Mitsubishi Heavy Industries Achieves Strong YoY Increases in Order Intake, Revenue, and Profit in Q1 FY2024

Tokyo - Mitsubishi Heavy Industries, Ltd. (MHI, TSE Code: 7011) announced that order intake rose 15.0% year-over-year to ¥1,847.5 billion in the quarter ended June 30, 2024. Revenue rose 13.0% to ¥1,111.5 billion year-over-year, resulting in profit from business activities (business profit) of ¥83.5 billion, a 60.7% increase over the previous fiscal year, which represented a profit margin of 7.5%. Profit attributable to owners of parent (net income) was ¥62.2 billion, an increase of 17.1% year-over-year, with a profit margin of 5.6%. EBITDA was ¥122.3 billion, a 43.7% increase over Q1 FY2023, with an EBITDA margin of 11.0%, up 2.3 percentage points year-over-year.