Osaka Gas (9532) investor relations material

Executive summary

• Net sales for 1Q FY2026.3 were 470.9 billion yen, flat year-over-year, while ordinary profit rose by 15.6 billion yen to 59.3 billion yen, driven by favorable time-lag profits in Domestic Energy and increased U.S. LNG project gains.

• Profit attributable to owners of the parent increased by 17.7 billion yen to 48.5 billion yen, with EPS up 62.4% year-over-year.

• Full-year forecasts remain unchanged, projecting a decline in net sales and ordinary profit due to lower gas prices and absence of prior year electricity market transaction profits.

Financial highlights

• Operating profit for 1Q FY2026.3 increased by 65.8% year-over-year to 47.6 billion yen.

• EPS for the quarter was 122.59 yen, up from 75.51 yen a year earlier.

• EBITDA rose 33.5% to 91.2 billion yen, and NOPAT increased 30% to 42.2 billion yen year-over-year.

• Free cash flow improved to 21.5 billion yen from -73.2 billion yen in the prior year quarter.

• Comprehensive income turned negative at -29.3 billion yen, mainly due to negative foreign currency and hedge adjustments.

Outlook and guidance

• FY2026.3 net sales are forecast at 2,040.0 billion yen, down 1.4% year-over-year, and ordinary profit at 165.0 billion yen, down 13%.

• Profit attributable to owners of the parent is projected at 127.0 billion yen, with EPS of 321.9 yen.

• Annual dividend forecast is 105.0 yen per share, up 10 yen from the previous year.

• No revisions have been made to previously announced forecasts.