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Mitsubishi Heavy Industries,Ltd., First Half Net Income Increases by 17%, July-September Net Income Increases by 16%

Tue Nov 5, 2024 1:30 pm JST Earnings

7011 Mitsubishi Heavy Industries,Ltd. 【IFRS】

Earnings Report

Mitsubishi Heavy Industries,Ltd. <7011> [TSE-P] announced its financial results (based on IFRS) in the afternoon session on November 5th (13:30). The consolidated net income for the cumulative second quarter of the fiscal year ending March 2025 (April to September) increased by 16.5% from the same period last year, reaching 107 billion yen. The progress rate against the 230 billion yen full-year plan was 46.6%, exceeding the five-year average of 31.8%.

Based on the first-half performance announced by the company and the unchanged full-year plan, our calculation indicates that the consolidated net income for the October to March period (second half) is expected to decrease by 5.5% from the same period last year to 122 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated net income grew by 15.7% from the same period last year, reaching 44.8 billion yen.

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Actual Results

Accumulated Results 2nd Quarter
Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Progress Rate vs. First Half Announce Accounting Standards
Apr - Sep, 2022 1,875,267 ー 91,391 54,132 16.1 47.8 Nov 1, 2022 IFRS
Apr - Sep, 2023 2,069,272 ー 133,714 91,944 27.4 42.4 Nov 6, 2023 IFRS
Apr - Sep, 2024 1,969,224 ー 150,673 107,120 31.9 45.7 Nov 5, 2024 IFRS
YoY -4.8% － +12.7% +16.5% +16.4%

First Half Results vs. Previous Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Apr - Sep, 2024 Guidance ー ー ー ー － 11 May 8, 2024 IFRS
Apr - Sep, 2024 Results 1,969,224 ー 150,673 107,120 31.9 11 Nov 5, 2024 IFRS
Revision Rate － － － － －

Current Period Guidance

Second Half Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Oct - Mar, 2023 2,587,875 ー 181,473 130,079 38.7 12 May 8, 2024 IFRS
Oct - Mar, 2024 Guidance 2,930,776 ー 179,327 122,880 36.6 11 Nov 5, 2024 IFRS
YoY +13.3% － -1.2% -5.5% -5.5%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 4,202,797 ー 191,126 130,451 38.8 13 May 10, 2023 IFRS
Mar, 2024 4,657,147 ー 315,187 222,023 66.1 20 May 8, 2024 IFRS
Mar, 2025 Guidance 4,900,000 ー 330,000 230,000 68.5 22 May 8, 2024 IFRS
YoY +5.2% － +4.7% +3.6% +3.7%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 1,085,292 ー 58,013 38,757 11.5 0.0 Nov 6, 2023 IFRS
Oct - Dec, 2023 1,191,395 ー 73,885 46,106 13.7 0.0 Feb 6, 2024 IFRS
Jan - Mar, 2024 1,396,480 ー 107,588 83,973 25.0 0.0 May 8, 2024 IFRS
Apr - Jun, 2024 1,111,555 ー 101,306 62,286 18.5 0.0 Aug 6, 2024 IFRS
Jul - Sep, 2024 857,669 ー 49,367 44,834 13.3 0.0 Nov 5, 2024 IFRS
YoY -21.0% － -14.9% +15.7% +15.5%

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