Mitsubishi Heavy Industries Achieves Large YoY Growth in Order Intake, Revenue, and Profit in Strong Third Quarter, Raises FY2023 Order Intake and Revenue Guidance (Excerpt)

Tokyo - Mitsubishi Heavy Industries, Ltd. (MHI, TSE Code: 7011) announced that order intake rose 51.6% year-over-year to ¥4,496.6 billion in the three quarters ended December 31, 2023. Revenue rose 11.0% to ¥3,260.6 billion year-over-year, resulting in profit from business activities (business profit) of ¥191.6 billion, an 82.0% increase over the previous fiscal year, which represents a profit margin of 5.9%. Profit attributable to owners of parent (net income) was ¥138.0 billion, an increase of 107.8% year-over-year, with a profit margin of 4.2%. EBITDA was ¥296.4 billion, a 42.1% increase over Q1-3 FY2022, with an EBITDA margin of 9.1%, up 2.0 percentage points year-over-year.