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Mitsubishi Heavy Industries, The Current Fiscal Year Net Income Revised Upward by 4%, Raises Record High Profit Forecast

Tue Feb 4, 2025 1:30 pm JST Earnings

7011 Mitsubishi Heavy Industries,Ltd. 【IFRS】

Earnings Report

Mitsubishi Heavy Industries,Ltd. <7011> [TSE Prime] announced its financial results (based on IFRS) in the afternoon session on February 4th (13:30). The consolidated net income for the cumulative third quarter of the fiscal year ending March 2025 (April to December) increased 24.7% from the same period last year, reaching 172 billion yen.

In addition, the full-year consolidated net income has been revised upward 4.3%, from the previous forecast of 230 billion yen to 240 billion yen (compared to 222 billion yen in the previous period), increasing the growth rate from 3.6% to 8.1%, further surpassing the previous forecast of record-high profits for two consecutive terms.

Based on the full-year plan announced by the company after the upward revision, our estimate of the consolidated net income for the October to March period (2H) is expected to increase 8.1%, from the previous forecast of 122 billion yen to 132 billion yen (compared to 130 billion yen in the same period of the previous year), turning to a 2.2% increase in the consolidated net income outlook.

In the most recent three-month period, from October to December (3Q), the consolidated net income increased 41.0% from the same period last year, reaching 64.9 billion yen.

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Actual Results

Accumulated Results 3rd Quarter
Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Progress Rate vs. First Half Announce Accounting Standards
Apr - Dec, 2022 2,938,046 ー 113,662 66,441 19.8 59.5 Feb 7, 2023 IFRS
Apr - Dec, 2023 3,260,667 ー 207,599 138,050 41.1 65.9 Feb 6, 2024 IFRS
Apr - Dec, 2024 3,547,758 ー 274,889 172,110 51.2 74.3 Feb 4, 2025 IFRS
YoY +8.8% － +32.4% +24.7% +24.7%

Guidance Update

Second Half Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Oct - Mar, 2024 Prev 2,930,776 ー 179,327 122,880 36.6 11 Nov 5, 2024 IFRS
Oct - Mar, 2024 New 3,030,776 ー 219,327 132,880 39.6 11 Feb 4, 2025 IFRS
Revision Rate +3.4% － +22.3% +8.1% +8.1%

Full Year Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2025 Prev 4,900,000 ー 330,000 230,000 68.5 22 May 8, 2024 IFRS
Mar, 2025 New 5,000,000 ー 370,000 240,000 71.5 22 Feb 4, 2025 IFRS
Revision Rate +2.0% － +12.1% +4.3% +4.4%

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 3,030,776 ー 219,327 132,880 39.6 11 Feb 4, 2025 IFRS
YoY +17.1% － +20.9% +2.2% +2.2%

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 5,000,000 ー 370,000 240,000 71.5 22 Feb 4, 2025 IFRS
YoY +7.4% － +17.4% +8.1% +8.2%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
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
Oct - Dec, 2024 1,578,534 ー 124,216 64,990 19.3 0.0 Feb 4, 2025 IFRS
YoY +32.5% － +68.1% +41.0% +41.0%

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