Earnings Deteriorate as Power EPC Projects Peak and Construction Delays Continue
First written in FY2021-Q3. 3 of 4 entries say "Mitigated", first in FY2022-Q3. Latest entry: FY2024.
No other company in this theme has enough history to compare yet.
- FY2024MitigatedAnnual report
「Multiple power EPC projects reached completion, and the power generation business also performed steadily.」
The company reported that multiple projects in the power EPC business, where construction delays and additional costs had emerged in the previous fiscal year, reached completion and that the power generation business performed steadily. - FY2022MitigatedAnnual report
「The Infrastructure Business Unit posted profit of ¥33.3 billion, an improvement of ¥88.5 billion from the loss of ¥55.2 billion in the previous fiscal year. This was due to the reaction to one-off additional costs associated with construction delays in power EPC projects and one-off losses including impairment losses in the Australian power generation business recognized in the previous fiscal year, although power EPC projects had peaked out.」
After additional costs associated with construction delays were incurred, the Infrastructure Business Unit improved from a loss of ¥55.2 billion to profit of ¥33.3 billion in the current fiscal year. - FY2022-Q3MitigatedAnnual report
「The Infrastructure Business Unit posted profit of ¥22.3 billion, an improvement of ¥48.2 billion from the loss of ¥25.9 billion in the same period of the previous year. This was due to the reaction to one-off additional costs associated with construction delays in power EPC projects and one-off losses including impairment losses in the Australian power generation business recognized in the same period of the previous year, although power EPC projects had peaked out.」
Although power EPC projects had peaked out, the Infrastructure Business Unit improved from a loss of ¥25.9 billion to profit of ¥22.3 billion due to the reaction to additional costs and other expenses arising from construction delays in the same period of the previous year. - FY2021-Q3MaterialisedAnnual report
「The Infrastructure Business Unit posted a loss of ¥26.1 billion, a decrease of ¥70.9 billion in profit from the same period of the previous year, due to additional costs recognized in connection with the peak-out of large-scale EPC projects and construction delays, as well as one-off losses including impairment losses recognized in the Australian power generation business and the UAE power generation and water desalination business.」
The Infrastructure Business Unit incurred additional costs associated with the peak-out of large-scale EPC projects and construction delays, resulting in a loss of ¥26.1 billion, a decrease of ¥70.9 billion in profit year on year.