Japan · Delayed Price · Currency is JPY ENEOS Holdings Earnings Call Transcripts
Fiscal Year 2026
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Operating profit rose sharply in FY 2025, driven by higher oil prices and inventory valuation, with further gains forecast for FY 2026. Major overseas M&A and asset sales are set to boost growth and capital efficiency, while group restructuring and AI initiatives aim to enhance competitiveness.
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Operating profit for the first nine months declined year-on-year due to inventory valuation losses, but excluding these, profits rose on stronger petroleum margins and one-time gains. Full-year guidance is unchanged amid market volatility and cautious outlook.
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Operating profit excluding inventory valuation rose sharply year-on-year, driven by strong petroleum product margins and a one-time gain from an asset sale. Full-year guidance was revised downward for reported profit but upward for underlying profit, and the dividend was increased.
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Q1 FY 2025 saw a sharp drop in reported operating profit due to inventory valuation losses, but underlying profit rose on stronger petroleum margins and a one-time gain from a business sale. Full-year guidance is unchanged amid ongoing market uncertainties.
Fiscal Year 2025
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Operating profit excluding inventory valuation rose year-on-year, driven by improved petroleum margins, higher Metals sales, and strong Electricity business, while overall profit declined due to inventory losses. Full-year guidance is unchanged amid resource price and FX risks.
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First half FY24 saw lower profits year-over-year due to inventory and one-time effects, but full-year forecasts were raised on favorable FX and commodity prices. Segment results were mixed, with strong electricity and high-performance materials offset by declines in petroleum and metals.
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Q1 FY2024 saw stable operating income and net income, with segment results mixed due to one-off items and market conditions. Asset sales, share buybacks, and a focus on capital efficiency continued, while full-year guidance was maintained.
Fiscal Year 2024
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CCS is being developed as a major earnings pillar, with ambitious targets for CO2 storage by 2030 and 2050. Projects in Japan and overseas are advancing, supported by government policy and subsidies, while business models and value chain partnerships are evolving.