Korea Electric Power (A015760) investor relations material

Executive summary

• Operating profit for Q2 2025 reached KRW 889.5 billion, with consolidated revenue up 5.5% year-over-year to KRW 46.17 trillion.

• Net income for 1H 2025 surged to KRW 3.5 trillion, a 398.1% increase year-over-year.

• Total assets reached KRW 249.9 trillion as of 2Q 2025, with 51% government ownership and 100% market share in transmission and distribution.

• Electricity sales revenue increased 5.9% year-over-year, while total sales volume slightly declined due to reduced industrial demand.

• Strong government support and credit ratings on par with the Korean sovereign (Aa2/AA).

Financial highlights

• Operating profit for 1H 2025 was KRW 5.9 trillion, up 131% year-over-year; net income was KRW 3.5 trillion, up 398.1% year-over-year.

• Consolidated operating revenue for 1H 2025 was KRW 46.2 trillion, up 5.5% year-over-year.

• Cost of sales and SG&A expenses fell 2.3%, with fuel costs down 14.6%.

• Power sales revenue increased by KRW 2.5 trillion, driven by a 5.7% rise in unit sales price despite a slight volume decrease.

• Borrowings stood at KRW 131.9 trillion on a consolidated basis.

Outlook and guidance

• Full-year 2025 electricity sales projected to decline slightly due to lower economic growth and manufacturing downturn.

• Nuclear generation mix expected to decrease, coal to remain stable, and LNG mix to decline slightly for the year.

• Regional tariff system targeted for introduction by 2026, with stakeholder input planned for early next year.

• Ongoing investment in renewable energy, nuclear, and grid infrastructure to support net zero targets.

• Targeting 33% renewable energy share and 35% nuclear in generation mix by 2038.