Komori
Earnings presentation7011Mitsubishi Heavy Industries,Ltd.Machinery

First-Quarter Financial Results Briefing Materials for Fiscal 2026

In the first quarter of FY2026, orders received, revenue, business profit, and profit for the period attributable to owners of the parent exceeded the year-earlier period. For the full-year forecast, the consolidated orders received forecast was revised upward from ¥680.0 billion to ¥700.0 billion, as were the orders received forecasts for Energy and Aerospace, Defense & Space, while free cash flow was revised to ¥600.0 billion.

Worth reading
82Important
0–100. This measures how worthwhile something is to read, not how good or bad the company is.
Direction
Mixed performance
Direction inferred from the company’s description.
Scale
1600
¥100 million (year-on-year increase in revenue)
Wording
Avoiding a definitive answer
How definitive the wording is.

Contents of this document

Earnings presentationFY2026 First Quarter9 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales¥11,942 million+15.5%
Net income¥1,346 million+97.4%
Selling, general and administrative expenses¥1,527 million
Results for the three months of the current quarterOrders received: ¥2,022.4 billion; revenue: ¥1,194.2 billion; business profit: ¥159.6 billion; profit for the period attributable to owners of the parent: ¥134.6 billion; EBITDA: ¥190.3 billion; free cash flow: ¥391.5 billion; operating cash flow: ¥284.5 billion
Full-year earnings forecast
Orders received
¥70,000 million
Revenue
¥54,000 million
Business profit
¥5,400 million
Profit for the period attributable to owners of the parent
¥3,800 million
EBITDA
¥6,600 million
Free cash flow
¥6,000 million
ROE
12 %
Dividends
29 Per share ¥
Progress against full-year forecast　通期の予想に対して、いまどこまで進んだかの割合です。
Energy
Orders received38%
Revenue24%
Business profit30%
Plants & Infrastructure
Orders received37%
Revenue21%
Business profit24%
Industrial Solutions
Orders received26%
Revenue24%
Business profit33%
Aerospace, Defense & Space
Orders received7%
Revenue19%
Business profit19%
What the company explained in this material
Breakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
  • Excluding ML¥-75 million
  • Changes in revenue and improved profit margins, etc.¥550 million
  • Foreign Exchange Effects¥50 million
  • Asset Management¥90 million
  • Wage increases, etc.¥-60 million
Assumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.
Assumed exchange rate
US dollarsUS$1 = ¥150
Euro¥180 per euro
Items Not Included in the ForecastImpact of the situation in the Middle East
New initiatives
In connection with the organizational restructuring effective 1 April 2026, the Data Center & Energy Management Department was transferred to the Industrial Solutions segment. The segment name was changed.
Key KPIsA metric the company considers important as a management benchmark.
  • Orders received¥20,224 million
    Year on year against the same period last year+25.7%
  • Order backlog¥141,030 million
    Year on year against the same period last year+¥865.3 billion vs. previous fiscal year-end
  • EBITDA¥1,903 million
    Year on year against the same period last year+51.8%
  • EBITDA margin15.9 %
    Year on year against the same period last year+3.8 pts
  • Free cash flow¥3,915 million
    Year on year against the same period last year+¥327.1 billion
  • Operating cash flow¥2,845 million
    Year on year against the same period last year+¥194.9 billion
Segment results
Energy
Orders received
¥13,593 million+56.0%
Revenue
¥5,363 million+26.7%
Business profit
¥1,013 million+79.6%
Plants & Infrastructure
Orders received
¥3,688 million+54.0%
Revenue
¥2,000 million-3.8%
Business profit
¥217 million+17.3%
Industrial Solutions
Orders received
¥1,930 million+18.6%
Revenue
¥1,779 million+15.0%
Business profit
¥99 million+147.5%
Aerospace, Defense & Space
Orders received
¥1,209 million-65.5%
Revenue
¥2,860 million+9.8%
Business profit
¥324 million+12.5%
Financial targets
ROE
Target value12 %
Orders received and order backlog
Orders received
¥20,224 million
Order backlog
¥141,030 million
Capital expenditures
¥279 100 million FY26 1Q) / ¥210.0 billion full-year forecast
Annual Dividend
29 Per share ¥
Breakdown¥14 interim / ¥15 year-end
Contents of this document
ItemDetails
Document typeEarnings presentation
Fiscal Period CoveredFY2026 First Quarter
Net Sales¥11,942 million (YoY +15.5%)
Net income¥1,346 million (YoY +97.4%)
Selling, general and administrative expenses¥1,527 million
Results for the three months of the current quarterOrders received: ¥2,022.4 billion; revenue: ¥1,194.2 billion; business profit: ¥159.6 billion; profit for the period attributable to owners of the parent: ¥134.6 billion; EBITDA: ¥190.3 billion; free cash flow: ¥391.5 billion; operating cash flow: ¥284.5 billion
Full-year earnings forecastOrders received ¥70,000 million / Revenue ¥54,000 million / Business profit ¥5,400 million / Profit for the period attributable to owners of the parent ¥3,800 million / EBITDA ¥6,600 million / Free cash flow ¥6,000 million / ROE 12 % / Dividends 29 Per share (¥)
Progress against full-year forecastEnergy Orders received 38% / Revenue 24% / Business profit 30% / Plants & Infrastructure Orders received 37% / Revenue 21% / Business profit 24% / Industrial Solutions Orders received 26% / Revenue 24% / Business profit 33% / Aerospace, Defense & Space Orders received 7% / Revenue 19% / Business profit 19%
Segment resultsEnergy Orders received ¥13,593 million (YoY +56.0%) / Revenue ¥5,363 million (YoY +26.7%) / Business profit ¥1,013 million (YoY +79.6%) / Plants & Infrastructure Orders received ¥3,688 million (YoY +54.0%) / Revenue ¥2,000 million (YoY -3.8%) / Business profit ¥217 million (YoY +17.3%) / Industrial Solutions Orders received ¥1,930 million (YoY +18.6%) / Revenue ¥1,779 million (YoY +15.0%) / Business profit ¥99 million (YoY +147.5%) / Aerospace, Defense & Space Orders received ¥1,209 million (YoY -65.5%) / Revenue ¥2,860 million (YoY +9.8%) / Business profit ¥324 million (YoY +12.5%)
Breakdown of Factors Affecting the ChangeFactors Excluding ML / Amount ¥-75 million, Factors Changes in revenue and improved profit margins, etc. / Amount ¥550 million, Factors Foreign Exchange Effects / Amount ¥50 million, Factors Asset Management / Amount ¥90 million, Factors Wage increases, etc. / Amount ¥-60 million
Key KPIsIndicator name Orders received / Value ¥20,224 million / Year on year against the same period last year +25.7%, Indicator name Order backlog / Value ¥141,030 million / Year on year against the same period last year +¥865.3 billion vs. previous fiscal year-end, Indicator name EBITDA / Value ¥1,903 million / Year on year against the same period last year +51.8%, Indicator name EBITDA margin / Value 15.9 % / Year on year against the same period last year +3.8 pts, Indicator name Free cash flow / Value ¥3,915 million / Year on year against the same period last year +¥327.1 billion, Indicator name Operating cash flow / Value ¥2,845 million / Year on year against the same period last year +¥194.9 billion
Assumptions Underlying the Business OutlookAssumed exchange rate US dollars US$1 = ¥150 / Euro ¥180 per euro / Items Not Included in the Forecast Impact of the situation in the Middle East
Financial targetsROE Target value 12 % / Equity ratio Not disclosed / Debt-to-equity ratio Not disclosed
Annual Dividend29 Per share (¥)
Capital expenditures¥279 100 million (FY26 1Q) / ¥210.0 billion full-year forecast
Orders received and order backlogOrders received ¥20,224 million / Order backlog ¥141,030 million
New initiativesIn connection with the organizational restructuring effective 1 April 2026, the Data Center & Energy Management Department was transferred to the Industrial Solutions segment. The segment name was changed.
Items this document does not state (14)
Operating profitOrdinary incomeGross Profit MarginOperating profit marginSelf-assessment against the planUnit price and quantity metricsNumber of stores and locationsNumber of employeesRisk amount incorporated into the outlookMedium-term management plan targetsPayout ratioAcquisition of treasury sharesMarket Size / ShareKey points of the Q&A

These are items the company does not state in this document. We do not leave them blank, nor fill them in from other sources or by inference.

The reasons the company gives

The company's own explanation, not something inferred from the numbers.

The factors behind the increase in business profit were an increase of ¥55.0 billion from changes in revenue, margin improvement and other factors, an increase of ¥5.0 billion from foreign exchange effects, an increase of ¥9.0 billion from asset management, and a decrease of ¥6.0 billion from wage increases and other factors. The increase in profit for the period was attributed to the increase in business profit and the recognition of foreign exchange gains resulting from the yen's depreciation. The upward revision to the orders received forecast was based on progress to date.

How to read this page

This is not the documentKomori reads the disclosure the company filed and writes this summary. Figures are as stated by the company and are not audited.
Weight is not a verdictIt measures how much this changes what the company had already told the market. It is not a view on the shares.
Corrections happenIf the company reissues this disclosure, the page is rebuilt from the corrected version and the revision number moves up.
First-Quarter Financial Results Briefing Materials for Fiscal 2026 | Mitsubishi Heavy Industries,Ltd. (7011) timely disclosure | Komori