Osaka Gas Co ( (OSGSF) ) has released its Q3 earnings. Here is a breakdown of the information Osaka Gas Co presented to its investors.
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Osaka Gas Co., Ltd., a prominent player in the energy sector, primarily engages in the supply of city gas, electricity, and other energy solutions across Japan and internationally.
In its latest earnings report for the nine months ended December 31, 2024, Osaka Gas reported a decrease in net sales and profit compared to the previous year, reflecting a challenging market environment. Despite this, the company saw an increase in electricity sales volume, which partially offset the decline in city gas sales.
The company experienced a 4.4% drop in net sales to ¥1,444.1 billion and a significant 28.1% decrease in ordinary profit to ¥125.5 billion. The decline in profit was largely attributed to lower LNG sales and reduced city gas prices, alongside a time lag in the adjustment of raw material costs. Despite this, electricity sales volumes showed robust growth, with retail sales increasing by 9.0% and wholesale sales by 10.7%.
Osaka Gas’s total assets grew to ¥3,249.9 billion, driven by bond issuance and investment activities, while the shareholders’ equity to total assets ratio decreased to 49.0%. The company maintained its dividend forecast and continued its strategic expansion by including six new companies in its consolidation scope.
Looking ahead, Osaka Gas remains committed to its strategic objectives, with no revisions made to its previous financial forecasts. The management anticipates that the ongoing investments and adjustments in pricing strategies will help navigate the current market challenges and support future growth.
