Osaka Gas Co ( (OSGSF) ) has released its Q2 earnings. Here is a breakdown of the information Osaka Gas Co presented to its investors.
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Osaka Gas Co., Ltd. is a leading energy company based in Japan, primarily engaged in the production, supply, and sale of natural gas and electricity, while also focusing on international energy and business solutions.
In its latest earnings report for the six months ended September 30, 2024, Osaka Gas Co. reported a notable decline in its financial performance compared to the previous year, with reductions in net sales, operating profit, and ordinary profit. The company highlighted a decrease in sales volume of LNG and lower city gas prices as primary factors for the decline.
Key financial metrics showed a 4.6% decrease in net sales to ¥950.1 billion and a 43.2% drop in operating profit to ¥54.9 billion. The ordinary profit also fell by 42% to ¥71.8 billion, with profit attributable to owners of the parent company decreasing by 43.1% to ¥50.7 billion. The company’s total assets increased by ¥281.3 billion, primarily due to a rise in cash and deposits and investment activities.
Despite the downturn, Osaka Gas Co. maintained its dividend forecast and financial outlook for the full fiscal year ending March 31, 2025, with expectations of ¥1,986 billion in net sales and ¥123.5 billion in operating profit. The company is also focusing on strategic investments and asset management to improve its financial position moving forward.
Looking ahead, Osaka Gas Co. remains committed to its strategic initiatives and investment activities, as it navigates the challenges in the energy sector. The management remains optimistic about the company’s ability to stabilize and potentially grow its financial performance in the coming quarters.
