In today’s briefing:
- The Beat Ideas: Aegis Logistics: Fueling India’s LPG Market
- Renewable Japan (9522 JP): Q1 FY12/24 flash update
- Renewable Japan (9522 JP): Q1 FY12/24 flash update
- Renewable Japan (9522 JP): Q1 FY12/24 flash update
- Renewable Japan (9522 JP): Q1 FY12/24 flash update
- Renewable Japan (9522 JP): Q1 FY12/24 flash update
- Renewable Japan (9522 JP): Q1 FY12/24 flash update
- Renewable Japan (9522 JP): Q1 FY12/24 flash update
The Beat Ideas: Aegis Logistics: Fueling India’s LPG Market
- Aegis Logistics (AGIS IN) is significantly expanding its LPG and liquid logistics infrastructure across India with rising demand.
- Currently, Aegis has a 15.5% market share in LPG imports in India which they plan to take to 25% in the next few years.
- Surpassed INR 1,000 crores in normalized EBITDA for FY ’24, planned capex of 4500 Crores by FY27.
Renewable Japan (9522 JP): Q1 FY12/24 flash update
- FY12/23 revenue was JPY33.6bn (+89.6% YoY), gross profit JPY8.0bn (+37.1% YoY), operating profit JPY3.6bn (+178.5% YoY), recurring profit JPY2.0bn (JPY1.4bn loss in FY12/22), and net income attributable to owners of the parent of JPY1.1bn (JPY1.5bn net loss).
- The company posted revenue growth and profits as electricity sale income rose due to higher installed capacity (generating recurring revenue), orders expanded in the O&M business, and one-time revenue businesses grew in Japan and overseas.
- For FY12/24, the company forecasts revenue of JPY20.5bn (-38.9% YoY), operating profit of JPY5.1bn (+42.0% YoY), recurring profit of JPY2.5bn (+24.3% YoY), and net income attributable to owners of the parent of JPY1.5bn (+37.9% YoY).
Renewable Japan (9522 JP): Q1 FY12/24 flash update
- Q1 FY12/24 revenue: JPY3.9bn (-17.3% YoY); gross profit: JPY1.4bn (-26.6% YoY); operating profit: JPY355mn (-59.0% YoY).
- Q1 FY12/24 net loss: JPY178mn; driven by higher-than-expected profits in Spot business (overseas) and Power Production (Japan).
- Recurring business revenue: JPY3.2bn (-1.9% YoY); gross profit: JPY740mn (+21.3% YoY); Spot business revenue: JPY680mn (-52.8% YoY).
Renewable Japan (9522 JP): Q1 FY12/24 flash update
- Q1 FY12/24 revenue: JPY3.9bn (-17.3% YoY); gross profit: JPY1.4bn (-26.6% YoY); operating profit: JPY355mn (-59.0% YoY).
- Recurring loss: JPY174mn (JPY628mn profit in Q1 FY12/23); net loss attributable to owners: JPY178mn (JPY452mn net income).
- Power Production business (Japan) gross profit exceeded forecast by JPY410mn; Spot business (overseas) gross profit exceeded forecast by JPY670mn.
Renewable Japan (9522 JP): Q1 FY12/24 flash update
- Q1 FY12/24 revenue: JPY3.9bn (-17.3% YoY), gross profit: JPY1.4bn (-26.6% YoY), operating profit: JPY355mn (-59.0% YoY).
- Recurring loss: JPY174mn, net loss: JPY178mn, attributed to higher-than-expected profits in Spot business and Power Production.
- Revenue breakdown: Power Production Japan: JPY2.5bn, Power Production overseas: JPY90mn, O&M: JPY710mn; total installed capacity under O&M: 2,218.0MW.
Renewable Japan (9522 JP): Q1 FY12/24 flash update
- Q1 FY12/24 revenue: JPY3.9bn (-17.3% YoY), gross profit: JPY1.4bn (-26.6% YoY), operating profit: JPY355mn (-59.0% YoY).
- Recurring loss: JPY174mn, net loss attributable to owners: JPY178mn, higher-than-expected profits in Spot (overseas) and Power Production (Japan).
- Revenue in Recurring business: JPY3.2bn (-1.9% YoY), gross profit: JPY740mn (+21.3% YoY), GPM rose 4.5pp to 23.3%.
Renewable Japan (9522 JP): Q1 FY12/24 flash update
- In Q1 FY12/24, revenue was JPY3.9bn (-17.3% YoY), gross profit was JPY1.4bn (-26.6% YoY), and operating profit was JPY355mn (-59.0% YoY).
- RJ posted a net loss attributable to owners of JPY178mn, versus a forecast of JPY880mn loss, due to higher-than-expected profits in the Spot and Power Production businesses.
- Installed capacity of power plants under O&M contracts increased to 2,218.0MW at end-Q1 FY12/24, targeting 2,300.0MW by end-FY12/24.
Renewable Japan (9522 JP): Q1 FY12/24 flash update
- Q1 FY12/24 revenue: JPY3.9bn (-17.3% YoY), gross profit: JPY1.4bn (-26.6% YoY), operating profit: JPY355mn (-59.0% YoY).
- Recurring loss: JPY174mn, net loss: JPY178mn, attributed to higher-than-expected profits in Spot and Power Production businesses.
- Installed capacity under O&M contracts: 2,218.0MW, company-owned solar power plants in Japan (non-FIT/FIP): 22.0MW, overseas: 52.8MW.
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