Okinawa Electric Power Incorporated : Summary of the Settlement of Accounts for FY2023 1st Quarter
July 28, 2023 at 12:02 pm IST
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Summary of the Settlement of Accounts for FY2023 1st Quarter
(April 1 - June 30, 2023)
July 28, 2023
The Okinawa Electric Power Company, Inc.
The Okinawa Electric
Power Company, Inc.
Table of contents
Financial
Financial Results for FY2023 1Q YTD (Year-on-Year Comparison)
2
Trends in Electricity Sales Volume
3
Results
Non-consolidated - Factors in Revenue and Expenditure Changes
4
for FY2023
Non-consolidated - Trends in Data and Effects of Changes
5
Consolidated - Factors in Revenue and Expenditure Changes
6
1Q YTD
Financial Results of each Company
7
Balance Sheet Comparison
8
Financial
Outlook
for FY2023
Annual Outlook Summary
9
Reference
Trends in Financial Indicators (Non-consolidated)
10
Trends in Financial Indicators (Consolidated)
11
1
The Okinawa Electric
Power Company, Inc.
Financial Results for FY2023 1Q YTD
(Year-on-Year Comparison)
(Unit: million yen, X)
Consolidated (A)
Non-consolidated (B)
(A) / (B)
FY2022
FY2023
Rate of
FY2022
FY2023
Rate of
FY2022
FY2023
1Q YTD
1Q YTD
1Q YTD
1Q YTD
1Q YTD
1Q YTD
Change
Change
(Results)
(Results)
(Results)
(Results)
(Results)
(Results)
Sales
48,452
53,778
+11.0%
46,757
51,502
+10.1%
1.04
1.04
Operating
-9,349
-5,405
-
-9,280
-5,813
-
-
-
income
Ordinary
-9,344
-5,528
-
-9,045
-5,631
-
-
-
income
Net income
*
*
-
-6,596
-5,632
-
-
-
-6,899
-5,701
* Net income attributable to owners of parent.
【Revenue】
Increase in income from the price revision in Electric business.
【Expenditure】
Increase in Repair and maintenance costs and Fuel costs in Electric business.
2
The Okinawa Electric
Power Company, Inc.
Trends in Electricity Sales Volume
Electricity Sales Volume
(Unit: million kWh, %)
FY2022
FY2023
Rate of
1Q YTD
1Q YTD
Change
Change
(Results)
(Results)
Lighting
624
589
-35
-5.7
Power
980
981
+1
+0.2
Total
1,604
1,570
-34
-2.1
Power Generated and Received
(Unit: million kWh)
The demand for Lighting decreased compared with Year-on- Year due to the impact of customer switching to other suppliers and the lower temperature in late April compared with previous year.
The demand for Power remained almost unchanged from the previous year due to increase by recovery from the impact of the novel coronavirus, despite decrease in demand from the steel industry.
FY2022 1Q YTD
FY2023 1Q YTD
Rate of
Electricity
Com-
Electricity
Com-
Change
• Power generated and received was 1,755 million kWh, down
change
generated
position
generated
position
2.4%. *
ratio
ratio
• Electricity generated of OEPC's Coal-fired thermal power was
Coal
704
39.1%
623
35.6%
-81
-11.5%
down 11.5%. *
OEPC
Oil
197
11.0%
255
14.5%
+58
+29.4%
29.4%. *
LNG
517
28.7%
399
22.7%
-118
-22.8%
• Electricity generated of OEPC's Oil-fired thermal power was up
• Electricity generated of OEPC's LNG-fired thermal power was
Total
1,418
78.8%
1,277
72.8%
-141
-9.9%
down 22.8%. *
Other
381
21.2%
478
27.2%
+97
+25.5%
*Comparison with the same period of the previous year.
Total
1,799
100.0%
1,755
100.0%
-44
-2.4%
3
The Okinawa Electric
Power Company, Inc.
Non-consolidated
- Factors in Revenue and Expenditure Changes
(Unit: million yen)
FY2022
FY2023
Change
Main factors in changes
1Q YTD
1Q YTD
(Results)
(Results)
Ordinary
Electricity sales
38,617
38,349
-268
Increased unit price +9,533(Impact of Electricity price revision)
Electricity sales volume -788
Fuel cost adjustment system -9,012 (Discount from the
government's program of electricity price sharp fluctuation mitigation
-6,175)
revenues
Other income
8,639
13,775
+5,136
Other electricity revenue +6,273(Subsidies from the government's program of electricity
price sharp fluctuation mitigation
+6,175)
(Sales)
(46,757)
(51,502)
(+4,745)
Total
47,256
52,125
+4,868
Personnel costs
4,405
4,116
-288
Salary and benefits -299
Fuel costs
22,590
23,167
+576
Unit price +2,990 (Initial inventories +6,627 Exchange rate +2,162
CIF -5,799)
Quantity -2,741
Ordinary
Repair and maintenance costs
4,754
5,624
+870
Thermal +553 Internal combustion +203
Depreciation costs
4,536
4,883
+346
Thermal +2,143
Thermal +225 Transmission +49
expenses
Purchased power costs
12,989
12,280
-708
Electric power development promotion tax -22
Tax and other public charges
1,792
1,770
-21
Grant under Act on Purchase of Renewable Energy Sourced Electricity deduction -2,476
Interest expenses
211
399
+188
Average rate +111 Average balance +76
Other expenses
5,022
5,513
+490
Gas supply business expenses +245 Non-current assets retirement costs +154
(Operating expenses)
(56,038)
(57,316)
(+1,278)
Total
56,302
57,756
+1,454
(Operating income)
(-9,280)
(-5,813)
(+3,466)
Ordinary income
-9,045
-5,631
+3,413
Income before income taxes
-9,045
-5,631
+3,413
Income taxes
-2,448
0
+2,449
Net income
-6,596
-5,632
+964
4
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Okinawa Electric Power Co. Inc. published this content on 28 July 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 28 July 2023 06:31:03 UTC.
The Okinawa Electric Power Company, Incorporated is a Japan-based company mainly engaged in electricity business. The Company mainly engaged in power supply, general power transmission and distribution, and retail electricity business in Okinawa. It is also engaged in the construction of civil engineering, construction, electricity, pipe and telecommunications business, the construction and maintenance of electric power equipment, environmental and geological surveys, the sale and construction of air conditioning equipment, sanitary equipment and electric water heaters, the leasing of vehicle and article, non-life insurance agency, the design, construction, operation and sale of computer systems, the sale and leasing of computers and peripheral equipment, the management, sale and leasing of land and buildings, aquaculture, wind power generation, the sale of natural gas, the installation of private power generation systems.