KEP Posts Lower Loss - Analyst Blog
18 Março 2013 - 5:50AM
Zacks
South Korean utility behemoth,
Korea Electric Power Corporation (KEP), recorded
net loss of KRW3.08 trillion (USD$2.77 billion) in 2012 compared
with a net loss of KRW3.29 trillion (USD$2.96 billion) in 2011.
This was primarily due to higher fuel costs and power purchase
costs.
In full year 2012, operating revenues went up 13.7% year over year
to KRW49.42 trillion (USD$44.46 billion). The sale of electricity,
the principal component of operating revenues, increased 13.5% to
KRW45.98 trillion (USD$41.36 billion). Other revenues rose 16.6%
year over year to KRW3.44 trillion (USD$3.10 billion).
Operating expenses grew 13.0% to KRW50.24 trillion (USD$45.19
billion), of which power purchase costs increased 32.4% to KRW9.80
trillion (USD$8.82 billion). Fuel cost rose 11.0% year over year to
KRW23.82 trillion (USD$21.43 billion). Overall operating loss
shrunk 19.8% year over year to KRW818 billion (USD$0.74
million).
Korea Electric Power is an integrated electric utility engaged in
the generation, transmission and distribution of electricity in
South Korea. The company along with its generation subsidiaries
owns approximately 88.4% of the total electricity generating
capacity in Korea.
Korea Electric Power is the dominant player in Korea’s electricity
sector. It continues to be well-positioned to capitalize on growth
opportunities in this market and to benefit from the industry
restructuring initiatives of the Korean government. Higher
electricity tariff rates, higher electricity volume sales, an
improving overseas business and a recent regulatory approval for
the fuel cost pass-through mechanism will all add to the growth
story. However, this would be offset by escalating fuel costs,
increased price of purchased power and uncertainty surrounding
pending regulatory cases.
Korea Electric Power currently carries a Zacks Rank #2 (Buy).
Investors can also consider other stocks such as Pike
Electric Corporation (PIKE), Brookfield
Infrastructure Partners L.P. (BIP) and Otter Tail
Corporation (OTTR) , all carrying a Zacks Rank #1 (Strong
Buy).
BROOKFIELD INFR (BIP): Free Stock Analysis Report
KOREA ELEC PWR (KEP): Free Stock Analysis Report
OTTER TAIL CORP (OTTR): Free Stock Analysis Report
PIKE ELECTRIC (PIKE): Free Stock Analysis Report
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