South Korea · Delayed Price · Currency is KRW Korea Electric Power Earnings Call Transcripts
Fiscal Year 2025
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Operating and net income improved year-over-year, with revenue up 4.3% and cost reductions in fuel and power purchases. Dividend payout ratio fell, but DPS rose on higher net income. 2026 outlook expects increased nuclear generation and tariff reforms.
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Q3 2025 saw strong profit growth driven by higher electricity sales and lower fuel costs, with net profit reaching KRW 7.33 trillion. The outlook anticipates a slight decline in sales volume and a shift toward more nuclear generation, while regulatory and market uncertainties remain.
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Operating profit and net profit improved YoY on higher sales and lower fuel costs, with electricity sales volume slightly down. Industrial tariffs rose above commercial, direct power purchases by large customers increased, and tariff hikes for non-industrial sectors are under review.
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Q1 2025 saw a 4% revenue increase and strong operating profit, driven by higher electricity sales and lower fuel costs, while net profit rose to ₩2.36 trillion. Electricity sales volume declined slightly, and future sales are expected to soften amid economic headwinds.
Fiscal Year 2024
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Q4 2024 saw strong profit growth with operating profit at ₩8.3 trillion and net income at ₩3.7 trillion, driven by higher electricity sales and lower fuel costs. Overseas revenue rose on Egypt's nuclear project, while cost discipline and cautious dividend policy reflect ongoing market and project risks.
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Q3 2024 saw strong operating profit and net income growth, driven by higher electricity sales and lower fuel costs. Tariff hikes and a financial stabilization plan are supporting improved financials, while dividend policy remains under review.
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Q2 2024 saw operating income of KRW 2.55 trillion and net profit of KRW 710.3 billion, with revenues up 6.2% year-on-year and costs down due to lower fuel prices. Power sales volume declined slightly, and further tariff hikes are under consideration for H2.