Cosmo Energy Holdings (5021) Q2 2027 earnings summary

Executive summary

• 1H FY2026 ordinary profit was ¥232.2bn; excluding inventory valuation impact, it was ¥109.7bn, up ¥36.8bn YoY.

• Profit attributable to owners of parent was ¥147.4bn, or ¥61.6bn excluding inventory valuation impact.

Financial highlights

• Net sales rose ¥229.7bn YoY to ¥1,563.5bn; operating profit rose ¥164.5bn to ¥224.8bn.

• Ordinary profit increased ¥179bn YoY, including a ¥122.5bn inventory valuation impact; excluding that impact, it rose ¥36.8bn to ¥109.7bn.

• Profit attributable to owners of parent increased ¥123.8bn YoY to ¥147.4bn; excluding inventory valuation impact, it rose ¥24.2bn to ¥61.6bn.

Outlook and guidance

• FY2026 forecast remained unchanged: ordinary profit ¥115.0bn, including ¥5.0bn inventory valuation impact; adjusted ordinary profit ¥110.0bn.

• Forecast profit attributable to owners of parent is ¥44.0bn, or ¥40.0bn excluding inventory valuation impact; planned annual dividend is ¥165 per share, including a ¥75 interim dividend.

• Forecast assumptions include Dubai crude at $89/bbl and ¥155/$; falling crude prices may cause negative time-lag effects in H2.