Flow Rate, Financial Sensitivity for Key Factors	20
	 Results by Segment	9		Time Lag Effect of Fuel Cost Adjustment System, etc.	21
	 Cash Flows	10		Plant and Equipment Expenditures (Consolidated)	22
	 Financial Position	11
	 Dividends	13
Ⅱ．Forecasts of Consolidated Financial Results &		14
Dividends for FY2023

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1

Overview of Consolidated Financial Results

• Financial Results for FY 2022】
• Operating revenues increased by ¥ 191.3 billion YoY, to ¥ 833.2 billion. The main factors were as follows;
• The revenues based on the Fuel Cost Adjustment System and from wholesale increased.
• Operating expenses increased by ¥ 190.0 billion YoY, to ¥ 845.4 billion. The main factors were as follows;.
• The cost decreased due to the operation of Ikata unit No.3.
• The fuel and power purchase cost increased significantly due to a rise in the fuel price.
• As a result,
• Operating profit (loss) increased by ¥ 1.3 billion YoY, to loss of ¥ 12.2 billion.
• Ordinary profit(loss) decreased by ¥ 10.4 billion YoY, to loss of ¥ 22.5 billion, mainly due to the posting of losses on investments in international businesses as non-operating expenses.
• Profit attributable to owners of parent decreased by ¥ 16.7 billion YoY, to loss of ¥ 22.9 billion.
• Forecasts of Financial Results for FY 2023 】
• The forecasts of consolidated financial results for FY 2023 is undecided due to the difficulty in foreseeing the timing of approval to regulated electricity rates hike.
• Dividends】
• The total annual dividend will be ¥ 0 per share due to the large amount of losses incurred from the impact of fuel price hikes and other factors.
• The annual dividend for FY2023 is undecided for the same reason as the consolidated financial results.

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2

Ⅰ．Consolidated Financial Results for FY2022 (April 1, 2022 -March31, 2023)

Summary of Financial Results (Refer to page 6 to 9 for details)

(100 million yen)

	FY2022	FY2021	(c)=(a)-(b)	(c)/(b)
	(a)	(b)
Operating Revenues	8,332	6,419	1,913	29.8%
Operating Expenses	8,454	6,554	1,900	29.0%
Operating Profit (Loss)	(122)	(135)	13	-
Non-Operating Profit (Loss)	(102)	14	(116)
Ordinary Profit (Loss)	(225)	(121)	(104)	-
Reversal of reserve for water shortage	(8)	(65)	57
Extraordinary Losses	-	15	(15)
Profit (Loss) before Income Taxes	(216)	(70)	(146)	-
Income Taxes, etc.	13	(8)	21
Profit (Loss) attributable	(229)	(62)	(167)	-
to owners of parent

(Note) Ordinary Profit is income before reserve for water shortage and income taxes, etc.

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Electricity Sales (1)	3

Retail

Lighting

Power

Wholesale

Total

FY2022 (a)

23,413 7,686 15,727 9,312 32,725

FY2021 (b)

22,565 8,035 14,530 9,110 31,675

(million kWh) (c)=(a)-(b)

848 (349) 1,197 202 1,050

(c)/(b)

3.8 % (4.3)% 8.2 % 2.2 % 3.3 %

Details ・Increase in sales due to increase in contract demand, etc.

・Wholesale in Japan Electric Power Exchange (JEPX) increased, etc.

(Note) The imbalances (the differences between the demand planned in advance by the electricity suppliers and the actual demand) which have not been confirmed as of the settlement day are not to be included.

Average Temperatures in Prefectural Capitals in Shikoku

					(℃)
	Jun	Jul	Aug	Sep	4-month AVG.
FY2022	23.9	27.9	29.2	26.2	26.8
Differences from the average year	0.8	0.8	1.1	1.4	1.0
Differences from the previous year	0.6	0.7	1.7	1.1	1.0
					(℃)
	Dec	Jan	Feb	Mar	4-month AVG.
FY2022	7.4	6.6	7.4	12.9	8.6
Differences from the average year	▲ 1.2	0.3	0.4	2.8	0.6
Differences from the previous year	▲ 1.4	0.6	1.8	1.1	0.5

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