Mitsubishi Heavy Industries Increases Dividends on Back of Historically High FY2023 Results, Releases FY2024 Guidance (Excerpt)

Tokyo - Mitsubishi Heavy Industries, Ltd. (MHI, TSE Code: 7011) announced that order intake rose 48.5% year-over-year to ¥6,684.0 billion in the fiscal year ended March 31, 2024. Revenue rose 10.8% to ¥4,657.1 billion year-over-year, resulting in profit from business activities (business profit) of ¥282.5 billion, a 46.1% increase over the previous fiscal year, which represented a profit margin of 6.1%. Profit attributable to owners of parent (net income) was ¥222.0 billion, an increase of 70.2% year-over-year, with a profit margin of 4.8%. EBITDA was ¥432.6 billion, a 30.6% increase over FY2022, with an EBITDA margin of 9.3%, up 1.4 percentage points year-over-year.