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Korea Electric Power : 2Q Net Loss Narrows; Beats Expectations

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08/14/2019 | 08:36 am


By Kwanwoo Jun





Korea Electric Power Corp.'s (015760.SE) second quarter net loss narrowed 55% on year thanks to lower prices of liquefied natural gas used for its thermal power plants.



Net loss for the quarter ended June was 412.18 billion Korean won ($341.6 million) compared with KRW918.59 billion in the same quarter a year earlier, the South Korean utility firm said in a regulatory filing Wednesday. The result beat a consensus forecast for a net loss of KRW726.42 billion in a FactSet poll.



Revenue during the period fell 2.0% on year to KRW13.071 trillion, with operating loss narrowing nearly 57% on year to KRW298.66 billion.





Write to Kwanwoo Jun at kwanwoo.jun@wsj.com





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