BAKU, Azerbaijan, July 3
By Leman Zeynalova – Trend:
Due to the recovery of the crude oil price from levels at the beginning of the fiscal year, INPEX revised its consolidated financial forecasts for the fiscal year ending December 2021, Trend reports with reference to the company.
“Assuming a crude oil price average of 60.30 US dollars per barrel and an exchange rate average of 107.5 Japanese yen against the US dollar for the full year, we expect to generate net sales of 1,055 billion yen and a net income of 140 billion yen, as outlined in our consolidated financial forecasts for the fiscal year ending December 2021.
Regarding dividend forecasts for the fiscal year ending December 2021, as the consolidated financial forecasts for the six months ending June 30, 2021 and the fiscal year ending December 31, 2021 have been revised upward, INPEX expects the annual dividend for the current fiscal year to amount to 33 yen per common stock (16.5 yen interim dividend and 16.5 yen year-end dividend), up 9 yen from the 24 yen per common stock dividend paid out last year. This increase is in alignment with the shareholder return policy outlined in the Medium-term Business Plan 2018-2022,” said the company.
As for the consolidated financial results for the fiscal year ended December 31, 2020, INPEX said its benchmark index of average Brent oil prices fell sharply year on year and, as a result, net sales decreased 34.2 percent year on year to ¥771.0 billion, operating income fell 55.6 percent to ¥248.4 billion and recurring profit decreased by 56 percent to ¥257.3 billion.
“In addition, due to the recording of an impairment loss of ¥189.9 billion, we recorded a net loss attributable to owners of parent of ¥111.6 billion in the fiscal year, down from ¥167.3 billion during the same period of the previous fiscal year, marking our first year-end loss since our integration in 2008. Net income attributable to owners of parent, excluding the effects of one-off profit (loss) such as impairment losses, was ¥54.6 billion,” said INPEX.
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