Mitsubishi Heavy Industries: Strong Growth in 1H FY2025 Results & Revised Guidance
Okay, hereS a breakdown of the FY2025 Earnings Forecast data from the provided HTML table, focusing on the “Revised” figures and highlighting significant changes (bolded in the original text are retained):
FY2025 Earnings Forecast – Revised Figures
| Segment | Order Intake (Revised) | Revenue (Revised) | Business Profit (Revised) |
|---|---|---|---|
| Energy | 3,200.0 | 2,000.0 | 240.0 |
| P&I | 900.0 | 850.0 | 70.0 |
| LT&D | 600.0 | 600.0 | 20.0 |
| ADS | 1,400.0 | 1,350.0 | 140.0 |
| OC&E | 0.0 | 0.0 | -80.0 |
| Total | 6,100.0 | 4,800.0 | 390.0 |
Key Observations & Changes:
* Order Intake: total order intake is significantly revised up to 6,100.0 from a previous 5,250.0. The biggest driver of this increase is the Energy segment, which saw a significant revision to 3,200.0. LT&D also saw a decrease in order intake, revised down to 600.0.
* Revenue: Total revenue is slightly revised up to 4,800.0 from 4,750.0.The Energy segment also saw a revision up to 2,000.0. LT&D saw a decrease in revenue, revised down to 600.0.
* Business Profit: Total business profit remains unchanged at 390.0. P&I saw an increase to 70.0, while LT&D saw a decrease to 20.0. OC&E saw a decrease in loss to -80.0.
Additional Context from CFO Message:
* Strong Performance: The company is experiencing strong growth in order intake, revenue, and business profit, with a record net income.
* GTCC Driver: GTCC (Gas Turbine Combined Cycle) is a key performer, with 23 large frame gas turbine units booked, driven by demand in north America and Asia (particularly the US due to data center buildout and increased electricity demand).
* Revenue Growth Areas: Revenue is up in GTCC and Defense & Space due to backlog execution.
* Normalized Margins: The company is achieving high normalized margins in GTCC.
* Steam Power Impact: One-time expenses in Steam Power impacted business profit growth, but the company still exceeded the previous year’s figure.
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