ENEOS Holdings Reports Mixed FY2024 Financial Results

Eneos Holdings, Inc. ( (JXHGF) ) has released its Q4 earnings. Here is a breakdown of the information Eneos Holdings, Inc. presented to its investors.

ENEOS Holdings, Inc. is a major player in the energy sector, primarily engaged in petroleum refining, oil and natural gas exploration, and renewable energy production. The company operates in various segments, including high-performance materials and electricity generation, making it a diversified entity within the industry.

In its latest earnings report for the fiscal year 2024, ENEOS Holdings reported a slight decrease in revenue to 12,322 billion yen, a 0.2% decline from the previous year. Despite this, the company managed to maintain a profit attributable to owners of the parent at 226 billion yen, although this marked a 21.5% decrease from the previous fiscal year.

Key financial metrics revealed a significant drop in operating profit by 72.2% to 106 billion yen, while profit before tax also saw a decline of 76% to 88 billion yen. The company’s total assets decreased to 8,789 billion yen from 10,137 billion yen the previous year, reflecting strategic divestments and reclassifications, including the listing of JX Advanced Metals Corporation as an affiliate rather than a subsidiary.

The company announced an increase in annual dividends per share to 26 yen, up from 22 yen in the previous year, indicating a commitment to returning value to shareholders. Looking ahead, ENEOS Holdings forecasts a further decline in revenue for fiscal year 2025 but anticipates a substantial increase in operating profit, driven by strategic initiatives and operational efficiencies.

Moving forward, ENEOS Holdings remains focused on its long-term vision, emphasizing growth in renewable energy and high-performance materials. The management is optimistic about navigating the challenges in the energy sector, leveraging its diversified portfolio to sustain profitability and shareholder value.