Mitsubishi Heavy Industries Achieves 22% YoY Increase in Order Intake and 52% YoY Increase in Net Profit in a Challenging First Quarter JCN Newswire

Mitsubishi Heavy Industries Achieves 22% YoY Increase in Order Intake and 52% YoY Increase in Net Profit in a Challenging First Quarter

August 5, 2022
TOKYO, Aug 5, 2022 - (JCN Newswire via SEAPRWire.com) - Mitsubishi Heavy Industries (TSE Code: 7011) announced that order intake rose 22.3% year-over-year to YEN917.8 billion in the quarter ended June 30, 2022. Revenue rose 2.3% to YEN871.3 billion year-over-year, resulting in business profit(1) of YEN14.9 billion, a 30.4% decrease from the previous fiscal year, which represents a profit margin of 1.7%. Net profit was YEN19.1 billion, an increase of 51.7% year-over-year, with a profit margin of 2.2%. EBITDA was YEN47.2 billion, a 12.2% decrease from FY2021, with a profit margin of 5.4%, down 0.9 percentage points year-over-year.Highlights:- Order intake, revenue, and net profit all exceeded Q1 FY2021 results, continuing upward trend from FY2020.- Contracts executed for five large frame Gas Turbine Combined Cycle (GTCC) units in Americas, EMEA, and Asia. Strong order growth in Metals Machinery as capital expenditures by steelmakers in Asia and Americas increased.- Materials cost inflation and supply chain disruptions continued, particularly affecting Logistics, Thermal & Drive Systems segment. Price optimizations underway to mitigate these effects in second half FY2022.- Charges booked in Energy Systems, including downsizing of European coal-fired thermal power business as capacity adjusted to match long-term objectives in region.- Fixed cost reductions and strategic asset sales progressing in accordance with 2021 Medium-Term Business Plan.CFO Message:"MHI is proud to have achieved strong orders in all segments in the first quarter of this fiscal year," Hisato Kozawa, Member of the Board, Executive Vice President, and Chief Financial Officer of MHI commented. "Considering the mid- to long-term market outlook in the EMEA region, we began reducing the scale of operations in our European coal-fired thermal power business and booked some charges associated with these actions. In parallel, MHI is looking to increase our presence in EMEA through the Energy Transition by offering decarbonization solutions as well as core technologies including hydrogen utilization and CO2 Capture, Utilization, and Storage (CCUS)."Mr. Kozawa continued, "Despite securing YEN19.1 billion in net profit, the business environment remains challenging. In the first quarter, materials and logistics cost inflation and supply chain disruptions, including the lockdowns in China, continued to impact our businesses for longer than initially projected. As concerns of recession in North America and Europe mount, we will strive to improve profitability through various measures such as price optimization and further fixed cost reductions in the second half of the fiscal year."(1) Profit before finance income, finance expenses, and income taxesFor more informaton, visit www.mhi.com/news/22080501.html. Copyright 2022 JCN Newswire. All rights reserved. (via SEAPRWire)
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Hypebeast Ltd. (0150.HK) ended the financial year with another all-time high in revenue and profitability ACN Newswire

Hypebeast Ltd. (0150.HK) ended the financial year with another all-time high in revenue and profitability

June 29, 2022
HONG KONG, Jun 29, 2022 - (ACN Newswire via SEAPRWire.com) - Hypebeast Limited (Stock Code: 0150.HK) is the global leading platform for contemporary culture and lifestyle, and a premier destination for editorially-driven commerce and news. The Board of Directors of Hypebeast Limited has announced the Group's annual results for the year ended 31 March 2022 ("FY2022"). -- Revenue amounted to HK$895.6 million in FY2022, up from HK$674.2 million in FY2021, representing an increase of HK$221.4 million or 32.8%.-- Gross profit margin rose by 11.7 percentage points from 49.6% in FY2021 to 61.3% in FY2022. -- The Group delivered net profit of HK$100.2 million for FY2022, a 41.9% increase compared to FY2021. The increase translated to an improvement of net profit margin by 0.7 percentage points, resulting in an increase from 10.5% in FY2021 to 11.2% in FY2022.-- Total value in signed contracts for the Media Segment increased by 31.7% during FY2022 as compared to the prior year.-- 12-month average website monthly unique visitors (number of user who requests web pages across Hypebeast, Hypebae and Popbee platforms in a month) amounted to 16.4 million, representing a 5.1% increase over FY2021, and aggregated social media following (total number of followers on all third-party social media platforms, including but not limited to Facebook, Instagram, Twitter) increased from 26.1 million as at 31 March 2021 to 32.4 million as at 31 March 2022.The Group recorded strong revenue growth in FY2022 and reported another all-time high in revenue and profitability. Revenue amounted to HK$895.6 million in FY2022, up from HK$674.2 million in FY2021, representing an increase of HK$221.4 million or 32.8%. Gross profit margin rose by 11.7 percentage points from 49.6% in FY2021 to 61.3% in FY2022. The Group delivered net profit of HK$100.2 million for FY2022, a 41.9% increase compared to FY2021. The increase translated to an improvement of net profit margin by 0.7 percentage points, resulting in an increase from 10.5% in FY2021 to 11.2% in FY2022.Demand for the Group's media and agency services remained strong, with total value in signed contracts for the Media Segment having increased by 31.7% during FY2022 as compared to the prior year. As COVID-19 pandemic's intensity wanes and pandemic-related restrictions continue to ease, the Group's events production and offline partnerships under the Media Segment have surpassed pre-COVID-19 and FY2019 levels. The Group noted increasing demand for offline campaigns and activations as global marketing spend continues to expand. 12-month average website monthly unique visitors (number of user who requests web pages across Hypebeast, Hypebae and Popbee platforms in a month) amounted to 16.4 million, representing a 5.1% increase over FY2021, and aggregated social media following (total number of followers on all third-party social media platforms, including but not limited to Facebook, Instagram, Twitter) increased from 26.1 million as at 31 March 2021 to 32.4 million as at 31 March 2022. The Group aims to attract and reach a wider user-customer base through its development of new editorial properties, such as Hypegolf that focuses on golf and lifestyle, Hypeart on art and artists, and Hypemoon on Web 3.0 projects and technologies. The Group continues to explore similar opportunities by establishing various online and offline channels and touchpoints in order to drive the Group's brand awareness and increase engagement with new and existing users and customers. The HBX physical retail shop located in Central, Hong Kong remains a strong marketing window and attraction point for customers to participate in the Hypebeast ecosystem offline. In addition, the Group's U.S. flagship store opened in June 2022 (subsequent to the reporting financial year), spanning seven floors, housing the U.S. East Coast office, the HBX New York flagship store, a Hypebeans cafee, as well as event spaces. The New York flagship store will support execution and accelerate growth of our strong North American customer base and serve as a focused point of marketing for the E-Commerce and Retail Segment. Kevin Ma, Executive Director, Chairman, and CEO of Hypebeast, said: "We have recorded yet another all-time high in revenue and profitability, showing the strategic choices made both before and during the unprecedented COVID-19 context have paid off. The FY2022 result is the best demonstration of how the Group is geographically and strategically well-positioned to continue to capture further growth opportunities. Despite today's uncertainties, we are ambitious and will continue to focus on building and strengthening all facets of Hypebeast through market expansion, category diversification, and offering an omnichannel experience through our e-commerce platform and physical stores, in particular the newly opened HBX New York flagship store."A breakdown of this year's financial highlight is as follows:FY2022 HK$'000 FY2021 HK$'000Revenue 895,632 674,212Gross Profit 549,313 334,127Gross Profit Margin 61.3% 49.6%Selling and marketing expenses (160,391) (112,791)Administration and operating expenses (202,650) (125,005)Professional fees related to the Merger (30,185) -EBITDA (Note) 174,252 122,596Net profit 100,167 70,584Net profit margin 11.2% 10.5%Earnings per share- Basic (HK cent) 4.88 3.47- Diluted (HK cent) 4.87 3.45Note: Earnings before interest, tax, depreciation and amortization ("EBITDA") is calculated as profit before tax + interest expense + depreciation + amortization expense.For further details on the Annual Results performance, visit the Group's corporate website to view the full results announcement.https://hypebeast.ltd/investorsFor investor inquiries, please contact:investors@hypebeast.com For more information, please contact:media@hypebeast.com Strategic Financial Relations LimitedVicky Lee Tel: (852) 2864 4834 Email: vicky.lee@sprg.com.hkIvy Chan Tel: (852) 2864 4890 Email: ivy.chan@sprg.com.hkWebsite: https://www.sprg.asia/ About Hypebeast Ltd. (Stock Code: 0150.HK)Hypebeast is a leading global platform for contemporary culture and lifestyle, and a premier destination for editorially-driven commerce and content. Founded in 2005, it became a publicly listed media company in 2016 and today boasts a global readership across North America, Asia Pacific, Europe and more. The Group has expanded its publishing brands to a wider scope in recent years, encompassing Hypebeast and its multiple content distribution platforms, e-commerce and physical store HBX, and agency Hypemaker. For more information, please visit www.hypebeast.ltd. Copyright 2022 ACN Newswire. All rights reserved. (via SEAPRWire)
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