Kawasaki Heavy Industrial Ltd (KWHIF) Q3 2024 Earnings Call

Investor webinar replay

Replay transcript excerpt

My name is Yamamoto. Thank you for your participation. Now I would like to present financial highlights. The consolidated results for the third quarter of fiscal year 2024 were positive overall, and we recorded the highest ever orders and revenue for a third quarter. Regarding the full-year forecast for fiscal year 2024, the previously announced figures for pre-tax income and net income were revised upwards to 100 billion yen and 78 billion yen, respectively, both up 5 billion yen. This took into account recent conditions and the replacement of assumed exchange rate to 150 yen per dollar. Business profit and dividends remain unchanged at the previously announced figures. This concludes the summary. I will provide more details beginning on page 3. In the third quarter of fiscal year 2024, orders received were 1,821.9 billion yen, revenue was 1,407.3 billion yen, business profit was 79.0 billion yen, and quarterly profit before tax was 64.4 billion yen. Quarterly profit attributable to owners of parent was 44.1 billion yen. Our performance has varied somewhat from business to business, but overall we are progressing in accordance with previously announced assumptions. As you can see, the weighted average exchange rate was approximately 9 yen weaker than in the previous year, and US dollar-based transactions amounted to approximately $1.53 billion. This chart provides a breakdown of orders received, revenue, and business profit for each segment. As you can see in one, there was a significant recovery in the aerospace systems business from the losses in PW1100G engine business in the same quarter last year. There was also a sharp improvement in the profitability of the aero engine business. These developments led to a large jump in income. Meanwhile, as you can see in 2,...