Mitsubishi Heavy Industries Achieves 22% YoY Increase in Order Intake and 52% YoY Increase in Net Profit in a Challenging First Quarter

Tokyo – Mitsubishi Heavy Industries (MHI, TSE Code: 7011) announced that order intake rose 22.3% year-over-year to ¥917.8 billion in the quarter ended June 30, 2022. Revenue rose 2.3% to ¥871.3 billion year-over-year, resulting in business profit(Note1) of ¥14.9 billion, a 30.4% decrease from the previous fiscal year, which represents a profit margin of 1.7%. Net profit was ¥19.1 billion, an increase of 51.7% year-over-year, with a profit margin of 2.2%. EBITDA was ¥47.2 billion, a 12.2% decrease from FY2021, with a profit margin of 5.4%, down 0.9 percentage points year-over-year.