Mitsubishi Heavy Industries Achieves Record-Breaking Cash Flow in FY2021 and Plans Increased Dividends – QNT Press Release




TOKYO, May 12, 2022 – (JCN Newswire) – Mitsubishi Heavy Industries (MHI, TSE Code: 7011) announced that order intake rose 21.9% year-over-year to ¥4,067.7 billion in the period ended March 31, 2022. Revenue rose 4.3% to ¥3,860.2 billion year-over-year, resulting in business profit(1) of ¥160.2 billion, a 196.3% increase from the previous fiscal year, which represents a profit margin of 4.2%. Net profit was &yen ;113.5 billion, an increase of 179.4% year-over-year, with a profit margin of 2.9%. ROE was 7.7%, an increase of 4.6 percentage points year-over-year. EBITDA was ¥292.4 billion, a 51.3% increase from FY2020, with an EBITDA margin of 7.6%, up 2.4 percentage points year-over-year. Free cash flow was ¥301.8 billion, a company record high and an increase of ¥579 billion year-over-year.

Underpinning the FY2021 results was strong revenue in the Gas Turbine Combined Cycle (GTCC) business (Energy Systems), which increased 15% year-over-year, in part due to shipments of the latest, high-efficiency JAC model. Nuclear Power ( Energy Systems) continues to show strong performance, with revenue growing steadily over the past five years. Another notable achievement was the recovery of revenue in the Logistics, Thermal & Drive Systems segment to pre-COVID (FY2019) …

Full story available on Benzinga.com



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